Ecopetrol S.A., the Colombian national oil company, reported its financial results for the third quarter of 2024, showcasing strong performance despite global challenges. The company achieved the third-highest EBITDA and revenue in its history, with revenues reaching COP 98.5 trillion, EBITDA of COP 42.3 trillion, and net income of COP 11 trillion. The EBITDA margin stood at 43%. The results were driven by record sales volumes, robust performance in its subsidiary Interconexión Eléctrica S.A. (ISA), improved crude spread, and a reduced tax rate. Ecopetrol also reported successful bond issuances in the international capital markets, indicating market confidence in its financial strength. Operational highlights included increased production, transported volumes, and refinery throughput. The company also noted the success of the Sirius...Show More

Ecopetrol S.A., the Colombian national oil company, reported its financial results for the third quarter of 2024, showcasing strong performance despite global challenges. The company achieved the third-highest EBITDA and revenue in its history, with revenues reaching COP 98.5 trillion, EBITDA of COP 42.3 trillion, and net income of COP 11 trillion. The EBITDA margin stood at 43%. The results were driven by record sales volumes, robust performance in its subsidiary Interconexión Eléctrica S.A. (ISA), improved crude spread, and a reduced tax rate. Ecopetrol also reported successful bond issuances in the international capital markets, indicating market confidence in its financial strength. Operational highlights included increased production, transported volumes, and refinery throughput. The company also noted the success of the Sirius-2 appraisal well and the entry of the Orotoy station, which will support future reserves. Additionally, Ecopetrol is expanding its renewable energy portfolio, expecting to exceed 500 MW of total capacity by the end of 2024. The company also participated in COP16, emphasizing its commitment to environmental conservation and sustainability. The financial information in the report is unaudited and expressed in Colombian pesos (COP).