ACP as a source of information
GREMIO
Source: El Tiempo
Date: March 20
Headline: Canacol increased its gas sales by 261% in 2019
An increase of 52 percent in its gas sales in the fourth quarter, for a total of 26% for the entire year and a variation of 8% in its total revenues, reported the oil company Canacol Energy in 2019. Charle Gamba, president of the company, highlighted the expansion of transportation infrastructure and the increase of 12% in proven and probable reserves.
Source: El Tiempo
Date: March 20
Headline: New breath for world stock markets
The main stock exchanges in the world managed to catch a breath by recovering part of the losses from previous sessions and closing in positive territory. Colombia's stock exchange only advanced 0.64 after rising nearly 2% at the beginning of the session. ISA and Canacol were the ones that rose the most yesterday.
Source: La República
Date: March 20
Headline: Agenda for the week. General Assembly of Ecopetrol
Shareholders and the general public will be able to follow for the first time in 13 years, the General Assembly of Ecopetrol online. This March 27, it will be shared via streaming and live on the Institutional television channel starting at 9:00 a.m.
Source: La República
Date: March 20
Headline: Funds are buying
Recently, Treasury Secretary Steven Mnuchin said that this market situation could bring good opportunities for investors. Apparently, funds in Europe are listening, because they are buying: JPMorgan increased its stake in Repsol to 6.81% and BlackRock did the same with Telefónica and ACS. (MC)
Source: Portafolio
Date: March 20
Headline: Oil reacts and the dollar continues its upward trend
While the dollar registered a new historical maximum price of 4,153.91 pesos, stocks on the Colombian Stock Exchange rose slightly and the price of a barrel of oil increased by more than 14 percent after it plummeted to levels not seen in nearly 20 years on Wednesday. (…) Thus, the WTI barrel for April delivery ended at 25.22 dollars, up 23.8%, and the Brent barrel, a reference for Colombian crude, gained 14.43% to finish at 28.47 dollars. On Wednesday, both reference barrels had one of the worst days in their history, with drops of 24.4% and 13%, respectively. (…) The most traded stocks of the day were the preferred shares of Bancolombia, which fell by 3.42 %, followed by those of the oil company Ecopetrol, which after several difficult days had a rebound of 2.90%. Meanwhile, those that obtained the highest gains of the day were ISA (11.02%), CNEC (9.86%), and GEB (7.44)…
Source: Portafolio
Date: March 20
Headline: Mining and oil companies rethink their socialization activities
To prevent infections from the Covid-19 epidemic (coronavirus), mining and oil companies operating in the country had no choice but to suspend or rethink the socialization tasks of extractive projects. (…) In the same vein, oil companies redirected the socialization of their projects, and the task is being carried out virtually. «We are analyzing how to do them without violating crowd concentration rules, that is, resorting to technology and virtual channels,» a spokesperson for Ecopetrol told Portafolio. In the same vein, the gas company Canacol emphasized that it continues its activities and projects normally and in accordance with the measures taken at the local, regional, and national levels regarding Covid-19. The same is true for companies like Parex, Frontera, Gran Tierra, which are turning to virtual channels for socialization.
Source: El Colombiano
Date: March 20
Headline: Stock market showed slight recovery
After suffering a drop of more than 10 % on Wednesday, the Colcap index, the most important in our stock market, showed an increase of 0.64 %. However, it remained below 900 points. ISA (11.2 %), Canacol Energy (9.86 %), and Grupo Energía Bogotá (7.44 %) were the stocks that rose the most.Source: Vanguardia Liberal
Date: March 20
Headline: Ecopetrol
Ecopetrol issued a statement explaining that the fish mortality in a pond in the Campo 38 village, in the El Centro district, is not associated with the operations of La Cira Infantas.
