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Colombia cancels Anglo-Australian oil contracts

Friday, January 15, 2016

Colombia's National Hydrocarbons Agency has canceled three exploration and production contracts that had been awarded in 2012 to Anglo-Australian consortium Optima-Range, which also must pay $54 million.

The companies presented "inauthentic letters of credit" as proof of their ability to comply with their contractual obligations, the regulator said.

Source: Efe