Business Group definition
Examples of Business Group in a sentence
The operation of the Ecopetrol Business Group is performed through three business segments: 1) Exploration and production, 2) Transport and logistics, and 3) Refining, petrochemical and biofuels.
The Ecopetrol Business Group has a policy approved by the Board of Directors that allows it to use derivative financial instruments in the organized market over the counter (OTC) to cover itself from the risk of price fluctuations of crude oil and refined products associated to physical transactions.
Consolidated deferred tax, is calculated as the sum of the deferred tax in the individual financial statements of the companies of the Ecopetrol Business Group adjusted by deferred taxes on business combinations, inter-company transactions or other adjustments at a consolidated level.
Its corporate purpose is to develop commercial or industrial activities arising from or related to the exploration, production, refining, transportation, storage, distribution, and selling of hydrocarbons, their by-products and associated products on its own or through its subsidiaries (hereafter “Ecopetrol”, the “Company” or Ecopetrol Business Group).
Business Group B occupancy includes, among others, the use of a building or structure, or a portion thereof, for office, professional or service-type transactions, including storage of records and accounts.