In the first quarter of 2025 Ecopetrol registered a 22.1 percent drop in its net profit, which ended up being 3.1 billion pesos, if compared to the same period last year.
With this data, The company accumulates nine consecutive quarters of fall in its profits, a trend that began in the first three months of 2023.
As explained by the president of Ecopetrol, Ricardo Roa, The company’s net profit was seen in 800,000 million pesos for a lower price of the Brent. In addition, inflation subtracted 100,000 million pesos and variations in the exchange rate, 300,000 million pesos.
“We face an environment affected by exogenous variables, geopolitical tensions and mainly with a strong impact due to the fall in the prices of the Brent reference crude ”, Ricardo Roa highlighted.
Photo:EFE
Nonetheless, The company’s income had a slight recovery (0.2 percent) compared to the same period last year and added 31.4 billion pesos.
Besides, Ebitda reached 13.3 billion pesos (-6.9 percent), While the Ebitda margin was 42 percent and Roace was 9.9 percent.
As for the production of oil and natural gas, In the first quarter of 2025 it was 745,400 barrels of oil equivalent per day (Bped), an increase of 0.6 percent compared to the same period last year.
This increase was marked by greater production with fracking in the United States, which recorded a growth of 13.4 percent during this quarter and ended up being 95,900 bped.
Ricardo Roa, president of Ecopetrol. Photo:Néstor Gómez. Archive time
Regarding the fourth quarter of 2024, the company’s production increased 2 percent due, mainly, to a Increase in the production of the Akacías field thanks to the acquisition of 45 percent of the CPO-9 block.
The incremental production contribution of subsidiaries also influenced, especially fracking in the United States, and the increase in production in South Caño Thanks to the expansion of water processing at the Centaurs station.
These additional barrels compensated for the lower gas and white sales due to low demand at the beginning of the year, the impacts generated by blockages and the lower production in the fields of Piedmonte and La Guajira, given the changes in technical conditions that accelerated the natural decline of the fields.
During the quarter, Ecopetrol had a deferred production of 3,200 bped, but in the accumulating of the year, until April, Deferred production for environment and physical safety events is 1.4 million barrels.
Photo:Ecopetrol
At the end of March the company faced Blocks in the fields of Rubiales and Caño Sur, In addition to an unavailability of the Bicentennial pipeline due to the attacks with the affectation of the fields of northern Arauca.
In exploration, Ecopetrol, its subsidiaries and their partners advanced with the drilling of exploratory wells of the 10 initially planned by 2025. Of this total, one was successful (East-1 Zorzal), two continue to evaluate and some more was dry.
Besides, The drilling of the good luck-1 exploratory well on April 4 began, located in the Gua off-0 block, Operated by Petrobras (44.44 percent) in association with Ecopetrol (55.56 percent).
This natural gas leaflet is located 40 kilometers from the Colombian Caribbean coast and 11 kilometers from the Sirius discovery. Its objective is to prove the presence of a gas system in a play (exploratory concept) different from the discovery of gas obtained with Sirius.
