Renegotiations of Collective Bargaining Agreement

Rhea-AI Summary

News Market Reaction

+2.77%

1 alert

+2.77% News Effect

On the day this news was published, EC gained 2.77%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Employees: more than 19,000 employees Hydrocarbon production share: more than 60% Stake in ISA: 51.4% +2 more

5 metrics

Employees more than 19,000 employees Company description in release

Hydrocarbon production share more than 60% Share of Colombia's hydrocarbon production

Stake in ISA 51.4% Equity stake in ISA mentioned in company profile

Section 27A Section 27A of the U.S. Securities Act of 1933 Referenced in forward-looking statements disclaimer

Section 21E Section 21E of the U.S. Securities Exchange Act of 1934 Referenced in forward-looking statements disclaimer

Market Reality Check

Price: $12.25 Vol: Volume 3,298,079 vs 20-da...

normal vol

$12.25 Last Close

Volume Volume 3,298,079 vs 20-day average 2,331,911 (relative volume 1.41x). normal

Technical Price $10.46 is trading above 200-day MA at $9.19, and 7.64% below the 52-week high.

Peers on Argus

EC fell 4.04% with elevated volume. Peers were mixed: CVE (-1.25%), YPF (-5.23%)...

EC fell 4.04% with elevated volume. Peers were mixed: CVE (-1.25%), YPF (-5.23%), IMO (-1.1%) declined, while SU (+0.69%) and PBR (+0.04%) were slightly positive, pointing to a more stock-specific move than a uniform sector rotation.

Historical Context

5 past events · Latest: Dec 29 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 29	Strategic commentary	Neutral	+1.6%	Clarified preliminary, non-binding evaluation of inorganic growth in Brazil.
Dec 29	Labor negotiations	Neutral	+1.6%	USO initiated early collective bargaining complaint before agreement expiry.
Dec 11	Board committees	Neutral	-0.8%	Revised board committee composition after two director resignations.
Nov 28	Renewables acquisition	Positive	+1.3%	Negotiated acquisition of solar projects totaling up to <b>88.2 MWp</b>.
Nov 28	Board leadership	Neutral	-0.5%	New chair and vice chair named; one independent director resignation noted.

Pattern Detected

Recent news over the last 6 weeks has typically led to modest price moves, with one clearly positive alignment on a renewables acquisition and otherwise neutral reactions to governance and labor updates.

Recent Company History

Over the past few months, Ecopetrol has reported governance changes, potential inorganic growth in Brazil, labor-related announcements, and a solar portfolio negotiation supporting its 2040 Strategy. Management updates in late November–December 2025 saw small negative moves, while the solar acquisition and Brazil growth commentary on Nov 28 and Dec 29 coincided with gains around 1–1.5%. Today’s collective bargaining update follows prior December labor news, extending that theme.

Market Pulse Summary

This announcement expands on prior labor disclosures, noting that multiple unions have initiated ren...

Analysis

This announcement expands on prior labor disclosures, noting that multiple unions have initiated renegotiation of their chapters of the collective bargaining agreement within the legal timeframe. It emphasizes Ecopetrol’s commitment to constructive dialogue under the Colombian Labor Code. In context of recent board changes and strategy updates, this adds another governance-related development. Investors may watch for future filings detailing negotiation progress, potential changes to labor terms, and any quantified operational or financial impacts.

Key Terms

collective bargaining agreement, ministry of labor, forward-looking statements

3 terms

collective bargaining agreement regulatory

"complaint with the Ministry of Labor of the Collective Bargaining Agreement"

A collective bargaining agreement is a written contract negotiated between a group of employees (usually represented by a union) and their employer that sets wages, benefits, work rules and procedures for a fixed period. It matters to investors because it locks in labor costs, schedules changes and dispute-resolution rules—similar to a long-term service contract—so it affects a company’s expenses, operational stability and risk of strikes.

ministry of labor regulatory

"filing a complaint with the Ministry of Labor, within the legally-established timeframe"

A ministry of labor is a government department that sets and enforces rules for workplaces, such as wages, hours, safety, hiring and layoffs. Think of it as the traffic controller for the job market—it makes the laws and checks compliance so employers and workers operate safely and fairly. Investors watch its actions because new rules, inspections or enforcement can change companies’ costs, hiring plans and legal risks, affecting profits and stock value.

forward-looking statements regulatory

"This release contains statements that may be considered forward-looking statements within the meaning of Section 27A"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. Not financial advice.

BOGOTA, Colombia, Jan. 7, 2026 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") informs that, in addition to the information published on December 24^th 2025 were it was stated that Unión Sindical Obrera (USO) had filled a complaint with the Ministry of Labor of the Collective Bargaining Agreement, the labor organizations Adeco, Sindispetrol, Asopetrogas, Asteco, Trasine, Asintrahc, Sintramen, Sup, and Utipec have started the renegotiation of their respective chapters of the Collective Bargaining Agreement executed with the Company, by filing a complaint with the Ministry of Labor, within the legally-established timeframe.

In accordance with the provisions of the Colombian Labor Code, parties to a collective bargaining agreement may request an amendment to such an agreement by filing a complaint with the Ministry of Labor.

Ecopetrol reaffirms its commitment to open, respectful, and constructive dialogue as a key foundation for reaching agreements that continue to strengthen the well–being of all workers and the country, as well as the joint development of sustainable and valuable solutions.

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Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. 

This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. 

For more information, please contact: 

Head of Capital Markets 
Diego Nicolas Lopez Reina (a) 
Email: investors@ecopetrol.com.co 

Head of Corporate Communications (Colombia)
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co 

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SOURCE Ecopetrol S.A.