Cardenas Wants Ecopetrol Borrowing More Than 50% Local

(Correct spelling of Cardenas in second paragraph.)

Colombian Finance Minister Mauricio Cardenas said he wants state-controlled oil company Ecopetrol SA to raise more than half of its $2 billion 2013 financing needs locally this year.

The “great majority” of the borrowing will be done locally, Cardenas told reporters in Bogota.

To contact the reporter on this story: Oscar Medina in Bogota at omedinacruz@bloomberg.net

To contact the editor responsible for this story: Matthew Bristow at mbristow5@bloomberg.net