07 May 2013 20:44 [Source: ICIS news]
Throughput at the
Throughput at Ecopetrol’s second refinery, Cartagena Reficar, was also up by 2.7% year on year from 74,000 bbl/day to 76,000 bbl/day.
The company said that the increase was partly due to planned maintenance affecting throughput at both refineries in the first quarter of 2012.
The refining margin at
Meanwhile, the modernization project of the
The project is expected to be completed during the first half of 2014.
“The weekly pace [of modernization] at the
The upgrading of
Despite higher production and sales volumes, Ecopetrol’s first-quarter consolidated net income fell by 20.2% to Colombian pesos (Ps) 3,412bn ($1.87m, €1.42m), the company said.
Total sales for the first three months of the year stood at Ps16,746bn, down by 7.1% year on year amid lower crude prices, including a 12% drop in crude export prices.
Oil production reached record levels during the quarter to 791,000 bbls/day of oil equivalent, up by 6.4% year on year, while biodiesel production in the quarter fell by 9% year on year to 27,151 tonnes, due to an extended plant turnaround in January.
($1 = €0.76, $1 = Ps1,827)
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