ACP as a source of information
Source: Portafolio – National
Date: October 15
Headline: IEA reduces oil production forecast
The International Energy Agency (IEA) made a 180-degree turn regarding its forecast for oil production in the national territory. While in its June report it acknowledged Colombia for its oil task (…) “The country has managed to maintain a production level close to 900,000 barrels, but this is not guaranteed for the future. Hence the importance of making the reactivation materialize and ensuring it is sustainable. This will only happen if the relevance of hydrocarbons for Colombia is understood, and if the State, in unison, decides to overcome the structural obstacles we still have. Measures have been taken in the right direction, but our competitiveness is still fragile,” said Francisco José Lloreda, president of the Colombian Petroleum Association (ACP). According to the National Hydrocarbons Agency (ANH), Colombia increased its proven crude reserves by 9.91% between 2017 and 2018, rising from 1,782 to 1,958 million barrels (Mbls). It was replicated in: portafolio.co (October 14).
Source: El País – Regional
Author: Francisco José Lloreda Mera
Source: larepublica.co – National
Date: October 11
Headline: The positive data is the 3.21% that the economy in Colombia would grow
The positive data is the 3.21% that, according to the Bank of the Republic, the country's economy would grow this year. This projection, which was initially at 3.1%, would still be distant from the Ministry of Finance's expectations of 3.61%. The negative data relates to the 50 oil projects with investments of US$1.7 billion that would be suspended due to social conflicts, extensive procedures, and public order. This is according to an analysis by the Colombian Petroleum Association.
Source: 1250amcapitalradio.com – Regional
Date: October 11
Headline: Sector reactivation progresses, but challenges in exploration persist: ACP
The Colombian Petroleum Association (ACP) presented the economic report ‘Advances and Perspectives for Oil and Gas Exploration 2019’, which highlights the joint work done by the Government and industry for the reactivation of the sector, while drawing attention to the exploration behavior that does not show the expected signs of reactivation so far this year. (…) Among the advances to date, the implementation of the Permanent Area Assignment Process (PPAA), the issuance of the contractual minute for offshore areas, and the signing of five exploration and production contracts stand out; as well as the greater regional presence and support from the National Hydrocarbons Agency (ANH). In turn, the Commission of experts for unconventional reservoirs recommended starting exploration through Comprehensive Research Pilot Projects (PPII)…
Hydrocarbons Sector
Source: El Espectador
Date: October 15
Headline: Salaries: from precariousness to misery. By: Cristina de la Torre
With both hands, as corresponds to any corporatist government, unions and the Ministry of Labor propose to avert the tragedy of unemployment (which in several cities reaches 14.1%) with the ineffective formula of further degrading salaries. Paying work by the hour or 75% of the minimum to newcomers up to 25 years old will produce two catastrophic effects: it will drag down salaries across the entire labor chain and will ultimately eliminate what remains of union rights. (…) Perogrullo would propose strengthening the internal market, diversifying national production to overcome the hazards that the mere export of oil-coal entails, and opening the compass of the international market. A perspective opposed to that of this unruly capitalism that plunges workers from precariousness to misery without anesthesia.
Source: La República
Date: October 15
Headline: Dollar will quote at 3,425 during this week
The previous week ended with the announcement from the President of the United States, Donald Trump, about a trade pre-agreement with China, which would be the “first phase” of a complete treaty to end the war between both powers. Today, after the holiday Monday, it is expected that the local market will receive the news, so analysts project a recovery of the Colombian peso to an average of 3,425. (…) According to analysts, the price per barrel of the WTI crude benchmark could reach US$54.8 on average this week. The recovery of oil is due to the approaches for ending the trade war; however, the market “will be attentive to tensions in the Middle East, focusing on Iran and Saudi Arabia,” commented Alfonso Esparza from Oanda. Both producers have had diplomatic differences, and the increase in their accusations could lead OPEC to separate.
Source: La República
Date: October 15
Headline: Stocks and oil fell due to uncertainty in trade negotiations
Despite the rises with which the markets closed on Friday, when the first part of an extensive but apparently beneficial agreement between the United States and China to end the trade war that plagues the world was discussed, global stocks and oil prices closed lower on Monday due to uncertainty. (…) Based on this, oil prices traded lower in the session. «The international benchmark Brent closed down 1.92%, at US$59.35 per barrel, while the West Texas Intermediate from the United States (WTI) fell 2.03%, to US$53.59,» noted Reuters.
