01:48 PM EDT, 05/22/2024 (MT Newswires) -- Ecopetrol ( EC ) said Wednesday the Superintendency of Industry and Commerce opened an investigation and formulated charges to look into alleged infringements to the laws on protection of free economic competition.

The company said its Cenit Transporte y Logistica de Hidrocarburos and Oleoducto Central units were among those identified in the principal charge for alleged interference in processes for the contracting of helicopter service from 2011 to 2023 and in the subsidiary charge for their alleged behavior related to the contracting of the service.

Ecopetrol ( EC ) and its units will follow due process in responding to the charges, the company said.

Ecopetrol ( EC ) shares fell 3% in recent trading Wednesday.

Price: 11.91, Change: -0.39, Percent Change: -3.13