Ecopetrol Taps Presidential Ally Joaquin Gutierrez as CEO

Colombia's state-controlled oil company Ecopetrol has tapped businessman Joaquin Gutierrez as its chief executive, placing one of the country's most consequential corporate roles in the hands of a close ally of President Abelardo De La Espriella who has no known background in the energy sector.

Ecopetrol declined to comment on the appointment.

Gutierrez, a former campaign manager for De La Espriella, steps into a company under pressure to lift output and rebuild reserves. He replaces Ricardo Roa, who resigned amid investigations into campaign finance irregularities in the 2022 election and a separate influence-peddling probe tied to a gas contract.

A business administrator with a specialization in health management, Gutierrez has been described in media accounts as a longtime confidant of the president. He has been linked to luxury real estate projects in Bogota and to healthcare investments in the Caribbean city of Barranquilla.

De La Espriella is scheduled to take part in an Ecopetrol event on Friday, where local media has reported he is likely to formally name Gutierrez to the post.

The president has pledged to strengthen Ecopetrol, boost its reserves and secure domestic oil and gas supply, including through fracking.

Ecopetrol is 88.49% state-owned and ranks as Colombia's biggest company. It accounts for most of the country's crude production and owns the Barrancabermeja and Cartagena refineries, while its subsidiary Cenit controls most of the national oil and fuel pipeline network.

The company's output averaged 715,000 barrels of oil equivalent per day in the first half of 2026.