ACP as a source of information
Source: prensalibrecasanare.com – Regional
Date: April 06
Headline: Casanare faces Covid-19
The Department is preparing for the management and care of patients positive for Coronavirus, after, since the beginning of the health emergency, the different work fronts were articulated and the measures to be developed for the prevention and containment of the virus were directed. The adaptation of the field hospital in an external area of the Hospital Regional de la Orinoquía HORO is progressing, to expand the installed capacity of the care center, which will attend to the more complex cases of patients infected with the virus. (…) Last week, the donation of more than 18 thousand protection and biosecurity items was achieved, contributed by the hydrocarbon companies grouped in the Asociación Colombiana de Petróleo ACP, which were delivered to the Hospital Regional de la Orinoquía to safeguard the lives of the healthcare personnel responsible for the management and care of COVID-19 positive patients.
Source: prensalibrecasanare.com – Regional
Date: April 06
Headline: Protection items donated by the ACP are distributed in Yopal for health personnel
Over the weekend, the distribution of protection and biosecurity items was carried out in healthcare centers in Yopal to reduce the risk of Covid-19 contagion among healthcare personnel. Among the donated items are highlighted, fluid-resistant masks, complete surgical fabric suits, N-95 masks with filters, goggles, sealed equipment, and two spraying chambers for disinfecting medical personnel. (…) The delivered items are part of the items donated by the Asociación Colombiana del Petróleo ACP and the company Ferre Aguas Asociados and engineer Juan Pablo Ávila, responsible for the design and production of the disinfection equipment.
Source: El País – Regional
Author: Francisco José Lloreda
Date: April 05
Headline: An irresponsible proposal
Since the threat of the expansion of Covid-19 became known, the days have not been easy, including for those who hold high public responsibility positions. The situation of widespread global confinement with specific exceptions and the abrupt impact on social customs and economic relations is unprecedented. And it is up to them to try to get the measures right and guide the country through the storm. In that group are the president, governors, and mayors on the front line. They have been elected to govern, and it is natural for the country and citizens to look to them for answers. It was echoed in: elpais.com.co (April 05).
Source: prensalibrecasanare.com – Regional
Date: April 04
Headline: Oil companies donated about 18 thousand protection items for medical personnel in Casanare
Private companies in the oil and gas industry, with a presence in Casanare, joined efforts to donate more than 18,000 units of various protective items for the medical staff of the department, under the leadership of the Colombian Petroleum Association (ACP). These include surgical masks, thermosealable suits with A40 and A60 hoods, medical masks with respirators (N95), eye protection goggles, face shields, sterile gloves, fluid-resistant shoe covers, and disposable surgical caps for the medical staff of the different municipalities in the department. (…) The delivery of these items, which began on Saturday, March 28, and extended until this week, was made possible thanks to the contributions from Cepsa Colombia, Colombia Energy, Emerald Energy, Frontera Energy, Geopark Colombia, Gran Tierra Energy, Hocol, Parex Resources, Perenco Colombia Limited, Vetra Exploration and Production, and Las Quinchas Resources, companies that operate in the department.
Source: violetastereo.com – Regional
Date: April 04
Headline: The oil industry donated protective items for medical staff in Casanare
The more than 18,000 units of various items will be distributed at the care points defined in the departmental action plan, taking into account the needs of each municipality. (…) The donation was made by the companies that operate in the department; Cepsa Colombia, Colombia Energy, Emerald Energy, Frontera Energy, Geopark Colombia, Gran Tierra Energy, Hocol, Parex Resources, Perenco Colombia Limited, Vetra Exploration and Production, and Las Quinchas Resources, under the leadership of the Colombian Petroleum Association (ACP). (…) «We thank the companies that, through the Colombian Petroleum Association, have sent us a donation of these items, which will allow us to address the pandemic in the department. These items are to safeguard the lives of our heroes: the medical staff,» stated Governor Salomón Sanabria.
