BOGOTA, Colombia , Dec. 16, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (the "Company") announces that Germán González Reyes, who has been serving as Secretary General since September 29, 2023 (as announced on that date) and Acting Director of Institutional Relations and Communications since June 28, 2024 (as announced on that date), will perform his duties until January 17, 2025. Ecopetrol thanks Germán González for his seven years of service, his valuable management, and the contributio ...

Group 1: Core Insights - Ecopetrol S.A. plans to construct a new green hydrogen plant in Cartagena, expected to produce 800 tons of green hydrogen annually, making it the largest renewable energy plant in Latin America [1][4] - The Colombian government, under President Gustavo Petro, aims to reduce fossil fuel dependence, with Ecopetrol playing a crucial role in this transition to cleaner energy sources [2][4] - The green hydrogen will be integrated into the Cartagena refinery for hydrotreating fuels, potentially reducing carbon emissions by up to 7,700 tons, equivalent to emissions from approximately 1,650 vehicles annually [3][4] Group 2: Financial Implications - The green hydrogen production is projected to contribute between $400 million and $485 million to Ecopetrol's EBITDA annually by 2040, diversifying revenue streams while focusing on emission reductions [5] - The cost-effective production of low-emission hydrogen is supported by advanced technologies and the establishment of a solar farm at the Cartagena refinery [5] Group 3: Market Position - Ecopetrol currently holds a Zacks Rank of 3 (Hold), indicating a stable market position [6] - Other energy sector companies with better rankings include Smart Sand, Inc. (Rank 2), FuelCell Energy (Rank 2), and Nine Energy Service (Rank 2), suggesting competitive dynamics in the clean energy space [6]

Core Viewpoint - Ecopetrol S.A. has approved an annual investment budget for 2025 ranging from 24 to 28 trillion pesos, which represents an increase compared to 2024, focusing on capital discipline and strategic growth in various sectors [1][10]. Investment Budget Overview - The budget allocates approximately 20.3 trillion pesos (76% of the total) for profitable production, targeting an output of 740,000 to 745,000 barrels of oil equivalent per day and refining capacity of 415,000 to 420,000 barrels per day [1][2]. - An estimated 6.5 trillion pesos (24% of the budget) will be directed towards Energy Transition projects and other corporate investments, including 2.3 trillion pesos for SosTECnibilidad® initiatives [1][9]. Hydrocarbons Line - Investments in exploration and production are expected to be around 17.2 trillion pesos, focusing on crude oil and gas production, with a target of 740,000 to 745,000 barrels of oil equivalent per day [2][3]. - The company plans to drill between 455 and 465 development wells, with 79% in Colombia and 21% in the United States, and aims to produce approximately 123,000 barrels of oil equivalent per day from gas investments [3]. Transportation and Refining Segments - Transportation investments are projected at approximately 1.5 trillion pesos, focusing on infrastructure integrity and reliability, with expected transported volumes of 1,130,000 to 1,170,000 barrels per day [4]. - Refining investments are estimated at 1.6 trillion pesos, aimed at ensuring operational reliability and sustainability of the Barrancabermeja and Cartagena refineries, with a joint load of 415,000 to 420,000 barrels per day [5]. Energy Transition and Optimization - The budget includes investments in unconventional renewable energy and energy efficiency projects, with an expected energy optimization of 2.6 Peta Joules (PJ) in 2025 [8][9]. - The company aims to achieve an accumulated energy saving of around 21 PJ by 2025, contributing to a target of 25 PJ by 2030 [9]. Financial Projections - The financial plan anticipates competitive returns with an estimated EBITDA margin of 39% based on a Brent price of US$73 per barrel, with operational efficiency targets exceeding 4 trillion pesos [10][11]. - The financing of the investment plan is expected to be supported by operational resources and project transfers to the Nation, estimated at approximately 35 trillion pesos [11]. Company Profile - Ecopetrol is the largest company in Colombia, responsible for over 60% of the country's hydrocarbon production, and holds significant positions in energy transmission and logistics across the Americas [12].

