Ecopetrol S.A. (EC) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. My name is Natalia and I will be your operator today. Welcome to the COPETROS Earnings Conference Call, in which we will discuss the main financial and operating results of the first quarter of 2025. There will be a questions and answers session at the end of the presentation. Before we begin, it is important to mention that the comments in this call by Ecopetrol Senior Management include projections of the company's future performance. These projections do not constitute any commitment as to future results, nor do they take into account risks or uncertainties that could materialize. As a result, Ecopetrol assumes no responsibility in the event that future results are different from the projections shared on this conference call. The call will be led by Mr. Ricardo Roa, CEO of Ecopetrol, Rafael Guzman, Executive Vice President of Hydrocarbons, Camilo Arco, CFO, and David Riaño, Executive Vice President of Transition Energies. Quarter results call of the Ecopetrol Group for 2025. The first months of the year were marked by high global uncertainty with a notable volatility in Brent prices, driving by geopolitical tensions and an increased supply from OPEC+. These factors required the activation of different plans to address lower price scenarios. At Ecopetrol, we have historically anticipated these challenges with a strong strategy diversifying our customer base, enhancing our commercial management, and maintaining operational and capital discipline. This approach has enabled us to navigate the environment confidentially and take advantage of the opportunities that emerged. In the hydrocarbons line, we close the quarry with an average production of 745,000 bottles of oil equivalent per day in line with our annual goals and maintaining a growing trend desp...