ACP as a source of information
Source: Portafolio – National
Author: Francisco José Lloreda Mera
Date: August 01
Headline: Colombian oil industry, an example of transparency
The use of resources from the oil industry has been a topic of discussion for decades, especially in African countries, due to the rampant corruption that has characterized more than one government in that region, even calling into question the transparency in the management of resources by companies in the oil and mining sectors. (…) A similar situation has occurred with the companies: 21 companies engaged in oil and gas exploration and production, grouped into 13 business groups that represent 92% of the country's hydrocarbon production (Equion, Ecopetrol, Cepsa, Masarovar, Perenco, Parex, Drummond, Oxy, Chevron, Gran Tierra Energy, Canacol, Frontera Energy, Hocol). Adding the mining companies operating in Colombia, there are 34 companies that are part of this initiative, which grows every day. (…) In the case of our country, the initiative is supported by a coalition of government, companies, and civil society, led by the Ministry of Mines and Energy. It was replicated in: portafolio.co (July 31).
Hydrocarbons Sector
Source: El Tiempo
Date: August 01
Headline: Ecopetrol's bet to do fracking in the U.S.
While in Colombia the firm start of pilot exploration projects to determine the viability and potential of unconventional hydrocarbons through the fracking technique is fundamentally pending a decision from the Council of State on the regulation that has already been issued, Ecopetrol decided to make a multimillion-dollar bet in this area. And it did so through a strategic alliance with Occidental Petroleum Corp, to execute a joint plan for the development of unconventional reservoirs in the Permian Basin, in the state of Texas, in the United States, for which it will invest 1.5 billion dollars, marking another important milestone: its debut in onshore oil areas of that country. (…) Furthermore, the alliance with Occidental would allow the Ecopetrol Group to gradually increase production until 2027, when a net production of about 95,000 barrels per day would be reached.
Source: El Espectador
Date: August 01
Headline: In the big leagues of «fracking»
Ecopetrol enters the big leagues of global fracking in the United States alongside Occidental (OXY) with an investment of US$1.5 billion, which will allow the national oil company to raise current oil reserves by 160 million barrels of oil equivalent (mbpe). The announcement was made by the state oil company after concluding an agreement with OXY, one of the largest companies developing exploration in unconventional reservoirs (YNC). The arrangement will allow the development of an area of 39,000 hectares in the Permian Basin of the United States. This basin is number one in global production, extracting more than four million barrels of oil per day.
Source: El Espectador
Date: August 01
Headline: Overview of the irregularities of Bioenergy
The Prosecutor's Office is beginning to take its first steps to investigate the irregularities that may have occurred at the bioethanol plant in Puerto López (Meta). The Comptroller's Office, for its part, has pointed out the cost overruns in construction and the close relationships among those involved in the multimillion-dollar business. In the last two weeks, amid discussions regarding the return of aerial spraying with glyphosate and the scandal of the “wiretaps” within the Prosecutor's Office, among other news, the charges against two former executives of Bioenergy for undue interest in the celebration of contracts went unnoticed. This is the subsidiary of Ecopetrol that from 2010 to 2016 built in Puerto López (Meta) the largest ethanol processing plant in the country, El Alcaraván.
Source: La República
Date: August 01
Headline: «Maritime business can grow with Offshore»
The offshore hydrocarbon exploitation in the Colombian Caribbean will help boost the maritime industry in the short term. This was one of the conclusions of the maritime general director, Juan Manuel Soltau Ospina, who, less than two months before the World Maritime Summit 2019, which will be held in Colombia, assured that there is a window of opportunities for the country to be a leader in the region. Soltau Ospina revealed that the 928,660 square kilometers of national maritime territory have allowed 98% of the trade balance to move through this medium today. In fact, he recalled that around 194 million tons are moved through these routes.
