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September 01, 2015 7:33 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Refinería de Cartagena S.A.

Company Overview

Refinería de Cartagena S.A. operates a refinery in Columbia. Its refinery produces propylene, gasoline and naphtha, diesel, turbo fuel, fuel oil, aromatic tar, sulfur, and liquefied petroleum gas. The company was incorporated in 2009 and is based in Bogotá, Colombia. As of May 27, 2009, Refinería de Cartagena S.A. operates as a subsidiary of Ecopetrol SA.

Cra. 14 No. 85-68

Of. 606

Bogotá,  

Colombia

Founded in 2009

Phone:

57 91 742 5000

Fax:

57 91 642 0534

Key Executives for Refinería de Cartagena S.A.

President
Refinery Manager
Compensation as of Fiscal Year 2015.

Refinería de Cartagena S.A. Key Developments

Reficar Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Reficar reported unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total sales of COP 1,764.7 billion against COP 2,576.3 billion a year ago. Operating loss was COP 81.3 billion against COP 112.9 billion a year ago. Profit before taxes was COP 59.0 billion against loss before taxes of COP 106.8 billion a year ago. Net profit was COP 58.4 billion against net loss of COP 108.5 billion a year ago. EBITDA was COP 107.8 billion against LBITDA of COP 28.55 billion a year ago. For the year, the company reported total sales of COP 7,150.9 billion against COP 7,630.4 billion a year ago. Operating loss was COP 319.0 billion against COP 347.5 billion a year ago. Loss before taxes was COP 237.1 billion against COP 145.3 billion a year ago. Net loss was COP 239.4 billion against COP 150.0 billion a year ago. LBITDA was COP 37.0 billion against EBITDA of COP 46.45 billion a year ago.

Reficar Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Reficar announced unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported total sales of COP 1,530.5 billion against COP 1,755.8 billion a year ago. Operating loss was COP 127.7 billion against COP 8.9 billion a year ago. Loss before taxes was COP 133.4 billion against COP 2.9 billion a year ago. Net loss was COP 133.9 billion against COP 4.0 billion a year ago. Total LBITDA was COP 96.4 billion against total EBITDA of COP 25.97 billion a year ago. For the nine months, the company reported total sales of COP 5,386.2 billion against COP 5,386.2 billion a year ago. Operating loss was COP 237.7 billion against COP 234.6 billion a year ago. Loss before taxes was COP 296.1 billion against COP 60.5 billion a year ago. Net loss was COP 297.8 billion against COP 63.5 billion a year ago. Total LBITDA was COP 144.80 billion against total EBITDA of COP 75.00 billion a year ago.

Construction Workers at Refineria de Cartagena SA Start an Indefinite Strike for Wage Increase

Construction workers involved in the expansion of the Refineria de Cartagena SA (Reficar) oil refinery started an indefinite strike on September 20, 2013, demanding a wage increase. Some 10,000 workers are involved in the strike action, which is being backed by the Union Sindical Obrera (USO) oil workers union. The work stoppage brings to a halt the USD 6.47 billion expansion of the Reficar refinery, which is owned by state-run oil company Ecopetrol and located near the northern city of Cartagena. USO is demanding a 43% increase in wages for construction workers. CB&I has said it offered workers wage increases of between 23% and 100%.

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