Ecopet cuts but Lat Am state oil looks cheap

By Oliver West
19 Mar 2020

Colombia’s Ecopetrol became the first of Latin America’s big national oil companies to launch an action plan to combat the continued fall in oil prices as it looks to preserve cash.

Latin America’s oil-orientated economies have made the region doubly vulnerable to the recent market crash, and state-owned Ecopetrol reacted quickly. It announced a $1.2bn decrease in its 2020 investment plan on Tuesday, reducing the range to $3.3bn-$4.3bn.

It also proposed a Ps3tr ($750m) cost cutting exercise and said ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.