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%.
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.
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Frontera Energy and Ecopetrol have confirmed that the regasification terminal at Puerto Bahía will start operations with 126 million cubic feet per day (Mpcd) of gas by the end of 2026. The project will use existing infrastructure and involves a US$80 million investment from Frontera. The companies urge speeding up environmental and infrastructure permits.
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.
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President Gustavo Petro defended Colombia's transition to clean energies, stating that oil exploration contracts from the last decade have not found large amounts of oil. He insisted on lowering the real interest rate to boost the economy. He highlighted advances like investments in solar substations and potential exports.