ACP as a source of information
Source: gerente.com – National
Author: Francisco José Lloreda Mera
Date: November 05
Headline: Oil revenue should be used for roads: ACP
To contribute to the competitiveness of the country and the regions; the most appropriate thing is to invest strategically in improving the conditions for road transport. Colombia has made progress in this regard, but it is lagging behind other countries that made infrastructure a priority in the mid-90s and today have greater economic development. (…) Oil revenue should not be used as pocket money for the Nation or the regions, nor for low-impact projects. It should contribute to the competitiveness of the country and the regions; and the most appropriate way to achieve this is to invest strategically in road transport infrastructure. Moreover, if we really want to further diversify the economy and fiscal revenues, bolster tourism and agro-industry, and not depend so much on oil and its derivatives in the export basket - which represented 40% in 2018 - we must decisively turn to conquering international markets, otherwise, what are the Free Trade Agreements for, TLC.
Source: El País – Regional
Author: Francisco José Lloreda Mera
Date: November 03
Headline: To take off the gloves
After the elections on Sunday, the waters are gradually calming. While those who voted for Jorge Iván Ospina and Clara Luz Roldán are still celebrating, those who did not are lamenting it, and not a few predict a gray future for the city and the region. (…) Ospina was elected with 298,000 votes, followed by Roberto Ortiz with 199,807 votes. An undeniable victory, despite being equivalent to 37.93 percent of the vote. A similar situation occurred in most cities, including Bogotá and Medellín, whose mayors obtained 35.2 and 38.5 percent, respectively, which necessitates insisting on an immediate runoff for capital cities when none exceeds 50 percent. It was replicated in: elpais.com.co (November 03).
Source: El Nuevo Siglo – National
Date: November 02
Headline: II Oil and Gas Summit
On November 13, 14, and 15, the II Oil and Gas Summit will take place at the Ágora Bogotá Convention Center. This is the most important event in the hydrocarbons sector in Colombia, which brings together the main players in the industry. In this second edition, the central theme of discussion will be the Opportunities and challenges of the new energy revolution at a global level and its implications for the sustainable development of the country. The II Oil and Gas Summit is organized by the Oil Guild Committee (CGP) composed of the Colombian Petroleum Association (ACP), the Colombian Chamber of Oil Goods and Services (Campetrol), the Colombian Association of Petroleum Engineers (Acipet), the Colombian Association of Geologists and Geophysicists of Petroleum (Acggp), and the Colombian Association of Engineers (Aciem).
Source: suversion.com.co – Regional
Date: November 01
Headline: Infrastructure and Hydrocarbons, engines of the economy, commit to the Pacts for growth
Colombia ranks fourth among the 10 most competitive economies in Latin America with 62.7 points and 57th place globally. Likewise, it ranks 97th in the road connectivity ranking and 104th in road quality. (…) Regarding hydrocarbon production, he added that “we will not accept investments in an oil sector that proves to be predatory of our environmental sustainability, but we also do not have to renounce oil and say Colombia does not want oil, the middle ground is to say, welcome investments, but with standards in terms of environmental sustainability.” For the president of the Colombian Petroleum Association, Francisco Lloreda, this initiative from the National Government is important because it takes into account entrepreneurs and brings them closer to the executive. He reiterated in: vicepresidencia.gov.co (November 01).
Hydrocarbons Sector
Source: El Tiempo
Date: November 05
Headline: The arguments of former president Santos regarding the Odebrecht case
In response to the call for a free version made by the National Electoral Council (CNE) regarding the Odebrecht scandal, former president Juan Manuel Santos prepared a document in which he presents the arguments with which he claims he did not incur any irregularity. (…) Recently, information emerged related to contributions to campaigns made by Pacific Rubiales. The company's lawyer (a known opponent of Santos) quickly issued a statement saying that Pacific gave money to all campaigns in an absolutely legal manner, and added that the Santos government had not granted any perks or favors, but rather the opposite. And that is true. Pacific was not granted the contract extension with Ecopetrol as it had intended, nor was its request for discounts on the use of a pipeline accepted, as they also wanted. It was common knowledge that the executives of Pacific were supporters of Zuluaga, not Santos.
