Colombia’s Ecopetrol seeks $2 billion from CB&I over refinery costs
3/30/2016 12:00:00 AM
BOGOTA, March 30 (Reuters) -- Colombia's state oil company Ecopetrol will seek $2 billion in damages from contractor Chicago Bridge & Iron Co. (CB&I) for additional costs during the renovation of Colombia's Reficar refinery, Ecopetrol said this week.Ecopetrol has said bad management at CB&I increased spending on the project by $4 billion, double the original $3.99 billion price tag. Ecopetrol said it filed the suit against CB&I before the International Chamber of Commerce.
CB&I was not immediately available for comment by telephone.
The Reficar refinery, part of Ecopetrol's operations near the northern coast of Colombia, reopened late last year after a multi-billion overhaul meant to more than double capacity to 165,000 bpd.
(Reporting by Helen Murphy, Editing by W Simon)
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