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Ecopetrol Eclipses Petrobras in Market Value

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January 30, 2013

Colombia Reports

Colombia's state-controlled oil and gas giant Ecopetrol this week eclipsed Brazil’s Petrobras on the New York Stock Exchange. Ecopetrol’s market capitalization increased to $129.95 billion on the NYSE, overtaking Petrobras, currently valued at $121.87 billion. The 25% increase in value of Ecopetrol pushed the company past Petrobras after the state-governed Brazilian energy company lost nearly 40% of its value over the same period, according to NASDAQ's official website.