BOGOTA, COLOMBIA - Ecopetrol S.A. (NYSE:EC), a significant player in Colombia's petroleum industry, has shown promising operational and financial results in the first quarter of 2024.
The company reported an increase in production to 741,000 barrels of oil equivalent per day and declared the commercial viability of the Arrecife gas field. Despite facing market challenges, Ecopetrol recorded an EBITDA of COP 14.2 trillion and a net income of COP 4 trillion for the quarter, while its U.S. trading segment generated a net profit of $28.5 million.
Ecopetrol's shares are traded on the New York Stock Exchange, and the company is recognized as one of the primary petroleum and natural gas providers in Colombia.
Additionally, Ecopetrol has also made strides in environmental, social, and governance goals, achieving reductions in CO2 emissions and implementing responsible water management practices. The company disclosed a three-year investment plan for 2024-2026, amounting to $20.2 billion, which will focus on hydrocarbons and alternative energy sources.
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