EC - Ecopetrol forms two new subsidiaries to strengthen its footprint in the Asian market

MicroStockHub/iStock via Getty Images Ecopetrol (EC) announces incorporation of Ecopetrol Singapore Pte Ltd., a company in which it will directly own 100% of its share capital. Further, the aforementioned company will own 100% of the share capital of Ecopetrol Trading Asia Pte Ltd., whose main purpose will be the international commercialization of crude and refined products of the Ecopetrol Group and of third parties in Asia. Both companies will be domiciled in Singapore. Ecopetrol Trading Asia Pte Ltd. will be incorporated days after the establishment of Ecopetrol Singapore Pte Ltd. and it is expected to start operations in the first quarter of 2022, after completing the pre-operational stage. The incorporation of these new subsidiaries, aims to strengthen Ecopetrol's presence in the Asian market, which is a fast-growing market globally, seeking to increase competitiveness to the Ecopetrol Group's heavy crude and products in the new energy transition environment.

For further details see:

Ecopetrol forms two new subsidiaries to strengthen its footprint in the Asian market