Ecopetrol reports on the subscription of the Declaration of the Nation in its role as Majority Shareholder
February 20, 2018 at 01:14 AM EST
BOGOTÁ, Colombia, February 20, 2018 /PRNewswire/ -- 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:
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.
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SOURCE Ecopetrol S.A.