Renegotiations of Collective Bargaining Agreement with Unión Sindical Obrera

Rhea-AI Summary

Ecopetrol (NYSE:EC) announced that on December 19, 2025 the Unión Sindical Obrera (USO) initiated the early collective bargaining process by filing a complaint with the Ministry of Labor against the Collective Bargaining Agreement effective Jan 1, 2023–Dec 31, 2025.

The complaint was filed within the legal 60‑day term before the agreement's expiration. Under Articles 478–479 of the Colombian Labor Code, Ecopetrol must await administrative steps by the Ministry; USO is expected to submit a list of requests to guide negotiations. Ecopetrol said it will provide updates as required by regulations.

Key Figures

CBA effective period start January 1, 2023 Start date of Collective Bargaining Agreement with USO

CBA effective period end December 31, 2025 End date of Collective Bargaining Agreement with USO

Filing term before expiry 60 days Legal term to file complaint before CBA expiration

Employees more than 19,000 Total Ecopetrol workforce mentioned in company description

Hydrocarbon production share more than 60% Share of Colombia’s hydrocarbon production attributed to Ecopetrol

ISA ownership 51.4% Stake in ISA’s shares referenced in company overview

Market Reality Check

$10.82 Last Close

Volume Volume 1,310,413 is below the 20-day average of 1,766,414 shares. normal

Technical Shares at $9.69 are trading above the $9.18 200-day moving average.

Peers on Argus

Peers showed mixed moves: gains for CVE (0.24%) and PBR (0.35%), while YPF (-0.11%), IMO (-0.04%) and SU (-0.30%) were slightly lower, suggesting company-specific factors around EC’s disclosure rather than a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 11	Board committees update	Neutral	-0.8%	Revised composition of board supporting committees after director resignations.
Nov 28	Renewables acquisition talks	Positive	+1.3%	Negotiations to acquire solar project companies totaling up to 88.2 MWp.
Nov 28	Board leadership change	Neutral	-0.5%	Election of new chairwoman and vice chairman and notice of director resignation.
Nov 28	2026 investment plan	Positive	-0.5%	Announcement of COP 22–27 trillion 2026 investment plan and key allocations.
Nov 18	Management appointment	Neutral	-1.6%	Appointment of Alternate Legal and Commercial Representative by the board.

Pattern Detected

Recent governance and investment announcements often coincided with flat-to-negative price moves, while growth-oriented acquisition news saw a positive reaction.

Recent Company History

Over the last few months, Ecopetrol reported several board and management changes, a large COP 22–27 trillion 2026 investment plan, and negotiations to acquire up to 88.2 MWp in Colombian solar projects. Governance updates on November 18, November 28, and December 10–11, 2025 were followed by modest declines, while the renewables acquisition news on November 28, 2025 aligned with a positive price reaction. Today’s labor-related announcement fits into a period of active corporate and strategic adjustments.

Market Pulse Summary

This announcement details the early start of renegotiations of Ecopetrol’s Collective Bargaining Agreement with USO, initiated within the legally permitted 60-day pre‑expiry window for the current agreement running from January 1, 2023 to December 31, 2025. It highlights required steps by Colombia’s Ministry of Labor and indicates that Ecopetrol will provide further updates as needed. In context of recent governance and investment news, investors may watch for future disclosures on negotiation progress and any operational implications.

Key Terms

collective bargaining agreement regulatory

"against the Collective Bargaining Agreement executed between the Company and USO"

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.

colombian labor code regulatory

"As prescribed by Articles 478 and 479 of the Colombian Labor Code"

A national set of laws and rules that governs hiring, wages, benefits, working hours, severance, collective bargaining and workplace safety in Colombia. For investors it matters because this legal ‘rulebook’ shapes labor costs, hiring flexibility, compliance obligations and the risk of disputes or strikes—factors that affect a company’s expenses, operations and valuation much like how house rules determine what you can change and how much it will cost to maintain a property.

forward-looking statements regulatory

"This release contains statements that may be considered forward-looking statements"

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, Dec. 29, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") communicates that on Friday, December 19, 2025, the Unión Sindical Obrera ("USO") started the early collective bargaining process with the Company.

As prescribed by Articles 478 and 479 of the Colombian Labor Code, the early collective bargaining process started with the filing of a complaint with the Ministry of Labor, against the Collective Bargaining Agreement executed between the Company and USO, and with effectiveness from January 1, 2023 to December 31, 2025 (the "Collective Bargaining Agreement"). The complaint was filed within the legal term of 60 days prior to the expiration of the Collective Bargaining Agreement.

Pursuant to Article 479 of the Colombian Labor Code, Ecopetrol must await certain administrative steps to be carried by the Ministry of Labor. Thereafter, the USO is expected to present a list of requests which would guide the negotiations between the parties.

To the extent necessary, Ecopetrol will continue to provide updates on this process in accordance with applicable regulations.

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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
Carolina Tovar Aragón
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.

FAQ

What did Ecopetrol (EC) announce about the collective bargaining process on December 29, 2025?

Ecopetrol said USO started an early collective bargaining process on Dec 19, 2025 by filing a complaint with the Ministry of Labor.

What time period does the Collective Bargaining Agreement under dispute cover for Ecopetrol (EC)?

The agreement covers Jan 1, 2023 to Dec 31, 2025.

What are the next procedural steps after USO filed the complaint against Ecopetrol (EC)?

Ecopetrol must await administrative steps by the Ministry of Labor under Articles 478–479, after which USO is expected to present its list of requests.

Could the early collective bargaining filing affect Ecopetrol's (EC) operations or disclosures?

The company will provide updates as required by regulations; the announcement does not state any immediate operational impact.

How did Ecopetrol (EC) confirm the filing timing relative to legal deadlines?

Ecopetrol noted the complaint was filed within the legal 60‑day period prior to the agreement's expiration.