Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Petrominerales Posts 15% Weekly Drop on Oil Prices: Bogota Mover

Don't Miss Out —
Follow us on:

April 19 (Bloomberg) -- Petrominerales Ltd., the Calgary-based oil company that operates in Colombia and Peru, had its biggest weekly fall since March as oil prices dropped.

Shares declined 15 percent this week to 9,130 pesos at the close of trading in Bogota. The stock dropped 1.8 percent today, the most on the benchmark Colcap index. Pacific Rubiales Energy Corp. dropped 6.9 percent this week and Canacol Energy Ltd. fell 7 percent.

“Oil prices had a strong plunge,” Omar Escorcia, an analyst at Asesores en Valores SA brokerage in Bogota, said in an e-mailed reply to questions.

Crude oil futures plunged 3.6 percent this week in New York. Oil is Colombia’s biggest export, accounting for about 40 percent of sales abroad.

To contact the reporter on this story: Oscar Medina in Bogota at omedinacruz@bloomberg.net

To contact the editor responsible for this story: Matthew Bristow at mbristow5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.