Is Ecopetrol state owned?

Published by Charlie Davidson on

Is Ecopetrol state owned?

Colombia’s majority state-owned oil company Ecopetrol on Tuesday reported a soaring first-quarter net profit of 3.09 trillion pesos ($806.5 million) for this year, buoyed by improved oil prices and with the backdrop of a dismal comparative period in 2020.

What does Ecopetrol do?

products include motor fuels, fuel oils, and petrochemicals. The company was founded in 1948 and is headquartered in Bogota, Colombia.

Who owns Ecopetrol?

Colombia’s Ecopetrol is a mixed-ownership integrated oil and gas company that operates in the exploration and production, logistics and transportation, and refining, petrochemicals and biofuels sectors. Its largest shareholder is Colombia’s Ministry of Finance and Public Credit, which owns 88.5% of its shares.

Where is Ecopetrol located?

Bogota Colombia
Ecopetrol: National Oil Company in Colombia, Latin America Empresa Colombiana de Petróleos S.A. (Ecopetrol) is a National Oil Company located in Bogota Colombia, Latin America.

Who owns the oil in Colombia?

Empresa Colombiana de Petróleos, the state oil company of Colombia, is wholly owned by its government and is usually referred to by the abbreviation Ecopetrol. It was founded in 1951 but has its origins in the 1910s. Ecopetrol is the principal oil producing, refining, and transporting company in Colombia.

How many employees does Ecopetrol have?


Type Sociedad Anónima
Revenue US$35.52 billion (2012)
Net income US$ 8.3 billion (2012)
Total assets US$ 47.65 billion (2012)
Number of employees 9,315

Is Colombia running out of oil?

With years of production left at the current level estimated at six, Colombia is on top of this list of 10 countries that are running out of oil….Oil Prices of Today.

Crudes $/B
WTI 64.11
OPEC Basket 66.08

Does Colombia have oil?

Colombia confronts an energy crisis, due to dwindling production and reserves, which are projected to be exhausted in 6 years. Colombia’s oil production has fallen from over 1 million b/d in 2013 to roughly 780,000 b/d in 2020.

Which countries will run out of oil first?

10 Countries that Are Running Out of Oil

  • Colombia. Production (1,000 b/d): 1,005.6.
  • United Kingdom. Production (1,000 b/d): 879.7.
  • Norway. Production (1,000 b/d): 1,567.4.
  • United States. Production (1,000 b/d): 9,430.8.
  • Mexico. Production (1,000 b/d): 2,266.8.
  • Indonesia. Production (1,000 b/d): 690.1.
  • Angola.
  • Malaysia.

Is USA running out of oil?

The law of supply and demand dictates that, all else being equal, additional U.S. production must necessarily put downward pressure on world oil prices, just as additional production from OPEC or Canada would. …

Is Colombia richer than India?

India has a GDP per capita of $7,200 as of 2017, while in Colombia, the GDP per capita is $14,400 as of 2017.

Is Colombia an oil exporter?

Colombia: crude oil export value 2010-2020 Exports of crude oil and its products from Colombia amounted to approximately 8.75 billion U.S. dollars in 2020, a 45 percent decline in comparison to the previous year. Colombia ranks amongst the largest crude oil producers in Latin America.

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