Ecopetrol Reaches New Agreement with Oil Workers Union
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Ecopetrol announced that, as part of the collective bargaining process, it reached a final agreement on a new collective bargaining agreement with the Oil Workers Union, the majority union and holder of the collective bargaining agreement. The new agreement has a term of six years, effective as of January 1. In addition, in accordance with applicable law, the company has entered into 66 final agreements with other participating labor unions.
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Analyst Views on EC
Wall Street analysts forecast EC stock price to fall
2 Analyst Rating
0 Buy
1 Hold
1 Sell
Moderate Sell
Current: 15.670
Low
8.70
Averages
10.35
High
12.00
Current: 15.670
Low
8.70
Averages
10.35
High
12.00
About EC
Ecopetrol S.A. is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company's segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company's Exploration and Production segment includes exploration, development and production activities in Colombia and abroad. The Company's Transportation and Logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products, including diesel and biofuels. The Company's main crude oil pipeline systems' operating capacity is approximately 1.34 million barrels per day (BPD). The Company's main refineries are the Barrancabermeja refinery, which it directly owns and operates, and a refinery in the Free Trade Zone in Cartagena that is operated by Reficar S.A., a subsidiary of the Company. The Company also owns and operates two other minor refineries: Orito and Apiay.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Ecopetrol's Credit Rating Affirmed at BB- with Stable Outlook
- Credit Rating Affirmation: S&P Global Ratings has affirmed Ecopetrol's global credit rating at BB- with a stable outlook, reflecting the company's ongoing improvement in liquidity sources and overall financial health.
- Liquidity Enhancement: Ecopetrol secured a committed credit facility of approximately USD 190 million and successfully refinanced its short-term debt, which has bolstered its operating cash flows and ensured future financial flexibility.
- Stable Leverage Metrics: The company is expected to maintain an adjusted net debt-to-EBITDA ratio close to 2.0x over the coming years, supported by a favorable pricing environment and no significant debt increases in the short term.
- Economic Significance: The stable outlook for Ecopetrol is closely linked to the economic conditions of the Republic of Colombia, highlighting the company's critical role in the national economy and its strong relationship with the government.
See More
Ecopetrol's Credit Rating Affirmed at BB- with Stable Outlook
- Credit Rating Affirmation: S&P Global Ratings has affirmed Ecopetrol's global credit rating at BB- with a stable outlook, reflecting the company's financial health amid strengthening liquidity sources.
- Liquidity Enhancement: Ecopetrol secured a committed credit facility of approximately USD 190 million and successfully refinanced its short-term debt, which has bolstered its operating cash flows and further solidified its financial foundation.
- Stable Leverage Metrics: The company is expected to maintain an adjusted net debt-to-EBITDA ratio close to 2.0x over the coming years, supported by a favorable price environment and no significant debt increases in the short term.
- Economic Significance: The stable outlook for Ecopetrol is closely linked to the economic conditions of the Republic of Colombia, highlighting the company's crucial role in the national economy and its close relationship with the government.
See More
Ecopetrol Reaches New Collective Bargaining Agreement with Workers Union
- New Agreement Effective: Ecopetrol has reached a new collective bargaining agreement with its main workers' union, effective from January 1, 2026, for six years, aimed at improving employee working conditions and benefits.
- Multiple Agreements Signed: The company has entered into 66 final agreements with other participating labor unions, which include enhancements in health, education, and diversity and inclusion initiatives, demonstrating the company's commitment to employee welfare.
- Union Demands and Protests: The USO union had sought a pay increase of inflation plus 20% in the first year, followed by inflation plus 10% for the next four years, along with shorter working hours, reflecting strong worker concerns over compensation and working conditions.
- Strike Context: Earlier this month, the USO union launched a 24-hour strike protesting the deadlock in negotiations over the new collective agreement, representing 25,000 workers employed directly by Ecopetrol and its contractors, highlighting the tense labor relations environment.
See More
Global Energy ETF Underperforms Amid Market Decline
- ETF Decline: The iShares Global Energy ETF is down approximately 4.6% in Monday afternoon trading, indicating a weak sentiment in the energy sector that could impact investor confidence and lead to capital outflows.
