Ecopetrol ADR Representing 20 Ord Shs EC

Energy Oil & Gas Integrated

Ecopetrol S.A. is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company's segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company's Exploration and Production segment includes exploration, development and production activities in Colombia and abroad. The Company's Transportation and Logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products, including diesel and biofuels. The Company's main crude oil pipeline systems' operating capacity is approximately 1.34 million barrels per day (BPD). The Company's main refineries are the Barrancabermeja refinery, which it directly owns and operates, and a refinery in the Free Trade Zone in Cartagena that is operated by Reficar S.A., a subsidiary of the Company. The Company also owns and operates two other minor refineries: Orito and Apiay.

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Ecopetrol ADR Representing 20 Ord Shs

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Post by satupleon Nov 17, 2023 10:27am

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Post# 35740978

EC going up today, must likely

due to Colombia's Constitutional Court declaring null an article of Goverment's proposed tax reform in which it declared royalties paid by extraction companies woudln't be discounted from tax paid by companies.

As I understand in the 3Q report EC included payments due to both royalties and taxes

https://www.portafolio.co/economia/impuestos/corte-tumbo-la-no-deducibilidad-de-regalias-de-la-tributaria-592440

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