Colombia's economy has been hit by protests
Ecopetrol thrives despite civil turmoil
The company’s balance sheet benefitted from the commodity price upsurge in Q2, helping offset production outages
Colombian NOC Ecopetrol exited Q2 posting $951mn in net income, an impressive $947mn increase over the same quarter the previous year, despite national protests and blockades disrupting operations and causing significant financial losses. Sales revenues were up by 56pc over the same quarter in 2020 as healthy commodity prices helped make up for a slight drop in production. Total output fell by 2.5pc year on year, mainly due to the widespread social unrest, which Ecopetrol estimates cost the company $71.5mn in net income. “The result for the second quarter of 2021 is the best ever recorded in the history of the Ecopetrol Group, with consolidated revenue of COP19.4tn ($4.97bn), an Ebitda of C
Also in this section
11 August 2025
The administration is pushing for deregulation and streamline permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
