• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Technology & Startups

Lower oil prices could sink Ecopetrol’s full-year profits by $2.8 billion, president warns

April 11, 2025
in Technology & Startups
Reading Time: 3 mins read
A A
0
4
SHARES
9
VIEWS
Share on FacebookShare on Twitter


By Nelson Bocanegra

BOGOTA (Reuters) – Lower oil prices could reduce Colombian state-run oil firm Ecopetrol’s profits by up to 12 trillion pesos ($2.76 billion) this year, the company’s president warned on Friday.

Ecopetrol may also have to scrap production at some fields and focus on those with lower costs, president Ricardo Roa told journalists on the sidelines of an industry event.

Crude oil prices were headed for their second-consecutive weekly loss on Friday, with Brent futures at $63.45 a barrel, on concerns of an intensifying trade war between the United States and China.

“We already have a first list of fields that have a break-even point close to that price, so we’ll have to eliminate them and focus on those with lower costs,” Roa said.

Roa added that around 20 to 30 fields could be at risk of closure. Ecopetrol operates 158 fields, although the executive cautioned that the fields on the chopping block were not major producers.

It was unclear how much of a production hit their closure could represent.

“As the price of oil drops, the company will need to monitor that number and make decisions regarding eventual closures of other fields that might not be profitable,” Roa said.

Beyond the hit to production, the lower crude prices translate into a huge hit for Ecopetrol’s profits, he added.

Each dollar difference on the international market means a 900-billion-peso hit to EBITDA (earnings before interest, taxes, depreciation and amortization) and a 700-billion-peso hit to net profit, Roa added.

“If we were considering (oil prices at) $73 a barrel and now they’re at $63, then we have a difference of 12 trillion pesos in price.”

Ecopetrol’s profits are key to Colombia’s economy, which is facing increasing fiscal pressure as tax revenues slip, forcing the government to boost its debt and cut spending.

NATURAL GAS BOOST

Separately on Friday, Ecopetrol announced it would launch two new natural gas sale processes this year.

Starting in June, the state-run firm will sell additional natural gas produced locally, while in July it will start sales on gas imported through the Buenaventura port.

Natural gas from an offshore block jointly operated with Brazilian state-run producer Petrobras should come on the market at the end of this year, with the potential to meet around 14% of Colombia’s current demand for the energy source.

(Reporting by Nelson Bocanegra and Carlos Vargas; Writing by Rafael Escalera Montoto; Editing by Chizu Nomiyama)

Tags: EcopetrolOil pricesprofitsRicardo Roa
Previous Post

Bomb explodes near Greece railway company’s main offices in Athens: police – National

Next Post

Trump Will End Temporary Protections for Afghans and Cameroonians

Related Posts

How to stay safe online and how it relates to your audience

How to stay safe online and how it relates to your audience

May 24, 2025 - Updated on May 25, 2025
10

6 Cryptocurrencies With a High Year-Over-Year Earn on Investment To Consider Now

May 24, 2025
8
Next Post
Trump Will End Temporary Protections for Afghans and Cameroonians

Trump Will End Temporary Protections for Afghans and Cameroonians

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
The Straits Times logo

South Korea front runner Lee suggests extending US tariff talks

May 25, 2025
Can Germany withstand massive cyberattacks? – DW – 05/25/2025

Can Germany withstand massive cyberattacks? – DW – 05/25/2025

May 25, 2025
Dissident Iranian filmmaker urges working for ‘freedom’ as he takes Cannes top prize

Dissident Iranian filmmaker urges working for ‘freedom’ as he takes Cannes top prize

May 25, 2025
Is Publix open on Memorial Day?

Is Publix open on Memorial Day? todayheadline

May 25, 2025

Recent News

The Straits Times logo

South Korea front runner Lee suggests extending US tariff talks

May 25, 2025
4
Can Germany withstand massive cyberattacks? – DW – 05/25/2025

Can Germany withstand massive cyberattacks? – DW – 05/25/2025

May 25, 2025
4
Dissident Iranian filmmaker urges working for ‘freedom’ as he takes Cannes top prize

Dissident Iranian filmmaker urges working for ‘freedom’ as he takes Cannes top prize

May 25, 2025
4
Is Publix open on Memorial Day?

Is Publix open on Memorial Day? todayheadline

May 25, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

The Straits Times logo

South Korea front runner Lee suggests extending US tariff talks

May 25, 2025
Can Germany withstand massive cyberattacks? – DW – 05/25/2025

Can Germany withstand massive cyberattacks? – DW – 05/25/2025

May 25, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co