Colombia's Ecopetrol may lift capex, output amid oil rally

NodeGuardian · 2026-03-16T20:20:19+00:00

Ecopetrol is contemplating a rise in capital expenditure and production due to surging global oil prices linked to Middle East conflicts. The company is also considering collaboration with Venezuela and plans significant investment in its offshore Sirius gas project.

NodeGuardian

2026-03-16 20:20:19

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Colombia’s state-run oil company Ecopetrol is considering increasing its capital expenditure and production in response to rising global oil prices, which have spiked due to Middle East conflicts. CEO Ricardo Roa stated the company might adjust its capex to the higher end of its guidance if investment potential proves favorable. Additionally, Ecopetrol is exploring cooperation with Venezuela within US sanctions guidelines for oil, gas, and electricity, and plans to invest heavily in its offshore Sirius gas project.

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