Ecopetrol S.A. is a Colombian oil and gas company headquartered in Bogotá, Colombia. It is one of the largest oil producers in Latin America and is the largest company in Colombia. The company was founded in 1951 as Empresa Colombiana de Petróleos (Colombian Petroleum Company) and became a publicly traded company in 2007. Ecopetrol operates in the exploration, production, refining, and transportation of oil and gas. The company also has interests in biofuels, petrochemicals, and renewable energy.
The company operates primarily in Colombia, but it also has operations in the United States, Brazil, Peru, and other countries. Ecopetrol's upstream operations include exploration, production, and transport of crude oil and natural gas. The company also has downstream operations, which include refining and petrochemical production. In addition, Ecopetrol is involved in biofuels production, power generation, and renewable energy projects.
Ecopetrol has a strong presence in Colombia, where it is responsible for over 60% of the country's oil production. The company has made significant investments in infrastructure in Colombia, including the construction of pipelines, refineries, and transportation systems. Ecopetrol is also involved in social and environmental initiatives in Colombia, including programs to improve education and healthcare, and to support local communities.
In recent years, Ecopetrol has faced challenges due to low oil prices and political instability in Colombia. The company has responded by implementing cost-cutting measures, investing in new technologies, and expanding into new markets. Ecopetrol has also made efforts to improve its environmental and social practices, including reducing greenhouse gas emissions, increasing transparency, and promoting sustainable development.