Source: oilchannel.tv – Regional
Date: April 03
Headline: All companies are operating at a loss: ACP
So far this year, the price of oil has dropped, according to estimates, by 60%, and last week it fell below the barrier of US $20 per barrel in its WTI reference, (…) El Nuevo Siglo spoke exclusively with the president of the Colombian Petroleum Association, Francisco José Lloreda, who made serious statements such as: “no barrel of oil is profitable in Colombia.” Oil Channel presents the interview. (…) FJLL: All economic sectors are in serious difficulties. This is no exception, although in this case the main factor of the crisis is the very low prices. For the past few weeks, we have been reviewing measures with the Ministry of Mines and Energy and the National Hydrocarbons Agency (ANH), among other entities. A key, definitive issue is the cost of transportation through pipelines. (…) FJLL: Ecopetrol has already announced that it will reduce its investment program by US$1.200 million. I have no doubt that the investment in the exploitation of private companies, which is US$700 million, will be affected.
GREMIO
Source: La República
Date: April 06
Headline: Analysts estimate that the exchange rate will remain above $4.000
After nearly three weeks in which oil prices had more days of declines than increases, last week both WTI and Brent barrels recorded weekly gains of over 30%. After U.S. President Donald Trump announced on Thursday that Saudi Arabia and Russia are close to reaching an agreement to reduce their production and stabilize crude prices, the price of oil halted its decline, which had a positive effect on the exchange rate, which retreated and closed the week with an average price of $4.008,74. (…) On the equity market side, on average, the analysts consulted expect the Colcap to reach 1,107 units. On Friday, it closed at 1,127.55 units, with a recovery in the Ecopetrol stock.
Source: La República
Date: April 06
Headline: Sincerity of the Fiscal Rule. By: Sergio Clavijo
The Government recently called a meeting of the Fiscal Rule Committee, which includes the participation of two new and talented members: Junguito (replacing Perry, r.i.p.) and Córdoba (replacing Steiner). The arrival of these new members, as well as the global pandemic situation, should serve to proceed with a sincerity (but not abolition) of said Fiscal Rule. (…) If that factual evaluation were to be conducted, the following would likely be found: (…) ii) the criteria for setting the so-called price-oil gaps have been altered (…) The most probable scenario is that we will have a deterioration of no less than 4% of GDP in the stock of gross debt during 2020-2021, thus: i) revenue will fall from 14% to 13% of GDP; ii) capital transfers from companies like Ecopetrol will fall from 2% to 1% of GDP; iii) it will be necessary to repay the FAE-Fonpet another 2% of GDP.
Source: vanguardia.com
Date: April 06
Headline: «Joining forces is the only way to move forward»: Genny Sarmiento, social manager of Santander
Being supportive of the most vulnerable communities during this time of mandatory preventive isolation is the call from the Government of Santander. “We will get through this together” is the social campaign led by the public and private sectors of the region to collect aid for the most vulnerable people affected by the social impact of COVID-19. The Social Manager of Santander, spokesperson for the departmental government in this initiative, guides the community on how they can collaborate. (…) “We will get through this together” has the support of Camacol Santander, Vanguardia, Chamber of Commerce of Bucaramanga, (…) The Communers Hospital Universitario de Bucaramanga, Clínica Chicamocha, Fenalco Santander, Hospital Universitario de Santander, Fundación Banco Arquidiocesano de Alimentos, Ecopetrol, PVS Agencia, Y2D, Sena, Government of Santander, Mayor's Office of Bucaramanga, and the Metropolitan Area.
Source: laguajirahoy.com
Date: April 06
Headline: With more than 2.4 billion pesos, Ecopetrol-Chevron will support La Guajira.
