Ecopetrol Profit Rises 57% on Oil Price, Production Gains
This article is for subscribers only.
Ecopetrol SA, Colombia’s largest oil company, said profit jumped 57 percent in the fourth quarter because of a rally in crude prices and higher production.
Net income rose to 2.70 trillion pesos ($1.41 billion) from 1.72 trillion pesos a year earlier, the state-controlled company said today in a statement. Revenue increased 30 percent to 11.6 trillion pesos. Output rose 13 percent to 649,100 barrels a day.