{"id":519600,"date":"2021-07-29T06:47:10","date_gmt":"2021-07-29T10:47:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/"},"modified":"2021-07-29T06:47:10","modified_gmt":"2021-07-29T10:47:10","slug":"ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/","title":{"rendered":"Ecopetrol opposes to the preliminary injunctive relief requested in a public action (&#8220;Acci\u00f3n Popular&#8221;) filed against the sale of ISA"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">BOGOTA, Colombia<\/span>, <span class=\"xn-chron\">July 29, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Ecopetrol S.A. (BVC: Ecopetrol; NYSE: EC) hereby reports\u00a0that on <span class=\"xn-chron\">July 28, 2021<\/span>, it filed a statement in opposition to the preliminary injunctive relief requested within a public action <i>(acci\u00f3n popular)<\/i> to which it was named as defendant by means of a judicial order notified on <span class=\"xn-chron\">July 21, 2021<\/span>. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/95646\/ecopetrol_s_a__logo.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/95646\/ecopetrol_s_a__logo.jpg\" title=\"Ecopetrol Logo. (PRNewsFoto\/Ecopetrol S.A.)\" alt=\"Ecopetrol Logo. (PRNewsFoto\/Ecopetrol S.A.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>The\u00a0<i>acci\u00f3n popular<\/i> is being processed by the First Section of the Administrative Court of Cundinamarca and was filed by\u00a0<i>Fundaci\u00f3n\u00a0Defensa de la Informaci\u00f3n Legal y Oportunidad \u2013 Dilo Colombia<\/i>. The claimant is requesting the Court to issue a preliminary injunctive relief measure to cause\u00a0the Ministry of Finance and Public Credit and Ecopetrol &#8220;&#8230; to refrain from continuing the process to sell the\u00a0Nation&#8217;s share ownership in ISA to Ecopetrol &#8230;&#8221;<\/p>\n<p>Ecopetrol opposes to the injunctive relief\u00a0on the grounds that the claim has\u00a0no legal basis. In its\u00a0statement, Ecopetrol\u00a0exposes\u00a0the technical, financial, and legal arguments that show that\u00a0<i>Fundaci\u00f3n Dilo Colombia<\/i>\u00a0did not comply with the legal requirements for said preliminary injunctive relief measure to be granted.\u00a0 In addition,\u00a0Ecopetrol\u00a0explained that the potential sale of the Nation&#8217;s ownership in ISA is allowed by Colombian legislation, maximizes benefits to the Nation and to Ecopetrol, and does not threaten or violate any of the collective rights invoked by the claimant.<\/p>\n<p>Ecopetrol will continue to defend the legality of the\u00a0potential ISA\u00a0transaction\u00a0in all stages of the judicial process described herein.<\/p>\n<p>\n        <i>Ecopetrol is the largest company in <span class=\"xn-location\">Colombia<\/span> and one of the main integrated oil and gas conglomerates in <span class=\"xn-location\">Latin America<\/span>, with more than 13,000 employees. It accounts\u00a0for more than 60% of the hydrocarbon production in <span class=\"xn-location\">Colombia<\/span>, and it owns the largest refineries and most of the\u00a0country&#8217;s oil-pipelines and multi-purpose pipelines\u00a0network.\u00a0It also participates in the commercialization of energy and in the distribution of gas. At the international level, Ecopetrol focuses on strategic basins on the American continent, with E&amp;P operations in <span class=\"xn-location\">the United States<\/span> (the Permian basin and\u00a0the\u00a0Gulf\u00a0of <span class=\"xn-location\">Mexico<\/span>), <span class=\"xn-location\">Brazil<\/span> and Mexico.\u00a0This press release contains statements relating to business prospects, estimates of operating and financial results, and\u00a0Ecopetrol&#8217;s\u00a0growth prospects. All are projections, and therefore are based solely on management&#8217;s expectations of the company&#8217;s future and its continuous access to capital to finance its sales plan. Achieving these estimates in the future depends on its performance under given market conditions, regulations, competition, the performance of the Colombian economy and industry, and other factors; therefore, they are subject to change without prior notice.<\/i>\u00a0<\/p>\n<p>\n        <b>For further details, please contact:<\/b>\u00a0<\/p>\n<p>\n        <b>Head of Capital Markets<\/b>\u00a0<br \/>Tatiana Uribe Benninghoff\u00a0<br \/>Phone: +571-234-5190\u00a0<br \/>Email:\u00a0<u><a target=\"_blank\" href=\"mailto:investors@ecopetrol.com.co\" rel=\"nofollow noopener\">investors@ecopetrol.com.co<\/a><\/u>\u00a0<\/p>\n<p>\n        <b>Media Engagement (<span class=\"xn-location\">Colombia<\/span>)<\/b>\u00a0<br \/>Jorge Mauricio Tellez\u00a0<br \/>Phone: + 571-234-4329\u00a0<br \/>Email:\u00a0<u><a target=\"_blank\" href=\"mailto:mauricio.tellez@ecopetrol.com.co\" rel=\"nofollow noopener\">mauricio.tellez@ecopetrol.com.co<\/a><\/u>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SP58657&amp;sd=2021-07-29\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa-301344138.html\">https:\/\/www.prnewswire.com\/news-releases\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa-301344138.html<\/a><\/p>\n<p>SOURCE  Ecopetrol S.A.