Source: La República
Date: August 01
Headline: Ecopetrol will incorporate 160 million barrels
Ecopetrol continues to diversify its investment portfolio and will now bet on Unconventional Reservoirs (YNC) in the United States. Yesterday, the Colombian oil company announced a strategic alliance with Occidental Petroleum Corp with the aim of executing a joint development plan for YNC in the Permian Basin, located in the state of Texas. This is the largest acquisition in its history that will allow it to reach a net production of up to 95,000 barrels per day (kbped) in the future and incorporate proven reserves of 160 million barrels. The union of Ecopetrol and Occidental will allow the companies to strengthen their knowledge in the evaluation, development, and exploitation of YNC. For this partnership, which marks a new milestone in the relationship of more than 40 years between the two companies, Occidental will have a 51% stake, while the Colombian company will have 49% of the alliance.
Source: La República
Date: August 01
Headline: Character of the day. Felipe Bayón. President of Ecopetrol
Ecopetrol, a company led by Felipe Bayón, sealed a strategic alliance with OXY to develop unconventional reservoirs in the U.S., by working on 97,000 acres in the Permian Basin (Texas), where four million barrels are produced daily.
Source: Portafolio
Date: August 01
Headline: Ecopetrol increases its bet on the ‘fracking’ business’
In a matter of weeks, the Colombian company Ecopetrol will enter the select club of oil companies that develop ‘fracking’ in the world. Thanks to a Joint Venture signed yesterday afternoon with its counterpart Occidental Petroleum Company (Oxy), the iguana company will venture into the development of Unconventional Reservoirs (YNC) through hydraulic fracturing techniques on U.S. soil. (…) When inquiring with analysts from the country's oil sector about the alliance between Ecopetrol and Oxy to carry out ‘fracking’ in the U.S., they agreed that this fact raises questions about the delay in developing YNC in Colombia, especially when the mentioned operation is already in production.
Source: Portafolio
Date: August 01
Headline: OPEC pumping, the lowest in 8 years
OPEC's oil production registered a minimum in July of eight years, due to new voluntary cuts from Saudi Arabia deepening supply losses caused by U.S. sanctions on Iran and interruptions in other countries of the group, a Reuters survey showed. The 14 members of the Organization of the Petroleum Exporting Countries pumped 29.42 million barrels per day (bpd) this month, according to the survey, a decrease of 280,000 bpd compared to the revised figure for June and the lowest total for the group since 2011.
Regional News
Source: lavozdelcinaruco.com
Date: July 31
Headline: Informational meeting with the workers of Caño Limón and Caricare was held by the USO in Arauca
The Union of Workers' Syndicate Subdirectorate Arauca, in solidarity with the communities and workers who have been protesting for more than three months against the company Cenit, a subsidiary of Ecopetrol, held an informational rally with the workers this Tuesday morning to socialize the reasons for the mobilization. The union calls for solidarity from the Araucan citizens to support the demands of the community that remains in protest. (…) The demands of the workers were joined by the demands of the communities in the area of influence of the Caño Limón Pipeline, which relate to social investment projects and recognition of the environmental contamination caused by the oil spill on the farms that affects the farmers.
Source: lavozdelcinaruco.com
Date: July 31
Headline: Protesters are open to dialogue with the company Cenit
In a statement from the Social Organizations of Arauca, it was announced that after the riots that originated in the Las Acacias village of Arauquita, the mobilized farmers and workers are willing and open to dialogue with the company Cenit, a subsidiary of Ecopetrol. (…) Therefore, I URGENTLY CALL on the Ministry of the Interior and the office of the High Commissioner for Peace to intervene with the companies CENIT AND ECOPETROL and the mobilized communities, with the support of the National Hydrocarbons Agency -ANH-, the Ombudsman’s Office, and the Public Ministry in order to resume the negotiation table that allows closing the gap between the conflicting parties and to advance in the normalization of the activities of the oil industry in a scenario of recognition of human dignity and the defense of the environment.
Colombian Association of Oil and Gas