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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.

During 2020, Latin American oil and gas companies' profitability is expected to decline to one third of 2019 levels, while cash flow is expected to remain under pressure through 2021 as recovery will likely be protracted, according to a new Fitch Ratings report.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced last week the Ecopetrol Group’s financial results for the first quarter of 2020, prepared in accordance with International Financial Reporting Standards (IFRS) applicable in Colombia. Table 1: Financial Summary of Income...

Fitch Ratings believes Frontera Energy's (TSX: FEC) cost cutting initiative and reduction in production volumes are positive developments to preserve the company's strong liquidity position.

Both the Colombian petroleum producers' industry group ACP and the petroleum workers' union UTIPEC are in agreement in their calls for flexibility in petroleum transportation prices in Colombia's indirectly government controlled transportation network, and decry CENIT's financing...

The collapse in oil prices has led ACP, Colombia's petroleum industry association to call on the country's government to allow flexibility in the regulated pipeline transportation costs, that now make up almost half the cost of a barrel of oil, says the trade group.

The Colombian government has clarified that foreign trade (import/export), agriculture, energy and mining activities may continue during the mandatory Coronavirus COVID-19 Curfew now in effect.

Finance Colombia's Loren Moss talks with Duleesha Kulasooriya, executive director of Deloitte's Center For The Edge on how disruptive transformation can benefit developing economies...but the right strategy is the key to success.