Ecopetrol S.A. is the largest company in Colombia and a leading integrated energy company in the Americas. It specializes in hydrocarbon production, transportation, refining, and petrochemicals, while also holding significant positions in energy transmission, toll roads, and telecommunications. Ecopetrol operates both domestically and internationally, with activities spanning Colombia, the United States, Brazil, Mexico, Chile, Peru, and Bolivia.
- Upstream - Focuses on exploration and production of hydrocarbons, including drilling activities in Colombia and strategic basins such as the Permian basin and Gulf of Mexico in the United States, as well as Brazil and Mexico.
- Downstream - Engages in refining and petrochemical activities, producing fuels and other chemical products for various industries.
- Midstream - Manages transportation and logistics systems for hydrocarbons, ensuring efficient delivery across Colombia.
- Energy Transmission and Toll Roads - Operates energy transmission systems in Brazil, Chile, Peru, and Bolivia, and manages road concessions such as the Barranquilla-Cartagena coastal highway.
- Telecommunications - Expands coverage and reach in Colombia and Peru through ISA and its subsidiaries.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Alfonso Camilo Barco Muñoz Executive | Chief Financial Officer (CFO) | Alfonso Camilo Barco Muñoz is the Chief Financial Officer (CFO) of Ecopetrol and also serves as the Corporate Vice President of Finance and Sustainable Value. He was appointed as an alternate legal and commercial representative on August 30, 2024 and has signed several key certifications, including the Form 20-F for FY 2024. | ||
Bayron Triana Arias Executive | Executive Vice President of Energy for the Transition | Bayron Triana Arias is the Executive Vice President of Energy for the Transition at EC, officially appointed on August 1, 2025 after acting from May 10, 2025. With over 18 years of experience in the energy sector, he has led significant initiatives in energy transition. | ||
Diana Marcela Jiménez Executive | Director of Institutional Relations and Communications | Diana Marcela Jiménez is the Director of Institutional Relations and Communications at EC since May 1, 2025. Previously, she served as Regulatory Strategy Manager at EC and held executive roles at Enel Colombia, Emgesa, and Codensa. | ||
Julián Fernando Lemos Executive | Corporate Vice President of Strategy and New Business | Julián Fernando Lemos has been serving as the Corporate Vice President of Strategy and New Business at EC since May 1, 2025, after holding an acting role since September 16, 2024; he previously served as Manager of Mergers and Acquisitions from December 2023. | ||
Julio César Herrera Executive | Vice President of Commercial and Marketing | Julio César Herrera is Vice President of Commercial and Marketing at Ecopetrol since May 1, 2025, with over 30 years of experience in the oil and gas industry. Previously, he served as Acting Vice President and held senior roles in marketing and finance within the sector. | ||
Ricardo Roa Barragán Executive | Chief Executive Officer (CEO) | Ricardo Roa Barragán is the Chief Executive Officer (CEO) of Ecopetrol S.A. and has been in this role since at least April 18, 2024, with no additional internal or external roles noted. | View Report → | |
Rodolfo Mario García Paredes Executive | Acting Corporate Compliance Director and Interim Anti-Money Laundering Compliance Officer | Rodolfo Mario García Paredes has served as an acting corporate compliance director at Ecopetrol since June 2025 and as acting corporate legal vice president since January 2025, with over 25 years of legal experience within the company. | ||
Sergio Andrés Moreno Acevedo Executive | Corporate Vice President of Science, Technology and Innovation | Sergio Andrés Moreno Acevedo is the Corporate Vice President of Science, Technology and Innovation at Ecopetrol, effective July 28, 2025, and has been serving in an acting capacity since January 27, 2025. With over 21 years of experience, he previously held roles as Manager of Innovation and ST+I Portfolio at Ecopetrol since 2023 and as Vice President of Digital at CENIT from July 2024 to January 2025. | ||
Alberto José Merlano Alcocer Board | Member of the Board of Directors | Alberto José Merlano Alcocer serves on Ecopetrol’s Board of Directors for the 2025-2029 term and participates in the Business, Corporate Governance and Sustainability, and Remuneration, Appointments, and Culture Committees, beginning his tenure in 2025. | ||
