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The net profit of Ecopetrol grew by 180% in the first half of 2018
Posted On 16 Aug 2018
Ecuadornews:
The net profit of the Colombian state company Ecopetrol was 6.1 billion pesos (about 2,024.5 million dollars) in the first half of 2018, which represents a 180% increase compared to the same period in 2017, when It was 2.1 trillion pesos (about 696.96 million dollars).
With respect to the second quarter of 2018, the company reported in a statement that the net profit amounted to 3.5 billion pesos (about 1,161.6 million dollars), an increase of 170% compared to the 1.3 billion pesos (about 431.45 million pesos) for the same period of 2017.
According to Ecopetrol, the results were possible “thanks to the optimal operation of the different segments of the company, to financial discipline and to the best prices of crude oil”.
They also detailed that the Ebitda margin in the second quarter was 51%, which is the highest in the history of the Ecopetrol Group.
Ecopetrol’s production in the second quarter of 2018 reached 721,000 barrels of oil equivalent per day, which is 2.8% more than in the first quarter and is the highest of the last seven quarters, the report added. (I)