To strengthen access to basic health services, personal protective equipment, and food assistance for vulnerable communities in the department of La Guajira as part of its commitment to face Covid-19 in the department, the Guajira association of Ecopetrol-Chevron announced. In addition to this announcement, the company will continue its traditional social investment actions, delivering more than 600,000 liters of drinking water to remote communities and has focused on the additional delivery of food aid for about 1,000 families in vulnerable situations together with Fundación Éxito and the Food Bank of La Guajira. (…) It specified that the partnership between Ecopetrol and Chevron has been an integral part of La Guajira for more than four decades and wants to reiterate its commitment and support for the communities of this great department in these very complex times for all humanity.
Source: Forbes.co
Date: April 06
Headline: Is Colombia prepared for the global recession?
The effect of the coronavirus on markets and the global economy would already be strong enough that oil prices do not rise much higher than their current levels if OPEC+ reaches an agreement soon. (…) For Colombia, the effect is not only a known shock from the reduction in oil prices, which is its main export product. Market volatility, as already mentioned, also affects public debt - the product of which the Government uses to meet its obligations such as social spending - so the Ministry of Finance also made its announcements. (…) On the other hand, the drop in oil prices will have its greatest effect in 2021 when companies in the sector must pay taxes on the lower income left by crude oil production in 2020 and Ecopetrol delivers fewer dividends, as well as a higher exchange rate given the lower income of dollars to the economy, among other effects.
Source: El Tiempo
Date: April 05
Headline: Layoffs reported amid the crisis in the regions.
The first two weeks of confinement have already left hundreds of layoffs in different sectors of the economy. (…) «They are outsourced workers located in the refineries and oil fields of Magdalena Medio, totaling between six thousand and seven thousand layoffs,» says Edwin Palma Egea, leader of the USO. In Meta, the union also reports the dismissal of at least five thousand workers from the oil industry. «Even though Ecopetrol has treated its directly linked workers well, contractor companies in the municipalities of Castilla La Nueva, Acacías, Guamal, Villavicencio, and Puerto López have laid off workers, who are left without salaries and without the right to social security,» said Camilo Acero, director of legal affairs of the USO.
Source: Vanguardia Liberal
Date: April 05
Headline: We will only get through this together.
When the arrival of COVID-19 forced us to stay home, fear and uncertainty became the prevailing feelings among all Colombians. As the days went by, each person began to adjust their life to this new pandemic reality, and each new dawn is a constant challenge. (…) Prosantander, the Regional Competitiveness Committee, Ecopetrol, the Archdiocesan Food Bank, and Vanguardia, with the support of the agencies Pvs and Y2D, among many others, have joined in a single campaign to raise funds and work on these three fronts: providing rapid tests to detect the coronavirus and obtaining basic medical supplies; delivering food to those in greatest need and providing these same items throughout the region.
Source: La Crónica del Quindío
Date: April 05
Headline: To face the severity of the pandemic. By Antonio José Gutiérrez Blanco.
No one can deny the severity of the coronavirus pandemic that causes the disease known as COVID19 and that the world was not prepared to face it. (…) Robledo proposes 5 sources of funding: 1. Rely on the profits of Ecopetrol, Banco de la República, and ISA and redirect the use of royalties from territorial entities towards the emergency. 2. From Colombia's international reserves, about 53 billion dollars, take a significant amount to address the urgent needs of the situation.
Topics
Source: El Tiempo
Date: April 06
Headline: Eternit recycles to make its sustainable products.
With its operations halted due to the coronavirus quarantine, the management of Eternit, a Mexican company that has been in Colombia for 78 years, hopes that this situation will soon be overcome to resume its transformation plans initiated five years ago, which involve changes in its production processes through the use of more environmentally friendly raw materials. (…) How much does the spike in the dollar impact them? It’s crazy and we have to react with prices because we are talking about a dollar hovering around 4,200 pesos, which is a very strong impact for any company. Some of our raw materials (plastic resins) that depend on oil are arriving more expensive, but due to the rise of the dollar, not because of oil prices, which take longer to react, and that forces us to adjust prices in the market to protect profitability.
