Corporate Structure and Strategy - Ecopetrol reported a total of 41,116,694,690 common shares outstanding as of the end of the fiscal year 2023[5]. - The company is classified as a large accelerated filer, indicating a significant market presence and compliance with reporting requirements[10]. - Ecopetrol's corporate strategy includes a focus on energy transition and generating value through TESG (Technology, Environment, Social, and Governance) initiatives[14]. - The company is committed to research and development, focusing on innovative technologies to improve operational performance and sustainability[14]. - The company has established joint ventures and contractual arrangements to optimize resource utilization and expand its market reach[14]. - The company is focused on forming strong joint ventures with international oil companies to enhance operational expertise and technology[127]. Investment Plans and Financials - The 2024 investment plan aims to enhance operational efficiency and expand production capabilities, aligning with the company's long-term growth objectives[14]. - The 2024 investment plan is budgeted between USD 5.6 billion and USD 6.6 billion, focusing on energy security and transition[63]. - The company expects to invest approximately USD 3.9 billion in hydrocarbon production and exploration in 2024, targeting organic production levels of 725,000 to 730,000 barrels of oil equivalent per day[63]. - The investment plan allocates resources to unconventional renewable energy, targeting a reduction of nearly one million tons of CO₂ equivalent emissions between 2024 and 2026[68]. - Approximately USD 1.4 billion is allocated for electric power transmission, telecommunications, and toll roads, with USD 1.2 billion supporting the energy transmission business[69]. - The 2024 Investment Plan includes approximately USD 911 million in sustainability investments, with 36% for climate change initiatives and 24% for water management[70]. - The company maintains a dividend policy of 40% to 60% of operating results, with expected annual transfers to the Nation between COP 13 trillion and COP 20 trillion[62]. Production and Operational Performance - Oil and gas production increased to 736.6 mboed in 2023, up from 709.5 mboed in 2022, representing a growth of 3.1%[34]. - Refinery throughput rose to 422,623 bpd in 2023, compared to 360,451 bpd in 2022, marking an increase of 17.3%[34]. - The average daily crude oil production in Colombia by Ecopetrol S.A. was 498.7 thousand bopd in 2023, representing a year-on-year increase of 1.2%[148]. - The average daily production of natural gas by Ecopetrol S.A. reached 129.17 thousand boepd in 2023, a decrease of 2.6% compared to 2022[155]. - The total gross production of Ecopetrol Group in Colombia was 663.3 thousand boepd, slightly up from 662.4 thousand boepd in 2022[139]. - The total number of gross development wells owned and operated by Ecopetrol in Colombia decreased to 336 in 2023 from 412 in 2022, a reduction of approximately 18.4%[167]. Reserves and Exploration - Proved oil and gas reserves decreased to 1,883 mmboe in 2023 from 2,011 mmboe in 2022, a decline of 6.4%[34]. - The 1P reserves replacement ratio was 48% in 2023, down from 104% in 2022, indicating a significant decrease in reserve replacement[34]. - The number of exploratory wells drilled was 26 in 2023, a decrease from 29 in 2022, reflecting a reduction of 10.3%[34]. - The company drilled and completed 336 development wells in 2023, primarily in the Andina Oriente region[143]. - The company is advancing the Pau Brasil-1 well in Brazil's Santos Basin, expected to be drilled in the first semester of 2024, considered a high-impact well[129]. Market Conditions and Economic Factors - The average exchange rate for 2023 was COP 4,330.14 per USD 1.00, impacting financial results[27]. - The ongoing geopolitical tensions, including the Russian invasion of Ukraine, may affect operational performance and market conditions[30]. - The Colombian economy grew at a rate of 0.6% in 2023, significantly lower than the 7.5% growth rate in 2022[42]. - In 2023, the average Brent oil price was USD 82.17/Bl, a decrease of USD 16.88/Bl compared to 2022[36]. - Global oil demand increased by 1.9 million barrels per day in 2023, surpassing the pre-pandemic growth rate of 1.2 million barrels per day[37]. - OPEC+ supply was 1.5 million barrels per day lower than in 2022, with cuts reaching 2.2 million barrels per day[39]. Environmental and Regulatory Compliance - Ecopetrol is subject to various regulations governing exploration, production, and environmental standards, which are integral to its operational framework[14]. - The long-term strategy aims for a 55% reduction in methane emissions by 2030 and net-zero carbon emissions by 2050[45]. - The company plans to invest over USD 300 million in low-emission businesses over the next three years, including green hydrogen projects[54]. - The company is focused on managing risks related to climate change and cybersecurity as part of its strategic initiatives[30].