Source: La República
Date: November 05
Headline: Market expects Éxito and Celsia to have positive results
For a couple of weeks now, the disclosure of company performance between July and September of this year has begun. Analysts from Casa de Bolsa estimate that the financial results for the third semester will be mostly neutral with a positive bias, while those from Ultraserfinco expect positive behavior. Both equity teams believe that the best figures will be obtained by the financial sector, as they estimate a growth of the gross portfolio between 8% and 10%, which will be supported by the consumer portfolio and a recovery of the commercial portfolio. (…) Table. Expectation of quarterly results of companies (figures in millions). Canalcol. Revenues: US$66; Net profit: US$13
Source: La República
Date: November 05
Headline: U.S. ethanol exports already have 40% of the national market
Ethanol producers in Colombia have been asking the Government for over a year to apply compensatory measures to the biofuel that comes from the United States. This is due to the fact that a liter of ethanol from the northern country costs between US$1 and US$1.50, thanks to an industry that received US$6.409 million in subsidies in 2017, while the Colombian one is at US$2.20. (…) Additionally, a closure of plants not only puts the generated jobs at risk but also the investments that the sector has already made of over US$1.000 million in seven plants for production, four in Valle del Cauca, and one each in Cauca, Risaralda, and Meta, the latter where one of the most recent projects for the fuel owned by Ecopetrol is located.
Source: Portafolio
Date: November 05
Headline: Transport generated 50% in profits for Ecopetrol
Definitely, the transport segment was the business that stood out for Ecopetrol's operation in terms of profits for the financial exercise of the third quarter of this year. And the task in this area for the Colombian oil company turned out to be so profitable that it doubled the same earnings compared to the same period in 2018. (…) “Despite the attacks on the Caño Limón and Transandino pipelines, the midstream segment has carried out a strategy to ensure the possibility of bidirectional flow for some systems in order to guarantee the evacuation of crude oil from all production fields,” said Héctor Manosalva, president of Cenit Transport and Hydrocarbon Logistics.
Source: Portafolio
Date: November 05
Headline: Agenda - II Oil and Gas Summit at Ágora
November 13 to 15. II Oil and Gas Summit at the Agora Convention Center. The theme: challenges of the new energy revolution. Info: www.cumbrepetroleoygas.com.
Source: Portafolio
Date: November 05
Headline: Issuer projects drop in crude
The Bank of the Republic reduced the projection of the price of a barrel of oil in international markets for 2019 and 2020. This was estimated by the issuer in its new Monetary Policy Report, in which it listed several reasons for the drop in the quotation, highlighting the recent attacks on oil infrastructure in Saudi Arabia. (…) In addition to this, the issuer also takes into account the widespread appreciation of the dollar and the increase in hydrocarbon exploitation in the United States, the latter due to the growing development of Unconventional Reservoirs (YNC), through the technique of hydraulic fracturing (fracking).
Source: El Nuevo Siglo
Date: November 05
Headline: This is the year of the oil reaction: Campetrol
The president of the oil goods and services guild (Campetrol), Germán Espinosa, expressed optimism about the growth that the crude and gas exploration sector is experiencing this year, especially regarding the demand for infrastructure for well development. EL NUEVO SIGLO: How have you seen the sector's performance during the year? GERMÁN ESPINOSA: This year is the year of the oil reaction here in Colombia. The national government has promoted this policy, and the leadership has been from the Ministry of Mines and Energy. (…) ENS: What do companies think of this ‘green light’ being given to the oil sector? GE: Notice that a double highway is being inaugurated here for the first time. One that consists of two blocks chosen by the National Hydrocarbons Agency with the Geological Institute that has and offers in this round the 59 blocks or areas, 23 are from the stock that the ANH has and 29 are requested for the first time.
