Ecopetrol Receives International Award for Green Procurement Strategy
October 11, 2011 at 19:38 PM EDT
BOGOTA, Colombia, Oct. 11, 2011 /PRNewswire/ -- For its effectiveness in implementing its green procurement strategy and for having a classification system of its suppliers based on sustainability criteria, Ecopetrol (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP) has received the 2011 Sustainable Vendor Rating award in the Large Corporation category.
The prize was awarded on October 7th in the city of Cremona, Italy, during the 5th Buy Green International Forum organized annually by the coordination of the Agenda 21 for Italy, the Agency of the Social Economy of Italy -Adescoop-, and the Italian company Ecosistemi (an international consultant in green contracting issues).
21 companies were nominated in the category that was awarded for the first time this year. This prize recognizes the efforts of those public or private companies that exhibit the best experiences with Green Procurement and the Green Supply Chain in Italy and abroad.
The award allows Ecopetrol to use a logo of international recognition for two years that highlights the fact that its purchases are green and that it is the winner of the 2011 Sustainable Vendor Rating. The seal was granted by a scientific committee in which the Italian Ministry of Earth, Sea and Air participated.
Ecopetrol is the largest company in Colombia and a firm integrated into the petroleum chain, ranked among the 40 largest petroleum companies in the world, and one of the four principal petroleum companies in Latin America. In addition to Colombia, where it generates more than 60% of domestic production, it has a presence in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico). Ecopetrol is the owner of the largest refinery in Colombia, the largest part of the network of oil pipelines and multi-use pipelines in the country, and it is significantly increasing its involvement in biofuels.
This press release contains statements concerning business prospects, estimates of operating and financial results, and assertions concerning Ecopetrol's prospects for growth. These are all projections, and as such, they are based solely on the expectations of management with respect to the future of the company and its continuing access to capital to finance the company's business plan. The fulfillment of such estimates in the future depends on the behavior of the market, regulations, competition, and the performance of the Colombian economy and industry, among other factors; therefore, these projections are subject to change without prior notice.
For more information, please contact:
Director of Investor Relations
Media Relations (Colombia)
SOURCE Ecopetrol S.A.