Ecopetrol
Ecopetrol reports $2.8 trillion profit in first quarter
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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 Unión Sindical Obrera announced mobilization days starting May 20 to back negotiations for a new collective agreement with Ecopetrol. The actions aim to defend decent employment and labor stability.
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Ecopetrol will report on its operations, revenues, and EBITDA for the first quarter of 2026 on May 12 and 13. Interim president Juan Carlos Hurtado will present the figures instead of Ricardo Roa, who requested vacation and unpaid leave. The company projects declines in revenues and net profit compared to last year.
Ecopetrol shares dropped 4.96% to $2,680 on the Colombia Stock Exchange on March 24, as the board debates Ricardo Roa's future as president after his imputation for alleged influence peddling. The USO union threatened a national strike if he is not removed. Analysts criticize the timing amid high oil prices.
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Ecopetrol shares closed at $2,685 on the BVC, their highest since October 2023, and the ADR hit US$14.62, a high not seen since June 2022. This comes amid the crisis over president Ricardo Roa's indictment for alleged influence peddling. The USO union demands his removal and threatens a strike.