Colombian state oil company Ecopetrol announced profits of $2.8 trillion and revenues of $28.6 trillion for the first quarter of 2026. Earnings fell 7.7% from the same period in 2025. The Ebitda margin reached 47%.
The company reported a cash balance of $14 trillion, supported by operating cash flow of $7.2 trillion and free cash flow of $4 trillion. Average production stood at 725,000 barrels of oil equivalent per day.
Acting president Juan Carlos Hurtado Parra highlighted record refinery throughput and a 6,000-barrel increase in national crude output. He also announced investment agreements with Gran Tierra for US$90 million and Parex for US$260 million.
Hurtado said Ecopetrol seeks to acquire up to 51% of Brazilian firm Brava Energía, with the deal expected to close in the third quarter. The Copoazú-1 exploratory result confirmed gas presence independent of Sirius.
