China is studying deal to build oil pipeline in Colombia

Colombia says it has signed agreements with China to study the joint financing and construction of a pipeline that would send at least 300,000 barrels of oil daily to Colombia's Pacific coast for export.

Colombian Mining and Energy Minister Mauricio Cardenas tells The Associated Press that two memorandums of understanding were signed Wednesday during President Juan Manuel Santos' visit in Beijing.

Cardenas said by phone from China that one agreement is with China's development bank while the other involves the bank, Colombia's state-run oil company Ecopetrol and the Chinese conglomerate Sinochem.

Source: Bloomberg