Ecopetrol SA, formerly known as Empresa Colombiana de Petróleos SA, operates oil and gas fields, pipeline infrastructure, petroleum refineries, petrochemical plants, and fuel stations. Hocol operates as a subsidiary of Ecopetrol. Operations are organized into three business units: Upstream, Midstream, and Downstream. The company is controlled by the government of Ecuador with shares listed on the Bogotá exchange and NYSE (EC) exchanges.
The company can be traced back to the Mares Concession to the Tropical Oil which began operating in 1921. Empresa Colombiana de Petróleos was created in 1948 and took control of the Mares Concession expired when the contract expired in 1951. The company assumed management of the Barrancabermeja in 1961 and the Cartagena refinery built by Intercol in 1974. Ecopetrol was formed in 2003 as a public stock-holding corporation, and the Agencia Nacional de Hidrocarburos (ANH) was created to serve as a regulator for the oil and gas industry. The company performed an IPO on the Colombian exchange in 2007.