UPDATE 1-Colombia Ecopetrol 2013 net profit falls 11.3 pct to 13.1 trillion pesos

martes 25 de febrero de 2014 21:10 GYT

(Adds detail on production)

BOGOTA Feb 25 (Reuters) - Colombia's Ecopetrol said on Tuesday its consolidated net profit fell 11.3 percent in 2013 to 13.1 trillion pesos ($6.4 billion), as a government tax reform boost the state oil company's payments.

For the standalone fourth quarter, the company had a net profit of 2.4 trillion pesos, down 33 percent versus the same period a year earlier.

Oil and gas production by the group, which includes operations outside Colombia, was 788,000 barrels of oil equivalent per day (boepd) during the year, up 4.5 percent from 2012, Ecopetrol said in its earnings report.

Consolidated earnings before interest, tax, depreciation and amortization, or EBITDA, decreased 1.7 percent in the full year to 28 trillion pesos, good for a margin of 40 percent versus 41 percent a year before, it said.

Colombia overhauled its tax code last year, boosting the tax burden for companies and higher-earning individuals.

Like other companies operating in Colombia, Latin America's No. 4 oil producer has also been hit by delays in getting key permits and a rise in rebel attacks against oil facilities.

The government is currently negotiating a peace accord with the Revolutionary Armed Forces of Colombia, or FARC, which has frequently hit at Ecopetrol's infrastructure.

A decade-long offensive by U.S.-backed troops against the FARC has pushed it deeper into inhospitable jungles and mountains, but the rebels still attack military and civilian targets, especially in the oil and mining sectors. (Reporting by Helen Murphy. Editing by Andre Grenon)