• 5 minutes Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 8 minutes What Can Bring Oil Down to $20?
  • 14 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 1 hour Alberta govt to construct another WCS processing refinery
  • 15 hours Let's Just Block the Sun, Shall We?
  • 58 mins Venezuela continues to sink in misery
  • 17 hours U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 19 hours Quebecans Snub Noses at Alberta's Oil but Buy More Gasoline
  • 1 day OPEC Cuts Deep to Save Cartel
  • 12 hours Regular Gas dropped to $2.21 per gallon today
  • 2 days $867 billion farm bill passed
  • 3 days Sleeping Hydrocarbon Giant
  • 2 days Contradictory: Euro Zone Takes Step To Deeper Integration, Key Issues Unresolved
  • 2 days IEA Sees Global Oil Supply Tightening More Quickly In 2019
  • 1 day Global Economy-Bad Days Are coming
  • 2 days WTO So Set Up Panels To Rule On U.S. Tariff Disputes
Qatar To Invest Up To $20 Billion In U.S. LNG

Qatar To Invest Up To $20 Billion In U.S. LNG

Qatar Petroleum, the state owned…

Why The OPEC+ Deal Won’t Cut It

Why The OPEC+ Deal Won’t Cut It

OPEC and its partners managed…

Rebel Bombing Shuts Down Key Colombian Oil Pipeline

ELN Rebels

Colombia’s second-largest oil pipeline has been taken offline by a rebel attack which spilled crude oil into the Bojaba river, this is the fourteenth such attack this year.

While no group has claimed responsibility for the attack, the authorities suspect the ELN (National Liberation Army) rebel group.

Related: Oil Slips After EIA Reports 1.3M Barrel Build

The Cano-Limon Covenas pipeline, run by state-owned Ecopetrol, was bombed at a 485-kilometer section that runs near the border with Venezuela in Arauca province, Reuters reported. Pumping of crude into the pipeline has been halted, according to Ecopetrol.

The pipeline has a 210,000 barrel per day capacity, and transits crude produced by U.S.-based Occidental Petroleum to the port of Covenas in the Caribbean, which is the country’s main export facility. The Cano Limon oilfields, operated by Occidental, account for 30 percent of Colombia’s total oil output.

There are two major rebel groups operating in Colombia: FARC (the Revolutionary Armed Forces of Colombia), the largest, and ELN, the second-largest.

A similar attack on the same pipeline in April was also attributed to the ELN.

Related: Why Nevada Is The Next Lithium Hot Spot

Suspicion is also resting on the ELN due to the status of peace talks between the government and the two rebel groups. While peace talks are proceeding with FARC, boosted to some extent by FARC’s public renouncing of kidnapping in 2012, the ELN has refused to follow suit, making peace talks more challenging.

Rebel groups have been responsible for a significant drop in production in Colombia. In March, according to Bloomberg data, production dropped to 916,000 barrels per day, down 8 percent from December 2015, while daily crude exports slid 14 percent from the previous month.

By Charles Kennedy of Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News