Latest news with #BVC
Yahoo
2 days ago
- Business
- Yahoo
Ecopetrol Posts Strong H1 2025 Results With Record Output
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reported solid financial and operational performance for the second quarter and first half of 2025, achieving its highest semiannual production since 2015, advancing cost efficiencies, and strengthening its energy transition portfolio. The Colombian state-controlled oil company delivered a record average production of 751,000 barrels of oil equivalent per day (boepd) in H1 and 755,000 boepd in Q2, driven by growth in the Caño Sur and CPO-09 fields and U.S. Permian operations. It also cut lifting costs below $12/bbl through operational and energy efficiency measures, a target it aims to maintain through year-end. Operational and Energy Transition Progress Transport volumes averaged 1.088 million barrels/day, while refining runs reached 405,000 barrels/day after maintenance completions and operational upgrades. Ecopetrol deepened its clean energy push with the full acquisition of the 205 MW Windpeshi wind farm in La Guajira and initiated Colombia's first long-term LNG import sales contracts, totaling 60 GBTUD over four to five years. Investment and Efficiency Drive H1 2025 investments reached $2.85 billion, 86% allocated to growth and long-term value creation. Geographic distribution was 62% in Colombia, 17% in Brazil, 15% in the U.S., and 6% in other regions. Efficiency programs delivered COP 2.2 trillion in benefits, exceeding targets by 27%, with 80% of the annual cost-reduction plan achieved by June. The company advanced 56% toward its $500 million CapEx flexibility goal and implemented measures to bolster liquidity, including COP 7.6 trillion in early FEPC collections and $935 million in currency hedges. Financial Performance Ecopetrol posted an EBITDA margin of 38% for Q2 and 40% for H1—above industry peers—despite a 22% drop in crude prices. Net income for Q2 was COP 1.8 trillion, which would have been COP 3.2 trillion absent adverse external factors such as weaker oil prices, inflation, and new taxes. H1 net income totaled COP 4.9 trillion. Leverage remained below targets, with gross debt-to-EBITDA at 2.4x (1.7x excluding subsidiary ISA) and net debt-to-EBITDA at 2.2x (1.6x excluding ISA). Free cash flow stood at COP 3.1 trillion, with total cash at COP 13.1 trillion by June's end. Challenges and Sustainability Commitments External headwinds included lower oil prices, currency volatility, inflation, and domestic disruptions such as infrastructure blockades. ISA's results were pressured by Brazilian tariff adjustments and portfolio deterioration at subsidiary AIR-e. On the sustainability front, Ecopetrol invested COP 180 billion in territorial development, paid COP 8.8 trillion in dividends (10% yield), reduced GHG emissions by 242,000 tonnes CO?e—132% above target—and reused 44 million cubic meters of water, covering 82% of operational needs. Outlook For H2 2025, Ecopetrol plans to save COP 1 trillion in costs, generate over COP 5 trillion in efficiencies, and maintain lifting costs under $12/bbl. The company will continue optimizing working capital to meet its COP 2 trillion annual target and pursue disciplined capital allocation to capture full CapEx flexibility. Management emphasized resilience, adaptability to market conditions, and long-term value creation for shareholders and communities. Read this article on Sign in to access your portfolio
Wales Online
4 days ago
- Business
- Wales Online
Anguish as Anglesey's 'best Christmas event' cancelled with six reasons given
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info A popular Christmas festival on Anglesey has been cancelled this year. Organisers said the two-day Beaumaris Victorian Christmas (BVC) event has been hit by rising costs, falling revenue and capacity issues. Regular visitors were left bereft by the news, describing it as a festive highlight on Anglesey and among the island's best annual events. Some enthusiasts come from as far away as Manchester and a few had already booked accommodation for this year's festival. Previous outings have attracted up 4,000 people, some donning historical costumes, in the hope of getting a dose of traditional Christmas spirit. Sights and sounds include Victorian carriage rides and Queen Victoria parades, with hot chestnuts, mulled wine and toffee apples adding extra festive cheer. This year's event was scheduled for November 29-30. In an online statement, its organising committee announced 'with sadness' this year's festival would not now be taking place. Six reasons were given for the cancellation. These included Beaumaris' new one-way system, which will prevent the use of Rating Row for stallholders. This street was used for the event in the last two years and practical alternatives could not be found. Interior space was also harder to come by. A new community café in the David Hughes Centre has reduced the venue's capacity, while the town's Canolfan is already booked for the event weekend by The Druids Society. Road closures have become most expensive too. Anglesey Council is now stipulating the use of a professional signage company, adding up to £2,000 to cost, said BVC. Join the North Wales Live Whatsapp community now (Image: Richard Birch/North Wales Live) More controversially, organisers have blamed revenue falls on parking charges and access restrictions on The Green, a grassed area on the seafront. Although Beaumaris Victorian Christmas is a free event, donations on arrival are 'greatly appreciated' to help with running costs. At last year's event, bucket collections totalled just £312.67 over the two days. On social media, a BVC spokesperson said: 'This was as a result of our not being able to obtain free use of The Green – and the Beaumaris Town Council charging full rates for parking during the event weekend. 'At the 2023 event we were able to ask for a donation at the entrance to the car park which helped tremendously, with nearly everyone who entered making a donation.' To some extent, the organisers - all volunteers - have also become fed up with all the hassle. "The 2023 and 2024 events were besieged by issues and objections which added unnecessary stress and difficulties - which affected the planning and running of the event," they said. Alternative options are being discussed for the November 29-30 weekend but these are not yet confirmed. It's not yet known if the event will return next year. Apologising to the 'thousands of people' who support the much-loved festival, the BVC said that, in view of the various contributing factors, cancelling the event was a 'sensible decision'. The spokesperson added: 'Combining the above with the fact that the committee is run by a small group of volunteers, all of whom have businesses of their own, and who have limited free time to devote to the planning, let alone the physical running of the weekend, we feel that the sensible decision is to cancel the event rather than lose money and/or put on a sub-standard event.' A Holyhead man was devastated by the news. 'Terrible!' he said online. 'It's such a wonderful event and of all I've attended it's the best the island has to offer – it truly shows great community spirit at its heart." Echoing many, a woman said it was 'such a shame'. She added: 'I've come to see that weekend as the start of Christmas celebrations.' Sign up for the North Wales Live newsletter sent twice daily to your inbox See what's on in your area