Source: El Nuevo Siglo
Date: November 05
Headline: The reform of the reform. By: Amylkar Acosta
The Constituent Assembly of 1991, when issuing the new Constitution, stipulated that “the exploitation of a non-renewable natural resource will cause, in favor of the State, an economic compensation in the form of royalties” and was respectful of the rights acquired by the regions where such exploitation occurs. (…) But there was a more powerful reason to propose this reform: “with the mining boom and the prosperity expected to come in the coming years, royalties will increase substantially, so governance needs to be changed.” (…) It is worth asking how they will ensure there is “more money” for producers without detriment to non-producers. The Minister of Mines and Energy is responsible for answering this question; as she herself says, the greater resources for both will come from savings, “savings are lower.” In this way, non-producing municipalities and departments “will maintain their share in the Royalty Budget.” So clear!
Source: El Tiempo
Date: November 04
Headline: London for «fracking» due to earthquakes
The British government announced a moratorium on hydraulic fracturing (or ‘fracking’), a technique for extracting shale gas from the subsurface, due to the risk of seismic tremors. The Minister for Business and Energy, Andrea Leadsom, stated that she made the decision following a report from the sector regulator, the Oil and Gas Authority (OGA), which investigated recent seismic activity near a site where hydraulic fracturing is practiced, in Preston New Road, Lancashire (northwest England). “After examining the OGA report (…), it is clear that we cannot rule out further unacceptable consequences for the local population,” Leadsom declared in a statement.
Source: El Nuevo Siglo
Date: November 04
Headline: More crude oil production and less coal this year expected
Two of the products that Colombia exports the most are oil and coal. However, in the short term, it is expected that due to the situation of global prices, crude oil production will slightly increase and mineral production will decrease. According to a report from Fedesarrollo's Economic Outlook, “so far this year until August, crude oil production was approximately 888,201 barrels per day on average, which represents an increase of 3.61% compared to the same period last year. Likewise, in August, crude oil production increased to 882,831 barrels, which represents an increase of 1.61% relative to the previous month and an increase of 1.81% compared to the same month in 2018.”.
Source: El País
Date: November 04
Headline: They say no to «fracking»
The United Kingdom announced its decision to end support for fracking for gas and oil extraction, as the Government concluded that it is not possible to prove that it does not cause earthquakes and seismic movements. Current projects have been paused.
Source: El Heraldo
Date: November 04
Headline: New social contract in Colombia. By: José Amar Amar
Every human being always walks with their shadow when the sun shines, Carlos Gustavo Jung taught us to express that, no matter how good our life is, there will always be something dark in it that is unhealthy to deny. We must recognize our shadows, dialogue with them, and responsibly find solutions to that dark part of our existence. (…) It is concerning how in Colombia the rulers do not realize that traditional visions of the economy are outdated. The opportunities generated by the knowledge society are not being seen. They do not want to accept that today's wealth is not land ownership, nor that the goal is to continue living off the mining extraction of oil and coal. Because that wealth is depleted, while knowledge multiplies.
Source: Vanguardia Liberal
Date: November 04
Headline: Goes public
The Saudi state oil company, Aramco, confirmed the decision to go public on the Riyadh Stock Exchange. The price and date of the offering are still to be determined. In the first half of 2019, the oil company achieved profits of US$46.938 million, an 11.3% decrease compared to 2018, due to the drop in crude prices. Moody’s and Fitch recently rated the company as the one with the highest profits in the world, with a net profit of US$111.100 million in 2018, according to their estimates.
Source: Vanguardia Liberal
Date: November 04
Headline: London abandons fracking due to risk of earthquakes it may cause
The British government announced that it is ending its support for hydraulic fracturing for gas or oil extraction due to the impossibility of predicting the earthquakes it may cause. The cabinet made the decision based on a report from the Oil and Gas Authority, OGA, “which found that it is currently not possible to accurately predict the probability or magnitude of earthquakes related to fracking operations,” according to a statement from the Department of Energy.
