Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  BOLSA DE VALORES DE COLOMBIA  >  Ecopetrol SA    ECO   COC04PA00016

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Ecopetrol S.A. : Colombia's Santos Says Weak Dollar Hurting Latin America

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/14/2012 | 07:45pm CEST

Colombia President Juan Manuel Santos said Saturday said he's worried about weakness in the U.S. dollar--a concern also voiced by Brazil--because he said it makes Latin American exports less competitive overseas.

Santos, participating in a forum with U.S. President Barack Obama and his Brazilian counterpart Dilma Rousseff, warned the expansive monetary policy in much of the developed world, in which the U.S. and other countries essentially print money in excess to pay their bills, is "exporting the (economic) crisis to us."

His comments, made during a conference at the Summit of the Americas in Cartagena, followed similar comments earlier in the day by Brazil's Rousseff, in which she said her country needs to take more measures to defend itself from the weakness of the dollar.

Rousseff said highly accommodative monetary policy the U.S. Federal Reserve, which acts independently of the U.S. government but is subject to congressional oversight, has flooded emerging markets such as Brazil with dollars, causing harmful global economic imbalances.

Santos said despite the problems caused by the weak dollar, Colombia will stay focused on boosting its exports and increasing trade with the rest of Latin America and the U.S. A free trade agreement between the U.S. and Colombia is expected to go into effect later this year.

Both Brazil and Colombia have taken extraordinary measures in recent years to try and stop their currencies from strengthening too much against the dollar in free-floating foreign exchange markets. A strong local currency makes a country's exports much more expensive in overseas markets, often times preventing exporters from being able to sell their products.

In the case of Colombia, the local central bank for much of the past two years has bought $20 million each day in the foreign exchange market to mop up excess dollars. The Colombian government also instructed its national oil company Ecopetrol (EC, ECOPETROL.BO) this year to hold off on repatriating more than a $1 billion in overseas dollar profits from the sale of crude oil, its top export.

Such measures, though, haven't been enough. The peso closed Friday's trading session at COP1,776.20 for a dollar and is 9% stronger against the U.S. currency in 2012, making it one of the fastest-rising currencies in the world.

-By Darcy Crowe and Dan Molinski, Dow Jones Newswires; 57-310-867-6542; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ECOPETROL SA
05/22 FEDERATED INVESTORS : Fox Run Management L.L.C. Invests $152,000 in Ecopetrol SA..
05/18 ECOPETROL S.A. : 'S Board of Directors Approves Membership of Committees
05/17 ECOPETROL : announces the non-filing of its annual report on Form 20-F for the y..
05/16 ECOPETROL S.A. : 'S Board of Directors Approves Membership of Committees
05/15 ECOPETROL : Commodity updates - colombia proclaims largest gas find in nearly 3 ..
05/12 ECOPETROL : Business Group presents First Quarter 2017 Results
05/11 ECOPETROL : Announces Timing of the First Quarter of 2017 Earnings Report and Co..
05/09 ECOPETROL : Latest find off Colombia could delineate new gas province
05/06 ECOPETROL : Anadarko, Ecopetrol Confirm New Gas Province Offshore Colombia
05/05 ECOPETROL : Successful Exploration in the Colombian Caribbean Deep-Water
More news
Sector news : Integrated Oil & Gas
05/23 Rosneft cuts oil output with an eye to ramping up again
05/23 Norway oil ministry says has no plan to cut oil output
05/23DJPETROLEO BRASILEIRO PETROBRAS : Petrobras Issues $4 Billion in Debt on Internati..
05/23 PETROLEO BRASILEIRO PETROBRAS : Petrobras says plans to sell Jurua gas field in ..
05/22DJChina Wants More Private Money for Its State-Owned Energy Giants -- Update
More sector news : Integrated Oil & Gas
News from SeekingAlpha
05/16 PACCAR : Looking Towards The Future
05/12 Ecopetrol +6% after strong Q1
05/12 Ecopetrol reports Q1 results
05/03 Ecopetrol, Anadarko discover gas in deepwater Caribbean
04/12 SAExploration inks deal to provide geophysical services in Colombia
Advertisement
Financials ( COP)
Sales 2017 54 310 467 M
EBIT 2017 13 249 269 M
Net income 2017 5 000 000 M
Debt 2017 48 909 990 M
Yield 2017 3,90%
P/E ratio 2017 12,68
P/E ratio 2018 8,15
EV / Sales 2017 1,98x
EV / Sales 2018 1,84x
Capitalization 58 591 290 M
More Financials
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 1 376  COP
Spread / Average Target -3,4%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Juan Carlos Echeverry Garzón President & Chief Executive Officer
Carlos Alfredo Cure Cure Chairman
Felipe Bayón Pardo Chief Operations Officer
María Fernanda Suárez Londoño Chief Financial Officer
Andrés Mantilla Vice President-Innovation & Technology
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ECOPETROL SA20 214
ROYAL DUTCH SHELL A-5.64%227 893
PETROCHINA COMPANY LIM..-4.40%195 159
TOTAL-0.69%134 599
ENI SPA-2.78%61 377
STATOIL ASA-3.28%59 922
More Results