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Why Oil Is Still Underpriced

Why Oil Is Still Underpriced

Oil prices are pulled in…

Colombian Oil Workers Disrupt Production, Army Sent In

Striking Colombian oil workers last week disrupted production at Canadian Pacific Rubiales Energy Oil Company’s Campo Rubiales facility.

The company estimates that production losses have amounted to 177,000 barrels of oil daily.

Canadian Pacific Rubiales Energy Oil Company issued a statement noting, "during the past few years, Pacific Rubiales Energy has invested more than $3 billion in Colombia. It has operations in six departments, employing directly about 1,500 people, and generating more than 12,000 indirect jobs" and blamed the unrest on outside agitators, Bogota’s El Espectador reported.

The company maintains that the workers had their rights violated when they were forced to cease their activities against their will, "And they also received threats of retaliation in case of not supporting the cessation of activities."

The company’s press release said that Colombian government public security officials sent reinforcements to the field under the command of General Jairo Salguero Casas, Commander of the 7th Brigade and that subsequently, "several security personnel and civilians who were not involved in acts of vandalism sustained injuries and were treated by the medical staff of Pacific Rubiales Energy assigned for field operations," adding that subsequently "security forces under the command of General Alejandro Navas, commander of the Colombian Army and of General Jose Roberto Leon Riano, Director of Operations of the National Police, took control of the Rubiales field facilities."

By. Joao Peixe, Deputy Editor OilPrice.com



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