Source: El Meridiano de Sucre
Date: November 04
Headline: ‘Fracking’ in 2020
In the second half of next year, Ecopetrol would begin the «fracking» pilots. The company stated that it is awaiting the regulation from the national government.
Source: El Meridiano de Sucre
Date: November 04
Headline: To import ethanol
The biofuels guild, Fedebiocombustibles, asked Mincomercio to expedite the decision on ethanol imports. The guild claims that the measures imposed in May are insufficient for the industry.
Regional News
Source: violetastereo.com
Date: November 03
Headline: Solar panels for six municipalities
The Institute for the Promotion of Energy Solutions for Non-Interconnected Areas (IPSE) and the Ministry of Mines and Energy have finally launched the energy solutions project using unconventional energy sources with solar panel systems. The municipalities of La Primavera and Cumaribo (Vichada), Fonseca (La Guajira), Tierralta (Córdoba), Puerto Gaitán (Meta), and Cartagena del Chairá (Caquetá) were prioritized. The project is aimed at 3,229 homes, and the total investment amounts to $63.500 million, financed with resources from the Financial Support Fund for the Electrification of Non-Interconnected Areas (FAZNI), executed by IPSE and the Ministry of Mines and Energy.
Source: Extra Casanare
Date: November 02
Headline: Lies surround Unitrópico
Deputy Felipe Becerra reports that there is no approval of the resources allocated for this university to become public. For many months, the student community, government entities at the departmental and national levels have discussed the urgent need to establish the operation of the University of Unitrópico as Public, (…) The Ministry of Education, the rectory of the University of Unitrópico, and the Ministry of Finance and the Government of Casanare were very emphatic several months ago in stating that the resources would be approved to start as a public university in the first months of 2020; however, the Casanare population is very doubtful that this will happen.
Source: eldiariodelllano.com
Date: November 02
Headline: Hydrocarbon industry commits to job creation
The hydrocarbon sector committed to the national government, in the dialogue of the Pacts for Growth, to generate 4,300 new jobs over the next 2 years. “All entrepreneurs -medium, large, and small- are essential to achieve a country that is growing and making the most of all its opportunities. This economic growth must translate into more jobs and close the social gap to combat extreme poverty in Colombia; that is the conviction under which we are working,” said the Vice President of the Republic, Martha Lucía Ramírez. (…) Hydrocarbons represent 5% of the country's Gross Domestic Product. Between 2015 and 2018, they represented 12% of the Nation's current revenues, and during the 2019-2020 biennium, they will contribute 15 billion pesos in royalties to the country. Source: La Voz del Cinaruco
Date: November 01
Source: lavozdelcinaruco.com
Date: November 01
Headline: El Troncal de Arauquita, venue for the Special Government Council
Today, Friday, November 1, a Special Government Council will be held in the Populated Center of El Troncal de Arauquita, as part of several activities to be developed within the framework of the Peace with Legality policy, to stabilize the 170 municipalities in 16 areas most affected by violence and poverty in the country. (…) The Minister of Information and Communication Technologies will be accompanied by the Deputy Minister of Agrarian Affairs, Marcela Urueña, the representative in Colombia of the United Nations High Commissioner for Refugees (UNHCR), Jozef Merkx, the representatives of the Embassies of Peru and the Czech Republic, as well as the president of Ecopetrol, Felipe Bayón, the Vice President of Public Affairs of OXY, Juan Carlos Ucross, the legal representative of the Parex Oil Company, Rafael Ernesto Prieto, the National President of Cocoa Producers of Colombia, Eduard Baquero, as well as the Secretary of Government and Citizen Security, licensed Carlos Eduardo Pinilla Ruiz, as the delegate of the governor of Arauca.
Colombian Association of Oil and Gas