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Colombia's Ecopetrol reports USD2b profit in Q4  Join our daily free Newsletter

MENAFN - 16/02/2013

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(MENAFN) Colombian state-run oil firm Ecopetrol S.A. reported an 18.4 percent fall in quarterly profits, Reuters reported.

The group said it made USD2.03 billion net profit during the fourth quarter 2012, down from a year earlier, but still better than USD1.8 billion achieved in the third quarter.

Ecopetrol also reported a 2.7 percent increase in oil output to 762,000 barrels of oil equivalent per day (boepd) in the quarter, compared to a year ago.

Production within Colombia rose by 4.1 percent to 713,300 boepd in the period, it added.

For the full-2012, the group reported a 4.4 percent decline in full year profits for 2012, over environmental licenses setback, rebel attacks and protests.

The oil company said it made USD8.25 billion net profit last year, down from a year earlier.

 






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