North Wales Live
4 days ago
- Business
- North Wales Live
Anguish as Anglesey's 'best Christmas event' cancelled with six reasons given
A popular Christmas festival on Anglesey has been cancelled this year. Organisers said the two-day Beaumaris Victorian Christmas (BVC) event has been hit by rising costs, falling revenue and capacity issues. Regular visitors were left bereft by the news, describing it as a festive highlight on Anglesey and among the island's best annual events. Some enthusiasts come from as far away as Manchester and a few had already booked accommodation for this year's festival. Previous outings have attracted up 4,000 people, some donning historical costumes, in the hope of getting a dose of traditional Christmas spirit. Sights and sounds include Victorian carriage rides and Queen Victoria parades, with hot chestnuts, mulled wine and toffee apples adding extra festive cheer. This year's event was scheduled for November 29-30. In an online statement, its organising committee announced 'with sadness' this year's festival would not now be taking place. Six reasons were given for the cancellation. These included Beaumaris' new one-way system, which will prevent the use of Rating Row for stallholders. This street was used for the event in the last two years and practical alternatives could not be found. Interior space was also harder to come by. A new community café in the David Hughes Centre has reduced the venue's capacity, while the town's Canolfan is already booked for the event weekend by The Druids Society. Road closures have become most expensive too. Anglesey Council is now stipulating the use of a professional signage company, adding up to £2,000 to cost, said BVC. More controversially, organisers have blamed revenue falls on parking charges and access restrictions on The Green, a grassed area on the seafront. Although Beaumaris Victorian Christmas is a free event, donations on arrival are 'greatly appreciated' to help with running costs. At last year's event, bucket collections totalled just £312.67 over the two days. On social media, a BVC spokesperson said: 'This was as a result of our not being able to obtain free use of The Green – and the Beaumaris Town Council charging full rates for parking during the event weekend. 'At the 2023 event we were able to ask for a donation at the entrance to the car park which helped tremendously, with nearly everyone who entered making a donation.' To some extent, the organisers - all volunteers - have also become fed up with all the hassle. "The 2023 and 2024 events were besieged by issues and objections which added unnecessary stress and difficulties - which affected the planning and running of the event," they said. Alternative options are being discussed for the November 29-30 weekend but these are not yet confirmed. It's not yet known if the event will return next year. Apologising to the 'thousands of people' who support the much-loved festival, the BVC said that, in view of the various contributing factors, cancelling the event was a 'sensible decision'. The spokesperson added: 'Combining the above with the fact that the committee is run by a small group of volunteers, all of whom have businesses of their own, and who have limited free time to devote to the planning, let alone the physical running of the weekend, we feel that the sensible decision is to cancel the event rather than lose money and/or put on a sub-standard event.' A Holyhead man was devastated by the news. 'Terrible!' he said online. 'It's such a wonderful event and of all I've attended it's the best the island has to offer – it truly shows great community spirit at its heart."
Business Recorder
5 days ago
- Politics
- Business Recorder
CJP for steps to implement BVC
ISLAMABAD: Chief Justice of Pakistan (CJP) emphasised on structured institutional support to Bar Councils for the effective implementation of the mandatory Bar Vocational Course (BVC). In line with the inclusive reform implementation strategy envisioned by CJP Yahya Afridi, on Saturday, a meeting was convened at the Federal Judicial Academy (FJA) to deliberate on structuring institutional support to Bar Councils. The meeting was attended by representatives of the Bar Councils, the Director Legal Education and Directors General of the Judicial Academies. Discussions were held in an atmosphere of mutual understanding and shared commitment to strengthening the professional standards of the legal fraternity. Participants expressed unanimity in their resolve to advance this initiative through a structured and coordinated approach, aimed at enhancing the quality of legal education and professional training for aspiring advocates. To prepare a comprehensive and sustainable strategy for the BVC, a sub-committee was constituted comprising the Director Legal Education, a representative of the Bar Councils, and a representative of the FJA. The sub-committee has been tasked with presenting its recommendations at the next meeting, scheduled for October 2025. The meeting concluded on a positive note, with participants reaffirming their collective resolve to work in partnership towards a more just, inclusive, and citizen-centric justice system. Copyright Business Recorder, 2025
Toronto Star
31-07-2025
- Business
- Toronto Star
Canacol Energy Ltd. To Announce Second Quarter 2025 Financial Results on Thursday, August 7, 2025; Hold Conference Call on Friday, August 8, 2025
CALGARY, Alberta, July 31, 2025 (GLOBE NEWSWIRE) — Canacol Energy Ltd. ('Canacol' or the 'Corporation') (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) will announce its second quarter 2025 financial results on Thursday, August 7, 2025, after the market closure. Senior Management will hold a Conference Call to discuss results on Friday, August 8, 2025, at 8:00 a.m. MT / 10:00 a.m. ET. The conference call may be accessed by dial in or via webcast:
