Colombia’s oil company Ecopetrol ranks second in Latin America and 30th in the world, according to a survey by a McGraw-Hill energy company.
Ecopetrol’s high profit margins coupled with a rapid annual growth rate in 2009 put the company, for the first time, in the ranks as one of the best energy companies in the world. The survey was conducted by Platts, a division of the McGraw-Hill Companies and only incorporated companies within the stock market.
The complete scale comprised of 250 oil, gas and electricity producing companies across the world and Ecopetrol – Colombia’s largest – ranked in 30th position. The company came in at eighth place in the Americas.
This ranking which is based on a combination of assets, revenues, profit and return on investment has been championed for the last five years by U.S. run Exxon Mobil, which has assets 14 times higher than those of Ecopetrol. However, the profitability of the two companies is not very distant.
For Platts, not only Ecopetrol’s shares in Colombia were important but also it’s income on Wall Street as well as it’s plans to use resources obtained in this way to dupilcate crude oil production.