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Financial News: ECOPETROL: Company Establishes Subsidiary For Energy Tradi

ECOPETROL: Company Establishes Subsidiary For Energy Trading

03/19/2018 - 12:57:00 (RTTNews)

(RTTNews) - The Colombian state-owned oil company Ecopetrol reported that on March 14 it formed the subsidiary Ecopetrol Energía SAS E.S.P. in Colombia to trade electricity for the business group.

Ecopetrol Energía SAS E.S.P has an authorized capital of 3 million Colombian pesos and subscribed capital for an equal value.

The company reported in a press release that in the new subsidiary it has a direct shareholding of 99% in the share capital and an indirect stake of the remaining 1% through Andean Chemicals Ltd., a foreign company that is also owned by Ecopetrol S.A.

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