Ecopetrol and Glencore closed negociation on Reficar S.A.
Ecopetrol announced today that it has closed the acquisition of all shares held by Glencore in Reficar S.A., as per the terms agreed in the Memorandum of Understanding signed on February 28, 2009.
The purchase price of U.S. $ 549 million could be reduced in approximately US$ 4.8 million as a result of the due diligence process to be performed by Ecopetrol. The adjustment will follow the procedure agreed by the parties in the contract, however, as of today, Ecopetrol already controls Reficar.
Ecopetrol ratifies its willingness to continue developing the proposed expansion and modernization of the Cartagena refinery and, in order to maximize the benefits of the company, Ecopetrol is currently working on integrating synergies with its Barrancabermeja refinery.
Bogotá, Colombia May 27 of 2009
http://www.ecopetrol.com.co/english/contenido.aspx?conID=42651&catID=348
Approves Ecopetrol Oleo E Gas do Brasil LTDA’s Participation in Block BM-S-73 in Santos Basin.
BOGOTA, Colombia, Dec. 22, 2010 /PRNewswire/ — With the issuance of resolution 1078/2010 on December 16, 2010, by the National Oil (NOV), Gas and Biofuel Agency ANP, Ecopetrol S.A. (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP), through its affiliate Ecopetrol Oleo E Gas do Brasil LTDA, confirms its participation in the offshore concession for Block BM-S-73 in Brazil.