Ecopetrol S.A. Discloses Communication from the Ministry of Finance and Public Credit
May 11, 2011 at 09:44 AM EDT
BOGOTA, Colombia, May 11, 2011 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; BVL: EC; TSX: ECP) ("Ecopetrol" or the "Company") has received from the Colombian Ministry of Finance and Public Credit a press communication regarding the Request for withdrawal of Senate Bill 207 of 2010, regarding the sale of a share of the interest held by the Nation in Ecopetrol S.A.
Ecopetrol is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 40 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice.
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Media Relations (Colombia)
Unofficial English Translation:
Bogota, May 10 of 2011
Mr. JAVIER GENARO GUTIERREZ PEMBERTHY
Re: Request for withdrawal of Senate Bill 207 of 2010
I would like to bring to your attention and that of the market the request submitted by this Ministry to the Honorable Congress of the Republic of Colombia for the withdrawal of Senate Bill 207 of 2010 "Regarding the sale of a share of the interest held by the Nation in Ecopetrol S.A."
Signed by Dr. Juan Carlos Echeverry Garzon,
SOURCE Ecopetrol S.A.