We won’t see the official reserves report for a month or so but we have the reports of the major Colombia-focused players. That should give an indicator of how things went last year. Do not expect great news especially when the NOC – which contributes over 60% of reserves – has a down report.
A confidential report from a British firm shed light on the potential risks facing Colombia’s state-owned oil company, Ecopetrol (NYSE: EC), amidst investigations into its president, Ricardo Roa.
The boardroom brawl at Ecopetrol (NYSE: EC) has taken a dramatic turn as President Gustavo Petro seeks to shake up its leadership amid his push to wean the country off fossil fuels.
Carlos Gustavo Cano, a former minister and a six-year member of the board at Ecopetrol (NYSE: EC), raised serious concerns about the company’s corporate governance.
The Ecopetrol Board of Directors has taken action in response to the ongoing controversy surrounding the company’s president, Ricardo Roa.
Ecopetrol (NYSE: EC) officially released the list of candidates for its new Board of Directors on its website.
In a public letter, Representative Juan Espinal, second vice president of the House of Representatives, expressed deep concern over Ecopetrol’s (NYSE: EC) significant profit decline last year.
Colombian President Gustavo Petro emphasized the urgent need for Ecopetrol (NYSE: EC) to transition to clean energy.
In a race against time, Ecopetrol (NYSE: EC) finds itself entangled in a tug-of-war over the government’s latest slate of candidates for its board of directors.
The company, MinHacienda and those sympathetic to the government quickly blamed Ecopetrol’s 43% drop in Net Income in 2023 on oil prices. Petro attributed it to the end of fossil fuels. The opposition blamed government mismanagement. Who is right or perhaps, what is the right balance between the various partial explanations?
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