The logo of Ecopetrol is pictured at its headquarters in Bogota, Colombia July 11, 2023.
Development of the facility is scheduled to begin between this year and next, with production expected to start by 2030. Once operational, the plant aims to produce approximately 6,000 barrels of SAF per day, according to Roa. He stated: “This investment reflects our commitment to advancing sustainable energy solutions.” The initiative positions Ecopetrol as a contributor to the global push for greener aviation fuels.
For this year, Ecopetrol has allocated a total investment budget ranging from $5.9 billion to $6.8 billion. The company plans to fund this primarily through its own cash reserves, which stood at $4.4 billion at the end of 2024. The SAF plant represents a significant portion of this broader financial strategy, highlighting Ecopetrol’s focus on expanding its energy portfolio while addressing environmental goals.
The Barrancabermeja project underscores Colombia’s efforts to participate in the growing demand for sustainable fuels. By targeting a 2030 production start, Ecopetrol aligns with industry trends toward reducing aviation’s carbon footprint. The facility’s output of 6,000 barrels per day will add a substantial volume of SAF to the market, supporting airlines and governments seeking cleaner energy options.
This investment builds on Ecopetrol’s existing operations while introducing a forward-looking component to its business. The use of internal funds demonstrates the company’s financial capacity to pursue large-scale projects. As development progresses between this year and next, the Barrancabermeja refinery will play a central role in Colombia’s energy transition, balancing traditional operations with sustainable innovation.
