Colombia's state oil company Ecopetrol reached a final collective bargaining agreement with the Unión Sindical Obrera (USO) on June 13, ending a process that ran through more than 990 negotiating sessions and included a 24-hour strike earlier this month, the company disclosed in an SEC filing on June 15, El Espectador reported.
The new agreement runs for six years from 1 January 2026 and covers improvements in working conditions, health and education benefits, and diversity and inclusion initiatives. Ecopetrol also finalised 66 separate agreements with other participating unions as part of the same process, the company said.
The deal closes a prolonged dispute. USO had filed a complaint with the Ministry of Labour in late December 2025 to trigger the formal renegotiation process, and on 2 June launched a 24-hour walkout over what it described as a deadlock in talks. According to sources cited by Reuters, the union had sought a pay rise of inflation plus 20% in year one, followed by inflation plus 10% in each of the subsequent four years, along with a reduction in working hours.
Ecopetrol said it plans to file and formalise the agreement with the Ministry of Labour in the coming days, after which it and USO intend to hold joint nationwide sessions to explain the terms to workers. The company also noted that acting chief executive Juan Carlos Hurtado Parra — who has led the group since CEO Ricardo Roa Barragán began medical leave on May 26 — oversaw the conclusion of the process.
Ecopetrol, listed on both the Bolsa de Valores de Colombia and the New York Stock Exchange, is Colombia's largest company and accounts for more than 60% of the country's hydrocarbon production. The labour deal removes a significant operational risk heading into a critical year for the company, which faces tightening gas supply, declining output and a presidential election that could reshape the regulatory environment for the entire energy sector.
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