Ecopetrol
| Ecopetrol SA
|
|
|---|---|
 |
|
| legal form | Sociedad Anónima |
| ISIN | US2791581091 ( ADR ) |
| founding | August 25, 1951, as Empresa Colombiana de Petróleos July 18, 2003, renamed Ecopetrol SA |
| Seat |
Bogotá , Colombia
|
| management | Felipe Bayón Pardo ( CEO ) |
| Number of employees | 10,920 (2019) |
| sales | 70.8 billion COP = 17.5 billion US $ |
| Branch | Oil, gas & coal |
| Website | www.ecopetrol.com.co |
| Status: 2019 | |
Ecopetrol SA , formerly Empresa Colombiana de Petróleos SA , is an integrated Colombian oil, gas and coal company and 88.49% state-owned with headquarters in Bogotá . In terms of sales, Ecopetrol is the largest company in Colombia and one of the "Big Five" in Latin America.
Corporate development
In 1921 the Tropical Oil Company was founded. Their activities were taken over on August 25, 1951 by the company renamed Empresa Colombiana de Petróleos . In 2006, a controversial law was passed in the Colombian parliament allowing shares in the company to be purchased privately.
In September 1983 came the best news in the history of Ecopetrol and one of the best for Colombia: the discovery of the Caño Limón field, in connection with Occidental Petroleum , a deposit with an estimated 1,100 billion barrels . So the company began a new era and in 1986 Colombia became an oil exporting country again.
In 2003 the Colombian government restructured the oil company and renamed it Ecopetrol SA in order to internationalize it and make it more competitive. Over the years, Ecopetrol has become one of the top 50 oil companies in the world and the fourth largest in Latin America. The company is also involved in exploration and production activities in Brazil , Peru , the Gulf States, United States and Angola and owns the main refinery in Barrancabermeja , Colombia, most of the network of oil and multi-purpose pipelines in the country, petrochemical plants and a increasing participation in biofuels .
Ecopetrol has hydrocarbon - extraction fields in the center, the south, east and north of Colombia, two refineries, ports for export and import of fuels and crude oil on both coasts ( Pacific and Atlantic ) and a transport network of 8,500 kilometers of pipelines in the country, the production systems connect with major consumption centers and terminals.
Ecopetrol's oil production growth rate since 2006 was among the best in the world - with an exploration success rate of 24% in 2014. The discovery of the Kronos-1 and Orca-1 deposits off the coast of the Caribbean opened up new exploration opportunities opened. Ecopetrol was at its peak in 2012 and number 5 among the most valuable oil companies in the world. In the meantime, the company can only be found in 38th place. The Angola engagement has meanwhile been given up at a loss.
Individual evidence
- ↑ Nuestra Historia ecopetrol.com.co, accessed March 15, 2020 (Spanish)
- ↑ Ecopetrol SA bloomberg.com, accessed on March 15, 2020 (English)
- ↑ Composición del Comité Directivo ecopetrol.com.co, accessed on January 28, 2018 (Spanish)
- ↑ Ecopetrol SA (EC) Income Statement finance.yahoo.com. Accessed March 15, 2020 (English)
- ↑ Colombia evaluating selling stake in Ecopetrol reuters.com, from January 17, 2019 (English)
- ↑ Ecopetrol SA bloomberg.com, accessed on March 15, 2020 (English)
- ↑ Nuestra Historia ecopetrol.com.co. Accessed December 4, 2018 (Spanish)
- ↑ Neuestra Historia . ecopetrol.com.co. Accessed March 9, 2017 (Spanish)
- ↑ Refinería de Barrancabermeja ecopetrol.com.co, November 9, 2014 (Spanish)
- ↑ Press release Ecopetrol SA of July 3, 2014 (English)
- ↑ Ecopetrol to leave Angola as venture comes up dry seekingalpha.com, from December 4, 2015 (English)
Coordinates: 4 ° 37 '26.82 " N , 74 ° 4' 4.21" W.