Big oil discovery announced, then questioned, in Colombia

A bitter quarrel has erupted within the Colombian government over the possibility of a huge oil find, fraying the nerves of U’wa Indians long opposed to drilling at the site just outside their territory near the border with Venezuela. The ruckus comes weeks after Ecopetrol, the state oil company, announced it had found evidence of up to 200 million barrels of high-quality oil in the so-called Siriri block. At the heart of the debate are charges that Ecopetrol has in fact found far more water and useless gas than oil at the Siriri site, which lies less than three miles (five kms) from the U’wa reservation in the states of Boyacá and Norte de Santander. "This gigantic find is a bubble losing air... [Log in to read more]

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