Colombia's Ecopetrol profit tumbles 38.5 pct on lower oil prices
BOGOTA Aug 5 (Reuters) - Net profit at Colombia's state-controlled oil producer Ecopetrol tumbled 38.5 percent in the second quarter from the same period last year, largely due to the sharp drop in crude oil prices since the middle of last year.
The company posted a consolidated net profit of 1.69 trillion Colombian pesos ($583 million) in the quarter, compared with 2.76 trillion pesos in the same period a year earlier.
Earnings before interest, taxes, depreciation and amortization, EBITDA or cash flow, fell 30.9 percent to 4.5 trillion pesos in the second quarter versus 6.5 trillion pesos in the same period of 2014.
The company's consolidated oil and gas production, which includes subsidiaries, rose 5 percent from the second quarter last year to 768,000 barrels per day equivalent.
Ecopetrol is the largest producer in Colombia's million barrel-per-day oil sector followed by Toronto-listed Pacific Rubiales Energy Corp, the biggest private player.
Bogota-traded Ecopetrol shares closed down on Wednesday at 3.16 percent at 1,530 pesos per share. ($1 = 2,906 Colombian pesos) (Reporting by Helen Murphy and Luis Jaime Acosta; Editing by Lisa Shumaker)
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