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The early payment is the result of what Ecopetrol called a “solid cash position" that left it with more than $6 billion USD on hand at the end of the first quarter.

Ecopetrol said members of the Alto Unuma indigenous community have “taken by force” an onsite water disposal plant at Rubiales oilfield.

Moody's cited Ecopetrol's "improving credit metrics and strong liquidity," but recognized the remaining risk associated with its low 6.7 years of reserve life.

Ecopetrol is partnering with Pemex on one block and the Mexican subsidiary of Malaysian oil company Petronas on the other concession.

Both prospects are within the company's CPO-9 block and part of a contract between Ecopetrol and Repsol subsidiary Talisman.

As it celebrates its 32nd anniversary this weekend, the institute announced plans for a new cement laboratory and upgrades at its rock mechanics lab.

Colombian energy company Bioenergy has signed its first commercial deal to begin selling ethanol from its plant in Meta to Bogotá-based oil and gas leader Terpel.

On top of the environmental and health risks, Ecopetrol said that 617 wells are out of commission and oil output is down by more than 20,000 barrels per day.

Today's blockades in Santander have led to the loss of oil production while demonstrations in Meta earlier this week became violent.

Colombian Minister of Finance Mauricio Cardenas will sit on three of the four committees.