Colombia owned oil company, Ecopetrol, and privately owned oil company, Pacific Rubiales Energy were both ratified for the Dow Jones Sustainability Index; Ecopetrol for the third time, and Pacific for the first time, local media reported Thursday.
The Dow Jones Sustainability Index (DJSI) is a group of indexes that result in a leading global benchmark that monitors the financial performance of leading companies related to social, economic, and environmental sustainability. There are currently 12 international companies that are a part of the DJSI, which launched in 1999.
Ecopetrol and Pacific Rubiales Energy had to meet over 50 requirements in order to join this index, and as a result, companies that belong to the DJSI gain a better reputation in the market and have a higher market value, preferred by potential investors.
The two petroleum powerhouses of Colombia have had many joint projects together including Colombia’s largest oil field the Rubiales Oil Field located in the country’s central department of Meta.
“This is good news for the company, and this is good news for the country,” said Valeria Santos, Pacific’s Sustainability Director, “Pacific is now the first private oil company in Latin America that has been distinguished for its ability to discover and develop hydrocarbon reserves sustainably, responsibly, and profitably.”
The third Colombian company that is a member of the DJSI is cement company, Cementos Argos.
View Oil Fields, Puerto Gaitan, Meta, Colombia in a larger map
Sources
- Las petroleras Ecopetrol y Pacific en el Indice Dow Jones (El Espectador)