Ecopetrol (NYSE:EC) published its 2Q19 and 1H19 financial results and that allowed us to update our ECP Line-of-Business (LoB) charts, something we had not done since March (based on 2018 full-year results). The Transport LoB produces less EBITDA in volume than E&P but margins continue to rise.
The Colombian government wants to boost the growth of the oil sector and the Caribbean is positioned as one of the most attractive regions to develop new offshore projects. Ecopetrol (NYSE: EC) talked about investors’ interest in this area.
Ecopetrol (NYSE: EC) announced its second quarter 2019 results. The NOC reported good financial performance, despite lower Brent price in this period. The firm reported solid operating results as well.
According to Ecopetrol’s (NYSE:EC) information, Colombia is among those the greatest gas potential in Latin America.
Ecopetrol (NYSE:EC) confirmed that it is working on projects in the Eastern Planes, vital to assure the industry’s reactivation.
CEO Felipe Bayón spoke about the NOC’s upcoming projects, and how they will assure best practices in Colombia, when it comes to developing unconventional resources.
Ecopetrol (NYSE:EC) announced investments to develop unconventional resources in Texas, while Colombian authorities still debate about the future of fracking pilot projects in the country.
Ecopetrol (NYSE: EC) has managed to report good financial and operational results in recent years, leaving good dividends for the Colombian state and its shareholders. However, security issues are putting the firm on alert.
The Colombian offshore sector received a new boost, with the signing of the contract to develop the GUA-OFF 10 block.
Local authorities started a security strategy to deal with gasoline smuggling issues in Tibu (Norte de Santander). This caused disturbances in the area and affected Ecopetrol’s (NYSE: EC) performance.
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