News and AnalysIs for

The Extraordinary Assembly has approved a 30% representation of women on the new Board of Directors (3 out of 9 members), along with relaxed requirements for those aspiring to join this body.

In a surprising move, the Jurisdicción Especial para la Paz (JEP), or Special Jurisdiction for Peace, accepted José Eduardo González Sánchez, a former captain in the National Army who served as the deputy head of security for Ecopetrol (NYSE: EC), into its jurisdiction.

In 2023, Ecopetrol secured its position as one of the top three companies in the oil and gas sector for sustainability practices, as per the Dow Jones Sustainability Index (DJSI) results.

Whatever Gustavo Petro’s strengths as a politician might be (and we will leave that for another day), I would not hire him as a marketer. Who came up with “Empresa Integral de Energía de Colombia” as the new name for Ecopetrol? And what will it mean for the Colombian industry?

Ecopetrol (NYSE: EC) has been awarded the Gold Standard for its advancements in measuring, reporting, and setting reduction goals for methane emissions by the United Nations Oil and Gas Methane Partnership (OGMP 2.0).

The Inspector General’s Office upheld a fiscal liability ruling against Ecopetrol (NYSE: EC).

Colombian President Gustavo Petro’s recent announcements regarding the likelihood of the Colombian state-owned oil company, Ecopetrol, collaborating with PDVSA to explore and exploit hydrocarbons in Venezuela, raised concerns. Lately, additional specifics have emerged.

Before the holidays, MinHacienda Ricardo Bonilla, MinEnergia Andrés Camacho and Ecopetrol CEO Ricardo Roa went to Congress to explain to the Fifth Commission of the Lower House the deal between Ecopetrol and Venezuela’s PDVSA. The NOC leadership estimates a gas shortfall in 2024 of at least 10% meaning importing would be inevitable anyway.

Colombian investment bank Corficolombiano made the estimate based on assumptions about the NOC’s production and oil prices. The figure includes dividends, taxes and royalties.

Over the holiday period, we continued to monitor the Colombian press for articles on the oil and gas industry. Some will appear as standalone articles in the coming days, but we also found the following items interesting and relevant. Most concern Ecopetrol.