Saturday, June 15, 2024

Logo Central America Link

Colombia's Ecopetrol slashes 2016 capex

Tuesday, December 15, 2015

Ecopetrol, Colombia’s state-run oil major, has become the latest energy company to substantially slash its capital expenditure for next year as the plunge in crude shows no signs of abating.

The company said it planned to invest $4.8 billion next year, a 40 per cent drop from this year’s expected capital spending.

Source: Financial Times