Ecopetrol Misses Profit Estimate as Oil Fall Blunts Cost Cutting

Ecopetrol SA, Colombia’s state-controlled oil producer, reported profit that missed analysts’s estimates as slumping crude prices overshadowed efforts to lower costs.

Net income fell to 787 billion Colombian pesos ($269 million) in the second quarter from 1.51 trillion pesos in the same period last year, the Bogota-based producer said Tuesday in a statement distributed by PRNewswire.

Read more

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by

Up ↑

%d bloggers like this: