OREANDA-NEWS. Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) clarifies, in relation with Resolution No. 2827 of 2014, issued by the Ministry of Finance and Public Credit, that the Company is authorized "to issue, subscribe and place through an Issue and Placement Program, Internal Public Debt Non-Convertible Bonds, and Commercial Securities for up to TWO TRILLION ONE HUNDRED BILLION PESOS (COPUSD 2,100,000,000,000) Colombian legal currency", that this sum is part of the total COPUSD 3 trillion authorized by the Colombian Finance Superintendence in August 2013, on which COPUSD 900 billion were issued last year.

Furthermore, the Resolution updates the indebtedness authorization granted by the National Planning Department, which would allow for further issues up to year 2016.

This authorization, per se, is neither an issue of securities, nor a financing operation.

Ecopetrol is the largest company in Colombia and is integrated into the oil chain; it is among the 50 major oil companies in the world and among the four main ones in Latin America. Besides Colombia -where it generates over 60% of the national production - it is present in exploration and production activities in Brazil, Peru & US (Gulf of Mexico). Ecopetrol owns the largest refinery in Colombia and most of the pipeline and multi-product pipeline network in the country, and is significantly increasing its participation in bio-fuels.