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The Unión de Trabajadores de la Industria Petrolera y Energética de Colombia (UTIPEC) has filed a formal complaint with the U.S. Securities and Exchange Commission (SEC) and the New York Stock Exchange (NYSE), alleging that Ecopetrol is undergoing a process of decapitalization driven by governance failures and politically motivated energy policy decisions.

Colombia’s Finance Minister Germán Ávila has confirmed the convening of an Extraordinary Shareholders’ Assembly to make what he described as “some adjustments” to Ecopetrol’s board of directors. If the changes go ahead, the board will have been reorganized nine times in under four years — an unprecedented pace for a company of Ecopetrol’s strategic weight.

Ahead of its May 12 results release, Ecopetrol has published preliminary estimates for Q1 2026 that point to net profit of between CoP$2T and CoP$3T — a range that, if confirmed, would mark eleven consecutive quarters of year-on-year earnings decline (in pesos) since the peak of early 2023.

Moody’s has downgraded Oleoducto Central S.A. (Ocensa) one notch to Ba2 with a negative outlook, in a move that reflects the rating agency’s discomfort with the structural ties binding Colombia’s principal crude pipeline to its financially troubled majority shareholder – rather than any deterioration in Ocensa’s own operations.

Two complementary reports published by Naturgas on April 24 cover the same strategic development from different angles: the operational details of the Frontera Energy-Ecopetrol regasification project at Puerto Bahía, and a site visit by Ecopetrol’s acting president to inspect progress firsthand.

A mandatory government filing submitted to Congress in February 2026 set off a wave of concern in Colombia’s energy sector after it surfaced publicly on April 28, with media reports highlighting that the Petro administration had identified more than CoP$50T in Ecopetrol subsidiaries and affiliated assets as candidates for potential divestiture. A closer reading of the primary document — and the legislation behind it — tells a considerably more prosaic story.

The Ecopetrol-Petrobras Colombia consortium has confirmed that first gas from the offshore Sirius field will be delivered in 2030, with the project currently in the contracting phase ahead of construction. The announcement came from both companies’ presidents at the Naturgas Congress in Cartagena.

Ecopetrol announced on April 23, 2026 that it had entered into a Share Purchase Agreement to acquire approximately 26% of Brazilian oil and gas company Brava Energía S.A. — the second-largest independent listed company in Brazil by reserves and production — from a group of significant shareholders including Jive, Yellowstone, and Bloco Somah Printemps Quantum.

Moody’s Ratings downgraded Ecopetrol’s global credit rating one notch from Ba1 to Ba2 on April 23, 2026, and simultaneously shifted the company’s outlook from stable to negative — the second credit action against the state oil company in less than a month, following a similar move by S&P roughly 20 days earlier.

The Barrancabermeja refinery, Ecopetrol’s flagship processing facility in Santander, has reached its highest crude throughput in twenty years, processing 245,500 bd of crude — a level that has since climbed further to approximately 246,000 bd, according to Milton Lara, the plant’s acting general manager.