Bloomberg News

Colombia Stocks: Petrominerales, Pacific Rubiales, Ecopetrol

July 13, 2012

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses, and prices are as of the close of trading.

The IGBC Index (IGBC) rose 1.2 percent to 13,664.64 while the Colcap Index increased 0.8 percent to 1,657.84.

Petrominerales Ltd. (PMGC) , a Calgary-based oil company that operates in the Andean region, fell 1.6 percent to 17,900 pesos, a record low closing level. Former Colombian President Alvaro Uribe posted to his 1.3 million Twitter followers that Petrominerales would halt some explorations for security reasons.

Petrominerales Ltd. said road blockades have halted oil production at two wells in Colombia since April. The company also temporarily suspended exploration in part of eastern Colombia after separate protests in April there, according to a statement distributed today by e-mail.

Other oil producers gained as crude rose for a third day in New York.

Pacific Rubiales Energy Corp. (PRE) , which operates the country’s largest oil field, jumped 3.1 percent to 40,740 pesos. Ecopetrol SA (ECOPETL) , Colombia’s largest oil company, rose 0.8 percent to 4,970 pesos.

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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