My view of Ecopetrol (NYSE: EC ) (TSX: ECP:CA ) started pessimistic and turned optimistic over time. Today, I am investigating the company for the third time, and I am again somewhat less confident than in the last article. Still, at theMy focus is on a total return style with long and short positions (10-30% short positions). My main expertise is the current technological and geopolitical shift with the amazing investment opportunities they offer. Therefore, I always try to find stocks or whole sectors wit ...

BOGOTA, Colombia, Nov. 21, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (the "Company") informs that today it completed the redemption of the aggregate principal amount outstanding of its 5.375% notes due 2026, which were originally issued in 2015. The repurchase price of this bond was USD 1,007.63 for each USD 1,000 of principal outstanding, amounting to USD 450,579,892 for the aggregate principal amount outstanding, plus accrued interest up to the date.With this early payment, the aggreg ...

Group 1 - Ecopetrol S.A. has published its fourth TCFD report, covering developments from 2023 and the first half of 2024, focusing on climate-related risk and opportunity management [1][2] - The report aligns with international best practices and follows the recommendations of the Financial Stability Board's Task Force on Climate-Related Financial Disclosures (TCFD) [2] - Ecopetrol is the largest company in Colombia, responsible for over 60% of the country's hydrocarbon production, and has significant roles in transportation, logistics, and refining systems [2] Group 2 - The company employs more than 19,000 people and has a strong presence in the petrochemicals and gas distribution segments [2] - Ecopetrol has acquired 51.4% of ISA's shares, expanding its involvement in energy transmission and real-time systems management [2] - Internationally, Ecopetrol operates in strategic basins in the Americas, including drilling and exploration in the United States, Brazil, and holds leading positions in power transmission in Brazil, Chile, Peru, and Bolivia [2]

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Ecopetrol S.A. (NYSE:EC) Q3 2024 Earnings Conference Call November 14, 2024 9:00 AM ET Company Participants Ricardo Roa - Chief Executive Officer Rafael Guzman - Acting Executive Vice President, Hydrocarbons David Riano - Executive Vice President, Transition Energy Camilo Barco - Chief Financial Officer Julián Lemos - Acting Vice President, Strategy & New Businesses Sandra RodrÃguez - Corporate Vice-President of Territorial Javier Cardenas - Chief Value Officer Conference Call Participants Katherine Ortiz - ...

FINANCIAL RESULTS 3 RD Quarter /2024 eCoPeTROL Chuchupa Gas well Legal disclosure Financial Results This document was prepared by Ecopetrol S.A. (the "Company" or "Ecopetrol") with the purpose of providing the market and interested parties certain financial and other information of the Company. This document may include strategy discussions and forward-looking statements regarding the probable development of Ecopetrol's business. Said projections and statements include references to estimates or expectation ...

Credit Rating and Financial Profile - Fitch Ratings maintained Ecopetrol's global credit rating at BB+ with a stable outlook, reflecting the company's stable operational condition and strategic importance [1][2] - The Standalone Credit Profile (SCP) was downgraded from 'bbb' to 'bbb-', but remains within the Investment Grade range and above the company's global rating [1][3] - Ecopetrol's national long-term and short-term ratings were affirmed at 'AAA (col)' with a Stable Outlook and 'F1+(col)', respectively [1] Operational and Strategic Position - Ecopetrol is the leading producer of oil and gas in Colombia, responsible for over 60% of the country's hydrocarbon production [4] - The company has a significant energy transmission business in Colombia and other Latin American countries through its subsidiary Interconexión Eléctrica S A E S P - ISA [2] - Ecopetrol holds leading positions in petrochemicals, gas distribution, and power transmission businesses in Brazil, Chile, Peru, and Bolivia [4] International Presence and Subsidiaries - Ecopetrol has strategic operations in the United States (Permian basin and Gulf of Mexico), Brazil, and through ISA, in Chile, Peru, and Bolivia [4] - The company acquired 51 4% of ISA's shares, expanding its involvement in energy transmission, real-time systems management, and road concessions [4] - Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with over 19,000 employees [4]