ACP as a source of information
Source: El Colombiano – Regional
Date: December 05
Headline: The new royalty system is ready
The new way in which the resources generated in the country by the economic exploitation of soils will be distributed is now ready. On Tuesday night, the Congress of the Republic approved in the final debate the reform to the General Royalty System (SGR). (…) María Fernanda Suárez, Minister of Mines and Energy, added that “for the years 2019-2020, the regions have more than 24 trillion pesos in royalties, an amount equivalent to more than half of the annual budget of the education sector and twice the cost of the metro for Bogotá” (…) Even so, oil companies see this reform as a new opportunity for resources to be used better and to control the benefits they represent. “The reform is a successful combination that generates equity,” said Francisco Lloreda, president of the Colombian Petroleum Association (ACP). Responded in:elcolombiano.com (December 05).
Source: Vanguardia Liberal – Regional
Date: December 05
Headline: Forum
The TGI 2019 Forum “Use Gas, it’s natural” took place in Bogotá, with the presence of the main national authorities of Natural Gas in Colombia. Jaime Orjuela, Grupo Energía Bogotá; Alejandro Ossa, executive director Invest Pacific; Francisco Lloreda, president ACP; Mauricio Vera, president TGI; Astrid Álvarez, president Grupo Energía Bogotá; Ian Gordon, Noble Energy Colombia Limited; Orlando Cabrales, president Naturgas; Rodolfo Anaya, president Vanti; Marc Erb, director of Gas and LNG marketing for America; and Ricardo Ramírez, director UPME.
Source: Radio Red – Regional
Date: December 04
Hydrocarbons Sector
Source: El Tiempo
Date: December 05
Headline: This is how the cake of royalties will be distributed from 2021
Eight years after changing the distribution of resources from royalties for the exploitation of oil, gas, and minerals, and after the social conflict in the producing regions has intensified through the rejection of exploration and production projects, the country has just defined a new adjustment to the scheme. (…) The Minister of Mines and Energy, María Fernanda Suárez, highlighted that, for the first time in the country's history, the money that the State receives as the owner of the subsoil will have direct resources for environmental issues. (…) “The resources from mining and hydrocarbons cannot remain buried. They help reduce poverty and improve equity with social investment,” the official emphasized.
Source: La República
Date: December 05
Headline: «We hope that next year we can offer vehicular LPG»
Liquefied Petroleum Gas (LPG) will have significant expansion in the coming years, thanks to several resolutions being advanced by the Government in order to become a substitute for firewood and diesel. LR spoke with Alejandro Martínez, President of Gasnova, who explained how these plans are progressing. How is the supply of LPG progressing? Most of the LPG supply in Colombia comes from Ecopetrol, two-thirds comes from the same company, but the company uses and exports a large part of this fuel, resulting in a deficit of almost 17%.
Source: La República
Date: December 05
Headline: Do not exhaust the legitimate right to protest
The current National Government, led by President Iván Duque, has completed 485 days at the helm of the country's destinies, during which time a series of strikes, marches, protests, and stoppages have been called for a total of 239 days, which means that every two days the economy, politics, and society in general have to participate actively or passively in a day that disrupts everyday life. (…) The math is very basic: the general budget of the Nation is only $271 billion, money that comes from tax payments of $158 billion. The remaining $113 billion comes from dividends from entities like Ecopetrol and the Bank of the Republic.
Source: La República
Date: December 05
Headline: Cleaning of 11 billion euros
Madrid. The multimillion-euro cleaning in the balances of Spanish firms, to bring to zero or depreciate the value of assets, such as coal, gas, nuclear plants, or barrels of oil, totals more than 11 billion euros in a year and affects Naturgy, Endesa, and Repsol.