Source: La República
Date: October 15
Headline: After the agreement, Ecuador expects to restore its crude production in two weeks
After twelve days of protests in Ecuador due to the austerity plan announced by President Lenin Moreno, the Government managed to reach an agreement with the protesters who paralyzed several cities and roads in the country, and as confirmed by the Minister of Energy of that country, Carlos Pérez, since yesterday the pumping of crude in several oil blocks has begun to be gradually restored. Pérez also announced that normal pumping levels are expected to be reached in a couple of weeks, after production was affected by the protest days, during which groups of protesters entered the country's oil infrastructure in the Amazon provinces of Orellana, Napo, and Sucumbíos, which forced the suspension of activities in at least nine blocks and halted the transportation of crude through the state pipeline.
Regional News
Source: prensalibrecasanare.com
Date: October 15
Headline: Equión conducts a well control loss drill this Wednesday
Equión informed the general community that the major drill in the operation, which was postponed the previous week due to weather conditions, will take place next Wednesday, October 16, 2019. (…) The planning and rescheduling of the drill was carried out with the participation of the relevant authorities, Volunteer Fire Department, Municipal Government Secretariat, Colombian Red Cross Casanare Section, Civil Defense, Police Department, National Army, Air Force, and Corporinoquia, among others. “The drill is part of the preparation and training processes that Equión develops in its operations to ensure safe, responsible, and sustainable management, prioritizing the value of life in all its manifestations,” stated the Company.
Source: Caracol TV
Date: October 13
Headline: Government recognizes the Governor of Casanare Alirio Barrera for financial cleanup
Source: eldiariodelllano.com
Date: October 12
Headline: Equión established a new date for the operation drill
Equión informed the community in general that the major drill in the operation, which was postponed the previous week due to weather conditions, will take place next Wednesday, October 16, 2019. The company reminded that it consists of a sequence of events to simulate the response to an emergency situation related to a loss of control of the Pauto Mp-9 well, in the Cagüí Primavera village, El Charte district, municipality of Yopal.
Source: elconuco.com.co
Date: October 11
Headline: In Puerto Gaitán, stolen material recovered from the company Ecopetrol
Troops from the Seventh Brigade recovered a significant amount of copper wire that had been stolen from the state company of the country, in the Meta department. In the El Porvenir village of the municipality of Puerto Gaitán, Meta, troops from the 15th National Army Special Energy and Road Battalion, in coordination with the National Police, managed to seize 504 kilograms of submersible electro copper wire belonging to the company Ecopetrol. (…) In this way, the National Army reaffirms its commitment to protecting the critical infrastructure of the State and addresses the damage that this type of theft generates in the development of oil operations in the department.
Source: millanotv.co
Date: October 11
Headline: ‘Sembrando Joropo’ presented progress in training process with students from Tauramena
The program supports the cultural reaffirmation of communities through the strengthening of regional folklore in singing, dancing, and musical interpretation. A group of 471 children and young people studying at the El Cusiana educational institution in Tauramena presented the progress of their training process within the framework of the ‘Sembrando Joropo’ program supported by Ecopetrol in Casanare, which aims to strengthen cultural values in the region. (…) Ecopetrol has been supporting the ‘Sembrando Joropo’ process since May 2019 through a program that seeks to develop the artistic capabilities of 1,300 children and young people from six educational institutions in Aguazul, Tauramena, and Yopal, through music and dance. (…) In this way, Ecopetrol continues to demonstrate its commitment to the sustainable development of Casanare and the eastern plains.
Source: noticosta.com
Date: October 11
During the government of President Iván Duque, resources have been invested in the department of Arauca for education, comprehensive care for children and adolescents, roads and road infrastructure, and improvement of the coverage of the public domestic gas service. Thus, the government has allocated resources amounting to 79,737 million pesos for the fulfillment of 15 of the 28 commitments made in the Workshop Building Country held in Arauca. (…) The National Hydrocarbons Agency (ANH) through the Hydrocarbons Territorial Strategy in partnership with the Mayor's Office of Arauquita, the company OXY – Alcaraván Foundation, and the Entrepreneurship Fund, carried out this strengthening project that directly benefited 50 families and indirectly benefited 200 families. The project had an investment of 68,105,504 million pesos.
Colombian Association of Oil and Gas