Source: Vanguardia Liberal
Date: March 20
Headline: Communities of El Llanito and Puerto Wilches, without gas due to illegal valve
According to Ecopetrol's report in recent hours, an act of common crime jeopardized the gas supply to hundreds of families in the area. According to the information provided by the state oil company, the damage occurred in the 12-inch gas pipeline and forced the suspension of gas supply to the residents of the El Llanito district in Barrancabermeja, as well as to the urban and rural sector of Puerto Wilches on Wednesday, March 18, around 6:00 p.m. The residents of El Llanito were slightly less affected, as they would be without service for only 12 hours, while those in Wilches would have to wait between 24 and 48 hours, “due to the complexity of the procedures established for repairing the damage caused to the line,” Ecopetrol sources indicated.
Source: Vanguardia Liberal
Date: March 20
Headline: Virtual assembly
Ecopetrol will hold the Ordinary Meeting of the General Shareholders' Assembly on March 27, 2020, live via streaming through the page www.ecopetrol.com.co and on open television on the Institutional Channel, starting at 9 am.
Source: El Pilón
Date: March 20
Headline: Time to elbow each other. By: José Aponte Martínez
I have been locked up for several days, as Mercy in the best style of Colas Guerra “with a .45 at the door of the house” won’t let me out and I have to wash my hands every 15 minutes and they are raw with the argument that she is still young to be a widow and Pane, Meche, and Macoquito shoot at me from different trenches in the same direction and I think that I am still needed by all of them and for that reason, I follow orders. (…) Already in the United States, Donald Trump ordered to give each citizen in need $1,000, something like 4 million pesos, is it possible that here with the help of Ecopetrol, Reficar, Banco de La República, and other official entities, with the collaboration of Grupo Aval, Sura, Grupo Antioqueño, which I believe is the same, Ardila Lulle, and hundreds of wealthy people hidden in this country could give a little million to the Sisben affiliates for one month’s expenses. I believe so, but with care so that the usual sharp ones don’t sneak in.
Topics
Source: El Tiempo
Date: March 20
Headline: Strong rebound in London and New York
Crude prices recovered part of their losses aided by economic reactivation measures and signs of calm between Saudi Arabia and Russia in their price war. In London, Brent crude rose 14.41%, to $28.47, while in New York, WTI advanced 23.81% and reached $25.22.
Source: La República
Date: March 20
Headline: To maintain employment. By: Sergio Mutis Caballero
We are in a social and public health crisis, which will bring economic consequences. The Government and those who have the capacity to contribute have the commitment to mitigate the crisis. It is a moment of solidarity. Our economy is in check, due to lower activity while we control and combat the pandemic virus, the fall of the markets, the drop in the stock exchange, the abrupt fall in oil prices, and the sudden rise of the dollar. The imbalance is global. It is evident then that our economic activity will have a slower pace, which makes it necessary to continue taking measures to safeguard the functioning of companies and protect employment.
Source: La República
Date: March 20
Headline: The dollar rose 1.4% so far this year and reached 4,153
The price of the dollar in Colombia seems to find no ceiling. This Thursday, the US currency again reached a maximum value by registering an increase of 1.4% to an average negotiation of 4,143. Additionally, during the day, it hit a peak of 4,230 and has already broken that other level. (…) “The good day for oil was not taken advantage of. Despite the recovery of crude due to the possibility that Saudi Arabia could increase its production and that would reduce global impacts. The Colombian peso would have recovered below 4,100 because oil rose, but that did not happen mainly due to the report of the trade balance deficit that continued to expand more than the market expected. That generates and puts the country’s credit rating at risk,” commented the expert.
Source: La República
Date: March 20
Headline: Biden's economic proposals to defeat Donald Trump
At 77 years old, originally from Scranton, Pennsylvania, and former Vice President of the United States, Joe Biden is emerging as the Democratic candidate who will compete with Donald Trump after winning the primaries in Florida, Illinois, and Arizona against Bernie Sanders, who is considering withdrawing from this race. (…) Another of the Democrat's proposals for one of the most important positions on the world stage is to restrict fracking. According to information reported by The Wall Street Journal, “a spokesperson for Biden's campaign clarified that the former vice president would not ban fracking, which is now commonly used to produce natural gas and oil in key states with blue-collar voters like Pennsylvania, Ohio, and Colorado. He was only referring to his stated policy of banning new permits for oil and gas drilling on federal lands and offshore.”.
