Colombian state oil company Ecopetrol announced potential investments of roughly $8.5 billion in 2011, with 5 percent of that total to be allocated for projects in the United States, Brazil and Peru.Ecopetrol CEO Javier Gutierrez said in a statement that the board of directors has already approved a $6.7 billion investment plan and has assigned the company a $1.8 billion contingent budget for projects currently in the development phase.
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Source: Latin American Herald Tribune
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