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SINGAPORE, Sept 26 (Reuters) – Colombia’s national energy company Ecopetrol is selling more of its oil output to Europe, replacing Russian supplies, as it sees growing competition for market share in Asia.
About 40-50% of Ecopetrol’s crude output is exported to Asia this year compared to 60% last year, Ecopetrol CEO Felipe Bayon told Reuters on the sidelines of APPEC 2022.
Bayon said there is increasing competition with Russian, Mexican, Canadian heavy and Venezuelan crude in Asia.
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Reporting by Muyu Xu; Written by Florence Tan; Editing by Jacqueline Wong
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