Ecopetrol S.A. Company Profile, SWOT Analysis and Company Tech Intelligence Report 2018

Ecopetrol S.A.

Report Name: Ecopetrol S.A.Company Profile – Overview, History, SWOT Analysis, Products/Services, Facts, Financials, Key Executives, Competitors, Tech Intelligence, IT Outsourcing, IT Management, Recent Developments and Strategy Evaluation

Ecopetrol S.A.Company Report – Publisher: Research Cosmos

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Ecopetrol S.A.Company– Business Description:

Ecopetrol S.A. is a vertically integrated oil company in Colombia. The majority interest in the company is controlled by the Government of Colombia. Ecopetrol is engage in the exploration and production of oil and gas, refining, transportation of crude oil, and the marketing and supply of refined and feed stock products. The company primarily operates in Colombia, Peru, Brazil, Angola, and the US Gulf Coast. Ecopetrol operates through three business segments: Refining and Petrochemicals; Exploration and Production; and Transportation and Logistics. The Refining and Petrochemicals segment operates two main refineries. The main refineries include Barrancabermeja with 250,000 barrels per day (bpd) capacity and Reficar with 150,000 bpd capacity.

The segment also owns two other minor refineries, Orito and Apiay, each with 2,500 bpd capacity. These refineries produce a full range of refined products, including gasoline, diesel, jet fuel, liquefied petroleum gas (LPG), and heavy fuel oils, among others. At Barrancabermeja, the company produces a variety of fuels, such as diesel fuel, kerosene, jet fuel, aviation fuel, LPG, fuel oil and sulfur. Ecopetrol also produce petrochemicals and industrial products, including paraffin waxes, lube base oils, low-density polyethylene, aromatics, asphalts and alkylates. The company own and operate four petrochemical plants and one paraffin and lube plant located within Barrancabermeja. In FY2016, the company produced 55,642 tons per year of low-density polyethylene, and 1,994 million barrels of oil equivalent per day (MMboepd) of aromatics (benzene, toluene, xylene, orthoxylene, heavy aromatics and cyclohexane). In addition, Reficar produced a total of 2,259 MMboepd of refined products in FY2016. In FY2016, the Refining and Petrochemicals segment reported revenues of COP24,194,024 million, which accounted for 49.9% of the company’s total revenue.

The Exploration and Production segment is engaged in exploration, development, and production of crude oil and natural gas in Colombia and abroad. The company conducts exploration and production activities directly through some subsidiaries and through joint ventures with third parties. In 2016, Ecopetrol carried out development drilling in all its producing regions in Colombia, drilling 133 development wells; 83 of those through its direct operations, and 50 through its joint ventures. The company’s average daily production of crude oil in Colombia was 552,100 bpd in FY2016. Additionally, the company’s consolidated average production was 717,900 bpd. Ecopetrol’s crude oil production during FY2016 consisted of approximately 37% light and medium crudes, and 58% heavy crudes.

In FY2016, the company’s average daily production of natural gas reached 116 million barrels of oil equivalent per day (MMboed). Ecopetrol has three main natural gas production fields, Guajira, Cusiana, and Cupiagua. As of December 31, 2016, the company’s total natural gas production was as follows: 29% was supplied from the Guajira field, 25% from the Cusiana field, 25% from the Cupiagua field, and the remaining 21% from fields located in other regions. The company drilled 19 net wells in Columbia in FY2016. During FY2016, Ecopetrol’s developed gross acreage totaled 448,782 acres and developed net acreage totaled 343,233 acres. The company’s undeveloped gross acreage totaled 5,040,681 acres and undeveloped net acreage 3,679,116 acres.

The company’s gross productive crude oil wells totaled 253, and net productive crude oil wells totaled 174.9. Ecopetrol’s total oil and gas proved reserves totaled 1,598 million barrels of oil equivalent (MMboe), which includes 1,329 MMboe of proved developed reserves, and 269 MMboe of proved undeveloped reserves. In FY2016, the Exploration and Production segment reported revenues of COP20,527,332 million, which accounted for 42.3% of the company’s total revenue. The Transportation and Logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products including diesel and biofuels. The company conducts most of these activities through its wholly-owned subsidiary, Cenit and Cenit’s subsidiaries. In FY2016, the company transported 1.1 million bpd volumes of crude oil and refined products through the crude oil pipelines and multipurpose pipelines. During FY2016, Ecopetrol directly or indirectly with private sector participants, owned, operated and maintained a network of crude oil and refined products pipelines connecting its own and third-party production centers and terminals to refineries, major distribution points and export facilities in Colombia. Cenit directly owns 49% of the total crude oil pipeline shipping capacity in Colombia. As of December 31, 2016, the company’s network of crude oil and multi-purpose pipelines was approximately 8,860 kilometers in length.

The transportation network consists of approximately 5,146 kilometers of main crude oil pipeline networks connecting various fields to the Barrancabermeja refinery and Reficar, as well as to export facilities. Out of the 5,146 kilometers of crude oil pipelines owned by the company, 2,985 kilometers of crude oil pipeline are wholly owned and 2,161 kilometers of crude oil pipeline is owned through non-wholly owned subsidiaries. Additionally, Ecopetrol own 3,714 kilometers of multi-purpose pipelines for transportation of refined products from the Barrancabermeja refinery and from Reficar to wholesale distribution points. At the end of December 31, 2016, the company owned 68 pumping stations: 34 located in crude oil pipelines, 30 in refined products pipelines, two in crude oil ports and two in refined product ports. As of December 31, 2016, Ecopetrol had a nominal storage capacity associated with the transportation network of 16 million barrels of crude oil and four million barrels of refined products.

In FY2016, the Transportation and Logistics segment reported revenues of COP3,764,205 million, which accounted for 7.8% of the company’s total revenue. Geographically, the company classifies its operations into six geographies, namely Colombia; the US; Central America and Caribbean; Europe; Asia; and South America and Others. In FY2016, Colombia segment accounted for 51% of the company’s total revenues, followed by the US with 24.7%; Central America and Caribbean with 7.3%; Europe with 6.1%; Asia with 5.6%; and South America and Others with 5.3%.

Scope of the Report:

About the Company: Historical Details, Current Ownership Structure and basic overview of Ecopetrol S.A.Company in terms of revenue, net income, and operating income.

Financials: Details about Ecopetrol S.A.Company listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.

Products/Services: Listing of the Ecopetrol S.A.Company’s entire portfolio along with the description of individual products/services providing a clear picture of their target audience.

Company SWOT Analysis: Outlines’s strengths, weaknesses, and opportunities and threats facing the company.

Recent Developments: Showcases Ecopetrol S.A.Company’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.

Strategic Evaluation: This section provides an overview of Ecopetrol S.A.Company’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.

Technology Landscape: Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken by the company at present along with outlook.

Key Questions Answered

  • What domain does Ecopetrol S.A.Company operate and what are key points about it?
  • What is the product/service portfolio of Ecopetrol S.A.Company?
  • How has Ecopetrol S.A.Company performed financially from 2013?
  • How does Ecopetrol S.A.Company rank among its peers in terms of revenue and market share?
  • What are Ecopetrol S.A.Company strengths and weaknesses and what opportunities and threats do it face?
  • What are Ecopetrol S.A.Company’s main growth strategies and how successful has the company been at implementing them?
  • What is the in-house technical capability of Ecopetrol S.A.Company? Where does it procure/outsource it?
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