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eFinanceMarkets

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eFinanceMarkets

Re: eFinanceMarkets post# 11

Friday, 05/12/2017 5:18:59 PM

Friday, May 12, 2017 5:18:59 PM

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Ecopetrol +6% after strong Q1

The company reported Q1 net income of COP886B, well more than double that of a year ago. EBITDA of COP5.81T topped estimates for COP4.76T.

At work, of course, were higher oil and gas prices even as oil output slipped 3.3% thanks to attacks on fields. There was also the Cano Limon pipeline, which was out of operation for 47 days during Q1. Sales of COP 13.4T were shy of estimates for COP13.7T.

EC +6%
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