En Español

Very usefull links


News links




Dow Jones

Oil price



Views and News





Ministers on probed for overspending on Colombia's Reficar refinery



Petroleumworld.com 03 14 2017

Dozens of Colombian officials, including Finance Minister Mauricio Cardenas, are being investigated for overspending of about $6 billion during the renovation of state oil company Ecopetrol's refinery Reficar, the comptroller general's office said on Monday.

Cardenas and other Ecopetrol and Reficar board members may have to pay back money if found responsible for the "damage to patrimony" the overspending caused, Comptroller General Edgardo Maya told reporters in Bogota.

Among the 47 named officials, are former finance minister and current head of Ecopetrol Juan Carlos Echeverry, Defense Minister Luis Carlos Villegas and central bank board member Ana Fernanda Maiguashca.

The officials will be called to explain why they approved certain expenses that doubled the $3.46 billion initial estimate for renovation, Maya said.

The government has said bad management by contractors was responsible for costs on the refinery in northern Cartagena.

Improvements to the refinery, which reopened in late 2015, were aimed at doubling capacity to 165,000 barrels per day.

Reporting by Carlos Vargas and Helen Murphy; Editing by Bernard Orr from Reuters.

We invite all our readers to share with us
their views and comments about this article

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels









Contact: editor@petroleumworld.com,

Editor & Publisher:P.Ohep F. /Producer - Publisher:P.Ohep F./
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2016, Petroleumworld   / Elio Ohep Fitzgerald- All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.