Connection

popular articles

Rally in Nantes Against Job Cuts at GE Vernova
Niger keeps its border closed with Benin
Saudi Arabia: Lower Asian crude oil prices expected in October
Sweden revises its offshore wind strategy to unblock certain projects
TotalEnergies vs NGOs: Frequent Accusations, Rarely Convicted

Ecopetrol obtains authorisation for a $500mn loan with Banco Santander

Ecopetrol received approval from the Ministry of Finance to contract a $500mn loan with Banco Santander, intended to cover non-investment expenses under its 2025 financing plan.

Please share:

Ecopetrol S.A., the Colombian oil company listed on the New York Stock Exchange and the Colombian Stock Exchange, obtained authorisation from the Ministry of Finance and Public Credit (MHCP) to conclude a loan agreement for a maximum amount of USD500mn ($500mn). The approval was formalised through Resolution 0910 issued on April 25, 2025.

The company specified that the loan will be concluded with Banco Santander, S.A., for a term of five years. The principal repayment will be made in a single instalment at maturity, and interest will be calculated according to the Secured Overnight Financing Rate (SOFR).

Use of funds and legal framework

The funds from this loan will be used for non-investment expenses, in line with Ecopetrol’s 2025 financing plan and the MHCP Resolution. This approach also aims to meet the annual Gross Debt/EBITDA ratio target.

The loan agreement will be governed by the laws of the State of New York. Ecopetrol indicated that it complied with all required internal procedures to obtain authorisation, including the submission of contract documents for review by the Ministry of Finance.

Financial context and outlook

Ecopetrol highlighted that the financial conditions obtained reflect the support and confidence of the international banking sector in the Group’s strategy. The current market context is marked by financial and economic challenges, reinforcing the importance of securing financing conditions considered favourable.

The agreement is part of Ecopetrol’s ongoing efforts to ensure the stability of its financial structure while maintaining its operational commitments.

Register free of charge for uninterrupted access.

Publicite

Latest news

BP secures new upstream milestones from Iraq to Angola
Westinghouse and Bechtel continue Polish nuclear project with new agreement
Vattenfall to operate a 50-megawatt battery park in the Netherlands by 2026
Glen Earrach Energy submits application for 2GW hydropower project at Loch Ness
ENNA Solar acquires 87.5 MW solar project in Romania for €60mn

Recently published in

BP secures new upstream milestones from Iraq to Angola

BP announced strategic progress on its oil projects in Iraq and Angola, marking a key step in its upstream development, according to an internal communication published on April 26.
PetroChina records a 2.3% increase in net profit in the first quarter of 2025
PetroChina announced stable growth in operational results for the first quarter of 2025, supported by an increase in oil and gas production and accelerated development in renewable energies.
en_1140290959540-15
PetroChina records a 2.3% increase in net profit in the first quarter of 2025
PetroChina announced stable growth in operational results for the first quarter of 2025, supported by an increase in oil and gas production and accelerated development in renewable energies.
en_1140290959540-15
CNOOC Limited records 4.8% production growth in the first quarter of 2025
CNOOC Limited announced an increase in production and maintained profitability in the first quarter of 2025, despite an 8.3% drop in Brent crude oil prices compared to last year.
en_1140290957540-14
CNOOC Limited records 4.8% production growth in the first quarter of 2025
CNOOC Limited announced an increase in production and maintained profitability in the first quarter of 2025, despite an 8.3% drop in Brent crude oil prices compared to last year.
en_1140290957540-14
Eni confirms major oil discovery offshore Namibia
Eni announced the successful drilling of the Capricornus 1-X well in Namibia's Orange Basin, revealing a significant light oil reservoir after positive production tests.
en_1140290950540-15
Eni confirms major oil discovery offshore Namibia
Eni announced the successful drilling of the Capricornus 1-X well in Namibia's Orange Basin, revealing a significant light oil reservoir after positive production tests.
en_1140290950540-15

