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Ecopetrol refinances $1.25 billion USD in debt and secures a $1.6 trillion COP subsidy payment from the Colombian government.

The rating reflects the company's status as the main producer of oil and gas in Colombia, with approximately 60% of the country's production.

The Finance Ministry met with transport companies and stated that, if there is no increase in the price of diesel, this will add another $2.6 billion USD to the FEPC by the end of 2024.

Throughout Colombia, gasoline prices are now seen in a range between 11,100 to 11,300 pesos per gallon (roughly $2.40-2.40 per gallon).

In November, 155 drilling & workover rigs were registered, exceeding the pre-pandemic activity of 136 rigs in January 2020.