Source: Portafolio
Date: December 05
Headline: Royalties: there will be more investment and less savings
After eight years and several regulatory changes, Colombia will launch a new General System of Royalties (SGR) starting in 2020. This is thanks to the Congress approving yesterday in the eighth and final debate the reform to the aforementioned system, which has a fundamental change compared to the current SGR, and that is that the oil and mining producing regions will receive more resources, but the non-producing areas will not be affected. (…) For the Minister of Mines and Energy, María Fernanda Suárez, “the resources from mining and hydrocarbons cannot be left buried. They are resources that help reduce poverty and improve equity with social investment. Furthermore, with this reform to the SGR, for the first time funds will be allocated for environmental protection.”.
Source: Portafolio
Date: December 05
Headline: Ecopetrol, with fracking in the U.S.
In terms of unconventional deposits (YNC) developed through the fracking technique, for Ecopetrol things are ‘saying and doing’. And the undeniable proof of this is the nearly 1,400 barrels per day of unconventional oil that the Colombian oil company is already producing and will soon add to its volumes marketed in international markets. “The company is already producing oil through fracking in the Permian Basin in the United States thanks to the alliance it signed with Occidental Petroleum Corporation (Oxy),” said Felipe Bayón Pardo, president of Ecopetrol.
Source: Portafolio
Date: December 05
Headline: Brent crude oil rose 3.61% and closed at $63.
The United States reduced its oil reserves for the first time in more than a month, according to the Energy Information Agency. Oil prices rose yesterday on the eve of an OPEC meeting to assess the future of supply amid forecasts of new production cuts. In London, the February Brent barrel increased by 3.61% to $63, while in New York, WTI rose by 4.21% and closed at $58.43. Prices surged due to comments from the Iraqi oil ministry suggesting that OPEC could cut its supply in the two-day meeting starting today, which will also involve a dozen major producers, including Russia. New supply restrictions are expected to sustain the value of crude oil.
Source: Portafolio
Date: December 05
Headline: Ecuador bids farewell to OPEC starting today.
Although its official exit will be effective in January, the country is attending the summit of the oil organization for the last time. Ecuador is participating today and tomorrow in Vienna in its final meetings as a member of OPEC following its announcement that it will leave the oil cartel in 2020, a decision that will allow it to regain the freedom to increase its production to try to improve its delicate fiscal situation. The country, which announced its exit on January 1, 2020, is the smallest member of the cartel, with production between January and August 2019 averaging 534,000 barrels per day, most of which is for export.
Source: Portafolio
Date: December 05
Headline: Trump's defeat and the rise in oil prices among the black swans.
Black swans are those events whose probability of occurring is very low, even below 11%, but if they do occur, they could have a significant impact on the entire international economy. (…) Regarding the commodities market, which Colombia depends on, the entity also predicts that ‘dirty energies’ are regaining greater importance, while clean energies are collapsing. “In 2020, we see that things are changing for investment prospects as OPEC expands production cuts, unprofitable U.S. shale equipment slows production growth, and demand rises again from Asia. Additionally, investors in renewables realize that the returns on those investments are terrible,” the report indicates.
Source: El Nuevo Siglo
Date: December 05
Headline: 8,478 members of criminal organizations have been neutralized.
Although there is still much more to be done in terms of security (…) The head of the Defense portfolio indicated that the figures regarding the protection of pipelines have also shown improvement: “In the year 2000, there were 215 attacks, while in 2018 there were 107, and as of November of this year, there have been 70. This demonstrates that the problem does exist. As long as there is a single attack on a pipeline, the problem cannot be ignored. What it does show is that after a very high peak in 2012, when there were 259 incidents, as of November 2019, we have reduced that indicator.” Regarding the indicators of pipeline explosions, Minister Trujillo stated that the country is experiencing a reduction of up to 351%, “which means that there is an effort with good results, but we must continue. The initial actions have been made thanks to intelligence operations for the most part.”.
Source: El Nuevo Siglo
Date: December 05
Headline: Ecuador bids farewell to OPEC with the challenge of increasing its production.
