President Gustavo Petro defended his government’s economic achievements while directly attributing Ecopetrol’s declining profits to the state oil company’s failure to adopt the energy transition he advocates.
Ecopetrol faces mounting production costs as natural field decline in Colombia combines with insufficient incorporation of new projects, reducing profitability per barrel and increasing exposure to international oil price volatility.
Citi Research analyzed Ecopetrol’s 2026 investment plan and operational outlook concluding that, while there are risks, the potential production upside justifies buying the shares.
Parex announced an update on the Llanos Foothills exploration project and other operational matters.
President Gustavo Petro considers selling Ecopetrol’s Permian Basin assets essential for the company’s financial sustainability, but experts strongly disagree, viewing the move as both unviable and harmful to the stock.
Ecopetrol’s Board of Directors experienced significant changes in late November 2025, marking the second major departure in recent months and reshaping the leadership structure of Colombia’s state oil company.
President Gustavo Petro issued a stark warning that Ecopetrol should immediately sell its participation in the Permian Basin project in the United States, citing growing risks following his inclusion on the Clinton List (OFAC sanctions list).
Ballena on the Caribbean coast produces only a fraction of what it used to but still contributes an important amount to the country’s dwindling supplies. Ecopetrol also plans to convert it to a gas import facility.
Three controversies have engulfed Colombia’s state oil company Ecopetrol in recent weeks, involving alleged financial misconduct, irregular financial tracking, and violation of campaign financing laws when Ricardo Roa ran Gustavo Petro’s 2022 election bid.
Colombia’s ongoing fiscal crisis is expected to worsen in 2026 due to a sharp drop in the profits of Ecopetrol, the nation’s most important company. The urgency for cash is so significant that the current administration has introduced a third tax reform bill to Congress.
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