Revista Nueva Minería

An improvement in the cost structure meant to Empresa Nacional del Petroleo (ENAP) reverse the bad figures that dragged until last year, obtaining $ 134 million in profits to December 2013, compared with losses of $ 319 million obtained in 2012, which means a positive change in U.S. $ 453 million from one year to another.

The change in the given figures is explained mainly due to a substantial change in the gross margin, which increased from U.S. $ 5 million in 2012 to $ 573 million in 2013, with a negative growth of 8.4% in costs.

This is mainly due to operational improvements and management business lines in refining and marketing ($ 415 million) and exploration and production (U.S. $ 153 million). To this increased sales of natural gas, and a reduction in the cost of this, in addition to reductions in the cost of energy (steam) and raw material (hydrogen) is added.

Besides the Ebitda for the company in 2013 reached U.S. $ 678 million, the best in the last ten year.

Source: Estrategia