The state-controlled giant, which is in the midst of a large-scale cost-cutting drive, is eyeing total savings for 2016 of 1.3 trillion Colombian pesos ($444 million).
For the three months to the end of June it managed savings of 392 billion pesos, with a total of 813 billion pesos in the first half.
The business plan for the period from 2017 to 2020 is currently being worked on, but the company hopes to update its medium-term plan no later than October.
Ecopetrol
