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Ecopetrol declares force majeure on some Vasconia deliveries

  • Colombia's Ecopetrol (EC +0.3%) declares force majeure on some deliveries of medium Vasconia crude after the Cano Limon-Covenas pipeline was damaged by a series of attacks by leftist guerillas.
  • The pipeline has been shut since a March 25 blast, and EC says normally speedy repairs could not take place because of objections made by an indigenous community near the blast site.
  • Occidental Petroleum (OXY +1.1%), which like EC relies on the pipeline to pump oil to the Caribbean coast from the OXY-operated Cano Limon oil field, says it suspended some contractors due to the pipeline's closure.
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