Sept 24 (Reuters) – Colombia’s state-controlled oil company Ecopetrol tapped businessman Joaquin Gutierrez as chief executive, the company said on Thursday, giving one of the country’s most important corporate jobs to a close presidential ally with no known background in the energy sector.
Gutierrez, a former campaign manager for President Abelardo De La Espriella with no known track record in oil and gas, takes over as Ecopetrol faces pressure to raise output and replenish reserves.
- Gutierrez replaces Ricardo Roa, who resigned amid investigations into campaign finance irregularities in the 2022 election and a separate influence-peddling probe linked to a gas contract.
- Gutierrez, a business administrator with a specialization in health management, has been described by media as a longtime confidant of De La Espriella. He has been linked to luxury real estate projects in Bogota and to healthcare investments in the Caribbean city of Barranquilla.
- De La Espriella has promised to strengthen Ecopetrol, boost reserves and secure domestic oil and gas supply, including through fracking.
- Ecopetrol, 88.49% owned by the state, is Colombia’s biggest company. It accounts for most of the country’s crude production and owns the Barrancabermeja and Cartagena refineries, while subsidiary Cenit controls most of the national oil and fuel pipeline network.
- Gutierrez takes over at a critical moment for Ecopetrol, with the company under pressure to raise oil and gas output, shore up its finances and push ahead with its energy transition plans as Colombia seeks to revive investment and restore business confidence.
- The company’s output fell to an average 715,000 barrels of oil equivalent per day in the first half of 2026.
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