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.
Pacific Rubiales Energy Corp.’s new oil-recovery technology in Colombia is falling short of government expectations, according to the comptroller’s office, potentially jeopardizing the company’s ability to retain its biggest field. Shares fell the most in two months.
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.
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 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, 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.