Ecopetrol has raised alarms about possible gas restrictions after members of the Movimiento Político de Masas Social y Popular del Centro Oriente de Colombia (MPMSPCOC) seized control of the Gibraltar gas processing plant on November 24.
Local media reported allegations of contract steering and influence-peddling within Cenit, a subsidiary of Ecopetrol (NYSE: EC). Ricardo Roa, CEO of ECP, addressed the claims.
A recent survey by YanHaas and the Hernán Echavarría Olózaga Institute of Political Science (ICP) reveals overwhelming opposition among Colombians to the idea of importing gas from Venezuela—a proposal previously floated by Ecopetrol’s (NYSE: EC) President, Ricardo Roa.
The Federation of Freight Transporters (Colfecar) has called on the Colombian government to allocate a portion of the revenue generated by the carbon tax to support the decarbonization of the transportation sector.
The Colombian Chamber of Goods and Services (Campetrol) reported rig information for October 2024.
Colombia faces a growing challenge in balancing energy demand and supply, with imported gas becoming an increasingly necessary yet costly solution.
The Ministry of Mines and Energy (MinEnergia) has unveiled a draft resolution detailing the 2023–2032 Natural Gas Supply Plan, aimed at bolstering the country’s gas supply.
Citibank, one of the world’s leading financial institutions, has further lowered its target price for Ecopetrol (NYSE: EC).
How bad is it? ECP’s 3Q24 results came out recently and Net Income fell once again. The share price continues to fall. Reputable investment banks question the NOC’s governance and suggest the share price could fall further. But do the numbers justify the gloom and doom?
Ecopetrol’s (NYSE: EC) stock price has dropped to levels reminiscent of the global market crash caused by the COVID-19 pandemic, raising concerns about the financial health of Colombia’s state-owned oil company.
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