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Colombia's Ecopetrol eyes investments on higher oil prices, Venezuela deals
Reuters· 2026-03-05 17:23
Group 1 - Ecopetrol plans to review its investment strategy in April if oil prices continue to rise due to the U.S.-Israeli conflict with Iran [1] - The company anticipates investing closer to the upper limit of its 22 to 27 trillion peso range ($5.79-7.11 billion) as a result of increased crude prices [1] - Ecopetrol's CEO has requested the U.S. Treasury Department to lift restrictions on negotiations with Venezuela, indicating potential opportunities for resource exchanges [1] Group 2 - The company may consider taking on additional debt for inorganic growth opportunities, such as acquisitions, while maintaining a controlled leverage ratio [1] - Ecopetrol will distribute a dividend of 110 pesos per share on March 27, representing 50% of last year's profit [1] - Shares of Ecopetrol rose over 7% in early trading, reaching 2,340 pesos per share, with ADRs in New York also increasing by nearly 7% [1]