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Ecopetrol ADR Representing 20 Ord Shs V.EC


Primary Symbol: EC

Ecopetrol S.A. is an oil company. The Company operates in Colombia, Peru, Brazil and the United States Gulf Coast. The Company's segments include Exploration and Production, Transportation and Logistics, and Refining, Petrochemicals and Biofuels. The Company's Exploration and Production segment includes exploration, development and production activities in Colombia and abroad. The Company's Transportation and Logistics segment includes the transportation of crude oil, motor fuels, fuel oil and other refined products, including diesel and biofuels. The Company's main crude oil pipeline systems' operating capacity is approximately 1.34 million barrels per day (BPD). The Company's main refineries are the Barrancabermeja refinery, which it directly owns and operates, and a refinery in the Free Trade Zone in Cartagena that is operated by Reficar S.A., a subsidiary of the Company. The Company also owns and operates two other minor refineries: Orito and Apiay.


NYSE:EC - Post by User

Comment by repairguyon Apr 06, 2009 8:12am
297 Views
Post# 15898826

RE: RE: RE: better prices for the manganese? EOM

RE: RE: RE: better prices for the manganese? EOM

In case anyone is interested I wrote to Dan Major. Here is his reply



Ecometals owns 100% of the manganese stored at the Port Santana. 
 
In December legal ownership was resolved in in Brazilian High Court, and we had a buyer at that time at a price higher that the $3/mtu. However, do to negative influences in Macapa it took us 2 months to get an environmental license to export the material, since the Global and Chinese steel market has deteriorated, and the demand for low grade material is worse than for high grade, and unfortunately we have low grade material.
 
We have therefore struggled to place the material, but I believe we have now achieved it, but the price is going to be less that $2/mtu, and we can only sell 45,000t as a time as that is the boat constraint (Handymax)  at the port.  
 
By the way your revenue calc is incorrect - manganese is price on a metric tonne unit (mtu) and it should be;
 
57,935 x 37.54 x 2 = $2,174,882
 
Regards
 
Daniel Major


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