ACP as a source of information
Source: El País – Regional
Date: January 13
Headline: High oil prices benefit Colombia
The effects of the global tension caused by the recent confrontations between the U.S. and Iran are still being felt in the world economy and in Colombia, especially in international oil prices, which have experienced fluctuations that leave experts unclear about how they will behave in the coming days. (…) Of course, these high prices benefit Colombia. However, Francisco José Lloreda, director of the Colombian Petroleum Association, states that “we should not make optimistic calculations,” considering that “for fiscal purposes, the important thing is the annual average, and we are starting the year, so it is not clear how prices will behave throughout 2020.” (…) On the other hand, for Luis Miguel Morelli, president of the National Hydrocarbons Agency, the real impact of an increase in crude prices lies in the fact that foreign investor appetite would open up and Colombia would become a reference for oil exploration. Responded in: elpais.com.co (January 13).
Source: La Opinión – Regional
Date: January 13
Headline: Oil will open the appetite for foreign investment
Although the global tension caused by the most recent military confrontations between the United States and Iran has been de-escalating, the effects on the economy, not only of the planet but also of Colombia, are still being felt, especially in international oil prices, which have experienced fluctuations that leave experts unclear about how they will behave in the coming days. (…) Francisco José Lloreda, director of the Colombian Petroleum Association, states that “we should not make optimistic calculations,” considering that “for fiscal purposes, the important thing is the annual average.” For Luis Miguel Morelli, president of the National Hydrocarbons Agency (ANH), the real impact of an increase in crude prices lies in the fact that foreign investor appetite would open up and Colombia would become a reference for oil exploration. Responded in: laopinion.com.co (January 13).
Source: El Nuevo Día – Regional
Date: January 13
Headline: What will happen with oil?
Although the global tension caused by the most recent military confrontations between the United States and Iran has been de-escalating, the effects on the economy, not only of the planet but also of Colombia, are still being felt, especially in international oil prices, which have experienced fluctuations that leave experts unclear about how they will behave in the coming days. (…) Of course, these high prices benefit Colombia; however, Francisco José Lloreda, director of the Colombian Petroleum Association, states that “we should not make optimistic calculations,” considering that “for fiscal purposes, the important thing is the annual average, and we are starting the year, so it is not clear how prices will behave throughout 2020.”. Responded in: elnuevodia.com.co (January 13).
Source: elcolombiano.com – Regional
Date: January 12
Headline: What will happen to oil after the conflict between Iran and the U.S.?
Although the global tension caused by the most recent military confrontations between the United States and Iran has already begun to de-escalate, the effects on the economy, not only of the planet but also of Colombia, are still being felt, especially in international oil prices, which have experienced fluctuations that leave experts unclear about how they will behave in the coming days. (…) Of course, these high prices benefit Colombia; however, Francisco José Lloreda, director of the Colombian Petroleum Association, states that “we should not make optimistic calculations,” considering that “for fiscal purposes, the important thing is the annual average, and we are starting the year, so it is not clear how prices will behave throughout 2020.” (…) On the other hand, for Luis Miguel Morelli, president of the National Hydrocarbons Agency (ANH), the real impact of an increase in crude oil prices lies in the fact that foreign investor appetite would open up, and Colombia would become a reference for oil exploration.
Guild
Source: El Espectador
Date: January 13
Headline: Dollar: wait or buy?
Analysts indicate that the exchange rate would remain below $3,200 during the first quarter of 2020, but in the remainder of the year, there is a risk of increases and volatility in the currency. In the second half of 2019, the dollar broke eight historical highs, causing the currency to average $3,200 (in July) to exceed S3,517. (…) For his part, Camilo Silva, founder and analyst of Valora Analitik, explains that «since 2017, the dollar has had more of a downward trend than an upward one during the first quarter, and this year does not seem to be the exception. The influx of resources to pay taxes, to distribute dividends (like Ecopetrol), and for investment is one of the factors influencing the decline in the exchange rate at this time. Therefore, we believe that, while there may be volatility due to geopolitical tensions, the currency should fluctuate between $3,150 and $3,200. We do not see the scenario for it to drop below $3,100.».
Source: La República
Date: January 13
Headline: The Reficar case adds a new international lawsuit
To the troubles that the Cartagena Refinery (Reficar) has faced in recent years, where entities and former executives have been investigated, a new chapter is added. This time, before the International Centre for Settlement of Investment Disputes (ICSID). It is a new legal dispute between the Joint Venture Foster Wheeler USA Corporation and Process Consultants Inc and the Colombian state, in which alleged economic and reputational damages caused to the company by the investigations carried out in the case are claimed. (…) According to what LR was able to establish, it was for that year that the Ecopetrol subsidiary, which contributes 161,000 barrels per day to the company, according to its latest financial result, signed a contract that included certain guarantees and specific rights.
