Summary by Moomoo AI
Ecopetrol S.A., the Colombian national oil company, reported its financial results for the fourth quarter and the full year of 2023. Despite a challenging economic environment marked by lower Brent crude oil prices, inflationary pressures, and geopolitical challenges, the company achieved the second-best financial results in its history. For the year 2023, Ecopetrol recorded a net profit of COP 19.1 trillion, an EBITDA of COP 60.7 trillion, and an EBITDA margin of 42%. The company's operational highlights included the highest annual production in eight years, significant exploratory success, and a 97% investment execution rate. The fourth quarter saw revenues of COP 34.8 trillion, a net profit of COP 4.2 trillion, and an EBITDA of COP 12.3 trillion. Ecopetrol's hydrocarbons business line declared 11 successful wells, and...Show More