Financing agreements help, although they do not solve the structural problem of the high cost of transportation tariffs by pipelines: ACP

The Colombian Petroleum Association (ACP) positively records the agreement reached by some private oil shipping companies with the pipeline transportation companies owned by Ecopetrol, through Cenit and its subsidiaries.

Undoubtedly, the difficult situation of the companies operating in Colombia, which is manifested in the closure of wells and fields and in the dizzying drop in production in recent months, has led some private companies to accept the terms of a new financing offer from the transporters, which is expected to provide relief in this situation.

The agreements represent payment relief for the companies that accepted them and include improvements in the conditions compared to those announced a few weeks ago, among other specific negotiations within the framework of the contracts that each company has with the transporters.

Although the agreements are positive in the short term, the ACP reiterates that it will continue to work hand in hand with the Government and the companies to reduce the cost of transportation by pipelines and correct the tariff methodology to prevent users from continuing to pay excessive rates that undermine Colombia's competitiveness in attracting investments in exploration and production, necessary for the sustainability of the hydrocarbons sector in the medium term.