Colombia Ecopetrol to invest $6.2bn in 2009

18 December 2008 16:56  [Source: ICIS news]

HOUSTON (ICIS news)--Colombia’s oil and petrochemical company Ecopetrol plans to invest $6.2bn (€4.3bn) in 2009, with 60.5% of that amount going into exploration and production projects, the company said on Thursday.

Ecopetrol said its total investments in 2009 are up by 35% from 2008 and three times the amount it invested in 2007.

Refining and petrochemical investments next year are estimated at $814m, the company said.

Ecopetrol said the funds would be used in refinery upgrade and fuel-quality improvement.

($1 = €0.70)

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By: William Lemos
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