Latinnews Daily - 22 September 2017

Colombia: The mining & energy ministry has reported that national oil production rose to 858,511 barrels per day (bpd) in August, up by 0.25% compared with July. Natural gas production also increased to 917.2m cubic feet, up by 4.68% compared with July. The majority of oil and gas in Colombia is produced by the state-owned oil firm Ecopetrol. Pointedly, in the wake of the latest hydrocarbon production figures, Moody’s Investor Service, the international credit ratings agency, has decided to revise up its outlook on its Ecopetrol rating of ‘Baa3’ from ‘negative’ to ‘stable’. A Moody’s statement noted that the revision in part answered to the new exploration programme that Ecopetrol has launched with strategic partners and to Ecopetrol’s solid financial results.   

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