- Weak Individual Stocks: Within the ETF, shares of Ecopetrol fell by about 5.6%, while Petroleo Brasileiro dropped by approximately 5.2%, reflecting the vulnerability of these companies in the current market environment, which may affect their future financing and investment plans.
- Market Sentiment Impact: The poor performance of the global energy ETF may be linked to overall market sentiment, with heightened investor concerns over energy price volatility potentially driving more capital towards defensive assets.
- Investor Strategy Adjustment: Given the ongoing weakness in the energy sector, investors may need to reassess their portfolios and consider seeking investment opportunities in other industries with greater growth potential to mitigate risks and enhance returns.
See More
Ecopetrol Reaches New Agreement with Oil Workers Union
- Collective Bargaining Outcome: On June 13, 2026, Ecopetrol reached a six-year collective bargaining agreement with the Oil Workers Union, aimed at improving employee working conditions and benefits, thereby enhancing relationships with stakeholders and overall employee well-being.
- Transparent Negotiation Process: The agreement was achieved through over 990 sessions characterized by dialogue and respect, reflecting the company's commitment to valuing employees and union representatives, which further solidifies its leadership position in the industry.
- Commitment to Social Investment: The new agreement includes improvements in health, education, and diversity initiatives, demonstrating Ecopetrol's dedication to social responsibility and sustainable development, with the goal of enhancing long-term competitiveness through increased employee satisfaction.
- Future Steps Planning: The company plans to formally submit the agreement in the coming days and conduct nationwide sessions with the union to ensure all employees understand the agreement, further promoting communication and trust between the company and its workforce.
See More
Ecopetrol Reaches New Agreement with Oil Workers Union
- Collective Bargaining Outcome: Ecopetrol has finalized a six-year collective bargaining agreement with the Oil Workers Union, effective January 1, 2026, which includes improvements in working conditions and enhanced health and education benefits, demonstrating the company's commitment to employee welfare.
- Transparent Negotiation Process: The agreement was reached after over 990 negotiation sessions characterized by dialogue and mutual respect, reflecting strong communication between the company and the union, thereby strengthening relationships with key stakeholders.
- Commitment to Social Investment: The agreement includes various social investment initiatives aimed at enhancing diversity, equity, and inclusion, which are intended to improve the quality of life for employees and their families while aligning with the company's cost discipline principles.
- Planned Next Steps: Ecopetrol expects to formalize the agreement in the coming days and conduct nationwide sessions with the union to ensure employees fully understand the agreement, thereby enhancing internal cohesion within the company.
See More
Ecopetrol's Credit Rating Affirmed at BB- with Stable Outlook
- Credit Rating Affirmation: S&P Global Ratings has affirmed Ecopetrol's global credit rating at BB- with a stable outlook, reflecting the company's ongoing improvement in liquidity sources and overall financial health.
- Liquidity Enhancement: Ecopetrol secured a committed credit facility of approximately USD 190 million and successfully refinanced its short-term debt, which has bolstered its operating cash flows and ensured future financial flexibility.
- Stable Leverage Metrics: The company is expected to maintain an adjusted net debt-to-EBITDA ratio close to 2.0x over the coming years, supported by a favorable pricing environment and no significant debt increases in the short term.
- Economic Significance: The stable outlook for Ecopetrol is closely linked to the economic conditions of the Republic of Colombia, highlighting the company's critical role in the national economy and its strong relationship with the government.
See More
Ecopetrol's Credit Rating Affirmed at BB- with Stable Outlook
- Credit Rating Affirmation: S&P Global Ratings has affirmed Ecopetrol's global credit rating at BB- with a stable outlook, reflecting the company's financial health amid strengthening liquidity sources.
- Liquidity Enhancement: Ecopetrol secured a committed credit facility of approximately USD 190 million and successfully refinanced its short-term debt, which has bolstered its operating cash flows and further solidified its financial foundation.
