Ecopetrol Finalizes Labor Deal with USO Petroleum Workers Union Through 2022

To formalize an agreement announced earlier this week, the heads of Colombian state-controlled oil company Ecopetrol and the primary union representing its workers sat down yesterday to sign the deal.

The labor deal between the Bogotá-based firm and the Petroleum Industry’s Workers Union (USO) was signed by Ecopetrol President Felipe Bayón and USO President César Loza to settle a dispute over salary and benefits through the end of 2022.

Photo: President Felipe Bayón (left) and USO President César Loza (right) finalized the labor agreement at the Ministry of Labor in Bogotá today alongside Minister of Labor Alicia Arango. (Photo credit: Ecopetrol)

Called the “Collective Convention 2018-2022,” the agreement provides a salary jump for workers of the inflation rate plus 1.7% in each year starting with 2019 as well as a 1.21% increase above inflation for 2018, which is retroactive to July 1.

Various benefits concerning healthcare, education, transportation, loans, and other benefits were also outlined in the agreement.

The deal also includes agreements with six other labor unions.

“There were no winners or losers,” said Bayón. “The agreement was good for everyone: company, workers, and the country.”