Felipe Bayón

Ecopetrol S.A.

Chief Executive Officer

Felipe Bayón is Chief Executive Officer of Ecopetrol, the largest company in Colombia and one of the leading integrated oil and gas conglomerates in Latin America. With over 29 years of experience in the industry, Mr. Bayon has led a transformation process that allowed the company to successfully face the complex global environment originated by the drop in oil prices and Covid-19. Likewise, he has managed to position the company in the American continent focused on strategic basins in the U.S., Brazil and Mexico. Mr. Bayon is leading Ecopetrol’s TESG strategy (Technology, Environmental, Social and Governance) with several initiatives in key areas such as decarbonization, renewable energy, water management, sustainable territory development and digital transformation, while promoting diversity and inclusion initiatives recognized and awarded by international organizations. One of his main achievements is the unprecedented improvement in the quality of fuels produced in Colombia’s refineries. Before assuming his role as CEO in 2017, he served as Ecopetrol’s COO. Prior to that he held different executive positions at BP, most recently serving as Senior Vice President of BP America and Head of Global Deepwater Response. 

SESSIONS WITH Felipe Bayón

Tuesday, 2 March

  • 11:20am - 11:50am (CST) / 02/mar/2021 05:20 pm - 02/mar/2021 05:50 pm

    Plenary

    Future of Global Upstream

    Panel Markets/Economics/Strategy Upstream Oil & Gas
    Despite the impression one gets from reading the news, upstream is not dead. It is the cash cow for most oil and gas companies, and that cash is paying for portfolio rebalancing toward renewables. Still, the upstream business is changing radically. Upstream and the oil and gas business is continuing its evolutionary path, one where the overall industry is shrinking. Key signposts include historical lows in spending and exploration drilling, service companies fighting for survival, and rampant consolidation. Recent drivers include investor sentiment around rates of return and the carbon footprint, and increased competition for market share while demand decreases globally. But this evolutionary process started several decades ago with independents divesting downstream assets first, followed by massive portfolio reductions as companies sought to better weather commodity cycles. This panel will feature three views on what the future of upstream means for companies with different geographies and strategies. What are common and divergent themes? What will it take to be competitive in the future? How can companies plan for big, unforeseen market upheavals like COVID-19, the oil market price war, and the 2007–09 financial crisis?