Daily news report August 28, 2019

22 de agosto de 20196 min de lectura

ACP as a source of information

Source: Vanguardia Liberal – Regional
Author: Alberto Montoya Puyana

Date: August 28
Headline: Where is our Santander going? Part 3

In the previous column, I suggested that we are on the verge of winning a lottery since the YNC, Unconventional Oil and Gas Deposits, are located in a high proportion in Santander and, once the results of the pilot tests and the respective approvals are obtained, Ecopetrol will begin its exploitation, respecting the strict regulations already adopted in Colombia, resulting from the experiences of fracking use in various countries, to preserve the environment and promote the social and economic development of the areas where the deposits are located. (…) Linked to this investment would be the reactivation of the Barrancabermeja Refinery Modernization Project, PMRB, since what is required for this is “to have crude oil and money” and with the exploitation of the YNC, proven reserves would increase between 2 and 6 times the current ones, according to the ACP. The expansion of the refinery will require an investment of US $ 4,000 million, equivalent to $ 8,000 million pesos daily for another five years. It was replicated in: vanguardia.com (August 28).

Hydrocarbons Sector

Source: El Nuevo Siglo
Date: August 28
Headline: Alliance against hunger in La Guajira

Chevron, the Diocese of Riohacha, and the Prosowa Foundation officially presented the first Food Bank of La Guajira, a new nutritional support program for children and their families in vulnerable situations. Entrepreneurs, foundations, governmental and non-governmental organizations were invited to the event, to join an alliance that seeks to consolidate itself as the most important hunger-fighting program in the department.

Source: La República
Date: August 28
Headline: «We will build a generation project with LPG in two years»

Empresas Gasco is a Chilean energy company that has 20% of the Liquefied Petroleum Gas (LPG) market, sells more than 100,000 tons of LPG per year, and has invested more than US$80 million in Colombia. However, the goal is to continue consolidating as a relevant player offering energy solutions, seeing great potential in the industrial, agricultural, transportation, and residential sectors. LR spoke with Pablo Garzón Duarte, general manager of Gasco Colombia, about new projects that the company would develop in the country.

Source: Portafolio
Date: August 28
Headline: They will invest US$2,000 million in more oil projects

84% of the resources will be allocated to exploration tasks in the waters of the Caribbean Sea. To address the precarious scenario of oil and gas reserves that Colombia has, the hydrocarbon reactivation strategy formulated by the National Government has allowed the signing of 16 exploration and production contracts with investment commitments exceeding US$ 2,172 million to date. At the end of the first semester, and after five years without a single oil block being awarded for development, the National Hydrocarbons Agency (ANH) signed several exploration and production (E&P) agreements in oil and gas. (…) “With the signing of nine offshore E&P contracts, the ANH expects additional investments exceeding US$1,700 million,” said Morelli, and specified that “to date, five of these nine contracts have been signed: Ecopetrol (COL-5); Shell and Noble Energy (COL-3 and GUA OFF-3); and with Ecopetrol, Repsol, and ExxonMobil (GUA OFF-1 and COL-4).

Source: Portafolio
Date: August 28
Headline: The dollar, close to its maximum

Latin American currencies depreciated on Tuesday as investors remain cautious about the future of an still uncertain trade agreement between the United States and China, so they covered risks in their portfolios. (…) Among the stocks that rose the most are Canacol, Grupo Argos, and Promigas, with increases exceeding 3 percent. Regarding Ecopetrol's stock, it had a decline of 0.56 percent yesterday, closing at 2,655 pesos.

Source: El Meridiano de Córdoba
Date: August 27
Headline: Oil and gas production increased

Colombia's mining-energy sector maintained sustained growth in the first half compared to the same period last year, reported the Ministry of Mines and Energy in a gas and crude production report. According to MinMinas, between January and July 2019, commercial gas production reached 1,041 million cubic feet per day (mpcpd), a 9.51% increase compared to the same period in 2018, when production was recorded at 956 mpcpd.

Source: Blu Radio

Date: August 27

Headline: Interview with Orlando Cabrales, President of Naturgas, talks about the decision made by the Council of State regarding fracking and explains the processes involved in fracking.

Source: Blu Radio

Date: August 27

Headline: The Council of State will meet again this Thursday to discuss the practice of fracking in Colombia, environmental organizations are calling for the precautionary measure that continues to halt this practice to be maintained. Statements from Juana Hofman, lawyer for the Inter-American Association for the Defense of the Environment – AIDA.

Source: Blu Radio

Date: August 27

Headline: Topic of the day. Opinions on fracking. The decision of the Council of State regarding fracking in Colombia will be defined this Thursday, to decide on the lawsuit filed regarding the administrative acts that regulate such a controversial activity. Reading from social media.

Source: Caracol Radio

Date: August 27

Headline: Interview with Juan Carlos Echeverry, Colombia and Fracking, by the end of this government, gas self-sufficiency could be lost, and the country's competitiveness would be at risk, which brings unconventional deposits that are exploited with fracking. Conditions for the oil industry.