Ecopetrol (NYSE: EC) announced a new plan to increase natural gas production and strengthen energy reliability in Colombia’s Meta and Casanare departments.
Colombia’s most powerful oil workers’ union, the Unión Sindical Obrera (USO), has formally distanced itself from President Gustavo Petro’s vision of the country’s energy transition, accusing his policies of endangering Ecopetrol (NYSE: EC), the state-controlled oil giant.
Fitch Ratings has reaffirmed Ecopetrol’s (NYSE: ECP) AAA national credit rating with a stable outlook but issued a stark warning: Colombia’s state oil giant could face a downgrade if financial, operational, or political risks intensify.
Ecopetrol (NYSE: EC) has no plans or active processes to sell its stake in the Permian Basin, according to a new report by BTG Pactual that analyzed the company’s operations, political pressures, and investment outlook.
The Permian Basin, one of the most prolific oil fields in the world, has become the epicenter of Colombia’s latest energy debate. Ecopetrol (NYSE: EC), which holds a 49% stake in the Texas and New Mexico-based project through a partnership with Occidental Petroleum (NYSE: OXY), is once again under pressure from President Gustavo Petro, who insists the company should sell its participation and redirect resources toward clean energy.
Colombia’s Ministry of Finance (MinHacienda) approved Ecopetrol’s request to contract a domestic loan of up to CoP$700B (approximately US$175M) with Banco Davivienda, providing the state-owned oil company with additional short-term financial flexibility amid its broader funding strategy.
A new controversy has erupted in Colombia’s energy sector as more than 70 former ministers, Ecopetrol presidents, executives, and academics signed an open letter urging authorities to halt President Gustavo Petro’s plan to sell the company’s unconventional operations in the Permian Basin, Texas.
Colombia’s government is moving to reshape the governance of Ecopetrol (NYSE: EC) through a reform that would, for the first time, grant a full voting seat on the board of directors to an active employee.
President Gustavo Petro is once again urging Ecopetrol (NYSE: EC) to sell its stake in the Permian Basin, the highly productive oil region in the United States.
Ecopetrol (NYSE: EC) has registered one of the steepest declines in corporate reputation in its recent history.
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