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Colombia's Ecopetrol snubs Pacific Rubiales

Monday, March 16, 2015

Colombia's state-run oil company Ecopetrol will not extend its contract with Toronto-listed Pacific Rubiales to operate the country's highest-producing oilfield, the company said on Friday.

Under the contract, set to expire in the first half of 2016, Ecopetrol has rights to 60 percent of the production at the Campo Rubiales oilfield, while Pacific has the remaining 40 percent.

Source: Reuters