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

Ecopetrol Boosts Output Target to 819,000 BOE/D for 2014

Dec. 13 (Bloomberg) -- Ecopetrol SA, Colombia’s state-controlled oil company, said it will invest $10.6 billion next year to boost output to 819,000 barrels per day.

Ecopetrol will spend $1.56 billion on exploration and $5.04 billion on production during 2014, according to a regulatory filing today. The company aims to increase production 2.6 percent from this year’s target of 798,000 barrels of oil equivalent per day.

Ecopetrol said it has access to debt and equity markets both in Colombia and abroad and that its financing needs will depend in part on price trends and the execution of its budget including potential acquisitions.

The company’s shares have declined 24 percent this year, the worst performer on the country’s benchmark Colcap index after Avianca Holdings SA.

To contact the reporter on this story: Christine Jenkins in Bogota at cjenkins28@bloomberg.net

To contact the editor responsible for this story: Brendan Walsh at bwalsh8@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.