Source: Portafolio
Date: January 13
Headline: Two oil companies prepare to do fracking in the country
Two multinational oil companies with decades of presence in Colombia decided to set aside the development of the traditional businesses they had been conducting for years in the country to focus all their efforts on a single task: fracking. These are Chevron and ExxonMobil, whose respective administrations, after several months of studies and analysis, opted to turn their operations in the country 180 degrees to concentrate on a single objective, the operation of unconventional reservoirs (YNC). (…) The large hydrocarbon deposits in YNC in the Magdalena Medio, in the departments of Santander, Antioquia, Bolívar, and Cesar, would have between 2.4 billion and 7 billion barrels of crude oil and about 18,000 gigacubic feet of gas, according to preliminary studies by Ecopetrol, are very attractive resources for ExxonMobil's management.
Source: Portafolio
Date: January 13
Headline: Twenty protagonists of the economy in 2020
Colombia starts this year amid a complex economic landscape, full of tasks and challenges. Reducing unemployment, implementing tax reform, facing citizen discontent, processing unpopular laws, advancing in the development of ICT, infrastructure, the use of fracking technology, promoting alternative energies, seeking approval for its projects in Congress, complying with and supporting the decisions of the Board of the Bank of the Republic, defending itself from the effects of external factors, and, as if that were not enough, enduring the constant scrutiny of credit rating agencies. (…) 14. Felipe Bayón, key in ‘fracking’ There is no doubt that once the path is cleared for the development of fracking pilots, the task will fall on Ecopetrol, a company that is already organizing its operations to advance the mission in the Magdalena Medio. And who will be at the forefront will be the president of the Colombian company himself.
Source: La Nación
Date: January 13
Headline: Fracking, one step away
Two oil companies are preparing to do fracking in the country. These are Chevron and ExxonMobil, whose respective administrations, after several months of studies and analysis, opted to make a 180-degree turn in the operation they were executing in the country, to focus on a single objective, the operation of unconventional reservoirs (YNC). In the case of the first multinational, it recently sold to Hocol (a subsidiary of Ecopetrol) the 100% of the assets it owned for the production of natural gas in La Guajira; Chuchupa (offshore) and Ballena (onshore).
Source: El Nuevo Siglo
Date: January 12
Headline: Eln is more involved in drug trafficking today than before: Restrepo
Next Friday marks one year since the attack in which Eln killed 22 police cadets at the General Santander School in Bogotá, using a car bomb. (…) Strike, fracking, and royalties (…) When the Government says ‘I will not negotiate military doctrine’; ‘I will not negotiate the reversion of Ecopetrol to make it one hundred percent public’; when it says ‘I will not negotiate other things’, it means that there are others that it will negotiate out of the 140 that are on the table. (…) In the meantime, some pilots must be conducted to ensure with certain standards and procedures that there will be no harm to the environment, but fracking is essential because both gas and crude oil reserves are depleting in the country at a worrying pace. It would be unacceptable for the Government to reverse a policy it has been proposing from the Ministry of Mines regarding fracking because some gentlemen from a strike committee demand that it backtrack on that.
FSource: El Nuevo Siglo
Date: January 12
Headline: The country returns to dialogue mode
Starting tomorrow and until January 28, the “National Conversation” led by the Casa de Nariño resumes its regional and citizen phases. The agenda provides that on March 1, reports will be submitted based on which a legislative package will be presented on the 15th of that month and territorial development plans will be configured on the 20th. According to official information, within the citizen phase, there will be a meeting with young people tomorrow, with whom their problems, needs, and proposals will be discussed to close gaps and achieve equity. (…) Unofficially, it has been reported that among the points the Executive rules out discussing is reviewing the national defense and security policy, as well as the State regaining 100% of the shares of Ecopetrol.
Source: El Colombiano
Date: January 12
Headline: The future depends on fracking. By Rafael Nieto Loaiza
In her first statements, without having coordinated with her cabinet colleagues responsible for those matters or with the president, and commenting on issues of which she is not an expert, the Minister of Science and Technology came out swinging against fracking and the use of glyphosate. I have written several columns on glyphosate and its importance in the fight against drug trafficking. That’s why I prefer to focus this one on fracking. (…) The economic impact of the sector has not been sufficiently well valued. Only Ecopetrol contributed in 2018, through taxes, dividends, and royalties, 23 trillion pesos. Transfers from the entire sector exceed 30 trillion. (…) In the United States and Canada, where environmental standards are extremely high, there has not been a single case of aquifer contamination, among other reasons because those aquifers are located thousands of meters closer to the surface than the unconventional reservoirs accessed through fracking. (…) In short, fracking could add between 2,000 and 7,000 million to oil reserves. Their future depends on Colombia.
