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Tag: Ecopetrol

Ecopetrol: it’s not repo financing

Jan 28, 2013 7:00pm by Pan Kwan Yuk
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It is one of the more peculiar corporate stories in Latin America.

How in the world can a company like Colombia’s Ecopetrol boast a bigger market capitalisation ($128.6bn as of Monday) than its Brazilian counterpart Petrobras ($126.1bn) which produces three times as much oil and gas?

One conspiracy theory that has been doing the rounds is that Ecopetrol’s shares are being used in repo trades – where brokers and investors use the stocks as collateral to borrow money and buy even more shares, artificially inflating the price. Continue reading »

Tags: , Posted in Brazil, Colombia, LatAm |

Ecopetrol passes Petrobras – again

Jan 28, 2013 5:22pm by Andres Schipani
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Photo; Bloomberg

Time for some smug smiles in Colombia, perhaps, and some gnashing of teeth in Brazil: Ecopetrol has once again surpassed Petrobras as the largest listed energy company in Latin America by market capitalisation, even though production at Petrobras is about three times bigger.

How can that be? Continue reading »

Tags: , , , Posted in Colombia, LatAm |

Ecopetrol: peace and growth

Oct 31, 2012 4:07pm by Andres Schipani
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Never mind its recent fall in profits. Many energy companies would drool at Ecopetrol’s impressive growth rate so far.

Since 2008, Colombia’s state-controlled oil company has increased production at a rate of 16 per cent a year. “We are focused on sustaining this growth rate, which is not easy to do,” Javier Gutiérrez, Ecopetrol’s chief executive, told beyondbrics. Continue reading »

Tags: , Posted in Colombia, LatAm |

Colombia: 41bn barrels of oil by 2030?

Oct 12, 2012 10:18pm by Andres Schipani
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Full-steam ahead, that’s how Colombia’s government is determined to set their “energy locomotive”, as they call their ambitious energy plans.

The Andean country is already the fourth-biggest oil exporter in the region, having almost doubled its production since 2006 to 956,312 barrels of oil a day. Continue reading »

Tags: , , Posted in Colombia, LatAm |

Essar buys $1.2bn Ecopetrol crude

Aug 16, 2012 8:31am by Neil Munshi
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India’s Essar Oil will buy 12m barrels of crude oil from Colombia’s Ecopetrol over a year for $1.2bn, according to a person familiar with the deal.

Essar declined to comment, but Reuters also reported that Ecopetrol confirmed it had sent its first shipment of 2m barrles of oil on July 29, and that it would arrive 25 days later. Continue reading »

Tags: , , Posted in Asia, Colombia, India |

Ecopetrol: bigger than Petrobras?

May 17, 2012 3:49pm by Jonathan Wheatley
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Ecopetrol, the Colombian national oil company with proven reserves of about 1.8bn barrels, has a bigger market capitalisation than Petrobras, the Brazilian giant with 18bn barrels of reserves and, potentially, multiples of that in its vast new pre-salt oil fields.

That, at least, is what a São Paulo consultancy announced this week. And even if the boffins’ numbers don’t quite add up, something remarkable is going on. Continue reading »

Tags: , , , Posted in Brazil, LatAm |

BB: time to register

Dear beyondbrics readers,

After more than three years of fully open access, we are taking the step of asking our readers to register on FT.com to read our articles. Beyondbrics will still be free but we'd like to know a bit more about you, our readers. Other FT blogs (including Alphaville) already do the same thing. Registration is active on beyondbrics from May 6.

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Global equities macromap

Number of the day

-0.2% Fall in Polish retail sales in April, rather worse than 1.1 per cent growth expected.

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