BOGOTA, Colombia, March 22, 2012 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC; TSX: ECP), the integrated Colombian crude oil and gas company, informs the decisions made in the General Shareholders Meeting celebrated today, with regard to the new arrangement of its Board of Directors:
The Director of the National Department of Planning
Fabio Echeverri Correa
Joaquin Moreno Uribe
Federico Renjifo Velez
Luis Carlos Villegas
Amylkar Acosta Medina (representative of the departments of hydrocarbon production)
Roberto Steiner Sampedro (representative of minority shareholders).
Ecopetrol is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 50 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice.