On Wednesday, Colombia’s Caño Limón-Covenas pipeline finally
came back online
after being closed for 67 days. The pipeline is crucial to transporting oil out
of the Colombian llanos, as it is the second-biggest pipeline in the country by
volume, with the capacity to carry 220,000 bpd of crude oil from the department
of Arauca to the Caribbean.
According to Reuters, this was the longest the pipeline has
been closed town since it started working in the 1980s. The Colombian
government blamed the shut down pipeline for the country’s failure to meet its
oil production target of 1 million bpd in July.
In mining related news, four miners died
in a mining accident in the municipality of Socha in the Colombian department
of Boyacá on Monday night. By Wednesday, the corpses of all of the miners had
been taken out of the mine. Other workers at the mine blamed its inadequate
ventilation system for the gas bubble, which triggered the explosion. Mining
and Energy Minister Tomás González assured that the Colombian government would
fully investigate the accident in pursuit of a safe and legal mining industry.
In other mining news, nickel miner Cerro Matoso accused the
National Mining Agency of applying an illegal tax formula on the company’s
profits. Colombian business journal Portafolio
explained that the Agency recently updated its formula for calculating its tax,
but Cerro Matoso is incensed that the Agency is trying to retroactively apply
this new formula to nickel production in 2012, 2013, and 2014.
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