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Ecopetrol (NYSE:EC) saw its revenues hit by the fall in oil prices, but managed to reverse losses felt in the final quarter of 2014, posting a consolidated net income of CoP$160B (US$67.32M) as production holds and margins in its transportation and refining businesses improve.

A potential plan from Ecopetrol (NYSE:EC) to farm out its smaller fields to private operators, one of the potential new strategy points mentioned by the NOC’s president Juan Carlos Echeverry, already has the USO oil workers union sounding alarms.

Three years after its spin-off from Ecopetrol (NYSE:EC), Cenit’s value and operation has become one of the NOC’s critical assets.

Ecopetrol (NYSE:EC) president Juan Carlos Echeverry gave another interview, emphasizing offshore and clarifing that in the Llanos development remains strong despite cuts in investment.

Ecopetrol (NYSE:EC) president Juan Carlos Echeverry says that the NOC has more austerity measures coming, but that thus far there are no mass layoffs planned. He also said fracking must continue to be an option.

The General Comptroller (CGR) says that Ecopetrol (NYSE:EC) has incurred a CoP$16.5B (US$6.5M) loss due to poor control and contract management when receiving fields being operated by other operators, amounting to a loss of state resources, a charge which the NOC denied.

The new president of Ecopetrol (NYSE:EC) Juan Carlos Echeverry has made his first statements to the press, saying the NOC will focus on  its most valuable fields, the Cartagena Refinery and offshore exploration.

New Ecopetrol (NYSE:EC) CEO Juan Carlos Echeverry made positive (although qualified) comments about fracking. Newspapers picked them up but those were the first positive reports we had seen for a long time.

Juan Carlo Echeverry spent his first day as president of Ecopetrol (NYSE:EC) on Monday, April 6 speaking with the outgoing president Javier Gutiérrez, presiding over his first board of management meeting and touring the NOC’s headquarters in Bogotá.

Javier Gutierrez has officially stepped aside as the president of Ecopetrol, and in a last interview commented on the “not so low” tax rates paid by the industry and the structural situation which has pushed oil prices down.