Colombia · Country watch
Ecopetrol Profits Surge, Dollar Declines
Ecopetrol reports an 83% profit increase, while the Colombian peso strengthens against the dollar.
The picture Improving How this is judged →
Business conditions in Colombia are improving as Ecopetrol reports strong profits and the peso strengthens, reducing costs for importers.
In this briefing Joaquín Gutiérrez · Ecopetrol · TES · Colombian Ministry of Finance · Colombian peso · U.S. dollar
Companies
Ecopetrol profits soar 83% to $13.7 billion
Part of: Ecopetrol's bond issuance and profit surge →
Ecopetrol reported an 83% increase in net profit for the first nine months of 2026, reaching $13.7 billion, according to El Colombiano. The surge was driven by higher international oil prices and improved refining margins, which offset challenges from lower production, exchange rate fluctuations, and increased tax burdens. Revenues grew by 14.3% to $103.9 billion. CEO Joaquín Gutiérrez emphasized the company's focus on spending discipline and the pursuit of new reserves.
Impact Investors in Ecopetrol benefit from strong profit growth and revenue increases amid favorable oil market conditions.
Sources: El Colombiano ↗, El Tiempo Economía ↗, Valora Analitik ↗
Markets
Foreign funds set record in TES purchases
Foreign investors set a record in purchasing Colombian TES (Treasury Securities) in October, acquiring $10.17 billion worth, according to Valora Analitik. This marks a significant shift in demand for the country's public debt, driven by international capital flows seeking opportunities in Colombian markets amid ongoing debt swaps.
Impact Colombian public debt markets see increased demand from international investors, enhancing liquidity and confidence in TES securities.
Sources: Valora Analitik ↗
Colombian peso strengthens as dollar declines
Part of: Fluctuations in Colombian Peso against US Dollar →
The Colombian peso strengthened against the dollar, with the exchange rate opening at $3,284.12, below the market representative rate of $3,297.07, according to El Colombiano. The peso's rise comes amid global market attention on U.S. Federal Reserve decisions, economic data, and geopolitical tensions.
Impact Importers and companies with dollar-denominated expenses benefit from the stronger peso, reducing costs in local currency terms.
Sources: El Colombiano ↗, Valora Analitik ↗
Nothing significant reported today in Regulation · Disruption · Internal tension · Safety & health · Trade · Politics.
Also today in the local press
- Resultados de Cementos Argos: utilidad cayó 29,2 % en el tercer trimestre, golpeada por el dólar y mayores costos de energía — El Tiempo Economía
- Nuevo operativo de Abelardo de la Espriella contra bandas criminales en Bucaramanga: esto se sabe — El Colombiano
- El dólar se cotiza en $3.290,41, $6,66 por debajo de la TRM del día, que se ubicó en $3.297,07 — La República
- Metro Bank, de Jaime Gilinski, explora una posible venta e invitó a presentar ofertas — La República
- Grupo Davivienda ganó $ 1,85 billones a septiembre y entra en nueva etapa tras incorporar a Davibank — El Tiempo Economía
- Nu Holdings (Nubank) registró utilidades récord de US$1.100 millones en el tercer trimestre, con un crecimiento de 31 % — Valora Analitik
- Desplome del 64,1 % en ganancias de Celsia en el tercer trimestre de 2026 por El Niño y ajustes regulatorios — El Tiempo Economía
- Odinsa reporta caída en ingresos durante el tercer trimestre de 2026 — Valora Analitik
Sources in this briefing
Sources: each headline links to the original article on the publisher's site.