Colombia’s Ecopetrol Reports Profit Growth Despite Falling Commodity Prices

Graphic for News Item: Colombia’s Ecopetrol Reports Profit Growth Despite Falling Commodity Prices

Ecopetrol recorded net profits of $ 6.2 billion in the first half of 2019, the highest since 2013 for the first half. Profits grew 1.6% while the price of Brent crude decreased 7% in that period. The results show the financial and operational strength of the company that faced a challenging environment in the second quarter due to the fall in international prices of both Brent crude and refined products.

Hot Tip

Once registered on oilandgaspeople.com as a candidate be sure to build a detailed profile. Other job sites save you time by scraping your CV into one database field but our structured database makes it much easier for recruiters to search and find you. Better for candidates.. Better for recruiters..

Total sales grew 8.3% from $ 31.6 billion in the first half of 2018 to $ 34.2 billion in the first half of 2019. The production of the Ecopetrol Group in the first half reached 726 Mboe per day. It grew 2% compared to the same period of the previous year, in line with the 2019 target. In the first half of 2019, three of the 10 exploratory wells drilled confirmed the presence of hydrocarbons. Two more are under evaluation.

Source: www.worldoil.com

Leave a Reply

Your email address will not be published. Required fields are marked *