Energy Central Professional


Ecopetrol seeks to produce hydrogen; selects six allies

CE Noticias Financieras  


    Since June, Ecopetrol and six international companies will work to strengthen the strategic plan for hydrogen generation (green, blue and gray). To achieve this, the oil company selected these allies from the application of 80 companies from 16 countries.

    Those selected were Total Eren and EDF from France, Siemens Energy from Germany, H2B2 from Spain, Empati from the United Kingdom and Mitsui from Japan.

    The objective of this plan is to develop low-emission projects to decarbonize hydrogen production in the company, as well as to generate industrial and sustainable mobility initiatives. It also aims to structure financing and investment opportunities.

    "We have 18 opportunities and studies underway to achieve this, and these alliances with specialized companies will strengthen our plan to achieve the goals we have set in our 2040 Energy that Transforms strategy," said Ecopetrol's president, Felipe Bayón.

    By 2040, the company expects to produce one million tons of hydrogen, for which it will allocate about 140 million dollars a year until 2024. Additionally, they assured that it will contribute between 9% and 11% to the goal of halving the oil company's emissions by 2050. It is worth mentioning that at the beginning of May Ecopetrol presented its financial results for the first quarter. During this period, the company's total sales increased 88.70%.

    "Although high prices have favored our revenues, they have also generated challenges in terms of inflation, high energy costs and the international logistics crisis, which are beginning to put pressure on operating costs," said Felipe Bayón, president of the company. He also stated that this is the company's best quarterly result ever.

    The cost of sales, however, also showed growth, although not as high, and was 70.60 percent. Likewise, consolidated net income also showed a positive evolution. It grew 116.80 percent compared to its 12-month benchmark.

    In the case of net income attributable to shareholders, it had a positive variation of 113%. These figures are also the best obtained by the company. Ebitda reached a margin of 49% during the first three months.

    It is worth noting that since the fourth quarter of last year, Ecopetrol added to its results the figures obtained by ISA, whose acquisition closed last year.

    With respect to the unconventional oilfield pilots, the company informed that it expects to have the Anla's resolution that clears the way for the development of Kalé.


Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.