Colombia’s Ecopetrol Cuts 2015 Output Goal 7.2% From This Year
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Ecopetrol SA has cut next year’s output target as Colombia’s state-controlled crude producer struggles to make major discoveries amid a slump in prices, and suffers from pipeline attacks and community blockades.
The company aims to produce a daily average of 760,000 barrels of oil equivalent next year, down 7 percent from this year’s target, the company said today in a regulatory filing. In 2013, the producer predicted that output would reach an average of 1 million barrels per day in 2015.