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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

Post by deanthebeanon Apr 22, 2010 10:13pm
372 Views
Post# 17022221

brasil

brasilNo matter how you slice it this is good news.  320K is not huge but it is also not peanuts, and this is for the second shipment alone, there is no mention of monetary amount for the first shipment.  I think a fair guess would be that it sold for a similar amount.  Also this foreshadows the eventual arrival of final permit to ship the huge stockpile which would be great news.  If the permit were only one or two months away this would be fantastic as the company would benefit greatly from regular cash flow.
   At this point I would still prefer the Condor deal to close however I would not feel so bad if it didn't close because of what seems to be a light at the end of the tunnel in Brasil.
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