Ecopetrol S.A. is a leading Colombian multinational petroleum company engaged in the exploration, production, refinement, and transportation of oil and natural gas
As the largest company in Colombia, it plays a pivotal role in the country's energy sector, managing the entire value chain from upstream activities, such as drilling and extraction, to downstream operations, including refining and distribution of fuel products. Ecopetrol is also committed to sustainability and seeks to balance its business operations with environmental responsibilities by investing in renewable energy projects and promoting eco-friendly initiatives. With a focus on enhancing energy security and driving economic growth, the company is integral to Colombia's infrastructure and development.
Ecopetrol and Oxy plan to extend development in Permian Basin, including 34 wells to be drilled between April 2025 and June 2026, with possibility of future extension.
The top 10 best performing large-cap stocks in the last week were Atlassian, Royal Caribbean, IBM, GitLab, Check Point, RBC Bearings, Alibaba, Duolingo, Franklin Resources, and Cloudflare.
The price of crude oil has cratered over the last two months, falling from a high of $95 to $69. While this move has shifted many speculators to the bearish side, I think they are late, and risk-reward favors the long side here.
