Even for Venezuela’s notoriously opaque economy, it was a sweetheart deal that went too far. Last August, state oil company Petroleos de Venezuela SA issued one of its largest tenders Continue Reading
The Colombian government and FARC rebels are close to ending their decades-long armed conflict following the anticipated signing of a bilateral ceasefire. The announcement of the agreement was made on Continue Reading
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 Continue Reading
Pacific has become a major bust from the commodity downturn. At its peak, it was… BOGOTÁ, Colombia—Latin America’s largest privately owned oil producer said it was preparing to file for Continue Reading
Colombian exports slumped to their lowest level since 2007 in January, as prices fell for the Andean nation’s oil, coal and coffee. Exports fell 37 percent to $1.84 billion from Continue Reading
Venezuela’s state oil company is temporarily halting natural-gas exports across the border to Colombia, citing climate factors and the need to generate electricity, the Colombian government said Friday. Petróleos de Continue Reading
Colombia’s peso led global declines as oil, the nation’s biggest export, tumbled on concern that a slowdown in China’s economic growth will reduce demand for the commodity. The peso plunged 1.5 percent to a record low 3,107.65 per dollar at the close in Bogota, extending its weekly loss to 3.7 percent. The daily drop was the biggest among 152 currencies tracked by Bloomberg. Crude oil tumbled to below $40 a barrel in New York for the first time since 2009. “This really is panic mode,” Andres Munoz, the head currency trader at Corp. Financiera Colombiana, said from Bogota. “Investors are getting out of emerging markets” including Colombia’s local peso bonds. One-month implied volatility on options for the peso, reflecting projected shifts in the exchange rate, increased Friday to the highest level since June 17. The currency’s swings may lead the central bank to announce currency measures to ease swings […]
Colombia Marxist rebels said they’ll step up attacks on security forces after suspending their cease-fire as peace talks to end Latin America’s longest-running insurgency drag on. The Revolutionary Armed Forces of Colombia, or FARC, will target the army more than oil installations, a guerrilla commander known as Matias Aldecoa said in an interview in Havana. Pipelines used by companies including Ecopetrol SA and Occidental Petroleum Corp. have been damaged in FARC bombing attacks in the past few weeks. “Soon people will see the war in this latest phase, and they’re going to see the number of police and soldiers who die,” Aldecoa said Saturday, in an interview in Havana. “For us, oil pipelines aren’t the No. 1 target.” The FARC suspended a unilateral cease-fire in May after the armed forces killed at least 26 guerrillas in an attack in south west Colombia. The resumption of attacks has increased casualties […]
BOGOTA 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 which caused a significant spill that has contaminated two rivers, the army said on Wednesday. Revolutionary Armed Forces of Colombia rebels, known as FARC, have intensified attacks on infrastructure in the past few weeks after calling off a unilateral ceasefire. They have attacked pipelines and trucks carrying crude oil, as well as damaging transmission lines, cutting power to large towns. The army confirmed that four troops were also killed on Wednesday after being ambushed by the FARC who set off remote-controlled explosives and fired on them with machine guns while on patrol in the southern province of Caqueta. State-run Ecopetrol which operates the Cano Limon pipeline through its Cenit subsidiary, said in a statement it is taking measures to contain the spill as local […]
The Transandino oil pipeline was attacked in a rural area of Cordoba city, in Narino department, W Radio reported June 12. In the past 15 days, there have been three attacks against the pipeline. Authorities have not verified whether the Revolutionary Armed Forces of Colombia (FARC) is behind the attack, but FARC was responsible for nine other attacks against energy infrastructure and security forces in the departments of Cauca, Caqueta, Narino and Putumayo.
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