Davivienda Corredores points out that the fall in oil prices and the increase in taxes have impacted profits, which in 2024 dropped 21% to COP$14.9 billion, the worst result since the pandemic.<\/p>\n\n
You may read: Sustained growth: exports of non-mining goods increase by 9.6%<\/strong><\/a><\/p>\n\n The Board of Directors approved a payout of 58.9%<\/strong>, and the payment to minority shareholders will be made in two installments: on April 4 and June 27. For the Government, the disbursement will be made until December 31, in line with the obligations of the Fuel Price Stabilization Fund (Fondo de Estabilizaci\u00f3n de Precios de los Combustibles, FEPC).<\/p>\n\n The Board also proposed a reserve of COP$16.6 billion to strengthen the company\u2019s financial sustainability. It should be noted that, since 2021, Ecopetrol has had to distribute dividends above its profits to avoid affecting the Government\u2019s cash flow, which has generated indebtedness and a reduction in investments. However, adjustments in fuel prices since 2022 have helped to reduce the FEPC deficit and improve cash flow.<\/p>\n\n As for the Board of Directors, Gonzalo Hern\u00e1ndez will leave his position after completing the cycle initiated in the administration of Jos\u00e9 Antonio Ocampo. The incorporation of the former Minister of Housing, Luis Felipe Henao, nominated by the pension funds, and Ricardo Rodr\u00edguez Yee, nominated by the hydrocarbon producing departments, will be voted.<\/p>\n\n Ecopetrol, Colombia\u2019s main oil company, has recently experienced a decline in its financial results. In 2024, the company\u2019s net income fell by 21.7% compared to the previous year, standing at 14.9 trillion pesos (approximately $3,627.9 million)<\/strong>.<\/p>\n\n This drop is due to factors such as lower oil prices, inflation and the impact of the exchange rate. In addition, sales revenues decreased by 6.8%, reaching 133.3 billion pesos<\/strong>, while EBITDA decreased by 10.8%, reaching 54.1 billion pesos.<\/p>\n\n Ecopetrol\u2019s president, Ricardo Roa, explained in a press conference that 49% of the drop in profit in 2024 is due to the exchange rate, 15% to inflation and 36% to the variation in oil prices.<\/p>\n\n Despite these challenges, Ecopetrol\u2019s production reached 745,800 barrels per day in 2024, the highest figure in nine years. For 2025, the company has announced an investment plan that ranges between 24 and 28 billion pesos, with the objective of strengthening its position in the energy market.<\/p>\n\n In addition, Ecopetrol is exploring new investments in renewable energy, including possible acquisitions of wind projects managed by multinationals. The company currently generates 60% of the energy it consumes and is looking to expand its energy matrix to include more wind projects, with announcements expected in the coming weeks or months.<\/p>\n\n However, the company also faces internal challenges. Ricardo Roa has been under scrutiny for alleged irregularities, including his partner\u2019s alleged interference in company decisions and accusations of misuse of the company for political purposes. These controversies have affected the company\u2019s reputation and raised concerns about its governance.<\/p>\n\n The uncertainty has impacted the share price, which has been volatile in recent months. For example, on March 4, 2025, the share reached a low of COP$1,880. As of March 21, 2025, its price stood at COP$2,130, reflecting a recovery of 1.43% with respect to the previous close.<\/p>\n\n You may also read: Fiscal deficit in 2025: Spending rises and risks to economic stability worsen<\/strong><\/a><\/p>\n\n The Uni\u00f3n Sindical Obrera (USO), Ecopetrol\u2019s main workers\u2019 union, has repeatedly expressed its concern about the company\u2019s financial situation and current hydrocarbons policies. USO emphasizes the need to reactivate hydrocarbon exploration and production in Colombia to guarantee the country\u2019s sustainability and energy self-sufficiency.<\/p>\n\n Cesar Loza, president of the USO, has pointed out that decisions such as the suspension of new exploration contracts and opposition to unconventional projects have weakened Ecopetrol\u2019s financial position, affecting both the Nation and minority shareholders.<\/p>\n\n In addition, the USO has criticized Ecopetrol\u2019s failed international investments that have generated significant losses and has warned about the reduction in investments destined to hydrocarbon production, which could compromise the company\u2019s future capacity.<\/p>\n\n In response to these concerns, Ricardo Roa has assured that the company has no intention of abandoning the hydrocarbons business and remains committed to its development.<\/p>\n\n![\"resignations](\"https:\/\/mascolombia.com\/wp-content\/uploads\/2024\/03\/diego-otero-sobre-ecopetrol-1024x768.jpg\" "\\"\\"")
This is Ecopetrol\u2019s financial situation<\/h2>\n\n
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What does the union say?<\/h2>\n\n
![\"energy](\"https:\/\/mascolombia.com\/wp-content\/uploads\/2023\/11\/precios-de-la-energia-mayor-inflacion-en-colombia-1024x683.jpg\" "\\"\\"")
Corruption in Colombia: possible diversion of 1.2 trillion in the health sector reported<\/a><\/blockquote>