Álvaro Torres Macías Board | Board Member | Álvaro Torres Macías is a board member at Ecopetrol, having been appointed as Chairperson of the Audit and Risk Committee on November 28-29, 2024 and as Chairperson of the Technology and Innovation Committee on April 5, 2024. He also serves on the Business Committee as of April 2024. | ||
Angela María Robledo Gómez Board | Vice Chairwoman of the Board of Directors | Angela María Robledo Gómez serves as Vice Chairwoman of the Board at Ecopetrol since August 20, 2025 and holds membership on several key committees including the Business, Audit and Risk, HSE, Corporate Governance and Sustainability, and Technology and Innovation committees. | ||
Guillermo García Realpe Board | Chair of the Compensation, Nomination, and Culture Committee | Guillermo García Realpe served as Chairperson of the Board from April 2024 until his resignation in August 2025 and currently leads the Compensation, Nomination, and Culture Committee at Ecopetrol. He remains active on various committees, contributing significantly to the company’s governance. | ||
Hildebrando Vélez Galeano Board | Board of Directors Member | Hildebrando Vélez Galeano serves as a Board Director at Ecopetrol S.A. for the 2025–2029 term and is classified as Not Independent, while also serving on the Business, HSE, and Technology & Innovation Committees. | ||
Luis Felipe Henao Cardona Board | Member of the Board of Directors | Luis Felipe Henao Cardona is a board member at Ecopetrol for the 2025-2029 term, serving as Chairperson of the Corporate Governance and Sustainability Committee and as a member of the Remuneration, Appointments, and Culture Committee. | ||
Mónica de Greiff Lindo Board | Chairwoman of the Board of Directors | Mónica de Greiff Lindo is the Chairwoman of the Board of Directors at EC since August 20, 2025. Previously, she served as Vice-Chairperson of the Board of Directors and Chairperson of the Business Committee from April 5, 2024. | ||
Ricardo Rodríguez Yee Board | Member of the Board of Directors | Ricardo Rodríguez Yee is a board member of Ecopetrol for the 2025-2029 term and serves on the Audit and Risk, Business, and Technology and Innovation Committees. His board membership was confirmed at the General Shareholders' Meeting on March 31, 2025. | ||
Tatiana Roa Avendaño Board | Board Member | Tatiana Roa Avendaño serves on Ecopetrol's board committees including the Corporate Governance and Sustainability, Remuneration, Appointments and Culture, HSE, Technology and Innovation, and Audit and Risk committees as of April 2025. |
- Considering the 22% decline in crude prices that impacted EBITDA margins, how does management plan to offset this pressure in the second half of the year while maintaining production and necessary capex investments?
- With the Permian peak production and efficiencies driving a breakeven near $50 per barrel, what specific measures will be taken if prices drop below this level to safeguard production and reserves?
- In light of recent discussions on asset disinvestment, particularly regarding U.S. assets and select domestic portfolios, what rigorous criteria will the Board apply to determine which assets to divest, and how might these decisions influence long-term reserve targets?
- Amid operational challenges such as community protests and external infrastructural disruptions, what detailed strategies are in place to ensure these issues do not materially affect production targets or erode cash flow stability?
- Given the announced figures and expectations for dividends, royalties, and taxes—coupled with the pressures from lower prices—how will any potential discrepancies in these transfers impact overall shareholder returns and the company’s financial planning for 2026?
Research analysts who have asked questions during Ecopetrol SA earnings calls.
Alejandro Andrade
JPMorgan Chase & Co.
1 question for EC
Andres Cardona
Citigroup Inc.
1 question for EC
Andres Duarte
Corficolombiana
1 question for EC
Anne Milne
Bank of America Merrill Lynch
1 question for EC
Bruno Montanari
Morgan Stanley
1 question for EC
Catherine Ortiz
Davivienda
1 question for EC
Juan Jose Munoz
BTG Pactual
1 question for EC
Mason Bocanegra
Roblet
1 question for EC
Pablo Gonzalez
Energy News
1 question for EC
Ricardo Sandoval
Bancolombia
1 question for EC
Recent press releases and 8-K filings for EC.
- S&P Global Ratings maintained Ecopetrol S.A.'s global credit rating at BB+ with a negative outlook on June 4, 2025.
- The company's Stand Alone Credit Profile (SACP) rating was lowered by S&P from bbb- to bb+.
- S&P cited lower oil prices and exchange rate volatility as factors impacting financial performance, estimating the debt/EBITDA ratio would remain above 2.0.
- S&P positively highlighted Ecopetrol's strategy focused on growth prospects, reserve replenishment, and strengthening of the investment portfolio.