India’s Essar Oil and Ecopetrol, the Colombian gas major and the fourth-largest oil and gas company in Latin America, are set to cement ties. Ecopetrol’s three-member delegation, along with the ambassador of Colombia to India and other senior officials held extensive meetings with Essar Oil on September 18 in Mumbai.
According to media reprots, the talks were held over increasing crude oil exports by Ecopetrol for meeting Essar’s Jamnagar refinery needs. Ecopetrol, which already exports around 24 million barrels of crude to Essar Oil worth nearly $2 billion, is looking to increase exports significantly. The company has been associated with Essar for over a year and a half.
Confirming the development, Juan Alfredo Pinto, the ambassador of Colombia to India said that the purpose of the visit is to show the delegation from Colombia, the refineries at Jamnagar and Jetty, and take talks to the next level.
For Colombia Essar Oil is a great partner and the company needs to increase not only the oil exports to its refinery, but also it wants to define its presence in Colombian projects in infrastructure, ICT and engineering sector.
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