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Ecopetrol Clarified Information Published in the Media Concerning Acquisition in the Retail Segment

BOGOTA, Colombia, July 13 /PRNewswire-FirstCall/ -- As a result of publication in different media outlets regarding the possibility of Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) acting in the retail market through the acquisition of a fuel distributor company, we wish to make it clear that, although Ecopetrol's strategic plans include the possibility of participating in such segment, currently the Company is not studying business opportunities in this field and is not preparing any specific acquisitions.

Ecopetrol is Colombia's largest integrated oil company and is among the top 40 oil companies in the world and the four largest oil companies in Latin America. Besides Colombia, where it accounts for 60% of total production, the Company is involved in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico). Ecopetrol has the principal refinery in Colombia, most of the network of oil and multiple purpose pipelines in the country, and it is considerably increasing its participation in biofuels.

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.


SOURCE Ecopetrol S.A.

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