Le Lézard
Classified in: Oil industry, Business
Subject: CON

Ecopetrol signs contract to deliver propylene to its Comai subsidiary



BOGOTÁ, Colombia, Oct. 6, 2017 /CNW/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that has signed a contract to supply Refinery-Grade Propylene (RGP) to its subsidiary COMPOUNDING AND MASTERBATCHING INDUSTRY LTDA (Comai Ltda) from October 2017 to August 2022.

Ecopetrol Logo. (PRNewsFoto/Ecopetrol S.A.)

The estimated value of this contract is USD 160 million, for the approximate supply of 315,000 tons during its lifetime.

Entering into this long-term agreement is a significant boost to the development of the country's petrochemical industry, while at the same time generating value for the Ecopetrol Group.

This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.

For further information contact:
Capital Markets Manager (A)
Lina María Contreras Mora
Telephone: +571-234-5190
Email: investors@ecopetrol.com.co

Media Relations (Colombia)
Jorge Mauricio Tellez
Telephone: + 571-234-4329
Email: mauricio.tellez@ecopetrol.com.co

SOURCE Ecopetrol S.A.


These press releases may also interest you

at 20:00
Pomerantz LLP announces that a class action lawsuit has been filed against Genocea Biosciences, Inc. ("Genocea" or the "Company") and certain of its officers.   The class action, filed in United States District Court, for the District of...

at 16:33
CalAtlantic Homes, one of the nation's largest homebuilders, today announced the debut of nine new home designs at Windsor Ridge in Joliet, IL. The public is invited to tour the stunning new model home and experience the thoughtful design details and...

at 13:07
CalAtlantic Homes, one of the nation's largest homebuilders, today announced the Grand Opening of Bluewood, the first master-planned community in the Celina Independent School District offering both high-end neighborhood amenities and an on-site...

at 12:48
Fred Jordan Missions is bringing Christmas to thousands of impoverished inner city children who will receive toys at Los Angeles' largest Christmas Toy Party Saturday, December 16 from 10:00am to 3:00pm.  Some of the toys that will be distributed...

at 12:46
CalAtlantic Homes, one of the nation's largest homebuilders, has announced the debut of Pescara, an enclave of 46 homes located within a gated community, just minutes from one of metro Phoenix's most vibrant employment corridors. Home shoppers can...

at 11:32
Today the Coalition for Competitive Insurance Rates (CCIR), the leading voice for continued and increased competition within the insurance industry, expressed disappointment in the House-Senate Conference Agreement for H.R. 1, the "Tax Cuts and Jobs...




News published on 6 october 2017 at 22:51 and distributed by: