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Oil pipeline to cut costs in Colombia

Tuesday, September 30, 2014

Amerisur Resources, the U.K. company building a pipeline between Colombia and Ecuador said the project will improve relations between the South American countries and cut transport costs.

The company expects the pipeline beneath the Putumayo River to be completed this year.

At full capacity, it will be able to pump 50,000 barrels a day and cut Amerisur’s transport costs to about $5 a barrel from $23, according to a company presentation.

Source: Bloomberg