Summary by Futu AI
Ecopetrol S.A., the Colombian national oil company, reported its unaudited interim condensed consolidated financial statements for the first half of 2024, indicating a mixed financial performance amid a favorable crude oil price environment. The company's financial results, filed with the U.S. Securities and Exchange Commission (SEC) in a Form 6-K report for October 2024, showed a 12.7% decrease in total revenues compared to the same period in 2023. Despite higher Brent oil prices averaging $83.4 per barrel, which was an increase from the previous year, the company faced a 39.8% drop in net income for the period. The decrease in revenues was attributed to the depreciation of the Colombian peso against the U.S. dollar and a 3.3% decrease in sales volume. Ecopetrol's...Show More