Portal Industrial Cartagena Colombia - Forum - Contacts

Members Login
Username 
 
Password 
    Remember Me  
Post Info TOPIC: Ecopetrol first quarter profit rose 37%


Guru

Status: Offline
Posts: 12637
Date:
Ecopetrol first quarter profit rose 37%
Permalink   
 


Ecopetrol SA (ECOPETL), Colombia’s largest oil company, said first-quarter profit rose 37 percent as an $80 billion investment plan this decade increased production and oil prices advanced.

Profit climbed to 4.27 trillion pesos ($2.42 billion) from 3.11 trillion pesos a year earlier, the Bogota-based company said today in an e-mailed statement. The result compared with the average forecast of 4.10 trillion pesos by three analysts surveyed by Bloomberg.

“Oil was well over $100 a barrel and there have been strong production increases,” said Valeria Marconi, an analyst at Correval SA brokerage in Bogota.

Ecopetrol is scouting for oil in Colombia, Brazil and the U.S. Gulf of Mexico as part of the investment effort to increase output to 1.3 million barrels of oil a day in 2020. Production rose to 743,400 barrels a day of equivalent oil and natural gas in the quarter from 686,300 barrels a year earlier, the company said in the report released after the close of regular trading.

Ecopetrol rose 2.2 percent to 5,700 pesos at the close in Bogota. The shares have climbed 36 percent this year, outpacing a 14 percent gain in Colombia’s benchmark COLCAP (COLCAP) stock index.

Rebel Attacks

Rebel attacks on pipelines increased in the first quarter in Colombia, slowing gains in Ecopetrol’s production, said Mauricio Restrepo, an analyst at brokerage Bolsa y Renta in Medellin, Colombia. Sabotage of energy towers, pipelines, roads and bridges rose last year for the first time since 2008, according to government statistics.

“Security has again become a challenge,” Restrepo said. “Oil companies are visible targets.”

Production was little changed from the fourth quarter, when output was 741,700 barrels a day. Chief Executive Officer Javier Gutierrez said in March that guerrilla attacks won’t derail plans to increase the company’s production this year to 800,000 barrels of oil and natural gas a day.

The government is making additional investments to guarantee security, Mines and Energy Minister Mauricio Cardenas told oil executives in March in Cartagena, Colombia. In February, oil output from all companies producing in Colombia fell 4.8 percent to 896,000 barrels a day after pipeline sabotage.

The nation is the largest oil supplier in South America after Venezuela and Brazil.

To contact the reporter on this story: Heather Walsh in Bogota at hlwalsh@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net



__________________


Guru

Status: Offline
Posts: 12637
Date:
Permalink   
 



__________________


Guru

Status: Offline
Posts: 12637
Date:
Permalink   
 

wilfried ellmer, manager, expat, latin america, colombia, business development, advisor, consultant, portal. german, english, spanish, business development key player network, colombia foreign investment, colombia subsidiary opening, real estate, marine services, tourism, chamber of commerce, business partnering, joint venture, oil, gas, mining, infrastructure, services, outsourcing, barges, ship repair, shipyard services, development, colombia resident manager, colombia european expat manager, country manager, portal industrial cartagena, internet, seo, search engine marketing, industry, logistics integration, management, projects, headhunting, project setup, executive search, your man in colombia, fulltime, parttime, freelance - available for projects now. info@tolimared.com

colombia, bogota, cartagena, santa marta, bolivar, latin america.

__________________
Anonymous

Date:
Permalink   
 

Gurgaon escorts is another up and coming satellite town, close New Delhi, framing the National Capital Region of India, alongside Delhi and Ghaziabad. The National Capital Territory of Delhi is likewise called the National Capital Region and alludes to New Delhi, Delhi Cantonment and Delhi rustic region, alongside 59 enumeration towns and 165 towns. Gurgaon actually implies the town of the Guru or the instructor. Concurring folklore expresses that the town was called Gurgaon escorts as the residents made exceptionally pleasant jaggery, from sugarcane. Escorts in Gurgaon has had a land blast and has seen marvel land cost increment. This was generally a farming area region providing sustenance corps and vegetable to the Delhi populace.
Call girls in gurgaon
Call girls gurgaon
gurgaon Call girls
Escorts in Gurgaon
Call girls in Gurgaon
Call girls gurgaon
gurgaon Call girls
Escorts in Gurgaon
Call girls in Haridwar
Call girls in Dehradun
Call girls in Gurgaon
Call girls Gurgaon
Call girls in gurgaon
Escorts in Gurgaon
models girls in dehradun
Call girls in Noida
Call girls in Inudaipur
Call girl in Mumbai
CP ESCORTS SERVICE
Call Girls in CP
Free ads Posting
Free Business Listing
Free local business listing
Free listing
Call girls in mumbai
Call girls in gurgaon
Call girls in indirapuram
Lawyer in Noida
Best Lawyer in Noida
Advocate Noida
Best Advocate Noida
Advocate in India
Best Advocate in India
Best Lawyer In India
Lawyer In India
Call girls in gurgaon
Call Girls in Agra
Call Girls in pune
Call Girls in noida
Call Girls in mumbai
Call Girls in jaipur
Call Girls in haridwar
Call Girls in delhi
Call Girls in dehradun
Call Girls in bengaluru



__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.



Create your own FREE Forum
Report Abuse
Powered by ActiveBoard