Ecopetrol SA will probably tap local debt markets for the first time in more than a decade to help fund record investments amid rising oil demand in China, Chief Executive Officer Javier Gutierrez said.
Ecopetrol SA, Colombia’s largest oil company, expects to meet production targets this year as the government tightens security after an increase in guerrilla sabotage, Chief Executive Officer Javier Gutierrez said.
Co. is losing fewer than 6,000 barrels a day to infrastructure attacks by guerrillas, down from 10,000 barrels earlier this year, CEO Javier Gutierrez said today * “The attacks have fallen significantly and gradually the impact on production has been decreasing,” Gutierrez said today in Bogota, according to an audio recording sent by the company.
Ecopetrol SA , the Colombian oil producer which expects to more than double output this decade, said it plans to ship a greater share of its crude to Asia as growing demand in China competes for supplies with the U.S.
Ecopetrol SA, Colombia’s largest oil company, said the nation is close to production of 1 million barrels a day as rebel sabotage has a “low impact” on the company’s output, according to its chief executive officer.
Ecopetrol SA, Colombia’s largest oil company, said it fell short of its target to raise 2.5 trillion pesos ($1.34 billion) from the nation’s second-largest share sale amid a global slump in equities that trimmed demand.
Ecopetrol SA, the world’s eighth- largest publicly-traded oil company this year, announced a 2013 production target of 798,000 barrels of oil equivalent per day, lower than its original target for 2012.