Colombia’s State Oil Firm Sees Q2 Profit Drop by 17%

Colombia’s state-controlled oil company Ecopetrol reported a net income for the second quarter that was down by 17.4% compared to the same period of 2023, due to external factors in variable market conditions. Net income stood at $839 million (3.376 trillion Colombian pesos), down from $1 billion (4.087 trillion pesos) for the second quarter of 2023. Operating income fell by 9.2%, while the core earnings margin stood at 43%, thanks to “exceptional operational performance, demonstrated by increased production and transportation volumes…