BOGOTÁ, Colombia, February 20, 2018 /CNW/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC) reports that on February 16, 2018, the Colombian Ministry of
Finance and Public Credit subscribed the Declaration of the Nation
in its role as Majority Shareholder of Ecopetrol S.A. for a 10 year
term. In this declaration the Nation acquires commitments as
majority shareholder allowing the company's minority shareholders
to benefit from good corporate governance practices.
The document's complete text may be consulted at this link:
http://www.ecopetrol.com.co/documentos/inversionistas/Declaración
del Accionista Mayoritario - MHCP - 16 de febrero.pdf
Ecopetrol is Colombia's
largest firm and is an integrated oil company that is among the 50
largest in the world and the four largest in Latin America. In addition to Colombia, where it generates over 60% of the
country's production, it is active in exploration and production in
Brazil, Peru and the United
States (Gulf of Mexico).
Ecopetrol operates the largest refinery in Colombia and most of the country's
oil-pipeline and polyduct network, and is significantly increasing
its share in bio-fuels.
This press release contains
statements relating to business prospects, estimates of operating
and financial results, and Ecopetrol's growth prospects. All are
projections, and therefore are based solely on management's
expectations of the company's future and its continuous access to
capital to finance the company's sales plan. Achieving these
estimates in the future depends on its performance under given
market conditions, regulations, competition, performance of the
Colombian economy and industry, among other factors; therefore,
they are subject to change without prior notice.
For further information,
contact:
Capital Markets Manager
Maria
Catalina Escobar
Telephone: +571-234-5190
Email: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Telephone: + 571-234-4329
Email: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.