Ecopetrol SA (EC) Tuesday said the U.S. Export-Import Bank issued a Preliminary Commitment letter for the financing of American goods and services to be used in exploration and development activities, as well as improvement and expansion of existing facilities, up to a value of $1 billion. Financial terms have not yet been established.
Additionally, the company said that a similar commitment by the U.S. Eximbank is also expected in connection with the expansion project of the Cartagena Refinery, owned by Reficar S.A., and a subsidiary of Ecopetrol S.A.
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