Fitch highlighted the company's linkage to the Republic of Colombia, which currently owns 88.5% of the voting shares, as well as the strategic importance of the company for the country.
S&P left Ecopetrol's individual standalone credit rating at 'bbb- ' with stable outlook, the company announced last week, after its acquisition of electrical grid operator ISA.
Monday saw the latest surveys released by Fedesarrollo - the Financial Opinion Survey (FOS) & Stock Market Confidence Indices (SMCI) - for the month of June. The overall confidence number stands at 96.97% which is up 5.1% from May - breaking that down we see other improvements.
The 3rd "Colombia Oil & Gas" Online Business Congress and 1-2-1 meetings is an international business platform bringing together flagship oil and gas companies from Latin America and world suppliers for the industry. The Colombia Oil & Gas 2021 Online Business Congress enables...
Ecopetrol reports sales down 23.6% year-on-year for the 4th quarter of 2020, to 14,190 trillion Colombian pesos, or 3.95 billion USD. Full year sales are down 29.4% to 13.8 billion. The company was able to report net income of 1.7 trillion pesos, or $471 million USD.
Colombia's petroleum industry group projects investment in oil and gas exploration and production (E&P) for 2021 between $3.1 and $3.45 billion USD, 51% higher than that of 2020.
The rating agency highlighted Ecopetrol's liquidity profile, supported by its cash generation, strong access to capital markets and adequate debt maturity profile.