Ecopetrol is confronting a potential $3.6 billion in lost value after Colombia’s incoming administration reopened the file on a 2024 acquisition that was previously blocked by the Petro government.
The state-owned oil major had agreed to purchase up to 30% of CrownRock’s assets in the Permian Basin, a move that was halted amid political pressure at the time.
Bank of America recently issued a stark warning for shareholders, estimating that the company’s stock could decline by as much as 28% in the near term.
The reversal of policy stance by the new government signals a significant shift in the regulatory environment for Colombian energy assets.
The reopening of the deal file comes at a critical juncture for Ecopetrol, which has faced mounting pressure from investors and analysts.
Bank of America recently issued a stark warning for shareholders, estimating that the company’s stock could decline by as much as 28% in the near term.
The bank’s analysis highlighted concerns over the state-owned major’s strategic direction and financial performance, despite a wave of recent operational updates.