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ISSUES....
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Long term

Colombian oil company Ecopetrol is succeding on its long term strategy it has closed a deal to acquire local polypropylene producer Propilco for US$690mn, Propilco currently produces 380,000t/y polypropylene, and Ecopetrol would take to 500,000t/y in 2010. Ecopetrol is the to become the main supplier of raw material from Ecopetrol refineries in Cartagena and Barrancabermeja, the idea is to change Ecopetrol long-term strategy into not only exporting crude, but adding value to its oil with expanded refining and petrochemical operations. Propilco is the largest resin producer in the Andean region, Central America and the Caribbean with annual sales of more than US$600mn

Petroleumworld News 04/11/08

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