Ecopetrol (NYSE:EC) published its 2Q19 and 1H19 financial results and that allowed us to update our ECP Line-of-Business (LoB) charts, something we had not done since March (based on 2018 full-year results). The Transport LoB produces less EBITDA in volume than E&P but margins continue to rise.
The private sector is developing an ambitious project to build a new refinery in the country. The project received the resources needed through V.I.P Group International, a private investment fund in the US, and the construction phase could begin soon.
Parex Resources (TSX: PXT) has developed an ambitious investment campaign in the Colombian oil sector, showing positive results. The firm reported excellent financial results in recent years and has positioned itself as one of the most important companies in the country.