Topics
Source: La República
Date: January 13
Headline: Fracking, abortion, and the election of the Prosecutor, among the pending issues of the Courts
During 2019, the Constitutional Court, the Council of State, and the Supreme Court of Justice discussed issues that were controversial. Among them, some stand out such as the debate on the use of glyphosate, the Financing Law, or the controversies over the seats of Ángela María Robledo and Antanas Mockus, among others. (…) One of the most important issues that the Council of State will address is the approval of the use of fracking, a controversial topic due to the opposing positions of environmental groups and the Government.
FSource: La República
Date: January 13
Headline: The issues that the Courts will have to define in 2020
Among the most heated topics that the Constitutional Court, led by Gloria Stella Ortiz, will address in 2020 are the possible actions against the Financing Law, the lawsuits against the National Development Plan, and the review of the conviction of Luis Felipe Arias. In addition, there will be controversial debates in the Council of State, where the use of fracking and the seat of Antanas Mockus will be discussed. Meanwhile, the Supreme Court of Justice will elect the Prosecutor and continue investigations against former president Álvaro Uribe.
Source: El Nuevo Siglo
Date: January 13
Headline: Glyphosate. By. José Félix Lafaurie Rivera
The Government published, for citizen observations, the decree on controlled aerial spraying in the eradication of illicit crops, fulfilling the requirements of the Constitutional Court in a ruling that was a “washing of hands”: allowing spraying and pleasing some, but filling it with requirements and pleasing others. (…) The same happened with peace, which was not a matter of good and bad. The legitimate concerns about “the social,” “the environmental,” and “citizen participation,” manipulated by the left and the center-santismo, intersect with controlled fracking, without considering the poverty that will come when it is time to import oil; just as they intersect with controlled spraying, in a country full of coca and stained with blood from drug trafficking.
Source: El Tiempo
Date: January 12
Headline: 2020-2029, a debate between pessimism and opportunity
When at the stroke of midnight on December 31, the wishes for a happy new year were heard throughout Colombia, more than one toasted to the end of a decade that, in the opinion of many, was not without its disappointments. Aside from individual experiences, the impression left by what was expressed on social media is that the bulk of the citizenry was happy to leave in the past not only the calendar that had just finished shedding its leaves but also the previous ones. (…) Although we could win another lottery if oil rises to the stratosphere again, it is advisable not to think with desire. Because of this, the challenge is to diversify the productive base, without depending so much on hydrocarbons. A policy that attracts investment and allows for the potential that exists in areas such as agriculture or tourism would help generate virtuous circles.
Institutional
Source: La República
Date: January 13
Headline: TGI supports the construction of a regasification plant
The president of Transportadora de Gas Internacional (TGI), Mauricio Vera, expressed his support for the plan that the Ministry of Mines and Energy has for the sector looking towards 2024. In particular, Vera celebrated the project for the construction of the Regasification Plant in Buenaventura. According to the executive, this is a suitable proposal to guarantee the country's gas supply.
Source: La Nación
Date: January 13
Headline: To import gas
The Minister of Mines and Energy, María Fernanda Suárez, warned that if measures are not taken, the country will have to increase gas imports in 2024. For Suárez, fracking would be the solution. The minister's warning was made during the socialization of the Natural Gas Supply plan. According to the Mining and Energy Planning Unit (Upme), the country is obliged to find new sources of gas supply to avoid a deficit in a few years.
Source: El Tiempo
Date: January 12
Headline: I am not a demon, says the Minister of Mines defending fracking
“I am not a demon,” exclaims the Minister of Mines and Energy, María Fernanda Suárez, while explaining the defense she has made of the hydraulic fracturing system, or ‘fracking’, to obtain gas and oil. The technique consists of fracturing the rock at the bottom of the ground through the injection of high-pressure water, thus releasing the oil and gas that are trapped by that rock. The global debate on the issue arises from the fact that the pressurized water being injected is mixed with chemicals. Proponents of ‘fracking’ argue that the technique poses no significant risks and insist on its economic benefits, due to the vast amounts of hydrocarbons that were previously inaccessible and that the new technique allows to extract. Its opponents denounce the contamination of the atmosphere and water, the proliferation of chemicals on surfaces, and possible health effects.
Source: El Espectador
Date: January 12
Headline: She showed her claws. By: Ramiro Bejarano Guzmán
I refuse to believe that the spokespeople of Cambio Radical, the U, and liberalism would be so foolish as to enter the ministerial cabinet. A grave mistake that these collectives would incur, because they would join a Government that despises them and from which they would report nothing good. It would weigh on them. They would get on a roller coaster from which they would descend as agitated as when they climbed. (…) The Government and its party are so intolerant that they do not allow dissent even from their ministers; they are forbidden to think differently from Uribe and Duque. This has been demonstrated by the backlash that the Minister of Science and Technology has suffered on Twitter, because she criticized fracking and the use of glyphosate to spray coca plantations. Poor minister! And what is yet to come.
Colombian Association of Oil and Gas