Ecopetrol Company News
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Gulf of Mexico Lease Sale 252 Saw $244.3MM in High Bids
Thursday, March 21, 2019 Thirty companies participated and submitted almost $284 million in all bids for acreage in the federal waters of the Gulf of Mexico.
Colombia's Transandino Oil Pipeline Bombed
Thursday, March 07, 2019 A portion of Colombia's Transandino crude oil pipeline was bombed, causing a fire.
US Sanctions on Venezuela are Helping Colombian Oil
Wednesday, February 27, 2019 U.S. Gulf refiners are bidding up prices for Colombian crude amid sanctions on Venezuelan imports.
Union Strike Halts Rigs At Ecopetrol Oilfield, Production Unaffected
Thursday, September 06, 2018 A 24-hour strike has stopped oil rigs and affected well maintenance at Ecopetrol's La Cira-Infantas oilfield, Ecopetrol and the USO union say.
CEO: Ecopetrol To Focus Spending On Drilling For Rest Of Year
Friday, August 24, 2018 Ecopetrol will focus spending for the rest of the year on increased drilling activity and securing operational licenses, its CEO says.
Colombia's Ecopetrol Cuts Planned 2018 Spending To $3-3.5B
Wednesday, August 15, 2018 Ecopetrol says it will invest $3 billion to $3.5 billion during 2018.
Colombia's Transandino Pipeline Halted After Bomb Attack
Monday, April 23, 2018 Colombia's southern Transandino pipeline was halted after a bomb attack by an illegal armed group spilled crude oil into a river, state-run oil company Ecopetrol said on Sunday.
US FERC Allows ETP Rover Natgas Pipe to Recommence Ohio Drill
Tuesday, February 06, 2018 Energy Transfer is working to complete its Rover natural gas pipeline by the end of the first quarter.
Colombia's Ecopetrol Names New CEO, Echeverry Resigns
Thursday, August 17, 2017 Ecopetrol says its current vice-president, Felipe Bayon, will take over as chief executive.
Colombia's Ecopetrol Rubiales Oil Output Hit By Protests
Tuesday, June 27, 2017 Ecopetrol has suspended production at some wells in the nation's largest oil field after demonstrators seized the facility.
Rebel Bomb Attack Halts Colombia's Cano Limon Crude Pipeline
Thursday, June 22, 2017 A bomb attack over the weekend by the Marxist ELN rebels has halted the flow of crude along Colombia's Cano-Limon Covenas pipeline, sources say.
Colombia's Ecopetrol Output Falls at Big Oil Field amid Protests
Monday, May 15, 2017 Colombia's state oil company Ecopetrol said it reduced output in one of its key production areas due to protests by residents who reject changes to the company's hiring policy for local labor.
Colombia's Ecopetrol Restarts Cano-Limon Oil Pipeline After Attacks
Wednesday, April 05, 2017 Ecopetrol has restarted the country's second-largest oil pipeline, the Cano-Limon Covenas, after a series of bomb attacks halted movement of crude for seven weeks.
Colombia's Ecopetrol To Invest $13B Through 2020
Friday, September 30, 2016 Colombia's state-run oil company Ecopetrol will invest $13 billion over the duration of its 2017-2020 investment plan, the company says.
Ecopetrol To Up Exploration, Open 80 New Wells During Rest Of 2016
Wednesday, August 17, 2016 Ecopetrol will intensify exploration and the drilling of new wells through the rest of this year, Chief Executive Juan Carlos Echeverry says.
Colombia's Ecopetrol to Open New Wells in Rubiales, Keep Output Steady
Friday, July 01, 2016 Colombia's state-owned oil company Ecopetrol will drill hundreds of new wells in the Rubiales oilfield in a bid to keep the area's output at 135,000 barrels per day, the company's president says.
Ecopetrol Takes Full Control of Rubiales Field, Output to Rise 60,000 Bpd
Thursday, June 30, 2016 Colombia's Ecopetrol says it will take over full operations on Friday at the Rubiales oilfield, the country's largest, in a move set to increase the state-run oil company's overall output by 60,000 barrels a day.
