Colombia’s Ecopetrol sets up subsidiary in Mexico

Ecopetrol has been increasingly eyeing offshore exploration in the Caribbean and Gulf of Mexico, and Colombia’s state-controlled oil and gas company has now finalized the establishment of its Mexico City-based subsidiary.

Ecopetrol is the sole owner of the new offshoot, ECP Hidrocarburos México. Ecopetrol Global Energy, a subsidiary incorporated in Spain, holding 99 percent of the shares and the U.S.-incorporated Ecopetrol America holding the remaining 1 percent.

Source: Finance Colombia