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Ecopetrol To Reduce 2020 Investment By $1.2 Billion USD Due To Pandemic, Economic Conditions

Colombia's currency and bellwether stocks Avianca & Ecopetrol all took a plunge this week s double whammies of coronavirus panic and petroleum trade wars between Saudi Arabia & Russia impact the global economy. How will things play out?

Sovereign and corporate issuers in Latin America will be adversely affected by slower Chinese demand and commodity price weakness caused by coronavirus due to high commodity export dependence and direct trade exposure to China, says Fitch Ratings.

Fitch Ratings released an analysis on Colombia’s tax reforms, stating they will likely signify revenue losses in 2020, underscoring the view that meeting this year’s fiscal deficit target will be challenging and reliant on extraordinary revenues, the ratings firm...

Colombia’s state controlled petroleum producer Ecopetrol S.A. (BVC: ECOPETROL, NYSE: EC) and Shell (AMS: RDSA, NYSE: RDS.A) through Shell subsidiary Shell EP Offshore Ventures Limited, signed a deal which will see Shell acquire a 50% stake in the Fuerte Sur, Purple Angel and...

In the Colombian department of Huila, Ecopetrol has begun operations of its colloidal dispersion gels injection plant (CDG) in its Dina Cretaceous field.

Colombia’s economy continues to grow, and the country attracts more foreign direct investment every year. Just this October, over a billion US dollars in FDI was announced at investment Promotion Agency ProColombia’s 2019 Investment Summit. Colombia’s capital of 9 million souls,...

On November 21, massive protests took place throughout Colombia; the largest at least since 1977, over 40 years ago. Though limited labor union strikes and university student protests are fairly common in Colombia, this was a public action unseen in Colombia for at least two...

At the instruction of the Colombian President Ivan Duque’s finance ministry, Colombia’s state-controlled petroleum company, Ecopetrol (NYSE: EC, BVC: ECOPETROL) has called for an extraordinary meeting of shareholders for December 16th at 7:30am in Bogotá’s Corferias...

Colombian state-controlled petroleum company Ecopetrol (BVC: ECOPETROL, NYSE: EC) has announced the successful closing of a transaction announced July 31, where Ecopetrol entered a joint venture with Occidental Petroleum (NYSE: OXY) to develop 97,000 acres of unconventional...