Ecopetrol publishes operating and financial results for the third quarter of 2020

This Ecopetrol release was published using machine translation.

The downtrend in earnings was reversed. They went from $ 25 billion in the second quarter of 2020 to $ 855 billion in the third quarter of 2020.

• Between January and September, net income has already exceeded one trillion pesos.
• Ebitda reached $ 5.3 trillion in the third quarter vs $ 1.9 trillion registered in the second quarter, with a margin of 43%, the highest registered in the year.
• Production gradually recovered. It went from 678 Kbped (thousands of barrels of oil equivalent per day) in the second quarter to 681 Kbped in the third quarter.
• At the end of the third quarter, the refinery load has recovered by 50% compared to April, the most critical month.
• The demand for products such as gasoline, diesel, jet fuel (Jet A-1) increased 110% between April and September.
• Drills in operation went from 2 in April to 10 in September, which has allowed activities to be reactivated.
• Volumes transported increased 6% between the second quarter and the third quarter of 2020.
• The price of benchmark Brent crude recovered from US $ 33.4 / bl in the second quarter of 2020 to $ US43.3 / bl in the third quarter of 2020.
• Aid has been delivered to the country for $ 52 billion of the + $ 88 billion committed to support the care of the pandemic.
• Socio-environmental investment reached $ 192 billion between January and September 2020, higher than the $ 60 billion registered in the same period of the previous year.
• Digital investments reached US $ 35 million so far this year and new tools based on artificial intelligence were incorporated.
• As of November, construction of the San Fernando solar park will begin in Meta.

See here the full report