Latest news with #RicardoRoa
Bloomberg
5 days ago
- Business
- Bloomberg
Ecopetrol Spying Probe Adds Fuel to Colombia Corruption Storm
Colombian prosecutors are probing an Ecopetrol SA contract tied to surveillance of the company's own executives, turning up pressure on CEO Ricardo Roa and President Gustavo Petro. Authorities opened a preliminary investigation into a contract at the state-run oil giant that aimed to monitor communications among its top executives and board members, local media including El Espectador reported Tuesday.
Yahoo
23-05-2025
- Business
- Yahoo
Ecopetrol Will Acquire Ten Renewable Energy Firms from Norway's Statkraft
CEO Ricardo Roa of Colombia's state-owned oil company Ecopetrol S.A. (NYSE:EC) stated on Tuesday that the two companies had reached an agreement to acquire ten wind and solar energy project development companies from Statkraft of Norway. A portfolio of renewable projects with a combined capacity of up to 1.3 gigawatts is part of the agreement, which aims to provide for the firm's domestic energy needs. There was no disclosure of the transaction's value. One project is now underway, and others have no set timeframe but are expected to begin in 2026 or 2027. Legal and regulatory approvals of the agreement are still pending. A fleet of tanker ships crossing the sea as they deliver oil and gas to their destinations. The acquisition reduces Ecopetrol S.A. (NYSE:EC)'s dependency on bilateral agreements and spot market purchases while assisting with its shift to low-emission energy. The projects are spread in the departments of La Guajira, Sucre, Cordoba, Caldas, and Magdalena. Roa claims that the agreement improves the business's energy independence in a market that is very competitive. Jose Castellanos, Statkraft's Colombian representative, stated that the sale marks the Norwegian company's complete withdrawal from the Colombian market. As part of a larger move toward renewable energy, Ecopetrol S.A. (NYSE:EC) also signed an agreement with AES Colombia in April to acquire a 49% stake in the Jemeiwaa Ka'I wind cluster and is currently negotiating the purchase of another wind project with Enel of Italy. While we acknowledge the potential of EC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EC and that has 100x upside potential, check out our report about this READ NEXT: and
Yahoo
22-05-2025
- Business
- Yahoo
Ecopetrol Will Acquire Ten Renewable Energy Firms from Norway's Statkraft
CEO Ricardo Roa of Colombia's state-owned oil company Ecopetrol S.A. (NYSE:EC) stated on Tuesday that the two companies had reached an agreement to acquire ten wind and solar energy project development companies from Statkraft of Norway. A portfolio of renewable projects with a combined capacity of up to 1.3 gigawatts is part of the agreement, which aims to provide for the firm's domestic energy needs. There was no disclosure of the transaction's value. One project is now underway, and others have no set timeframe but are expected to begin in 2026 or 2027. Legal and regulatory approvals of the agreement are still pending. A fleet of tanker ships crossing the sea as they deliver oil and gas to their destinations. The acquisition reduces Ecopetrol S.A. (NYSE:EC)'s dependency on bilateral agreements and spot market purchases while assisting with its shift to low-emission energy. The projects are spread in the departments of La Guajira, Sucre, Cordoba, Caldas, and Magdalena. Roa claims that the agreement improves the business's energy independence in a market that is very competitive. Jose Castellanos, Statkraft's Colombian representative, stated that the sale marks the Norwegian company's complete withdrawal from the Colombian market. As part of a larger move toward renewable energy, Ecopetrol S.A. (NYSE:EC) also signed an agreement with AES Colombia in April to acquire a 49% stake in the Jemeiwaa Ka'I wind cluster and is currently negotiating the purchase of another wind project with Enel of Italy. While we acknowledge the potential of EC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EC and that has 100x upside potential, check out our report about this READ NEXT: and Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
20-05-2025
- Business
- Reuters
Colombia's Ecopetrol to buy 10 renewable energy firms from Norway's Statkraft
BOGOTA, May 20 (Reuters) - Colombia's Ecopetrol said on Tuesday it signed an agreement with Norway's Statkraft to buy 10 wind and solar energy project development companies. Ecopetrol Chief Executive Ricardo Roa said the portfolio of projects could total up to 1.3 gigawatts in capacity.
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
