In the early hours of Saturday, September 2nd, a powerful storm accompanied by strong winds wreaked havoc on Ecopetrol’s (NYSE: EC) refinery located in the municipality of Barrancabermeja, Santander Department.
Ecopetrol’s Net Income looks to fall just over 40% this year with most of the decrease coming from E&P. What causes that? Lower oil prices? Higher costs as President Gustavo Petro turns the NOC into his social agenda’s “petty cash”? Or, as the press release put it, tax reform?