This week, a two-part “What We Think”. Firstly, Campetrol’s Nelson Castañeda spoke to the national press, naturally about rigs, saying the February 2023 count fell again because of social conflict. Not coincidentally, we published an article based on a press release by Colombia’s Ombudsman saying incidents year-to-date February 2023 increased 73% over last year. And for those with the patience to stick to the end, a reflection on Ecopetrol as we await Felipe Bayón’s replacement.
Last week the headlines were all about Ecopetrol’s record breaking earnings, and that they were. Virtually every Line of Business (LoB) also hit new highs. ISA’s contribution was “showy” at least for EBITDA but its contribution to earnings was much more modest.
Ecopetrol (NYSE: EC) announced its investment plan for 2023. The Minister of Finance (MinHacienda), José Antonio Ocampo, talked about the company.
Ecopetrol’s (NYSE:EC) Felipe Bayón spoke about the need to continue exploring new areas in Colombia, the energy transition and the role hydrocarbons will continue to play in the oil company’s operations.
Ecopetrol’s (NYSE: EC) discussed the labor reform and its potential impact on the company. USO responded to these statements.
Ecopetrol (NYSE: EC) has become the first extractive company in Latin America to verify the calculation and reporting of its water footprint.
Two more members of Ecopetrol’s (NYSE: EC) Board of Directors may leave their positions.
Ecopetrol (NYSE: EC) announced its profit distribution plan for 2022.
Ecopetrol (NYSE: EC) announced its fourth quarter 2022 results, with record operational and financial results.
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