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Colombia's Ecopetrol reports $1.26 billion loss

Monday, March 7, 2016

Colombia's state-controlled oil producer Ecopetrol reported a loss of $1.26 billion during 2015, due to the global plunge in oil prices, rebel attacks and new accounting standards.

Net losses totaled 3.98 trillion Colombian pesos ($1.26 billion) last year, the company said in a filing to the financial regulator, a fall of 170 percent from the 5.72 trillion peso profit recorded in 2014.

Source: Reuters