Ecopetrol sets $11 billion budget for 2011

摘要

Bogota-Ecopetrol, Colombia's state-con- trolled oil company, said its board of directors has approved a plan to invest up to $10.618 billion in its main business, subsidiaries and outside investments in 2011, a 25% increase over the $8.476 billion in 2010. The company also said total production, including its Hocol subsidiary in Colombia and foreign investments, will average 750,000 b/d of oil equivalent in 2011, up 22% from the 615,000 boe/d it expects to average this year.