Source: Portafolio
Date: March 20
Headline: Imports grew 0.61% in the first month of 2020
Colombia's imports grew in the first month of 2020, according to statistics from Dañe based on import declarations registered with the Dian. (…) In the case of imports from the Fuels and Extractive Industries group, these totaled $1,359.3 million and showed a decrease of 15.11%, compared to January 2019, where the products that most contributed to the decline were oil, petroleum derivatives, and related products (-15.81%), which accounted for a 12.0 percentage point reduction in the total variation of the group.
Source: Portafolio
Date: March 20
Headline: Pyrrhic victory. By: Hernán Avendaño Cruz
Amid the uproar of recent weeks due to covid-19 and the oil war, the news of the United States‘ trade balance was buried. It is worth bringing it to light, as it is the central axis of the ’Trumpian' vision regarding the economic relationship between countries and is the foundation of the trade war that harms the world so much. (…) Secondly, as a consequence of fracking, the United States became the world's largest oil producer and, consequently, continued to reduce its purchases from the international market. In 2019, it decreased its hydrocarbon imports by $130 billion, and according to calculations from the U.S. Census Bureau, the trade deficit excluding oil increased by 1.81%.
Institutional
Source: Portafolio
Date: March 20
Headline: There are 2.4 million barrels of fuels in inventory
Regarding reserves and fuel supply in the country, in light of the contingency due to the coronavirus, the Government, through the Ministry of Mines and Energy (MME), outlined a new strategy to ensure supply throughout the national territory. Thus, to leave no stone unturned, MME officials, along with those from the Mining and Energy Planning Unit (Upme), not only reviewed the indicative plans for the supply of liquid fuels and natural gas but also increased production and imports. (…) “The entire chain is prepared to face this crisis and will be working to meet current demand under conditions of continuity and quality,” said Orlando Cabrales Segovia, president of Naturgas.
Source: El Nuevo Siglo
Date: March 20
Headline: The discussion of the law that must regulate the royalty reform would be delayed
The presentation of the bill to regulate the constitutional reform to the General Royalty System, which was approved last December, was scheduled for March 30. However, due to the postponement of the start of ordinary sessions to mid-April, as a preventive measure amid the crisis generated by the spread of the coronavirus, the discussion of this initiative, like others, will have to wait. (…) Decentralization would allow regional OCADs to prioritize those royalties to generate a high impact in the regions when distributing resources, reducing indicators such as poverty, the departmental leader pointed out. (…) An additional 51% will be allocated exclusively to producing municipalities. For example, the Ministry of Mines indicated that if this new distribution were applied with the 2019-2020 biannual budget, direct royalties for these regions would increase from $2 billion to $4.6 billion.
Source: El Colombiano
Date: March 20
Headline: Colombia must turn its gaze to the countryside. By: Rodrigo Álvarez Peláez
Colombia is a country that produces oil. A poor country that produces crude oil sold at a price set by the market, today around thirty dollars a barrel. And then it must be bought refined at the price the exporter says. We produce and export a non-renewable natural resource, increasingly scarce and more costly to extract. Moreover, with the aggravating factor that this process destroys the land where it takes place, harms the environment, ends up with the properties, and pollutes the water. And what about fracking? In a short time, oil will no longer be profitable because it will be scarcer, and more costly to produce, and the market will need less due to the influx of clean energies and electric vehicles. In EL COLOMBIANO on March 8, Dr. Amylkar Acosta, economist and former Minister of Mines and Energy, wrote that the economic and fiscal stability of the country is at stake, that oil and gas reserves are falling. He was defending fracking.
Colombian Association of Oil and Gas