Saturday, February 24, 2024

Logo Central America Link

Colombia's Ecopetrol creates new pipeline unit

Monday, June 18, 2012

 Colombian state-controlled oil firm Ecopetrol's board of directors has approved the creation of a pipeline infrastructure unit, the company said.

"The purpose of the new company is to serve the increased transportation and logistical needs of the country's oil industry", the release said.

The incorporation of the wholly-owned subsidiary will "expand and strengthen" the country's network of oil and multi-purpose pipelines and "significantly reduce the damage to roads from truck transportation of hydrocarbons."

Source: Bloomberg