EC News & Events

Ecopetrol announced that, in addition to the information published on December 24 where it was stated that Union Sindical Obrera had filled a complaint with the Ministry of Labor of the collective bargaining agreement, or CBA, the labor organizations Adeco, Sindispetrol, Asopetrogas, Asteco, Trasine, Asintrahc, Sintramen, Sup, and Utipec have started the renegotiation of their respective chapters of the collective bargaining agreement executed with the company, by filing a complaint with the Ministry of Labor, within the legally-established timeframe. In accordance with the provisions of the Colombian Labor Code, parties to a collective bargaining agreement may request an amendment to such an agreement by filing a complaint with the Ministry of Labor.

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The company said, "Given recent news reports about a potential acquisition in Brazil by Ecopetrol S.A., we would like to clarify that, Ecopetrol continuously assesses inorganic growth opportunities as part of its strategy for growth and diversification. While Ecopetrol is currently assessing alternatives in the Brazilian market where the Ecopetrol Group is already present, these assessments are still in preliminary stages in accordance with standard market practices. As of today, there are no binding commitments or obligations to finalize any potential transactions that would warrant disclosure as material information."