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Colombia's Ecopetrol profits drop 6.8 percent

Thursday, August 1, 2013

Colombian state oil company Ecopetrol's net profit fell 6.8 percent to $1.8 billion in the second quarter from a year ago.

The drop came after the price of oil slipped, transport costs rose and it was forced to spend on repairs after rebel attacks.

Oil and gas production by the group, which includes operations outside Colombia, was 778,100 barrels of oil equivalent per day in the quarter, up 2.1 percent from the same period last year.

Source: CNBC