<article><p class="lead">Colombia's state-controlled Ecopetrol is restoring some refinery throughput in response to a modest uptick in fuel demand.</p><p>The company has added about 25,000 b/d to crude runs in recent days, chief executive Felipe Bayon told analysts on a <a href="https://www2.argusmedia.com/en/news/2104300-colombias-ecopetrol-exploring-offshore-storage-options?backToResults=true">first quarter earnings</a> call this morning.</p><p>After the supply glut and demand collapse swept through the oil market in March, Ecopetrol slashed crude runs at its two Colombian refineries to 225,000-230,000 b/d from a previous 370,000-380,000 b/d. </p><p>At the 250,000 b/d Barrancabermeja refinery in Santander state, runs are now back up to 140,000-141,000 b/d, compared with a previous 115,000 b/d, Bayon said.</p><p>At Ecopetrol's newer 165,000 b/d Cartagena refinery on the Caribbean coast, normal runs were cut from 150,000 b/d to around 110,000 b/d, where they remain for now.</p><p>"We have been able to very quickly adapt and adjust the runs to cope with the reduction in demand. But also very quickly ramp up again," Bayon said.</p><p>Colombia has begun to reopen construction, manufacturing and some services after imposing a nationwide lockdown in March to manage the onslaught of the Covid-19 pandemic.</p><p>"We are seeing demand increase very marginally and slowly," Bayon said. "We will continue to synchronize with increases in activities … as the Colombian economy opens again."</p><p>Ecopetrol processed an average 345,000 b/d of crude at the two refineries in the first quarter, including 146,000 b/d at Cartagena and 199,000 b/d at Barrancabermeja. </p><p>The consolidated throughput was off slightly from 351,000 b/d in first quarter 2019, including 155,000 b/d at Cartagena and 196,000 b/d at Barrancabermeja.</p><p class="bylines">By Patricia Garip</p></article>
