August 14, 2018 / 9:48 PM / 2 months ago

Colombia's Ecopetrol 2nd qtr net profit rises 170 pct to $1.17 bln

BOGOTA, Aug 14 (Reuters) - Ecopetrol, Colombia’s state-run oil company, said on Tuesday its second quarter net profit rose to 3.52 trillion pesos ($1.17 billion), up 169.7 percent from the same period in 2017.

The company plans to invest between $3.5 billion and $4 billion this year to boost production and explore for more oil to replenish dwindling reserves, drilling 620 wells and doubling the number of rigs in operation from last year.

$1 = 2,983.93 Colombian pesos Reporting by Julia Symmes Cobb Editing by Chris Reese

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