Colombia's Ecopetrol Offers 20 Blocks in Auction Launch
Thursday, June 23, 2016 Colombia's state oil company Ecopetrol offers 20 oil and gas blocks for auction, part of a company plan to cut back amid low global crude prices.
Moody's: LatAm Oil Companies Need Over $55/Bbl To Break Even
Tuesday, June 14, 2016 Latin American national oil companies need crude prices to surpass $55 per barrel to break even, a level that would allow them to invest capital enough to start reverting declining output, according to credit rating firm Moody's Corp.
Pacific Exploration, Catalyst Capital Negotiate Restructuring
Thursday, April 14, 2016 Board of oil and gas producer Pacific Exploration & Production agrees to negotiate a financial restructuring involving private-equity fund Catalyst Capital Group.
Colombia's Cano Limon Pipeline Suspended After Rebel Attacks
Monday, March 14, 2016 Two rebel bomb attacks halt pumping operations along Colombia's second most important oil pipeline, the Cano-Limon Covenas, according to the state oil company Ecopetrol.
From Champs To Chumps: Latin America Oil Giants Owe $275B
Friday, March 11, 2016 The Latin American state-run oil companies whose largesse filled government coffers during the crude boom are quickly becoming dangerous liabilities as soaring debt levels spook investors.
Colombia's Ecopetrol Reports $1.26B Loss in 2015
Sunday, March 06, 2016 Ecopetrol reports a loss of $1.26 billion during 2015, due to the global plunge in oil prices, rebel attacks and new accounting standards.
Colombia's Ecopetrol Says Reserves Down 11% in 2015 to 1.85B Barrels
Tuesday, March 01, 2016 Ecopetrol's proven oil and gas reserves were down 11% in 2015 to 1.85 billion barrels equivalent due to a decline in exploration caused by low crude prices.
CERAWeek: Ecopetrol To Sell Assets, Cut Staff Amid Low Oil Prices
Tuesday, February 23, 2016 Ecopetrol is selling some non-oil related assets, expecting to collect $1.4B at the end of 2017, and cutting 10% of staff as part of a cost reduction plan due to low oil prices.
As Oil Suffers, Colombia Eyes Tough Time for Bond Offer
Thursday, February 04, 2016 Colombia prepares to tap bond markets as slide in crude prices dents fiscal accounts threaten the oil exporting nation's credit standing.
Colombia's Ecopetrol To Explore In Four Gulf Of Mexico Blocks
Monday, November 23, 2015 The US affiliate of Colombian state-run oil company Ecopetrol will explore for oil in four blocks in the Gulf of Mexico, the company said in a statement.
Tough Contract Rescission Clauses Could Blunt Mexican Oil Opening
Thursday, July 02, 2015 Mexico's historic oil opening later this month could be undermined by company fears the government will have too much discretionary power to repeal contracts over industrial accidents and other failings.
Ecopetrol CEO Expects 2015 Profits To Fall By Half
Tuesday, May 19, 2015 Ecopetrol will likely see profits halve this year over last, CEO Juan Carlos Echeverry said, due to a plunge in oil prices.
Big Profit Margins Can't Save Ecopetrol as Drilling Fizzles
Tuesday, May 05, 2015 Ecopetrol shares have slumped 54% in dollar terms in the past year, the worst rout among producers in the BI Global Integrated Oils Valuation Peers Index, according to data compiled by Bloomberg.
Colombia's Ecopetrol To Focus On Offshore Exploration, Key Fields
Tuesday, April 07, 2015 Ecopetrol will cope with falling oil prices by bolstering exploration offshore, as well as focusing on production of high-yield wells, the company's new president Juan Carlos Echeverry says.
Colombia Oilfield Move Challenges Ecopetrol, Canada's Pacific Rubiales
Monday, March 16, 2015 A decision by Colombia's state-run Ecopetrol to reclaim control of the Rubiales oil field will imply heavier investment for it to sustain output and raises pressure on Pacific Rubiales to replace the future loss of nearly half its production.
