Ecopetrol plans to invest up to $4 billion in 2018

Colombian oil company Ecopetrol expects to invest $3.5 to $4 billion in 2018, up 35% to 55% over the projected investment at year-end 2017.

After two years of a transformation plan focused on cost reduction and capital discipline, the 2018 plan approved by the board of directors is aimed at increasing reserves and hydrocarbon production, capturing earnings through an improved international environment for the sector, and advancing along the path of efficiency, the company said on Wednesday.

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