Courtesy of The Financial Times, a detailed look at Ecopetrol: Never mind its recent fall in profits. Many energy companies would drool at Ecopetrol’s impressive growth rate so far. Since 2008, Colombia’s state-controlled oil company has increased production at a rate of 16 per cent a year. “We are focused on sustaining this growth rate, […]
Read more »Via The Financial Times, an article on Colombia’s Ecopetrol: Ecopetrol, the Colombian national oil company with proven reserves of about 1.8bn barrels, has a bigger market capitalisation than Petrobras, the Brazilian giant with 18bn barrels of reserves and, potentially, multiples of that in its vast new pre-salt oil fields. That, at least, is what a […]
Read more »Courtesy of Seeking Alpha, a report on Colombia’s Ecopetrol corporation. As the article notes: Since the start of 2012, we have seen significant pullbacks in the stock prices of many of Latin America’s oil majors. Brazil’s Petrobras (PBR) has fallen by 18%, Petrobras’ Argentine subsidiary Petrobras Argentina (PZE) also fell by 18%, and Argentina’s largest […]
Read more »Courtesy of The Financial Times, a report on recent initiatives between Colombia and Venezuela to team up in the oil sector: “Zero,” said Hugo Chávez firmly, when asked almost three years ago what the chances were of Colombia’s state oil company Ecopetrol having a hand in developing Venezuela’s oil-rich Orinoco Belt. That was back when […]
Read more »Via The Economist, a look at Colombia’s oil boom: IT HAS attracted much less attention than the big deep-sea oil finds in Brazil, but Colombia is also enjoying an oil boom. Its output of crude has nearly doubled in the past six years, from 525,000 b/d in 2005 to a daily average of 914,000 last […]
Read more »Via The Financial Times, an update on Ecopetrol, Colombia’s state oil company. As the article notes: “[Ecopetrol] is one of the best examples of a creaky behemoth invigorated by part-privatisation. It is making the most of Colombia’s improved security environment and resilient economy. Ecopetrol’s chief executive Javier Gutierrez has told beyondbrics that production should rise […]
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