PD-06-109 Oil and Gas Supply Chain Global Competitiveness: A Country in the Balance

Description:

Ecopetrol undertook a major initiative to enhance its competitiveness in international markets which involved a major rework of its business and financial systems to adopt industry best practices. One of the key strategies was to put in place a volumetric system to be the single source of validated volumetric information across the entire supply chain. The steps taken by Ecopetrol greatly improved its knowledge of the state of the business, enabling tighter control of costs, more effective optimization of inventories and an enhanced ability to deal with external entities. The result is more effective control and greater competitiveness in national and international markets.