by Nick Flitterman

Portland has won a second major financial advisory mandate this year from US Ex-Im Bank.

It is advising in relation to the $4.6 billion expansion and upgrade project being undertaken by Refineria de Cartagena S.A. (Reficar), a subsidiary of Ecopetrol S.A., Colombia’s national oil company. The project will see the refinery’s capacity increase from 80,000 barrels per day to 165,000 bpd and its Nelson complexity rating improve from 5.1 to 10.5. Ex-Im is supporting goods and services from a number of US companies led by Chicago Bridge and Iron, Inc. which is acting as EPC contractor.

For further information, contact Portland’s Head of Energy at geoff.knox@portlandadvisers.com

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