Tariffs, Oversupply: Oil Industry Faces Imminent Global Contraction

The global oil industry anticipates a significant decline in exploration and production investments from 2025, amid persistent oversupply, exacerbated by increased U.S. tariffs and recent decisions by OPEC+.
The oil industry braces for increased uncertainty: tariffs, price volatility, and investment risks
The global oil industry prepares for further disruptions as oil prices fall below USD 60 per barrel, a level unseen since 2021. The decline in investments, particularly in the US shale sector, raises concerns.
en_1140290956540-13
The oil industry braces for increased uncertainty: tariffs, price volatility, and investment risks
The global oil industry prepares for further disruptions as oil prices fall below USD 60 per barrel, a level unseen since 2021. The decline in investments, particularly in the US shale sector, raises concerns.
en_1140290956540-13
US oil stocks rise less than expected, crude prices under pressure
US crude inventories increased by 200,000 barrels last week, far below analysts' forecasts. However, oil prices remain under pressure following the announcement of a potential rise in production by OPEC+.
en_1140290960540-14
US oil stocks rise less than expected, crude prices under pressure
US crude inventories increased by 200,000 barrels last week, far below analysts' forecasts. However, oil prices remain under pressure following the announcement of a potential rise in production by OPEC+.
en_1140290960540-14
Thousands of miners block La Paz to protest fuel shortage
Thousands of miners blocked the streets of La Paz on April 23, 2025, to protest the shortage of dollars and fuel, which is particularly affecting Bolivia's mining sector.
en_1140290952540-14
Thousands of miners block La Paz to protest fuel shortage
Thousands of miners blocked the streets of La Paz on April 23, 2025, to protest the shortage of dollars and fuel, which is particularly affecting Bolivia's mining sector.
en_1140290952540-14

OPEC calls on IEA to prioritize energy security over net zero ideology

OPEC Secretary General Haitham Al Ghais emphasizes the need to reconcile energy security with emission reduction goals, in light of the International Energy Agency's (IEA) approach.
New oil discovery in Gabon: BW Energy confirms potential of 56 million barrels
The DBM-1 ST2 appraisal well confirms a significant oil discovery offshore Gabon. The Bourdon project could add up to 25 million recoverable barrels to BW Energy's reserves, further strengthening the Dussafu licence development.
en_1140290952540-13
New oil discovery in Gabon: BW Energy confirms potential of 56 million barrels
The DBM-1 ST2 appraisal well confirms a significant oil discovery offshore Gabon. The Bourdon project could add up to 25 million recoverable barrels to BW Energy's reserves, further strengthening the Dussafu licence development.
en_1140290952540-13
Woodside announces stable production in Q1 2025 despite weather impacts
Woodside Energy recorded stable production and revenues of 3,315 million USD in Q1 2025, with a notable increase in production at Sangomar, but a slight decline due to weather impacts at other sites.
en_1140290948540-14
Woodside announces stable production in Q1 2025 despite weather impacts
Woodside Energy recorded stable production and revenues of 3,315 million USD in Q1 2025, with a notable increase in production at Sangomar, but a slight decline due to weather impacts at other sites.
en_1140290948540-14
TAG Oil sells New Zealand oil royalty interests for USD 2.5 mn
Canadian company TAG Oil has completed the sale of its interests in five production permits in New Zealand to Kiwi Royalty Limited, for a total consideration of up to USD 2.5 mn.
en_1140290952540-12
TAG Oil sells New Zealand oil royalty interests for USD 2.5 mn
Canadian company TAG Oil has completed the sale of its interests in five production permits in New Zealand to Kiwi Royalty Limited, for a total consideration of up to USD 2.5 mn.
en_1140290952540-12

