Colombia’s Ecopetrol Says Oil Theft From Pipelines Rose 46% Last Year

On average, 2,638 barrels per day of oil were stolen last year, up from 1,806 bpd in 2019, the spokesman said. The theft represents a fraction of Ecopetrol's production, which stood at 725,000 bpd in 2019.

RIO DE JANEIRO, BRAZIL - Theft of crude oil from pipelines operated by Colombia's state-controlled oil company Ecopetrol rose by 46% last year, driven by surging robberies along the Cano Limon-Covenas pipeline, a company spokesman said.

On average, 2,638 barrels per day of oil were stolen last year, up from 1,806 bpd in 2019, the spokesman said. The theft represents a fraction of Ecopetrol's production, which stood at 725,000 bpd in 2019.

The stolen oil was worth just under US$50 million, based on the volume-weighted average for global benchmark Brent LCOc1 in . . .

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