Ecopetrol committed CoP$5,000 million to support families affected by the August 10 earthquake and its aftershocks, which have left more than 50,000 people displaced nationally, coordinating with the national government and disaster-risk authorities on aid delivery.
BTG Pactual maintains a Neutral rating on Ecopetrol, with a 12-month price target of US$14.5 against the US$17.53 the stock traded at when the report published, implying a 17.3% potential decline, partially offset by an expected 5.1% dividend yield, for an estimated total return of -12.2%.
Vanti president Rodolfo Anaya said the Sandía gas discovery, located in the Caribbean near the Sirius field, could double Colombia’s gas reserves once official reports from operators Ecopetrol and Petrobras confirm its scale — a potentially pivotal find given the country’s ongoing loss of energy self-sufficiency.
Ecopetrol’s board of directors approved the departure of five senior executives on August 27th, effective August 31th, with each position filled on an interim basis while the company defines permanent appointments.
President Abelardo De la Espriella’s government has finalized the single slate of nominees it will present at Ecopetrol’s extraordinary shareholders’ assembly on September 15, aimed at renewing the company’s board of directors.
Technically it’s over. Practically speaking, it isn’t. Gustavo Petro was still president of Colombia in July and his temporary substitute for Ricardo Roa will be there until the end of the third quarter. Even if he leaves directly after the board meeting at the end of September, he will have been in charge for virtually all of the quarter.
Drummond Energy is abandoning its planned regasification terminal in Ciénaga, Magdalena, to focus entirely on developing unconventional shale gas in Cesar, betting on President Abelardo De la Espriella’s fracking-friendly stance.
Colombia’s liquefied petroleum gas (LPG) user base grew from 59,000 to more than 372,000 between 2015 and 2025 — an increase of over 300,000 — with roughly 95% of those users belonging to strata 1 and 2.
Ecopetrol’s board, chaired by Luis Felipe Henao and backed by the De la Espriella government, approved a forensic audit into five major corruption scandals involving contracts and appointments, including the previously reported Termomorichal I/II and Gaxi cases and alleged interference by former first lady Verónica Alcocer and a contractor known as “el bachiller.”
The Colombian peso closed Wednesday, August 19 at CoP$3,039 to the dollar, its strongest level since 2018, with the year-to-date decline in the exchange rate now exceeding 17.5%, roughly CoP$658 less per dollar than where the year began (~CoP$3,757).
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