Ecopetrol and Shell hit by terrorist attacks


More rebel bombings have hit Columbia's state oil company Ecopetrol, while Nigerian thieves are draining their country's revenue and Yemen is also hit.

Two of Columbia's Ecopetrol SA main pipelines, one near Venezuela and the other near Ecuador, were forced to stop pumping oil after two bomb attacks by rebels.

With crude making up 40% of all Colombia's exports, the government relies on the sale of oil and other petroleum products for more than half of its foreign revenue. The two attacks, on the state-owned company's pipelines have halted the transportation of more than 100,000 barrels of oil.

The first attack hit Colombia's second-largest oil pipeline, the Cano Limon, although responsibility for the bombing is unclear. Police are saying that the second attack, on the Transandino pipeline, was committed by Colombia's largest rebel group, the Revolutionary Armed Forces of Colombia, or FARC, which is currently in peace talks being with Columbian government representatives in Cuba.

The pipeline attacks appear to have become an annual event, with both pipelines being forced to close at around the same time as a result of bombings in 2011 and 2012.

Meanwhile, in Nigeria, Shell is estimating losses of around 60,000b/d as a result of pipeline sabotage which is costing the country around one tenth of its daily production, particularly of Bonny light Crude.

Africa's largest crude producer is suffering at the hands of oil thieves who are rupturing pipelines with dynamite, stealing the oil and either selling it to local refiners or to tankers moored off the Nigerian coastline.

The country's President, Goodluck Jonathan, is calling on other oil producing nations to help put pressure on countries accepting or laundering stolen Nigerian oil.

The Middle Eastern state of Yemen has also seen similar attacks, with the latest - at the beginning of March - yet again forcing the country's main oil pipeline to be paralysed. An explosion was in the Maarib region and cut the pipe which carries crude from the Marrib fields to the Ras Isa oil terminal. The oil is then shipped to Yemen's main refinery in Aden.

A previous attack stopped all production in the country and left Yemen to rely on imports from neighbouring countries.