Colombia's No. 2 Oil Pipeline Shut After Rebel Bombings
Colombia's Cano Limon-Covenas oil pipeline, the country's second biggest by volume, has been shut due to damage from bomb attacks by leftist FARC rebels that caused a significant spill that has contaminated a nearby river, the army said on Wednesday.
Pacific Rubiales Shares Soar after Alfa-Harbour Takeover Bid
Shares in oil company Pacific Rubiales listed in Toronto and Bogota rose close to 28 and 26 percent respectively on Wednesday after the company confirmed Mexico's Alfa and Harbour Energy Ltd were planning to acquire it, paying C$6.50 per share ($5.42). (Reporting by Peter Murphy)
Bomb Attack Shuts Down Colombia's Cano Limon Oil Pipeline
A bomb attack has shut down the key Cano Limon oil pipeline in Colombia operated by state-run Ecopetrol, the company said on Monday, the fourth such attack on the line this year. Ecopetrol has activated a contingency plan to contain the resulting oil spill…
Nearly Half Colombia Oil Companies at Risk of Insolvency
Forty-three percent of companies in Colombia's oil sector are at high risk of going bankrupt as the industry reels from the recent halving of oil prices, according to a survey presented to the Andean country's congress this week. The survey…
Cano Limon Oil Pipeline Halted by Bomb Attack
Colombia's Cano Limon oil pipeline has been shut down following a bomb attack on Sunday evening, state-run oil company Ecopetrol said, adding that it did not expect exports to be disrupted. Attacks on the Andean country's oil pipeline network…
Colombia Oilfield Move Seen Challenging Ecopetrol
Ecopetrol's decision to take back control of the Rubiales field will imply heavier investment for it to sustain output and now raises the pressure on Canada's Pacific Rubiales to replace the future loss of nearly half its production, analysts say.
Colombia Oil Worker Strike Could Begin March 19
Colombia's main oil workers' union could start a threatened indefinite strike on March 19, its leader said on Friday, after previously saying the nationwide stoppage could begin any time after March 26. Union leader Edwin Castano said members…
Colombia Oil Workers' Union to Hold Indefinite Strike
Colombia's main oil workers' union, the USO, will hold an indefinite strike, its president Edwin Castano told Reuters on Wednesday, in protest over widespread job cuts in the sector after a plunge in crude oil prices, but no start date has been set.
Colombia's Ecopetrol Reserves Rise
Colombia's Ecopetrol SA said on Monday its proven oil and gas reserves increased 5.7 percent as of Dec. 31, 2014, from the previous year to 2.08 billion barrels equivalent, equal to 8.6 years of output at the company's current production rate.
Colombia Risks Losing Self-sufficiency in Natgas by 2018
Colombia's natural gas reserves will decline by about 5 percent a year from this year and it will need to import gas from 2017 unless investment to bring new supplies online is urgently ramped up, a senior oil sector official said on Wednesday.
Ecopetrol to Drill 3 Wells After Cutting Budget
Colombia's state-run oil producer Ecopetrol will drill three offshore wells this year, two off its Caribbean Coast and a third in the Gulf of Mexico, after slashing its offshore exploration budget to $200 million down from $632 million last year, the company said.
CNR to Ship Coal Via Public Colombia Port
Goldman Sachs mining affiliate CNR has reached a deal with a public port in Colombia to load its coal shipments which have been suspended for a year after its own docks fell foul of environmental regulations, a port source told Reuters on Monday.
China Grants $5.3b Credit Line to Ecuador
China has granted a $5.3 billion credit line to Ecuador as the oil-reliant Andean nation reorganizes its finances after a crash in crude prices slashed export earnings, Ecuador's official newspaper reported on Tuesday. Ecuadorean Finance Minister…
Ecuador Cuts Budget After Oil Prices Plunge
Ecuador has cut its 2015 budget by 4 percent due to a drop in export income resulting from the plunge in crude oil prices, the Finance Ministry said on Monday, with cuts to be made to investments and to the government's operating costs. The original budget of $36.32 billion…
Ecopetrol Board Says to Replace CEO
Ecopetrol will replace Chief Executive Javier Gutierrez after eight years, the board said on Friday, as Colombia's state-run oil company seeks to shift strategy after falling far short of production goals and seeing its stock plummet. Ecopetrol…
Ecopetrol Board to Replace CEO Gutierrez
The board of directors of Colombia's state-run oil company Ecopetrol will replace the company's chief executive, Javier Gutierrez, who has held the role since 2007, but it has not yet found a successor, the company said on Friday. Ecopetrol's shares have been on a steady slide since early 2013…
Colombia to Invest $1.74 Billion in Oil Pipeline Network
Colombia will invest $1.74 billion over the next five years to expand the capacity of its oil pipeline network by 16 percent, state-owned Cenit which runs the network said on Wednesday. The investments will take transport capacity of the 9,000…
Colombia Issues Guidelines to Soften Resistance to Oil Projects
Colombia launched a book of guidelines for oil companies on Wednesday aimed at addressing growing resistance by local communities to extractive industry projects, now one of the sector's biggest obstacles to investment and raising production.
Ecopetrol 3rd-qtr Profit Plunges 41 pct, Oil Output Lower
Colombia's state-owned oil company, Ecopetrol, reported a 41 percent drop in third-quarter profit on Friday, due in part to lower crude output and selling prices. Consolidated net profit, including earnings from subsidiaries, totaled 2.28 trillion pesos ($1.11 billion) for the quarter…
Ecopetrol Authorized to Sell $2.15b Bonds Abroad
Colombia's state-controlled oil company Ecopetrol has received authorization from the Finance Ministry to sell up to $2.15 billion of bonds on the international market, the company said in a regulatory filing. Ecopetrol said it had sought the…
