LatinNews Daily - 7 May 2025

*Colombia’s state-controlled oil company Ecopetrol has released its latest quarterly report, showing a 22.8% drop in net profits in Q1 2025 compared with Q1 2024. In the first quarter of 2025, the net profit attributable to Ecopetrol shareholders was Col$3.13trn (US$727m), down from Col$4.01trn in the same period of 2024. This was despite a slight increase in total sales, which were up by 0.2% at Col$31.37trn. Earnings before tax, interest, depreciation and amortisation (Ebitda) fell by 6.9% to Col$13.26trn. Ecopetrol’s president, Ricardo Roa, said that the company is “facing an environment affected by external variables, geopolitical tensions and mainly with a strong impact from the fall in the prices of Brent benchmark crude oil.”

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