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Colombia's Ecopetrol to invest up to $1.3 B in cleaner, better fuels

(Reuters) - Colombia's majority state-owned oil company Ecopetrol will invest between $1.2 B and $1.3 B over the next seven years in cleaner and better fuels, the company's Chief Executive Ricardo Roa said on Wednesday.

"The goal is, in the next seven years from now to 2030, to make investments of close to $1.3 B or $1.2 B to have clean gasoline," Roa said at a debate before the fifth commission of the chamber of representatives.

The investment will help cut the sulfur content in gasoline produced by Ecopetrol. High levels of sulfur in gasoline and diesel fuel have been blamed for serious health problems, increased mortality, and property damage.

Ecopetrol has already invested close to $450 MM in recent years to bring the sulfur content in its gasoline down to 45 parts per million, Roa said.

The new investment is aimed at cutting the sulfur content in gasoline produced by Ecopetrol to fewer than 10 parts per million, he added.

Ecopetrol previously reported it will invest between around $6.1 B and $7.2 B this year to speed the transition toward renewable energies and help Colombian maintain energy self-sufficiency, among other investments.

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