Ecopetrol Turns 75: 6 Facts About Colombia's Largest Oil Company

The Colombian Petroleum Company, Ecopetrol, turns 75 this August 25, 2026. Since its founding in 1951, this company has been a fundamental pillar for Colombia's economy and a key player in the region's energy sector. Its history is full of significant moments, from its origin linked to the nationalization of a vital resource to its expansion as an international energy conglomerate. We invite you to discover six curious facts you might not have known about Ecopetrol.

1. Born from a Historic Reversion and Labor Strikes

Ecopetrol didn't just appear out of nowhere; it emerged from a pivotal event in Colombian oil history: the reversion of the Mares Concession. This concession had been granted to the Tropical Oil Company (known as Troco), which had been operating the Infantas 2 well and the La Cira-Infantas Field in Barrancabermeja since 1921. As the concession was nearing its end, the Workers' Oil Industry Union (USO) led a series of strikes between 1946 and 1948, demanding the nationalization of oil and the reversion of these assets, as detailed by Wikipedia.

Thus, on December 27, 1948, Law 165 was signed, initiating the creation of the Empresa Colombiana de Petróleos. Finally, on August 25, 1951, the company was officially established, taking control of the assets of the Mares Concession. This origin marks Ecopetrol as a company born from national sovereignty over its resources.

2. Transformed from State Administrator to Market Player

For decades, Ecopetrol functioned as a state industrial and commercial enterprise, responsible for managing the nation's oil resources. This dramatically changed in 2003 with Decree 1760. The company was transformed into Ecopetrol S.A., a 100% state-owned public limited company, but with a new mission: to compete in the global oil market.

With this restructuring, Ecopetrol shed its administrative functions related to oil resources, which were transferred to the newly created National Hydrocarbons Agency (ANH). From then on, Ecopetrol could focus on exploration, production, and commercialization, aiming to improve its position in the global industry, as explained in its history.

3. Traded on the New York Stock Exchange

Ecopetrol's expansion was not only operational but also financial. On September 23, 2007, the company launched its first initial public offering of shares on the Colombian Stock Exchange (BVC). But its reach extended further: on September 18, 2008, Ecopetrol began selling its shares on the New York Stock Exchange (NYSE) through ADRs (American Depositary Receipts) under the ticker symbol EC, according to Wikipedia.

This means that investors worldwide can buy and sell stakes in the company, solidifying its presence in international financial markets. This opening to private capital, even though the Colombian State remains the majority shareholder (88.49%), has been key to its growth.

4. Its Motto: "For Everyone, From Everyone"

Beyond numbers and operations, Ecopetrol has adopted a motto that summarizes its purpose and its connection to the country: "De Todos, para Todos" (For Everyone, From Everyone). This phrase, which can be found in the company's profile on Wikipedia, highlights its nature as a mixed-economy company, where the majority ownership belongs to the State, but with participation from private shareholders. It reflects the idea that the company's benefits and impact are intended to be shared with all Colombian society.

5. ISA Acquisition Made It an Energy Giant

One of Ecopetrol's most strategic and recent moves occurred on August 20, 2021. On that day, the company finalized the acquisition of 51.4% of the shares of ISA, a leading company in energy transmission, road concessions, and telecommunications in Latin America. This purchase not only expanded Ecopetrol's portfolio but also transformed it into an energy conglomerate with a much more diversified presence across the American continent, as detailed in its profile.

This operation allowed Ecopetrol to move beyond oil and gas, making a strong entry into the electricity and infrastructure sectors, which gives it a more solid and varied position in the regional energy landscape.

6. Colombia's Largest Company and a Top 40 Global Player

Ecopetrol's scale is impressive. By 2009, it was already Colombia's largest company by net profit. By 2020, the Forbes Global 2000 list ranked it as the 313th largest public company in the world. Furthermore, Platts ranked it in 2012 as one of the world's largest oil companies, holding fourth place in the Americas, as reported by Wikipedia.

With revenues exceeding 133 trillion Colombian pesos in 2024 and assets over 301 trillion pesos, Ecopetrol not only dominates the energy sector in its country but also plays a significant role in the global market, with operations in countries like Brazil, Mexico, the United States, and Spain.

Why it matters

Ecopetrol's history reflects Colombia's economic and energy evolution. Celebrating its 75 years allows us to understand not only the journey of one of the most important companies on the continent but also how natural resources, political decisions, and business vision intertwine to build a nation's future. Its impact ranges from job creation to its influence on global markets, demonstrating the capacity of a state-owned company to compete and grow on a large scale.