#Colombia #Bogota #Ecopetrol S.A. #Corporate Governance #Código País

Ecopetrol S.A. Submits 2024 Corporate Governance Report

Ecopetrol S.A., Colombia's largest company and a major integrated energy player in the Americas, has recently submitted its Report on the Implementation of Best Corporate Practices, known as "Código País," to the Financial Superintendency of Colombia. This report delineates the corporate governance measures that the company has adopted and implemented throughout the fiscal year from January 1, 2024, to December 31, 2024.

Significance of the Report

This report signifies Ecopetrol's commitment to transparency and good corporate governance, essential for maintaining investor confidence and regulatory compliance. The submission of the Código País Survey has been signed digitally by the company's Legal Representative, ensuring a streamlined and efficient process that adheres to the recent trends in corporate reporting.

Ecopetrol’s most recent report can be accessed via their official website, ensuring that stakeholders and the public have access to important information regarding the company's governance practices. Furthermore, the report is also available on the website maintained by the Financial Superintendency of Colombia, which reinforces regulatory oversight and public trust in corporate operations.

Overview of Ecopetrol S.A.

With a workforce of over 18,000, Ecopetrol plays a crucial role in Colombia's economy, accounting for over 60% of the country's hydrocarbon production. Not only does it engage extensively in oil exploration and production, but it is also involved in transportation, logistics, and refining of hydrocarbons. The company's strategic initiatives include participating in energy transmission and managing real-time systems, further enhancing its operational capabilities.

In addition to its domestic prominence, Ecopetrol has expanded its reach internationally, tapping into oil fields in the U.S. (specifically in the Permian Basin and the Gulf of Mexico), Brazil, and Mexico. The company's subsidiary, ISA, facilitates its involvement in power transmission across Brazil, Chile, Peru, and Bolivia, while also managing road concessions and telecommunications initiatives in Chile.

Future Outlook

Ecopetrol’s report also contains forward-looking statements regarding its business prospects, operating results, and financial objectives. These statements are contingent upon various factors including market conditions, regulatory frameworks, and the overall performance of the Colombian economy and the energy sector.

As the company navigates the complexities of the energy market, it remains focused on maintaining a robust governance framework that can adapt to changing market dynamics while continuing to attract investments essential for funding its business plans.

Stakeholders looking for more information can reach out to the designated contacts in the company's Capital Markets and Corporate Communications sectors, ensuring timely responses to inquiries about the report and its implications.

Ecopetrol's proactive approach to governance and transparency serves as a model for other companies in the region, demonstrating the importance of aligning corporate practices with global standards and regulatory expectations.

Conclusion

As we progress into 2025, Ecopetrol S.A. is poised to bolster its position within the energy sector, backed by its commitment to corporate governance and responsible business practices. The submission of the Código País report is a significant step towards reinforcing stakeholder confidence and ensuring compliance with evolving corporate regulations.