Protesters Block Highways Near Oil Fields In Eastern Colombia
Last update: 3/2/2012 10:26:29 AM
BOGOTA (Dow Jones)--Several hundred protesters in Colombia's rural eastern plains set up at least three highway roadblocks Friday to prevent passage of oil tanker trucks that carry around 50,000 barrels a day of crude oil to a nearby pipeline, a government official said.
Companies affected include three Canada-based firms, Canacol Energy Ltd. (CAAEF, CNE.T), Parex and PetroMagdalena; as well as San Antonio-based Lewis Energy, said the official from the Mines and Energy Ministry.
The protests are over a recent reduction in royalties that some local communities will receive from the oil companies in exchange for drilling rights on the land. A new Colombian law spreads out royalties to include regions where oil isn't produced, which means the oil-producing regions receive less than before.
A representative at Parex confirmed that one of the roadblocks, near the town of Trinidad in the state of Casanare, was affecting the company's operations.
Officials at the other oil companies mentioned weren't immediately available for comment.
-By Dan Molinski, Dow Jones Newswires; 57-310-867-6542; dan.molinski@dowjones.com
It's all happened before and it will all happen again. Might as well profit from it.
