The publicly-traded, Colombia-focused E&Ps have all published their CAPEX guidance and expectations for Brent for the coming year. Normally, we see that price is the biggest determinant of CAPEX but this year might be different with a left-leaning, activist government. Can we see any evidence that policy changes and / or the new tax laws have had an influence?
The government filed a bill that seeks to add more than CoP$25.4T to the National General Budget (PGN) in 2023. Ecopetrol (NYSE: EC) dividends play a key role in this.
Carlos Gustavo Cano broke his silence with a letter signed as a professor at Universidad de Los Andes and former co-director of Colombia’s Central Bank.
Saul Kattan, Chairman of the Board of Ecopetrol (NYSE: EC), spoke about key issues such as shale projects in the US, the new CEO and energy transition.
We do not get into financial analysis of individual companies nor are we your source for stock market advice. But we do keep track of how Colombia-focused stocks as a group are doing relative to global indexes because we believe this reflects government policy not individual performance. And we watch what is happening with Ecopetrol (NYSE:ECP) because, although individual performance plays a role, much movement reflects how its principal owner, the Colombian government, views the industry.
Ecopetrol’s (NYSE: EC) corporate governance will be put to the test in the new election of the NOC’s president, which should be established in the next two months.
Saúl Kattan, Chairman of the Board of Directors at Ecopetrol (NYSE: EC), spoke about the departure of Felipe Bayón and the company’s priorities for 2023.
Ecopetrol’s (NYSE: EC) bond prices reported a drop, following the announcement of Felipe Bayón’s departure as the NOC’s CEO.
The NOC announced that engineer Felipe Bayón Pardo will no longer lead the company, starting March 31st, 2023.
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