SUPERINTENDENCY OF INDUSTRY AND COMMERCE CLOSES THE INVESTIGATION INITIATED AGAINST ECOPETROL AND ITS SUBSIDIARIES CENIT AND OCENSA
Idag, 02:51
SUPERINTENDENCY OF INDUSTRY AND COMMERCE CLOSES THE INVESTIGATION INITIATED AGAINST ECOPETROL AND ITS SUBSIDIARIES CENIT AND OCENSA
PR Newswire
BOGOTA, Nov. 13, 2026
BOGOTA , Nov. 13, 2026 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") hereby informs that, by Resolution No. 88976 of 2026 (the "Resolution"), the Superintendency of Industry and Commerce of Colombia (Superintendencia de Industria y Comercio, or "SIC") notified the Company and its subsidiaries Transporte y Logística de Hidrocarburos S.A.S. ("CENIT") and Oleoducto Central S.A. ("OCENSA" and, together with Ecopetrol and CENIT, the "Ecopetrol Group") of the closure of the administrative investigation initiated in 2024. The Company disclosed the initiation of that investigation through this same channel in May 2024. The investigation sought to determine whether the Ecopetrol Group had violated the legal framework governing the protection of free economic competition, specifically the prohibition under Article 1 of Law 155 of 1959, in connection with the alleged steering of the contracting processes for helicopter services conducted between 2011 and 2023.
In the Resolution, the SIC also ordered the closure of the investigation against five individuals associated with CENIT, who had been investigated for allegedly collaborating in, facilitating, authorizing, carrying out and/or tolerating, through action and/or omission, the conduct under investigation.
As a result of the Resolution, the Ecopetrol Group will not be subject to the fines that could have been imposed in the investigation, which could have amounted to approximately COP 525,271,500,000.00.
In the Resolution, the SIC concluded that:
- There was no evidence of coordination or steering by the companies of the Ecopetrol Group of the contracting processes in favor of any bidder.
- The contracting processes involved multiple bidders and competitive dynamics, which were ensured by Ecopetrol and its subsidiaries CENIT and OCENSA.
- The requirements regarding the age and availability of the aircraft were technically substantiated, were consistent with the operational safety standards of the sector and the "Life First" policy, and were related to the subject matter of the contracts entered into by the Company and its subsidiaries.
- The cancellations of certain contracting processes were duly justified.
The SIC also accepted the recommendation of its Competition Advisory Council to close the investigation. In doing so, it departed from the recommendation to impose sanctions that the
Office of the Deputy Superintendent for Competition Protection had issued with respect to the subsidiary charge The Resolution remains subject to a motion for reconsideration, which may be filed within ten (10) business days following notification thereof.
Ecopetrol reiterates its commitment to free competition, transparency in its procurement processes, and the safety of people in its operations.
Ecopetrol is the largest company in Colombia and one of the leading integrated energy companies in the Americas, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of hydrocarbon production, most of the hydrocarbon transportation, logistics, and refining system, and holds leading positions in petrochemicals and gas distribution. With the acquisition of a 51.4% stake in ISA, it participates in power transmission, real-time systems management (XM), and the Costera Barranquilla - Cartagena road concession. Internationally, Ecopetrol has a presence in strategic basins across the Americas, with E&P operations in the United States (Permian Basin and Gulf of Mexico), Brazil, and Mexico, and through ISA and its subsidiaries, it holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, as well as in road concessions in Chile and telecommunications.
For further information, please contact:
Investor Relations Department
Email: investors@ecopetrol.com.co
Media Relations (Colombia)
Email: _noticias@ecopetrol.com.co
View original content to download multimedia: https://www.prnewswire.com/news-releases/superintendency-of-industry-and-commerce-closes-the-investigation-initiated-against-ecopetrol-and-its-subsidiaries-cenit-and-ocensa-302939462.html
SOURCE Ecopetrol S.A.
