Ecopetrol S.A. (EC)
Pre-Market:
- Reuters
UPDATE 2-CERAWEEK-With reserves of its own, Colombia does not need Venezuela's gas -Ecopetrol
Colombia can go without Venezuelan natural gas because of promising offshore developments of its own, Felipe Bayon, chief executive of state-controlled oil company Ecopetrol, told Reuters. Companies have proposed reactivating a dormant gas pipeline that connects Venezuela's Western region with Colombia using a concession granted by Venezuela's state-run PDVSA, which financed and built the 16-year-old line. "There is gas potential in Colombia," Bayon told Reuters in an interview on the sidelines of the CERAWeek energy conference in Houston.
- Reuters
UPDATE 2-Colombia's Ecopetrol reports record net profit of $6.9 bln for 2022
Colombia's majority state-owned oil company Ecopetrol on Tuesday reported record net profit of 33.4 trillion pesos ($6.9 billion) for 2022, double the previous year, boosted by higher oil prices and greater-than-expected production. Ecopetrol also reported a fourth-quarter net profit of 6.85 trillion pesos, up 13% from a year earlier. "During 2022 Ecopetrol continued to deliver historic operating and financial results which were superior to those forecast at the start of the year," Ecopetrol Chief Executive Felipe Bayon said in a statement.
- Reuters
Ecopetrol says CEO Bayon to leave his post on March 31
Colombian majority-state-owned energy company Ecopetrol on Thursday said Chief Executive Felipe Bayon will leave his post on March 31, following more than five years in the position. Bayon's departure represents a shake-up for Colombia's biggest company and largest producer of oil - one of the Andean country's most important exports - during a drive by leftist President Gustavo Petro to accelerate the transition toward renewable energy. Choosing Bayon's replacement will involve a rigorous selection process by the company's board of directors, the company said in a statement.
