MOSCOW, 26 Sep — PRIME. Colombian Ecopetrol has increased oil supplies to Europe, reports Reuters.
Ecopetrol is a Colombian oil and gas company engaged in exploration, production, transportation, refining and commercial aspects. Colombian authorities own 88.49% of Ecopetrol. The company conducts operations within the country and abroad.
“About 40-50% of Ecopetrol’s oil is exported to Asia compared to 60% last year,” CEO Felipe Bayon said at the APPEC conference.
The agency clarified that against the background of the reduction of Russian oil supplies, the export of “black gold” Ecopetrol to Europe increased accordingly.
At the same time, the CEO noted, competition in Asia is growing with supplies from Russia, Mexico, Canada and Venezuela.
The head of the Colombian company also added that its proven hydrocarbon reserves increased compared to last year.