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Economy & Business - August 2006
What is happening at Ecopetrol
The government announced that it would capitalise the state oil company, Ecopetrol, at the end of July. The government wants to sell 20% of the company to local pension funds and individuals. The government is trying to bill the deal as a way of democratising the ownership of the company: in fact it is a cheap source of funds for the company and, probably, the prelude to a full privatisation.
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