Ricardo Roa declares himself 'calm' amidst questioning and defends Ecopetrol's financial strength
Ricardo Roa Barragán, president of Ecopetrol. Photo: César Melgarejo / Portafolio
TL;DR
- Ecopetrol President Ricardo Roa assured shareholders about the company's financial health and his personal calm.
- He addressed the company's debt level, explaining it originates partly from prior administrations' decisions, such as the acquisition of ISA.
- Roa stated that Ecopetrol's debt/EBITDA ratio closed the year at 2.3 times, below the 2.5 times limit set by rating agencies.
- The company reduced its fiscal pressures related to the Fuel Price Stabilization Fund (Fepc).
- Roa acknowledged the pressure from the USO union and minority shareholders calling for his resignation.
- He maintained a calm demeanor, distinguishing his personal situation from his institutional role as president.
- The USO union insists on Roa's departure, warning of mobilization actions if no decision is made by the Board of Directors.