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Eye on Ecopetrol

State Council rules in favor of ECP

After nearly a decade of litigation, Colombia’s State Council has upheld a ruling that clears state-run oil company Ecopetrol of liability in a US$210M lawsuit filed by foreign firm Worldwide Energy Investment (WEI).

Wednesday, May 14th, 2025
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ECP delays Komodo drilling again

Ecopetrol (NYSE: EC) has once again postponed the drilling of its ultra-deepwater Komodo well in the Caribbean Sea, citing ongoing restrictions from the National Environmental Licensing Agency (ANLA) that continue to make the project unviable.

Tuesday, May 13th, 2025
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PDVSA plans gas exports to Colombia

Venezuelan state oil company PDVSA announced its intention to begin transporting natural gas to Colombia through the Transcaribeño Antonio Ricaurte pipeline starting December 1, 2025. However, Colombia’s government, under President Gustavo Petro, has denied any involvement in or coordination with the operation.

Monday, May 12th, 2025
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Roa denies resignation

Ecopetrol (NYSE: EC) President Ricardo Roa Barragán firmly denied rumors that he has resigned from the top post at Colombia’s largest state-owned oil company.

Monday, May 12th, 2025
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The NOC’s earnings continue to fall

The NOC’s earnings continue to fall

Another fall in Ecopetrol’s earnings, more handwringing and more questions about the Petro government’s handling of the country’s most important economic asset. This time, someone even tried floating a rumor that CEO Ricardo Roa would step down after the board meeting.

Monday, May 12th, 2025
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ECP’s 1Q25 results

ECP’s 1Q25 results

Ecopetrol (NYSE: EC) announced its first quarter 2025 results, with yet another decrease in key metrics.

Thursday, May 8th, 2025
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Straws in the wind

This week a “potpourri” of varied, vaguely related small notes that, together, turn into a commentary on the state of the Colombian hydrocarbons industry.

Monday, May 5th, 2025
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Ecopetrol facing collapse?

In a statement that no doubt drove the stock price down even further, President Gustavo Petro announced that Colombia’s state oil company, Ecopetrol, is at risk of collapse.

Thursday, May 1st, 2025
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Ecopetrol secures loan

Ecopetrol (NYSE: EC) announced that Colombia’s Ministry of Finance (MinHacienda) authorized the company to secure a US$500M external loan with Banco Santander.

Wednesday, April 30th, 2025
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“Ecopetrol is victim of bad policies”

Louis Gerard, Seeking Alpha columnist, wrote an article entitled “Ecopetrol is the victim of bad policies.”

Wednesday, April 30th, 2025
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