Crude oil production at the Cano Limon Field, operated by U.S.-based Occidental Petroleum Corp. (NYSE: OXY) in northern Colombia, is being gradually suspended after an escalation of rebel attacks on its pipeline, military and oil industry sources said March 1.The Cano Limon-Covenas Pipeline, which transports crude from the fields to a port in the Caribbean Sea for export, has been suspended since Feb. 15 because of a series of bomb attacks attributed by the military to the National Liberation Army (ELN), a Marxist rebel group.”At the moment 44 of 370 wells are reported shut down, storage capacity is at its peak,” a senior military official, who asked not to be named, told Reuters.
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Source: Daily Dose of ShaleDirectories.com News