The Minister of Hydrocarbons says that environmental issues must be resolved to attract investments and thus avoid the country being left with oil underground. ECUADOR is participating today and tomorrow in Vienna in its last meetings as a member of OPEC following its announcement that it will leave the oil cartel in 2020, a decision that will allow it to regain the freedom to increase its production to try to improve its delicate fiscal situation. (…) The policy in recent months of OPEC and its oil partners, including Russia, to cut production and thus maintain price levels was a “hindrance” for Ecuador, according to Acosta-Burneo. However, Quito now faces other obstacles, mainly environmental issues in a context of social protests.
Source: El Colombiano
Date: December 05
Headline: Oil prices rose yesterday
Crude oil increased yesterday on the eve of an OPEC meeting to assess the future of supply amid forecasts of new production cuts. In London, the February Brent barrel rose 3.6% to $63.00, while in New York, WTI had a 4.2% increase and closed at $58.43.
Source: Vanguardia Liberal
Date: December 05
Headline: The Congress took off
The installation of the X Oil Congress, organized by the Chamber of Commerce of Barrancabermeja, was held.
Source: Vanguardia Liberal
Date: December 05
Headline: Sinister silence. By Álvaro Ordoñez
In reality, the silence of the senators and representatives from Santander at this time of so many protests is frightening; that of the political parties, and especially that of the departmental directories, is alarming because it reaffirms the absolute lack of leadership and commitment to a department and a city that only exists in their objectives when it comes to achieving election. (…) how good it would be to know for sure how they vote on each bill, how reassuring it would be for voters to see them actually managing before the Ministry of the Environment in favor of the páramo and its protection or even in favor of mining exploitation if that were their conviction, or before Ecopetrol to process the necessary investment for the refinery, in short, doing something for the benefit of the department and its people.
Source: El Meridiano de Sucre
Date: December 05
Headline: They combat extortion
The Gaula Militar Prevention Unit held a prevention and awareness talk to counteract extortion and kidnapping. It took place at the Ecopetrol facilities in this municipality. Using audiovisual aids, it informed attendees about the different types of extortion and the «modus operandi» of criminals, who take advantage of the most vulnerable at this time of year.
Regional News
Source: Extra Casanare
Date: December 05
Headline: Captured with a fake license
Last Saturday in the early hours, the police were, as usual, carrying out their patrol duties on kilometer 96 of the Monterrey – Yopal road when suddenly an unknown man in a blue private vehicle was stopped by the patrollers for a preventive inspection. (…) It was a driver's license with multiple inconsistencies, as it had errors in the printing of the letters, alignment of the information, and due to its characteristics of fingerprint printing, letters, and barcode did not match a document legally issued by an original traffic authority. Upon reviewing his documentation, it was Mr. Milson Figueredo, who has worked as an operator at Perenco Colombia Limited.
Source: laschivasdelllano.com
Date: December 05
Headline: $69 billion was invested by the Government for the Central road of Casanare
In a coordinated effort by the Departmental Administration and the private companies Parex and GeoPark, the paving of 46 kilometers of the Central road of Casanare was inaugurated. In the Vigía – Trompillos district of the municipality of Tauramena, community leaders gathered alongside representatives from GeoPark and the Secretary of Works Héctor Miguel Gonzáles, representing the Government of Casanare, to formally deliver 46 kilometers of pavement of the Central road of Casanare that connects the municipalities of Tauramena, Maní, and Villanueva. With an investment of nearly 69 billion pesos by the Government over the last 8 years and 20 billion pesos from the companies GeoPark and Parex, the construction of the road is progressing with the aim of crossing the department and decongesting the Marginal del Llano, connecting the development and future of the region.
Source: lareporteria.com
Date: December 05
Headline: Geopark, Parex, and the Government of Casanare deliver 46 kilometers of pavement
In the Vigía – Trompillos district of the municipality of Tauramena, community leaders gathered alongside representatives from GeoPark and the Secretary of Works Héctor Miguel González, representing the Government of Casanare, to formally deliver 46 kilometers of pavement of the Central road of Casanare that connects the municipalities of Tauramena, Maní, and Villanueva. (…) With an investment of nearly 69 billion pesos by the Government over the last 8 years and 20 billion pesos from the companies GeoPark and Parex, the construction of the road is progressing with the aim of crossing the department and decongesting the Marginal del Llano, connecting the development and future of the region.
