Crude export supplies exhausted at Colombia oil terminal : LUSENET : TB2K spinoff uncensored : One Thread

Friday August 4, 11:02 am Eastern Time

BOGOTA, Aug 4 (Reuters) - Crude export supplies at Colombia's main, one million barrel-capacity terminal at Covenas are exhausted after back-to-back Marxist rebel attacks over the last two weeks on the pipeline that pumps oil to the facility, state-run oil company Ecopetrol said.

``It seems there is nothing in Covenas right now,'' an Ecopetrol spokesman said.

The lifting terminal stores crude from the 105,000 barrel per day Cano Limon oil field, Colombia's second largest oil complex, in northeast Arauca province which is operated by Occidental Petroleum Corp. (NYSE:OXY - news) in association with Ecopetrol.

Storage tanks at the terminal are usually kept close to full capacity to meet export commitments but Marxist rebels have bombed the pipeline that connects Cano Limon with Covenas at least three times since July 23, most recently on Friday morning.

The spokesman said Ecopetrol was due to load a 500,000 barrel cargo at the end of next week but Occidental has refused to say what its export commitments are. The pipeline outage is the longest this year but neither Occidental nor Ecopetrol have said if they are preparing to declare force majeure on production or exports.

-- (here_we@go.again), August 04, 2000


LOLOL! Not Y2K related, just those damn Marxist rebels again, right creep? Hee heee hee!!!

-- (y2k@inventory.kaput), August 05, 2000.

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