Ecopetrol positions for the rebound
The twin shocks of Covid-19 and the oil price collapse have severely impacted the company’s bottom line, but it is well-placed to bounce back
Colombia’s state-controlled oil firm Ecopetrol suffered a 95pc drop in first quarter net profits, as the coronavirus pandemic and sunken oil prices ravaged the sector. But analysts say its commanding share of the Colombian oil industry means it remains resilient in a weak price environment. Ecopetrol brought in a $34.2mn net profit in the first three months of 2020 compared with $705.6mn in the first quarter of 2019. But, while net profit collapsed, Ebitda was down by only 28.5pc year-on-year, reaching $1.35bn compared with $1.89bn. “[This year began] with growth prospects and a defined path,” says Ecopetrol’s CEO, Felipe Bayon Pardo. “However, by the end of the first quarter, we confronte
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
