Colombia's Ecopetrol faces board overhaul and refinery hiring pause under new administration

Incoming Colombian president‑elect Abelardo de la Espriella plans to replace several board members of state‑run oil company Ecopetrol, targeting officials linked to former president Gustavo Petro. The proposed changes include removing Ricardo Roa and reshuffling other directors while retaining some incumbents, aiming to restore the firm’s financial solidity and resume oil exploration, including fracking.

At the same time, Ecopetrol announced a temporary suspension of the hiring process for maintenance services at its Barrancabermeja and Cartagena refineries. The pause allows the company to review the procurement protocol, consider possible involvement of its compliance unit and the national prosecutor’s office, and address allegations of irregularities in contracts valued at roughly US$700 million.