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Stock impact report

Ecopetrol (EC) Climbs 8.8% as Firm Sees Opportunity in Oil Rally [Yahoo! Finance]

Ecopetrol S.A. American Depositary Shares (EC) 
Company Research Source: Yahoo! Finance
end at $12.61 apiece, as investors took heart from its aggressive expansion initiative as it eyes to take advantage of the surging oil prices globally. According to CEO Ricardo Roa following Ecopetrol SA's (NYSE:EC) earnings release, the company would review its investment plan in April should oil prices continue to rise. EcoPetrol Photo from Ecopetrol website It is also setting its sights on partnering with Venezuela amid the latter's abundance of crude oil products. It can be recalled that the US took control of Venezuelan oil in January this year after it captured its president, Nicolas Maduro, for alleged narco-trafficking. Additionally, Ecopetrol SA (NYSE:EC) Chief Finance Officer Camilo Barco said that the company may need to take on additional debt if it sees huge opportunities for inorganic growth, including acquisition or asset purchases. In other news, Ecopetrol SA (NYSE:EC) announced the distribution of 110 Colombian peso worth of dividends per share held, equ Show less Read more
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