COLOMBIA · ENERGY
Key Facts
- The country Colombia is a US partner and major oil producer, led since August 2026 by President Abelardo De la Espriella.
- The company Ecopetrol is Colombia’s state-controlled oil company, and its American depositary shares trade on the New York Stock Exchange.
- What happened On 22 October 2026 De la Espriella summoned Ecopetrol president Joaquín Gutiérrez to the Casa de Nariño, the presidential palace in Bogotá.
- The purpose The meeting is meant to define a recovery strategy for a company that critics say was badly run under Gustavo Petro.
- The man summoned The Ecopetrol chief ran De la Espriella’s campaign, was elected by the board in late September, and has no recorded oil career.
- Still open No date, time or outcome of the meeting has been published, and Ecopetrol has not announced any change of course.
- Power Index Colombia ranks 6th of 14 in The Rio Times Latin America Power Index, with 51.9 points (October 2026 edition).
Colombia’s president has summoned the Ecopetrol chief, Joaquín Gutiérrez, to the presidential palace to keep shaping a recovery plan for the state oil company. El Heraldo, a newspaper in Barranquilla, reported the summons on Thursday 22 October 2026.
Ecopetrol shares trade in New York, so a presidential push on the company’s direction reaches American investors. The meeting follows a long cabinet session at the same palace, the Casa de Nariño in Bogotá.
What Happened to the Ecopetrol Chief
President Abelardo De la Espriella called Gutiérrez to the Casa de Nariño after a long meeting of his ministers, according to El Heraldo. The stated aim is to keep defining a strategy to recover the company.
On X, the president wrote about the rebirth of what he called the most important company of the homeland. El Heraldo did not give the date, time or result of the meeting with the Ecopetrol chief.
Who Is Joaquín Gutiérrez
The new Ecopetrol chief is a business administrator who has known De la Espriella for more than 20 years and coordinated his campaign. La Silla Vacía, a Colombian political news site, reported that the board elected him unanimously on 24 September.
Cambio, a Bogotá news magazine, says he took over on 28 September and is the third Ecopetrol president of 2026. El Colombiano says his career has been in private companies, health care and legal advice, away from the oil and gas sector.
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Why the President Wants a Recovery Plan
El Heraldo writes that several political sectors say Ecopetrol was badly managed under Petro, who governed until August 2026. Ricardo Roa, the former president of the company, left after two investigations, according to La Silla Vacía.
At the 25 September event in Santa Marta, which El Heraldo calls his swearing-in, De la Espriella told Gutiérrez he answers for making it work. The president said Ecopetrol was entering a new era that demands business judgment.
A New Management Team in Place
Ecopetrol said its board approved three new vice presidents on 30 September, as Blu Radio and Cambio reported. Mónica Jiménez takes the legal department, Mauricio Gutiérrez leads strategy and new business, and Camilo Rojas runs administration, including purchasing.
Cambio notes that Ecopetrol accounts for more than half of Colombia’s oil and gas production. The article carries no statement from the Ecopetrol chief on his plans.
The Gas and Oil Problems Waiting on the Desk
Colombia imports a growing share of its gas, and Ecopetrol declared its five-year liquefied natural gas import tenders void on 19 October. Our report on the Ecopetrol gas plan and the 39% fall in reserves covers that decision.
Oil workers also want a say, and the USO union has pressed for new exploration contracts and fracking pilots, El Colombiano reported. Our explainer on Ecopetrol sets out how the company is structured and who controls it.
What It Means for US Readers
Ecopetrol’s American depositary shares trade in New York, so a shift in strategy or board control can move a stock held by US funds. Our earlier report on the board shake-up and the exit of Roa shows how quickly the company’s leadership has changed this year.
A government that steers the company closely raises the chance of faster decisions and the risk of political pressure. Investors will watch whether the Ecopetrol chief sets the course or only carries out orders.
What Is Not Known
El Heraldo does not say when the meeting took place or what was agreed. The government has not said whether the talks cover fracking pilots, new exploration contracts, dividends or more changes to the board.
Ecopetrol has not published a statement on the summons. It is also unclear how the Ecopetrol chief will keep day-to-day decisions independent from the palace.
More: Colombia news in English, every day from The Rio Times.
Frequently Asked Questions
Who summoned the Ecopetrol chief?
President Abelardo De la Espriella summoned Ecopetrol president Joaquín Gutiérrez to the Casa de Nariño, El Heraldo reported on 22 October 2026. The meeting followed a long cabinet session.
Why did the president call the Ecopetrol chief?
The stated aim is to keep defining a strategy to recover Ecopetrol. Several political sectors say the company was badly managed under former president Gustavo Petro.
Who is the Ecopetrol chief, Joaquín Gutiérrez?
He is a business administrator and longtime friend of the president who coordinated his campaign. The board elected him president of Ecopetrol in late September 2026.
Does the Ecopetrol chief have an oil background?
El Colombiano reports no recorded experience in oil, gas or energy. The board has since added vice presidents for legal affairs, strategy and administration.
Can US investors buy Ecopetrol?
Ecopetrol’s American depositary shares trade on the New York Stock Exchange. Anyone considering them should read the company’s own filings and speak to a licensed adviser.
Sources: El Heraldo, Abelardo de la Espriella citó a una reunión a Joaquín Gutiérrez, presidente de Ecopetrol, 22 October 2026; Cambio, Nuevos vicepresidentes de Ecopetrol, October 2026; La Silla Vacía, Junta de Ecopetrol eligió al amigo de Abelardo como presidente, 24 September 2026; El Colombiano, Joaquín Gutiérrez, candidato de De la Espriella a la presidencia de Ecopetrol, August 2026; Blu Radio, Ecopetrol realizó tres nuevos nombramientos en su alta gerencia, 30 September 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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