12 Facts About Ecopetrol

Ecopetrol, formerly known as Empresa Colombiana de Petroleos S A is the largest and primary petroleum company in Colombia.

Ecopetrol belongs to the group of 25 largest petroleum companies in the world, and it is one of the four principal petroleum companies in Latin America.

Ecopetrol undertook activities in the oil chain as a state-owned industrial and commercial company in charge of administrating the nation's hydrocarbon resources, and grew as other concessions reverted and became part of its operation.

Nationalization of Ecopetrol was not smooth and met with some opposition and skepticism as to how the company could in fact be able to keep up with the complex and expensive operations without outside expertise in the changing international market.

Whereas, no one private company will be permitted to own more than 3 percent of the Ecopetrol shares put out for sale, and pension funds, mutual funds and pension autonomous' Ecopetrol funds not be able to acquire any more than 15 percent, during the first two rounds.

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Now Ecopetrol will be able to tackle an ambitious plan of investments estimated in 12.

Ecopetrol will be able to penetrate into the research, development and marketing of clean-energy technology and into the biofuels market.

Once Ecopetrol becomes a mixed stock-holding corporation, it will continue to be directed by the Stockholders General Assembly, the Board of Directors and the President of Society.

In Nov 2007, Ecopetrol held an initial public offering on the Colombian Stock Exchange, which raised $5.

On 18 September 2008 Ecopetrol announced the listing of its American Depositary Shares on the New York Stock Exchange .

Ecopetrol is a major part of that commodities growth, as it has $60 billion to invest in oil development.

In 2006, Ecopetrol completed 35 activities to promote their human rights participation.