Welcome to our dedicated page for Ecopetrol news (Ticker: EC), a resource for investors and traders seeking the latest updates and insights on Ecopetrol stock.
Ecopetrol S.A. (EC), Colombia's leading integrated energy company, drives innovation across oil exploration, refining, and critical infrastructure development. This news hub provides investors and industry professionals with essential updates on operational milestones, financial performance, and strategic initiatives shaping Latin America's energy landscape.
Access authoritative coverage of Ecopetrol's core activities including hydrocarbon production updates, pipeline logistics advancements, and petrochemical innovations. Our curated collection features earnings announcements, partnership agreements, sustainability efforts, and regulatory developments directly impacting the company's market position.
Key updates include detailed analyses of exploration projects in strategic basins, refinery optimization progress, and infrastructure investments across electric power transmission networks. Track evolving strategies in energy transition initiatives and international market expansions through verified press releases and expert commentary.
Bookmark this page for real-time access to Ecopetrol's official communications and third-party analyses. Stay informed about critical developments affecting one of South America's most significant vertically integrated energy enterprises through our comprehensive news aggregation.
Ecopetrol S.A. has proposed a 2020 earnings distribution of $17 pesos per share, constituting 41.41% of its net income of 1.69 trillion Colombian pesos. The General Shareholders Meeting on March 26, 2021 will consider this proposal. The company has also suggested an occasional reserve of up to 5.38 trillion pesos to enhance financial sustainability. The dividend payment is scheduled for April 22, 2021. As Colombia's largest firm, Ecopetrol continues to operate significantly in various international markets.
Ecopetrol S.A. reported its financial results for Q4 and the full year 2020, revealing a significant decline in performance compared to 2019. Total sales dropped by 23.6% in Q4 and 29.4% for the year, totaling COP 50,027 billion. Net income attributable to owners fell by 83.2% in Q4 and by 87.3% annually, reaching COP 1,688 billion. Operating income decreased by 74.3% in Q4 and 65.6% year-over-year. The EBITDA margin declined to 30.5% from 38.6%. The results reflect substantial challenges faced during the year, particularly due to various impacts from the global oil market and operational costs.
Ecopetrol S.A. (NYSE: EC) announced that minority shareholders nominated Dr. Carlos Gustavo Cano Sanz for a position on the Board of Directors. This nomination aligns with the Declaration of the Nation as the majority shareholder. The nomination agreement will be reviewed and submitted to the Colombian Ministry of Finance for further processing. Ecopetrol, Colombia's largest firm and a major player in the global oil industry, actively operates in multiple regions including the U.S., Brazil, and Mexico, while also expanding its bio-fuel share.
Ecopetrol S.A. (NYSE: EC) has approved measures to ensure shareholder representation at its Ordinary General Shareholder's Meeting on March 26, 2021, per the Financial Superintendency of Colombia's regulations. Key directives include informing shareholders about proxy rights, verifying compliance with proxy requirements, and ensuring neutrality among company employees regarding voting recommendations. The General Secretary will oversee compliance with these measures. Ecopetrol, a major integrated oil company, plays a significant role in Colombia's oil production and is expanding its bio-fuel share.
Ecopetrol S.A. has announced its Annual General Shareholders' Meeting will be held remotely on March 26, 2021, at 9 a.m.. Key agenda items include safety guidelines, quorum verification, and presentations of the 2020 performance report and financial statements. Shareholders can participate through proxies beginning March 10 until March 25. Additionally, mechanisms are provided for submitting proposals and interventions, with a focus on ensuring shareholders' rights. The meeting will be streamed live on Ecopetrol's website.
Ecopetrol S.A. (NYSE: EC) announced a decrease in its consolidated proven reserves to 1,770 million barrels of oil equivalent (MBOE) as of December 31, 2020, down by 6.5% from 2019. The drop was attributed to a 32% decline in hydrocarbon prices, with a Brent price of US$43 per barrel in 2020 compared to US$63 in 2019. The reserves replacement ratio stood at 48%, with liquids making up 71% of the total. Despite the decline, new drilling projects added 114 MBOE, and enhancements in recovery led to an increase of 113 MBOE.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) will release its financial and operating results for the fourth quarter and full year 2020 on February 23, 2021.
Additionally, the company will detail its 2021-2023 Business Plan. Conference calls will be held on February 24 to discuss the results and future perspectives, with sessions in both Spanish and English. Access information for the earnings release, slide presentation, and live webcast will be available on Ecopetrol's website following the announcement.
Ecopetrol S.A. (NYSE: EC) announced the signing of an Exclusivity Agreement with Colombia's Ministry of Finance on February 12, 2021. This agreement allows Ecopetrol to commence non-binding discussions for acquiring 51.4% of Interconexión Eléctrica S.A. (ISA). The exclusivity period will last until June 30, 2021, unless mutually extended, during which Ecopetrol will conduct due diligence on ISA. This strategic move aims to strengthen Ecopetrol's position as a leading integrated oil company in Latin America.
Ecopetrol S.A. has been fined COP$ 3.86 billion by Colombia's National Environmental Licensing Authority (ANLA) due to oil seepage from the Lisama 158 Well in March 2018. This decision, issued on February 9, 2021, partially reduces a previous sanction of COP$ 5.16 billion. As part of its Environmental Recovery Plan, Ecopetrol has implemented cleaning and wildlife recovery initiatives, and has invested COP$ 23.77 billion in 33 projects. The company is currently monitoring environmental quality and is considering whether to appeal ANLA's decision.
Ecopetrol confirms it has received a written communication from Colombia's Ministry of Finance regarding its bid for 51.4% of ISA's shares. Signed exclusivity contract requires Ecopetrol to finalize the bid submitted on January 27, 2021, within the first half of 2021. The Ministry reserves the right to adjust the price based on appraisal and due diligence outcomes. As Colombia's largest firm, Ecopetrol significantly influences the region's oil sector and is expanding into bio-fuels, while facing various market and regulatory conditions that could impact its future performance.
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