- Stable Leverage Metrics: The company is expected to maintain an adjusted net debt-to-EBITDA ratio close to 2.0x over the coming years, supported by a favorable price environment and no significant debt increases in the short term.
- Economic Significance: The stable outlook for Ecopetrol is closely linked to the economic conditions of the Republic of Colombia, highlighting the company's crucial role in the national economy and its close relationship with the government.
See More
Ecopetrol Reaches New Collective Bargaining Agreement with Workers Union
- New Agreement Effective: Ecopetrol has reached a new collective bargaining agreement with its main workers' union, effective from January 1, 2026, for six years, aimed at improving employee working conditions and benefits.
- Multiple Agreements Signed: The company has entered into 66 final agreements with other participating labor unions, which include enhancements in health, education, and diversity and inclusion initiatives, demonstrating the company's commitment to employee welfare.
- Union Demands and Protests: The USO union had sought a pay increase of inflation plus 20% in the first year, followed by inflation plus 10% for the next four years, along with shorter working hours, reflecting strong worker concerns over compensation and working conditions.
- Strike Context: Earlier this month, the USO union launched a 24-hour strike protesting the deadlock in negotiations over the new collective agreement, representing 25,000 workers employed directly by Ecopetrol and its contractors, highlighting the tense labor relations environment.
See More
Global Energy ETF Underperforms Amid Market Decline
- ETF Decline: The iShares Global Energy ETF is down approximately 4.6% in Monday afternoon trading, indicating a weak sentiment in the energy sector that could impact investor confidence and lead to capital outflows.
- Weak Individual Stocks: Within the ETF, shares of Ecopetrol fell by about 5.6%, while Petroleo Brasileiro dropped by approximately 5.2%, reflecting the vulnerability of these companies in the current market environment, which may affect their future financing and investment plans.
- Market Sentiment Impact: The poor performance of the global energy ETF may be linked to overall market sentiment, with heightened investor concerns over energy price volatility potentially driving more capital towards defensive assets.
- Investor Strategy Adjustment: Given the ongoing weakness in the energy sector, investors may need to reassess their portfolios and consider seeking investment opportunities in other industries with greater growth potential to mitigate risks and enhance returns.
See More
Ecopetrol Reaches New Agreement with Oil Workers Union
- Collective Bargaining Outcome: On June 13, 2026, Ecopetrol reached a six-year collective bargaining agreement with the Oil Workers Union, aimed at improving employee working conditions and benefits, thereby enhancing relationships with stakeholders and overall employee well-being.
- Transparent Negotiation Process: The agreement was achieved through over 990 sessions characterized by dialogue and respect, reflecting the company's commitment to valuing employees and union representatives, which further solidifies its leadership position in the industry.
- Commitment to Social Investment: The new agreement includes improvements in health, education, and diversity initiatives, demonstrating Ecopetrol's dedication to social responsibility and sustainable development, with the goal of enhancing long-term competitiveness through increased employee satisfaction.
- Future Steps Planning: The company plans to formally submit the agreement in the coming days and conduct nationwide sessions with the union to ensure all employees understand the agreement, further promoting communication and trust between the company and its workforce.
See More
Ecopetrol Reaches New Agreement with Oil Workers Union
- Collective Bargaining Outcome: Ecopetrol has finalized a six-year collective bargaining agreement with the Oil Workers Union, effective January 1, 2026, which includes improvements in working conditions and enhanced health and education benefits, demonstrating the company's commitment to employee welfare.
- Transparent Negotiation Process: The agreement was reached after over 990 negotiation sessions characterized by dialogue and mutual respect, reflecting strong communication between the company and the union, thereby strengthening relationships with key stakeholders.
- Commitment to Social Investment: The agreement includes various social investment initiatives aimed at enhancing diversity, equity, and inclusion, which are intended to improve the quality of life for employees and their families while aligning with the company's cost discipline principles.
- Planned Next Steps: Ecopetrol expects to formalize the agreement in the coming days and conduct nationwide sessions with the union to ensure employees fully understand the agreement, thereby enhancing internal cohesion within the company.
See More
