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Ecopetrol | 6-K: Report of foreign private issuer [Rules 13a-16 and 15d-16]

SEC announcement ·  Feb 28 06:08
Summary by Moomoo AI
Ecopetrol S.A., Colombia's largest integrated energy company, reported on February 27, 2024, that its subsidiary Refineria de Cartagena S.A.S. (Reficar) was informed of a UK court's approval of the restructuring plan for CB&I UK Limited, a subsidiary of McDermott International Ltd. This approval results in the discharge of CB&I UK Limited's payment obligations to Reficar under the arbitral award dated June 2, 2023. Additionally, a Dutch court is anticipated to approve a restructuring plan in March 2024 for Chicago Bridge & Iron Company N.V. (CB&I N.V.), another McDermott subsidiary. If approved, Reficar could receive preferred shares convertible into 19.9% of McDermott International Ltd.'s common stock, fulfilling CB&I N.V.'s payment obligations under the same arbitral award. Ecopetrol, with over 18,000 employees, is a key player in Colombia's hydrocarbon production and holds significant positions in petrochemicals, gas distribution, and energy transmission through its majority stake in ISA.
Ecopetrol S.A., Colombia's largest integrated energy company, reported on February 27, 2024, that its subsidiary Refineria de Cartagena S.A.S. (Reficar) was informed of a UK court's approval of the restructuring plan for CB&I UK Limited, a subsidiary of McDermott International Ltd. This approval results in the discharge of CB&I UK Limited's payment obligations to Reficar under the arbitral award dated June 2, 2023. Additionally, a Dutch court is anticipated to approve a restructuring plan in March 2024 for Chicago Bridge & Iron Company N.V. (CB&I N.V.), another McDermott subsidiary. If approved, Reficar could receive preferred shares convertible into 19.9% of McDermott International Ltd.'s common stock, fulfilling CB&I N.V.'s payment obligations under the same arbitral award. Ecopetrol, with over 18,000 employees, is a key player in Colombia's hydrocarbon production and holds significant positions in petrochemicals, gas distribution, and energy transmission through its majority stake in ISA.
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