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Reuters
07-05-2025
- Business
- Reuters
Colombia's Ecopetrol plans $233 million in cost cuts as lower oil prices bite
The logo of Ecopetrol is displayed in an Ecopetrol oil field in Barrancabermeja, Colombia October 11, 2024. REUTERS/Nelson Bocanegra Purchase Licensing Rights , opens new tab Companies Ecopetrol SA Follow BOGOTA, May 7 (Reuters) - Colombia's state oil firm Ecopetrol ( , opens new tab is planning to cut some 1 trillion pesos ($233 million) in costs and expenses and signaled more flexibility in its investment plan for this year, Chief Executive Ricardo Roa said on Wednesday. The company faces falling oil prices that ate into its first-quarter profits. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. ($1 = 4,283.62 Colombian pesos) Reporting by Nelson Bocanegra; Editing by Gabriel Araujo Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
Reuters
06-05-2025
- Business
- Reuters
Colombia's Ecopetrol posts 22% profit drop in Q1
The logo of Ecopetrol is displayed in an Ecopetrol oil field in Barrancabermeja, Colombia October 11, 2024. REUTERS/Nelson Bocanegra Purchase Licensing Rights , opens new tab Companies Ecopetrol SA Follow May 6 (Reuters) - Colombia's majority state-owned oil producer Ecopetrol ( , opens new tab reported on Tuesday a 22% net profit slump in the first quarter to reach 3.13 trillion Colombian pesos (around $728 million), compared to the year-ago period. The energy company's total sales for the three-month period came in at 31.37 trillion pesos. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. ($1 = 4,297.0000 Colombian pesos) Reporting by Sarah Morland; Editing by Natalia Siniawski Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
