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The OCEANSA pipeline in Columbia.
The OCEANSA pipeline in Columbia.
(Enbridge Inc.)

Stake in key Colombian pipeline provides Pacific Rubiales with plenty of options

A small interest in Colombia’s most important oil pipeline represents a versatile plum for Pacific Rubiales Energy Corp. in its $935-million takeover bid for fellow Colombia oil explorer Petrominerales Ltd.

Petrominerales has a 5 per cent stake in the 560,000-barrel-a-day Ocensa pipeline, which extends 830 kilometres to Colombia’s Caribbean coast from the country’s central oil fields. The line moves more than half of the country’s oil production.