Colombian pipeline operator sells bonds to finance pipeline

The new bonds will be backed by the revenues the pipeline operator receives from shipping oil for state-controlled Ecopetrol, which also has a 65 per cent interest in ODL.

ODL’s pipeline was inaugurated earlier last month and currently ships about 72,000 bbl/d of oil from the Rubiales field to Colombia’s oil pipeline network for export.

Canada’s Pacific Rubiales Energy owns the remaining 35 per cent interest in ODL.

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