Colombian NOC Ecopetrol SA announced on Nov. 27 that its board of directors approved a plan to spend $3.5-4 billion next year, which would be a 33% increase over FY18 spending at the top end of the range. Over 80% of the new investment plan will focus on upstream, and 90% of those investments will be earmarked for domestic work. Exploration capex will grow to more than $460 million in 2019 from about $250......
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