Ecuador says SOTE pipeline repairs ahead of schedule
02 Mar 2008 14:43:35 GMT Source: Reuters
(Adds details) QUITO, March 2 (Reuters) - Ecuador's repairs on its damaged SOTE pipeline are ahead of schedule and pumping should start late Sunday, Oil Minister Galo Chiriboga told Reuters on Sunday. He said Petroecuador output will not be disrupted by the early repairs. "I believe tonight it will be ready, the pumping will restart," Chiriboga said. Ecuador delayed exports of its Oriente crude after the SOTE pipeline was shut on Thursday due to a mudslide. Petroecuador said it could start lowering daily output if the line is not fixed by Sunday afternoon because of scarce storage capacity in oil fields. News of the pipeline disruption helped send oil to a record high above $103 per barrel, though prices later retreated. Petroecuador exports an average of 180,000 bpd, of which 120,000 barrels are Oriente crude. The SOTE carries most of the oil Petroecuador produces and crude extracted by private oil companies. (Reporting by Alonso Soto in Quito; writing by Patrick Markey in Bogota, editing by Maureen Bavdek)
Colombia's Defense Minister Juan Manuel Santos waves after a press conference at the defense ministry in Bogota March 1, 2008. Colombia's military said on Saturday troops had killed top rebel commander ...