SUPERINTENDENCY OF INDUSTRY AND COMMERCE CLOSES THE INVESTIGATION INITIATED AGAINST ECOPETROL AND ITS SUBSIDIARIES CENIT AND OCENSA
Idag, 02:51
SUPERINTENDENCY OF INDUSTRY AND COMMERCE CLOSES THE INVESTIGATION INITIATED AGAINST ECOPETROL AND ITS SUBSIDIARIES CENIT AND OCENSA
PR Newswire
BOGOTA, Nov. 13, 2026
BOGOTA , Nov. 13, 2026 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") hereby informs that, by Resolution No. 88976 of 2026 (the "Resolution"), the Superintendency of Industry and Commerce of Colombia (Superintendencia de Industria y Comercio, or "SIC") notified the Company and its subsidiaries Transporte y Logística de Hidrocarburos S.A.S. ("CENIT") and Oleoducto Central S.A. ("OCENSA" and, together with Ecopetrol and CENIT, the "Ecopetrol Group") of the closure of the administrative investigation initiated in 2024. The Company disclosed the initiation of that investigation through this same channel in May 2024. The investigation sought to determine whether the Ecopetrol Group had violated the legal framework governing the protection of free economic competition, specifically the prohibition under Article 1 of Law 155 of 1959, in connection with the alleged steering of the contracting processes for helicopter services conducted between 2011 and 2023.
In the Resolution, the SIC also ordered the closure of the investigation against five individuals associated with CENIT, who had been investigated for allegedly collaborating in, facilitating, authorizing, carrying out and/or tolerating, through action and/or omission, the conduct under investigation.
As a result of the Resolution, the Ecopetrol Group will not be subject to the fines that could have been imposed in the investigation, which could have amounted to approximately COP 525,271,500,000.00.
In the Resolution, the SIC concluded that:
- There was no evidence of coordination or steering by the companies of the Ecopetrol Group of the contracting processes in favor of any bidder.
- The contracting processes involved multiple bidders and competitive dynamics, which were ensured by Ecopetrol and its subsidiaries CENIT and OCENSA.
- The requirements regarding the age and availability of the aircraft were technically substantiated, were consistent with the operational safety standards of the sector and the "Life First" policy, and were related to the subject matter of the contracts entered into by the Company and its subsidiaries.
- The cancellations of certain contracting processes were duly justified.
The SIC also accepted the recommendation of its Competition Advisory Council to close the investigation. In doing so, it departed from the recommendation to impose sanctions that the
Office of the Deputy Superintendent for Competition Protection had issued with respect to the subsidiary charge The Resolution remains subject to a motion for reconsideration, which may be filed within ten (10) business days following notification thereof.
Ecopetrol reiterates its commitment to free competition, transparency in its procurement processes, and the safety of people in its operations.
Ecopetrol is the largest company in Colombia and one of the leading integrated energy companies in the Americas, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of hydrocarbon production, most of the hydrocarbon transportation, logistics, and refining system, and holds leading positions in petrochemicals and gas distribution. With the acquisition of a 51.4% stake in ISA, it participates in power transmission, real-time systems management (XM), and the Costera Barranquilla - Cartagena road concession. Internationally, Ecopetrol has a presence in strategic basins across the Americas, with E&P operations in the United States (Permian Basin and Gulf of Mexico), Brazil, and Mexico, and through ISA and its subsidiaries, it holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, as well as in road concessions in Chile and telecommunications.
For further information, please contact:
Investor Relations Department
Email: investors@ecopetrol.com.co
Media Relations (Colombia)
Email: _noticias@ecopetrol.com.co
View original content to download multimedia: https://www.prnewswire.com/news-releases/superintendency-of-industry-and-commerce-closes-the-investigation-initiated-against-ecopetrol-and-its-subsidiaries-cenit-and-ocensa-302939462.html
SOURCE Ecopetrol S.A.
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