Canadian oil company C&C Energia’s production was slowed this week due to protests and road blocks in Colombia’s Llanos basin.
C&C, South America’s fourth-largest oil producer, had to shut down production in two of its four blocks in the Llanos basin, which cost the company about CAD$250,000 ($245,000) per day.
“We know that the negotiations between the various government agencies are ongoing and we are participating to the extent we can,” C&C CFO Kenneth Hillier said. “There are additional meetings planned. We are encouraged by the fact that two of the four blockades have come down.” Hiller said that the “cost impact is negligible.”
In October 2010 C&C produced 797,000 barrels of oil per day (bpd). The blockades slowed C&C’s production by 7,000 bpd.
Rodolfo Puents from the Yopal mayor’s office told Reuters that the locals “are protesting against damage caused by several oil companies.”