Colombia's Ecopetrol Says It Can Keep Oil Flowing If Strike Starts
Monday, March 09, 2015 Ecopetrol has prepared a contingency workforce to maintain output should strike action by the main oil sector union go ahead, a senior official says.
Colombia's Ecopetrol Board Says To Replace CEO Gutierrez
Friday, December 12, 2014 Ecopetrol will replace CEO Javier Gutierrez after 8 years as it seeks to shift strategy after falling far short of production goals and seeing its stock plummet.
Petrobras Finds Gas at Orca-1 Well in Colombia's Offshore Tayrona Block
Wednesday, December 03, 2014 Petrobras makes gas discovery at Orca-1 exploratory well in Tayrona Block offshore Colombia.
Colombia's Ecopetrol Buys Stake In Angolan Blocks
Thursday, July 03, 2014 Ecopetrol buys a 10% stake in two blocks off the coast of Angola as part of an effort to diversify its portfolio.
Colombia's Ecopetrol To Sell Half Stake In Capachos Block To Parex
Tuesday, May 13, 2014 Ecopetrol reaches a deal to sell a 50% stake in its Capachos oil block to Parex Resources.
Ecopetrol 1Q Profit Falls 3.6% On Lower Output
Wednesday, April 30, 2014 Ecopetrol says net profit falls 3.6% as crude oil production declines.
Colombia's Ecopetrol Seeks 63% Production Rise By 2020
Friday, November 08, 2013 Ecopetrol says it will spend as much as $75 billion by 2020 to lift oil and gas production to 1.3 million barrels of oil equivalent per day.
Brazil Gears Up for Big Oil Auction Amid Heavy Security
Monday, October 21, 2013 Brazil gears sell production rights to its largest-ever oil discovery in a landmark auction that sparked widespread nationalist protests even though most of the world's premier energy companies opted to stay away.
Ecopetrol Discovers Hydrocarbons in CPO-10 Block in Colombia
Wednesday, August 21, 2013 Colombia's state-owned oil producer Ecopetrol finds hydrocarbons in the third of three oil wells it has drilled in the onshore CPO-10 block located in the centrally-located department of Meta.
Ecopetrol Finds Hydrocarbons at Cusuco Well
Monday, May 27, 2013 Ecopetrol announces that it has proven the presence of hydrocarbons at Cusuco 1 in Colombia.
Ecopetrol: Colombia's Cano Limon Pipeline Halted After Rebel Attack
Friday, May 24, 2013 Colombia's second-longest oil pipeline, the 480-mile Cano Limon, has stopped pumping after rebels reportedly used dynamite to blow up a portion of the line.
Ecopetrol Makes Oil at Pastinaca Well
Wednesday, March 20, 2013 Ecopetrol reports that it has proven the presence of heavy crude oil at Pastinaca 1 in the Meta Province of Colombia.
Colombia Tries to Contain Oil Spill After Rebels Bomb Pipeline
Friday, January 04, 2013 Ecopetrol said it's trying to contain an oil spill in northern Colombia after rebels attacked the country's second-longest crude oil pipeline.
Colombia's Ecopetrol to Partner with Anadarko in Offshore Blocks
Thursday, December 13, 2012 Ecoeptrol will partner with Anadarko in offshore exploration in two blocks in the Caribbean Sea, an area that Ecopetrol considers of strategic importance in its oil exploration strategy.
Colombia Oil Production Rebounds In September
Wednesday, October 03, 2012 Colombia oil production surged higher in September as a sudden decline in attacks by leftist guerrillas on oil pipelines allowed energy companies to pick up the pace on drilling.
Technip Leashes Dalmation Gig in GOM
Tuesday, October 02, 2012 Technip was awarded by Murphy a lump sum contract for the development of the Dalmatian field.
Ecopetrol Makes Discovery at Santander Province
Wednesday, September 05, 2012 Ecopetrol has proven the presence of crude oil at the Aullador-I exploratory well located in Santander province.
Chamber: Colombia Oil Sector Hurt by Torrential Rains
Monday, July 23, 2012 Heavy rains in Colombia's southern, oil-producing region of Putumayo are hampering oil activities there, Campetrol said in a statement.