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Ecopetrol News


ANALYSIS: Colombia’s oil industry, government facing declining output, investment

by Chris Kraul, Platts, July 2, 2014 Declining oil production caused by terror attacks, community protests and a drop in foreign investment has the Colombian government concerned it will miss its 2014 fiscal goals, according to analysts. Top industry and government officials have met over the last two weeks in the presidential palace to discuss…

Ecopetrol Courts Communities to Extend Colombia Oil Boom

by Andrew Willis, Bloomberg News, July 2, 2014 Colombia is looking to extend a decade-long oil expansion by improving Ecopetrol SA (ECOPETL)’s community relations and environmental permitting as shares of the state-run producer slump to a four-year low. Ecopetrol is creating regional operational centers run by a vice president with managerial and decision-making powers, Mines…

Lukoil, BP, Trafigura and ATMI to supply fuels to Ecopetrol in July

by Marianna Parraga, Reuters, July 1, 2014 HOUSTON, July 1 (Reuters) – Russia’s Lukoil, British BP and trading firms Trafigura and ATMI will supply Ecopetrol with gasoline, diesel and jet fuel in July, after winning tenders launched in June on the open market, according to Colombian import data and Reuters data. Since March, Colombia has…

Colombia’s Ecopetrol tenders to buy diluent naphtha cargo for June

by Marianna Parraga, Reuters, May 28 2014 HOUSTON May 28 (Reuters) – Colombia’s state-run Ecopetrol has launched a tender to buy a 108,000-110,000 barrel cargo of the diluent naphtha to be picked up June 14-15 in the Caribbean or on the U.S. Gulf Coast, according to a document seen by Reuters on Wednesday. The oil…

Colombian oil pipeline Cano Limon-Covenas restarts pumping: Ecopetrol

By Luis Jaime Acosta, Reuters, May 26, 2014 BOGOTA May 26 (Reuters) – Colombian oil pipeline Cano Limon-Covenas restarted pumping after two months of paralysis due to a series of rebel attacks and a protest by an indigenous community, a source from state oil company Ecopetrol said on Monday. The 780-km (485 mile) pipeline had…

Colombia’s Ecopetrol offers to buy ULSD and gasoline for May-June

By Marianna Parraga, Reuters, May 14, 2014 HOUSTON May 14 (Reuters) – Colombia’s state-run Ecopetrol launched a tender to buy a 68,000-70,000 barrel cargo of ultra low-sulfur diesel (ULSD) and a 91,000-95,000 barrel cargo combining ULSD and gasoline, according to a document seen by Reuters on Wednesday. The shutdown of a key pipeline in Colombia…

Colombia’s Ecopetrol To Sell Half Stake in Capachos Block to Parex

By Peter Murphy at Reuters, via Rigzone.com, May 13, 2014 BOGOTA, May 12 (Reuters) – Colombia’s state-run oil company Ecopetrol said on Monday it had reached a deal to sell a 50 percent stake in its Capachos oil block to Canadian-listed Parex Resources Inc, which would be the operator. Parex will pay the full cost…

Veolia gains Colombian produced-water clean-up contract

Ecopetrol America Inc, the US subsidiary of the Colombian national oil company, has awarded a contract to Veolia to provide equipment and services that will be used to treat the produced water from the Castilla oilfields in the Llanos Basin, southeast of Bogota. Via desalination.biz, 8th May 2014 Under the US$ 73 million contract, Veolia will…

Ecopetrol 1Q Profit Falls 3.6% On Lower Output

By Peter Murphy, at Reuters, Via RigZone.com, April 30th 2014 BOGOTA, April 30 (Reuters) – Colombia’s state-owned oil company Ecopetrol said on Wednesday net profit fell 3.6 percent as crude oil production declined. Consolidated net profit totaled 3.29 trillion pesos ($1.7 billion) in the first quarter versus 3.41 trillion pesos a year ago. Non-consolidated crude…

Colombia to repair oil pipeline after deal with indigenous group

By Peter Murphy, Reuters, May 2nd 2014 A Colombian oil pipeline owned by state-run Ecopetrol will be repaired after the government reached a deal with the U’wa indigenous community who blocked access to a damaged section for more than a month, the Energy Ministry said on Thursday. The 780-km (485-mile) Cano Limon-Covenas pipeline has been…

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