Ecopetrol reports sanction imposed by the Labor Ministry
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Ecopetrol reports sanction imposed by the Labor Ministry


By editor4 updated Nov 21, 2013

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that it has been notified of Resolution No. 000333 of 22 October 2013 whereby the Labor Ministry - Territorial Directorate of the Labor Department of Barrancabermeja - imposed a fine amounting to one hundred (100) current minimum legal monthly salaries, which are equivalent to fifty eight million nine hundred fifty thousand pesos) legal tender.
 

The events that gave rise to the fine are related to the presumed scheduling of work days for the operators of Planta Galan that are presumably out of the limits provided for in the Law.

Up to this date the respective appeal resources are underway, as it is considered that the aforementioned Resolution has not been duly executed.

 

Bogotá, 21 November 2013