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SP58657&amp;Transmission_Id=202107290643PR_NEWS_USPR_____SP58657&amp;DateId=20210729\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire BOGOTA, Colombia, July 29, 2021 \/PRNewswire\/ &#8212;\u00a0Ecopetrol S.A. (BVC: Ecopetrol; NYSE: EC) hereby reports\u00a0that on July 28, 2021, it filed a statement in opposition to the preliminary injunctive relief requested within a public action (acci\u00f3n popular) to which it was named as defendant by means of a judicial order notified on July 21, 2021. The\u00a0acci\u00f3n popular is being processed by the First Section of the Administrative Court of Cundinamarca and was filed by\u00a0Fundaci\u00f3n\u00a0Defensa de la Informaci\u00f3n Legal y Oportunidad \u2013 Dilo Colombia. The claimant is requesting the Court to issue a preliminary injunctive relief measure to cause\u00a0the Ministry of Finance and Public Credit and Ecopetrol &#8220;&#8230; to refrain from continuing the process to sell the\u00a0Nation&#8217;s share ownership in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ecopetrol opposes to the preliminary injunctive relief requested in a public action (&#8220;Acci\u00f3n Popular&#8221;) filed against the sale of ISA&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-519600","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ecopetrol opposes to the preliminary injunctive relief requested in a public action (&quot;Acci\u00f3n Popular&quot;) filed against the sale of ISA - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ecopetrol opposes to the preliminary injunctive relief requested in a public action (&quot;Acci\u00f3n Popular&quot;) filed against the sale of ISA - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BOGOTA, Colombia, July 29, 2021 \/PRNewswire\/ &#8212;\u00a0Ecopetrol S.A. (BVC: Ecopetrol; NYSE: EC) hereby reports\u00a0that on July 28, 2021, it filed a statement in opposition to the preliminary injunctive relief requested within a public action (acci\u00f3n popular) to which it was named as defendant by means of a judicial order notified on July 21, 2021. The\u00a0acci\u00f3n popular is being processed by the First Section of the Administrative Court of Cundinamarca and was filed by\u00a0Fundaci\u00f3n\u00a0Defensa de la Informaci\u00f3n Legal y Oportunidad \u2013 Dilo Colombia. The claimant is requesting the Court to issue a preliminary injunctive relief measure to cause\u00a0the Ministry of Finance and Public Credit and Ecopetrol &#8220;&#8230; to refrain from continuing the process to sell the\u00a0Nation&#8217;s share ownership in &hellip; Continue reading &quot;Ecopetrol opposes to the preliminary injunctive relief requested in a public action (&#8220;Acci\u00f3n Popular&#8221;) filed against the sale of ISA&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-29T10:47:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/95646\/ecopetrol_s_a__logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Ecopetrol opposes to the preliminary injunctive relief requested in a public action (&#8220;Acci\u00f3n Popular&#8221;) filed against the sale of ISA\",\"datePublished\":\"2021-07-29T10:47:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\\\/\"},\"wordCount\":492,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/95646\\\/ecopetrol_s_a__logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\\\/\",\"name\":\"Ecopetrol opposes to the preliminary injunctive relief requested in a public action (\\\"Acci\u00f3n Popular\\\") filed against the sale of ISA - 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(BVC: Ecopetrol; NYSE: EC) hereby reports\u00a0that on July 28, 2021, it filed a statement in opposition to the preliminary injunctive relief requested within a public action (acci\u00f3n popular) to which it was named as defendant by means of a judicial order notified on July 21, 2021. The\u00a0acci\u00f3n popular is being processed by the First Section of the Administrative Court of Cundinamarca and was filed by\u00a0Fundaci\u00f3n\u00a0Defensa de la Informaci\u00f3n Legal y Oportunidad \u2013 Dilo Colombia. The claimant is requesting the Court to issue a preliminary injunctive relief measure to cause\u00a0the Ministry of Finance and Public Credit and Ecopetrol &#8220;&#8230; to refrain from continuing the process to sell the\u00a0Nation&#8217;s share ownership in &hellip; Continue reading \"Ecopetrol opposes to the preliminary injunctive relief requested in a public action (&#8220;Acci\u00f3n Popular&#8221;) filed against the sale of ISA\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-29T10:47:10+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/95646\/ecopetrol_s_a__logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Ecopetrol opposes to the preliminary injunctive relief requested in a public action (&#8220;Acci\u00f3n Popular&#8221;) filed against the sale of ISA","datePublished":"2021-07-29T10:47:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/"},"wordCount":492,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/95646\/ecopetrol_s_a__logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/ecopetrol-opposes-to-the-preliminary-injunctive-relief-requested-in-a-public-action-accion-popular-filed-against-the-sale-of-isa\/","name":"Ecopetrol opposes to the preliminary injunctive relief requested in a public action (\"Acci\u00f3n Popular\") filed against the sale of ISA - 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