Colombia's Ecopetrol expects 2014 financing needs to be $1 billion

By Angela McDaniels

Tacoma, Wash., Dec. 20 - Ecopetrol SA expects its financing requirements for 2014 to be around $1 billion and said it could be obtained through debt.

The $1 billion figure assumes the prices of Ecopetrol's crude basket in 2014 remain at levels close to $100 per barrel, according to a company news release.

In total, the company expects to need $8.37 billion for capital expenditures in 2014. In addition to the $1 billion of 2014 financing, the company expects to use internal cash generation, financing obtained in 2013 and the sale of non-strategic assets to fund its 2014 capex needs.

Ecopetrol is an oil and gas company based in Bogota, Colombia.

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