Ecopetrol flags El Niño preparations as Q2 profit more than triples
EC•Hydrocarbon output declines
Hydrocarbon output fell 6.6% year-on-year to 705,800 barrels of oil equivalent per day, hurt by lower production in the Permian, natural decline in gas fields and operating restrictions at some Colombian fields.
Company outlines El Niño preparations and supply plans
Looking ahead, Ecopetrol said it had activated measures to help protect operations and support Colombia's energy system if El Niño intensifies in the second half of 2026 and into early 2027. El Niño is a climate pattern linked to warmer Pacific waters that can trigger drought and strain power and water supplies in Colombia.
The company said regasification projects could add as much as 360 billion British thermal units per day of gas supply, with its Buenaventura plant expected to contribute 60 billion BTU per day from November and Puerto Bahia up to 300 billion BTU per day in the first quarter of 2027.
That additional supply could fully cover domestic gas demand and support up to 1,000 megawatts of extra thermoelectric generation, helping reduce the risk of power rationing, Ecopetrol said. The group currently supplies about 62% of Colombia's natural gas demand.
Ecopetrol profit rises on stronger oil prices and refining margins
BOGOTA, Aug. 3 (Reuters) - Colombia's majority state-owned Ecopetrol said on Monday it is preparing for a potentially strong El Niño weather event by boosting gas supply, regasification and self-generation, as second-quarter profit more than tripled on higher oil prices and record refining margins.
The energy group posted net profit of 6.06 trillion pesos ($1.93 billion) for the April-June period, up 235% from a year earlier, while revenue rose 35% to 40.2 trillion pesos.
- Ecopetrol said quarterly EBITDA rose 59% to 17.68 trillion pesos, with EBITDA margin widening to 44% from 37.5% a year earlier, helped by stronger crude prices, higher transport volumes and historic refining performance.
