Barrancabermeja generates US$43mn extra from diesel

Friday, May 22, 2015

Colombian state oil firm Ecopetrol's Barrancabermeja refinery (in picture) generated addition revenue of US$43mn in the first four months from increased diesel production.

The plant upped diesel output to 5,000b/d during the perioid, exceeding projected production, the company said in a release.

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Similar output is predicted for Q2.

Barrancabermeja currently produces 50,000-55,000b/d of diesel, accounting for 48% of the domestic market. Ecopetrol imports approximately 60,000b/d to cover total demand of 105,000-113,000b/d.

Ecopetrol will produce 100% of diesel for domestic consumption once the company's Reficar plant in Cartagena starts operations in October or November, reducing the need for fuel imports.

Barrancabermeja's refining margin was US$18.2 per barrel in the first quarter, up 11.7% from US$16.3 a year before.