Source: violetastereo.com
Date: December 04
Headline: Senate approved reform to the General System of Royalties
The Plenary of the Senate of the Republic held the final debate on the Legislative Act project that redistributes the resources of the General System of Royalties (SGR) equitably. The Congress members approved the percentage reform that the producing territorial entities will receive. (…) In her speech, Amanda González stated that with the approval of the Legislative Act, communities requesting investment in education, housing, health, roads, among others, will benefit… “dear Colombians, with the approval of this Legislative Act, the quality of life for many families will improve and it will be the best Bicentennial gift that can be given to these regions that have contributed so much, not only in hydrocarbons, in agriculture and livestock; but in the history of this country that we love and are proud of,” Amanda Rocío concluded.
Source: periodicoelconuco.blogspot.com
Date: December 04
Headline: Ecopetrol congratulates Unillanos for important achievement
Ecopetrol celebrates the decision of the Ministry of National Education to grant qualified registration to the Process Engineering program that the University of Los Llanos will offer in Villavicencio, to train a new generation of professionals with an emphasis on hydrocarbons, renewable energies, and agro-industry. We are pleased to have participated in its structuring through the technological cooperation agreement between Unillanos and the Colombian Petroleum Institute (ICP), contributing to the relevance of higher education programs in the Orinoquia, to take advantage of the great potential that this region of the country has.
Source: periodicoelconuco.blogspot.com
Date: December 04
Headline: Dear young community of Acacías
Ecopetrol and RSIC invite you to a training breakfast tomorrow Wednesday, December 4th, starting at 9:00 am at the municipal public library. We want to share with you the social skills workshop and have a nice meeting with you. We look forward to seeing you with affection for this gathering and the second part of the social skills workshop within the framework of the Misión Felicidad program.
Source: diariodecasanare.com
Date: December 04
Headline: Reactivating the oil activity is a necessity
The oil sector contributes 51% of the national GDP and represents around 24% of foreign investment, but its activity has been affected by the volatility in oil prices in the global market. Hence the need for the country to reactivate the industry this year with a production target estimated at 890,000 barrels per day, although departments like Arauca, Casanare, Meta, Putumayo, and Santander, thanks to hydrocarbon operations, have recorded a positive dynamic for their public finances, especially Meta, experts told Noticiero del Llano.
Source: millanotv.co
Date: December 04
Headline: New commercial window for Casanare
Representatives from Austria, the Netherlands, Ireland, Belgium, Finland, and Poland were present in Casanare, along with the European Union ambassador, Patricia Llombart, to participate in a panel where the new commercial possibilities for the people of Casanare were presented, such as tourism and product exports. (…) Likewise, she reminded participants that the region had depended on the oil sector for years and emphasized that these international commercial alliances demonstrate that it is possible to strengthen and enhance different economic sectors.
Source: millanotv.co
Date: December 04
Headline: Government of Meta supports the socialization of the prosperity alliance decree in Acacías
The Secretary of Mines and Energy of Meta, Arnulfo Cruz, accompanied the socialization day of decree 186 of 2019, through which alliances for prosperity are implemented in Acacías, which will serve as input for the installation of the negotiation table that seeks to define the commitments of the ‘Alliance for Prosperity’. The official explained that the document seeks to prioritize skilled and unskilled labor, as well as local goods and services, and to urge Ecopetrol to comply with the Alliance for Prosperity, which must be monitored by the Secretary of Government.
Source: casanarenoticias.com
Date: December 04
Headline: Extraordinary sessions of the Departmental Assembly installed
The president of the Departmental Assembly, deputy York Cortés Peña, and the Secretary of Government and acting Governor Milton Álvarez, formally installed this last period of extraordinary sessions of the Duma. These sessions will last for 19 days, during which the Corporados will continue the study and relevant processing of nine initiatives presented by the Sectional Administration…
Colombian Association of Oil and Gas