Egypt to drill 75 new oil wells to stabilise national output

The Egyptian government is launching a 75-well drilling campaign in the Eastern Desert, aiming for a 9% increase in crude output in fiscal year 2024/2025.
ReconAfrica signs exploration deal for 5.2 mn oil acres in Angola
Reconnaissance Energy Africa has signed a memorandum of understanding with ANPG to explore 5.2 mn onshore acres in Angola, expanding its operations into the Damara Fold Belt and Rift Basin.
en_1140290954540-11
ReconAfrica signs exploration deal for 5.2 mn oil acres in Angola
Reconnaissance Energy Africa has signed a memorandum of understanding with ANPG to explore 5.2 mn onshore acres in Angola, expanding its operations into the Damara Fold Belt and Rift Basin.
en_1140290954540-11
Libya: Economic recovery dependent on oil, but weakened by lack of reforms
The IMF forecasts robust economic growth for Libya in 2025 driven by oil, but warns that structural reforms are essential to avoid renewed vulnerability to global market shocks.
en_1140290960540-10
Libya: Economic recovery dependent on oil, but weakened by lack of reforms
The IMF forecasts robust economic growth for Libya in 2025 driven by oil, but warns that structural reforms are essential to avoid renewed vulnerability to global market shocks.
en_1140290960540-10
Washington imposes sanctions on Chinese refinery for processing Iranian oil
The United States has sanctioned Shandong Shengxing Chemical Co., accused of purchasing Iranian oil. This move is part of the "maximum pressure" strategy against Iran, aimed at limiting its oil exports.
en_1140290954540-10
Washington imposes sanctions on Chinese refinery for processing Iranian oil
The United States has sanctioned Shandong Shengxing Chemical Co., accused of purchasing Iranian oil. This move is part of the "maximum pressure" strategy against Iran, aimed at limiting its oil exports.
en_1140290954540-10

Rönesans Holding launches $2 billion polypropylene production plant in Turkey

Rönesans Holding announces a major $2 billion investment to build a polypropylene (PP) production plant in Ceyhan, Turkey, in partnership with SONATRACH and Stolt-Nielsen. This project is expected to strengthen the country’s industrial self-sufficiency.
Libya launches global roadshow to boost oil investment
Libya begins an international promotional tour to present 22 oil blocks, aiming to revive a strategic sector affected by years of instability.
en_1140290961540-9
Libya launches global roadshow to boost oil investment
Libya begins an international promotional tour to present 22 oil blocks, aiming to revive a strategic sector affected by years of instability.
en_1140290961540-9
Tullow Oil sells Kenyan assets to Gulf Energy for $120 mn and remains on standby
Tullow Oil sold its stakes in the Lokichar Basin to Gulf Energy while retaining a future entry right, marking a new step in its debt reduction strategy in Kenya.
en_1140290954540-9
Tullow Oil sells Kenyan assets to Gulf Energy for $120 mn and remains on standby
Tullow Oil sold its stakes in the Lokichar Basin to Gulf Energy while retaining a future entry right, marking a new step in its debt reduction strategy in Kenya.
en_1140290954540-9
US crude oil inventories rise less than expected
US crude reserves rose by only 500,000 barrels, falling short of forecasts, while exports reached their highest level in a year.
en_1140290952540-9
US crude oil inventories rise less than expected
US crude reserves rose by only 500,000 barrels, falling short of forecasts, while exports reached their highest level in a year.
en_1140290952540-9

IEA lowers global oil demand forecast amid rising trade tensions

The International Energy Agency anticipates weaker oil demand growth in 2025, driven by US tariff tensions disrupting market stability and weighing on the shale oil sector.
BP discovers new oil field 190 km off the coast of Louisiana
British group BP has announced a new oil discovery in the deep waters of the Gulf of Mexico, strengthening its investment strategy in hydrocarbons with the aim of increasing production by 2030.
en_1140290963540-5
BP discovers new oil field 190 km off the coast of Louisiana
British group BP has announced a new oil discovery in the deep waters of the Gulf of Mexico, strengthening its investment strategy in hydrocarbons with the aim of increasing production by 2030.
en_1140290963540-5
International Petroleum repurchases 277,060 common shares in April across two markets
International Petroleum Corporation repurchased 277,060 common shares between 7 and 11 April under its ongoing share buyback programme, using the Toronto and Stockholm exchanges.
en_1140290968540-3
International Petroleum repurchases 277,060 common shares in April across two markets
International Petroleum Corporation repurchased 277,060 common shares between 7 and 11 April under its ongoing share buyback programme, using the Toronto and Stockholm exchanges.
en_1140290968540-3
CNOOC starts production at Wenchang 9-7 field in the Pearl River Mouth Basin
CNOOC Limited has begun production at the offshore Wenchang 9-7 oilfield, located in the western Pearl River Mouth Basin, targeting 12,000 barrels of oil equivalent per day by 2027.
en_1140290965540-3
CNOOC starts production at Wenchang 9-7 field in the Pearl River Mouth Basin
CNOOC Limited has begun production at the offshore Wenchang 9-7 oilfield, located in the western Pearl River Mouth Basin, targeting 12,000 barrels of oil equivalent per day by 2027.
en_1140290965540-3

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS