Colombia’s Ecopetrol risas net income to $328 million

Colombia’s state-controlled oil producer Ecopetrol on Tuesday reported net income rose more than fourfold to $328 million for the third quarter due to cost reductions and as global prices for crude oil improved.

Consolidated oil and gas production during the three-months period was 715,000 barrels per day, Ecopetrol said, a 1.1 percent decline from the year before.

Source: Reuters