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SUPERINTENDENCY OF INDUSTRY AND COMMERCE CLOSES THE INVESTIGATION INITIATED AGAINST ECOPETROL AND ITS SUBSIDIARIES CENIT AND OCENSA

EC
  • The Superintendency of Industry and Commerce of Colombia (SIC) closed the 2024 administrative investigation into Ecopetrol S.A. & its subsidiaries CENIT & OCENSA via Resolution No. 88976 of 2026.
  • The investigation examined allegations of steering contracting processes for helicopter services between 2011 & 2023 in violation of Law 155 of 1959.
  • The SIC concluded there was no evidence of coordination or steering by the Ecopetrol Group in favor of any bidder.
  • The SIC found that contracting processes involved multiple bidders & competitive dynamics were ensured by the companies.
  • Aircraft age & availability requirements were deemed technically substantiated, consistent with safety standards & the "Life First" policy.
  • Cancellations of certain contracting processes were found to be duly justified by the regulator.
  • The investigation against five individuals associated with CENIT was also closed.
  • The closure exempts the Ecopetrol Group from potential fines of approximately COP 525,271,500,000.00.
  • The SIC accepted the recommendation of its Competition Advisory Council to close the case, departing from the Office of the Deputy Superintendent for Competition Protection's recommendation to impose sanctions.
  • The Resolution is subject to a motion for reconsideration that may be filed within ten (10) business days of notification.
  • Ecopetrol reaffirmed its commitment to free competition, transparency in procurement, & operational safety.
Company
Ecopetrol S.A.
Keywords
Ecopetrol S.A.