BOGOTA, Colombia, April 18, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has published the periodic year-end report for 2023, which contains sections related to company practices, policies, processes and indicators in connection with social and environmental matters, including climate issues.  This report was published pursuant to External Circulars 012 of 2022 and 031 of 2021, both issued by the Financial Superintendence of Colombia (Superintendencia Financiera de Colombia). Ecopetrol has ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Translation of registrant's name into English) For the month of April, 2024 Commission File Number 001-34175 ECOPETROL S.A. (Exact name of registrant as specified in its charter) N.A. COLOMBIA (Jurisdiction of incorporation or organization) Carrera 13 No. 36 – 24 BOGOTA D.C. – COLOMBIA (Address of principal executive of ...

Earnings are arguably the most important single number on a company's quarterly financial report. Wall Street clearly dives into all of the other metrics and management's input, but the EPS figure helps cut through all the noise.We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.Now that we k ...

BOGOTA, Colombia, April 5, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces the following senior management changes: Ana Milena López, submitted her voluntary resignation as Corporate Vice President of Finance and Sustainable Value effective on April 12, 2024. María Catalina Escobar Hoyos, our current Value Maximization Manager, will temporarily take over this position effective April 13, 2024, until a new candidate is appointed to fill the position. Luz Elena Díaz, our Corporate Vic ...

BOGOTA, Colombia, April 5, 2024 /PRNewswire/ -- The Board of Directors of Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has appointed Guillermo García Realpe, as Chairperson of the Board, and Mónica de Greiff Lindo, as Vice-Chairperson of the Board, in its meeting held on April 5, 2024. The Board of Directors also approved the composition of the following committees: AUDIT AND RISK COMMITTEE Luis Alberto Zuleta Jaramillo (Chairperson) Álvaro Torres Macias Guillermo García Realpe Angela María Robledo Gómez Juan ...

BOGOTA, Colombia, March 27, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that, in accordance with External Circular 012 of 2022 issued by the Superintendency of Finance of Colombia, has published the consolidated and separate financial statements as of 31 December 2023, which can be consulted in Spanish at the following link: https://www.superfinanciera.gov.co/SIMEV2/informacionrelevantegeneral ----------------------------------------- Ecopetrol is the largest company in Colombia ...

BOGOTA, Colombia, March 22, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that Refinería de Cartagena S.A.S. ("Reficar") has been notified of the decision to approve the alternative financial restructuring plan of Chicago Bridge & Iron Company N.V. ("CB&I N.V."), reached today, March 21, 2024, by the District Court of Amsterdam in the Netherlands, in charge of the restructuring process initiated on September 8, 2023 by McDermott International Ltd. ("McDermott"), on behalf of its sub ...

BOGOTA, Colombia, March 20, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, as part of its comprehensive debt management and maturity refinancing strategy, the Ministry of Finance and Public Credit ("MHCP"), through Resolution 0652 of 20 March 2024, has approved the execution of a loan of up to USD 1,200 million. The loan will be executed by and among Ecopetrol, as borrower, and Bank of Nova Scotia (USD 300 million), BBVA Securities Inc. (USD 250 million), Bank of America, N.A. ...

The Latin American business scene is vibrant and growing. Its energy stocks should catch your attention, even if you’re someone who rarely gets excited about energy stocks.So, while the energy transition is expected to be long, some energy companies will be more prepared for it than others. Here are three Latin American energy stocks for your must-buy list, and they should win regardless of how long the transition takes.Ecopetrol (EC)Source: stockwars / Shutterstock.comFirst up is Ecopetrol (NYSE:EC), the l ...