Ecopetrol to issue $2 billion in bonds

Ecopetrol won authorization from Colombia’s Finance Ministry to sell as much as $2 billion in overseas bonds by 2016.

The state-controlled oil producer seeks funding for exploration and production.

Colombia’s biggest company is struggling to meet output targets amid a surge in pipeline attacks by Marxist guerrillas, and plans to invest $75 billion through 2020 to boost output by 63 percent.



Source: Businessweek