Source: El Tiempo
Date: April 06
Headline: What is the legal situation in times of coronavirus?
The legal secretary of the Palace, Clara María González, explains what decrees have been taken as emergency measures, how the Constitutional Court has been monitoring, and outlines the legal bases for the virtual sessions of Congress. (…) And the third? The Court asked us about the impact of the fall in oil prices and the dollar, amid the coronavirus crisis, on each of the sectors of the Colombian economy. And what did the Ministry of Finance respond? That it is not possible to measure the impact of the budget deficit by economic sector generated by the pandemic. An analysis of this nature requires a period of technical work that must be developed in the coming months.
Source: El Espectador
Date: April 06
Headline: It is not a time for economic orthodoxy. By: Salomón Kalmanovitz
It is not a time for fiscal or monetary balance. On the contrary, it is time for the Banco de la República and the Ministry of Finance to take drastic measures that provide gigantic resources so that the State can act on all necessary fronts in this war against the pandemic, which is wreaking havoc on the economy. Minister Carrasquilla accumulated 1.4% of GDP in resources from territorial pensions and oil savings without recognizing interest. It is not serious if he eventually returns the money. What is serious is the meanness of his policy. The government of the United States will spend 10% of GDP to combat the coronavirus, while Germany will allocate 20% of its product to contain it and reactivate its economy.
Source: La República
Date: April 06
Headline: The economy closes the quarter with bittersweet data.
The year that was expected to be the consolidation of GDP growth started with good signs but was halted by the oil crisis and, above all, by Covid-19. This year began showing a positive dynamic in terms of productivity and was in line with expectations that this would be the year of consolidation of economic growth, as was anticipated since 2019. (…) On the other hand, in terms of exports, these increased in January and February - the latest available figure - rising from US$16.249 million to US$16.438 million, with a positive variation of 31%. In fact, external sales of fuels grew 8.21% compared to the same period in 2019, and those of agricultural products increased 4.51% (…) Additionally, oil fell to US$22 per barrel, which means that oil revenue would lose almost 16 billion, and that the current account deficit would increase this year if this continues.
Source: El Colombiano
Date: April 05
Headline: Tensions between the U.S. and Venezuela. By: Alejo Vargas Velásquez
It has always been said that great powers have no friends but interests, and this is an important maxim to understand behaviors in international politics. (…) This would show the classic combination of “stick and carrot” by the USA and seems to strengthen the second version circulating in the United States, which is that everything is aimed at “softening” Russia's position on the oil issue. That is to say, that in light of the fall in oil prices due to the standoff between Saudi Arabia and Russia, which affected. Therefore, the question is what is the northern power of America seeking? And it is evident that the issue is related to the ongoing reconfiguration of international architecture. Everything indicates that the real motive has to do with energy sovereignty.
Institutional
Source: La República
Date: April 06
Headline: Regions will be able to use royalties to address the current emergency
In response to the health and economic crisis the country is facing, the Ministry of Mines and Energy stated that direct approval of investment projects with royalty resources by the territorial entities benefiting from direct municipal and departmental allocations and from 40% of the Regional Compensation Fund has been enabled. «The royalties generated by the mining and energy sector are a fundamental source of resources for the execution of works and projects that benefit communities. This decision by the National Government seeks to facilitate and expedite the investment of resources in the regions to address the events that led to the declaration of emergency due to Covid-19,» said the Minister of Mines and Energy, María Fernanda Suárez.
Source: La Opinión
Date: April 05
Headline: Morelli lost
Definitely, the Minister of Mines and Energy, María Fernanda Suárez, outplayed the former governor of Norte de Santander, Luis Miguel Morelli Navia. Doctor José Armando Zamora is once again at the helm of the presidency of the National Hydrocarbons Agency. He was the minister's candidate, not Morelli. There are disciplinary and fiscal responsibility processes against Doctor Zamora in the Attorney General's Office and the Comptroller's Office.
Colombian Association of Oil and Gas