Oil Industry Fears More Chaos After Colombia Rebels Disarm
- FARC peace accord may increase protests and delays: Campetrol
- Group slashes 2016 oil production target to 800,000 b/d
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While Colombia’s recent agreement to end 52 years of internal war with its largest insurgent group has been heralded across the globe as a rare victory for peace, the nation’s oil industry fears the deal may increase turmoil, not reduce it.
Parts of the accord with the Revolutionary Armed Forces of Colombia, or FARC, will amplify the risk of corruption, political meddling and delays to oil projects, according to Campetrol, the Colombian chamber of oil goods and services. Meanwhile, attacks on oil infrastructure have spiked this year by the Andean nation’s second-largest rebel group, the National Liberation Army, or ELN.