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Ecopetrol Secures New Four-Year Deal With Unions

COLOMBIA
  • Ecopetrol Reaches 4-Year Wage Deal With USO Oil Workers Union (Bloomberg)
  • Ecopetrol says four-year agreement with USO, includes salary increase of CPI +150bps for 2023, and CPI +160bps thereafter, according to a statement.
    • The new collective bargaining agreement will be retroactively effective from January 1, 2023, and remain valid until December 31, 2026.
  • State-run oil company said it also reached agreements with other union organisations such as Asintrahc, Asopetrogas, Asteco, Sintramen, SUP and Utipec.
  • Agreement also includes funding for social projects.

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