Ecopetrol: Ecopetrol Group officially opened its office in Singapore

The Ecopetrol Group, through its subsidiary Ecopetrol Trading Asia, officially opened its office in Singapore within the framework of APPEC 2022, the main meeting of the oil and gas industry in the Asia Pacific region.

Just 4 months after starting operations, the subsidiary has already managed to secure sales 55% above what was projected in the plan. This is mainly due to the advantages of having a specialized team present in the region, which allows taking advantage of opportunities in real time, through a greater relationship with current and potential clients, as well as a broad understanding of how the local environment works. .

“We are pleased to advance in the Ecopetrol Group’s internationalization plan with the opening of this new office in Singapore, in line with our purpose of consolidating ourselves as the main diversified energy group in Latin America with a presence in 9 countries. Asia is the main destination for our exports and being here makes it easier for us to be close to our customers and capture more and better opportunities,” said Felipe Bayón, president of the Ecopetrol Group, during the first customer relations event organized by the company in Asia.

Ecopetrol Trading Asia currently markets an approximate volume of 8 million barrels of crude oil per month, mainly Ecopetrol Castilla Blend®, Ecopetrol Mares Blend® and Ecopetrol Apiay Blend®, mixtures from the production fields of the Eastern Plains and Middle Magdalena. , and that have an outstanding position in international markets.

The subsidiary has also closed several contracts with well-known companies in India and China, as a result of an extensive relationship schedule with state organizations and visits to clients in the main Asian markets to identify new businesses.

Among the main challenges of the office in Singapore is entering new markets in the region and increasing sales volumes to other countries, such as Japan and South Korea.

Additionally, they plan to venture into the marketing of third-party barrels and crude from sources other than Colombia, such as the Brazilian off-shore and the Permian in the United States.