12.5.15

NEWS  |  CEO: Colombia's Ecopetrol Oil Output Rises Due to Fewer Bomb Attacks  |  Rigzone

NEWS  |  CEO: Colombia's Ecopetrol Oil Output Rises Due to Fewer Bomb Attacks  |  Rigzone: "Oil output at Colombia's state-run oil producer Ecopetrol SA has been higher than expected so far this year due to fewer bomb attacks on its pipelines, Chief Executive Officer Juan Carlos Echeverry said on Monday.

The average non-consolidated output of 722,000 barrels per day to date is above the company's target for 710,000 barrels in 2015.

The output is also above the average 713,000 barrels per day in the fourth quarter of last year, when the company posted an 844 billion peso ($353.88 million) loss. Ecopetrol reports first-quarter 2015 results on Tuesday after markets close.

Average non-consolidated output, which does not include Ecopetrol's stake in other oil companies or subsidiaries, was 705,000 barrels per day for all of 2014.

Echeverry said the company was benefiting directly from peace negotiations between the government and leftist FARC rebels, which he said had cut bomb attacks on its oil pipelines to four so far this year from 45 by this time in 2014."



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