During its third-quarter 2025 earnings call, Ecopetrol reported a 29.8% drop in profits and addressed concerns over a top executive's potential inclusion in the Clinton List. The company highlighted its robust compliance system and mitigation plans for sanction risks. Growth in Permian well production offset the overall decline.
Ecopetrol, Colombia's largest company, released its third-quarter 2025 results on November 14, showing profits of $2.5 trillion, a 29.8% decline from $3.6 trillion in the same period of 2024. Despite the drop, the Permian division in the United States posted a 10.8% production growth through September, reaching 105,500 barrels of oil equivalent per day, up from 95,200 the previous year. Crude oil output in Permian rose 21.7% to 48,200 barrels daily, while natural gas increased 3.1% to 57,300 cubic meters daily.
Ecopetrol holds a 49% stake in Permian since 2019, in partnership with Occidental Petroleum Company (OXY). The basin accounts for about 15% of its total production, at 115,000 barrels per day, with a 76% EBITDA margin, exceeding the 35-40% for national projects and 14% in exploration and production. The Permian basin yields 6.3 million barrels of oil per day and 25.39 million cubic meters of natural gas, employing fracking techniques that make the US the world's top producer.
During the call, the company addressed uncertainty over a potential executive's inclusion in the Clinton List, following officials' meetings at the US embassy during COP30 in Brazil. Rodolfo García, Compliance Director, stated: "the company has a solid and robust corporate governance and regulatory compliance system. Within that framework, we continuously monitor our environment and evaluate this and other scenarios based on risk." He added that they identify mitigation measures to ensure operations and regulatory compliance.
Camilo Barco, Corporate Vice President of Finance and Sustainable Value, explained: "we have planned a mitigation strategy and within it there are specific measures to reduce or eliminate any risk related to access to capital markets and strict compliance with all our financial obligations." Concerns stem from El Tiempo reports on potential additions of Colombians to the OFAC list, including President Ricardo Roa, under investigation for his role in Petro's 2022 presidential campaign, asset embargoes for campaign debts, and alleged contract rigging. The Clinton List already includes President Petro, his wife Verónica Alcocer, son Nicolás Petro, and Interior Minister Armando Benedetti.