Ecopetrol still backing Cartagena update

摘要

Houston-Colombian state oil company Ecopetrol is opposed to a proposal to put expansion of the country’s Cartagena refinery on ice as the global economic slowdown deepens and difficulty persists in obtaining credit, Energy Minister Hernan Martinez Torres said late February 10. “We are worried about it,” Martinez told reporters on the sidelines of the CERA 2009 energy conference, referring to the proposal by Glencore International. “Obviously we’re not in agreement with this. Glencore has a contractual commitment to carry out that expansion” of the 70,000 b/d refinery, which is projected at a cost of $2.7 billion.