ACP as a source of information
Source: La República – National
Date: June 01
Headline: Andi Appeals for the Unity of All Sectors
In order to channel the efforts of the private sector, the National Association of Entrepreneurs of Colombia (Andi), through its Foundation, launched the initiative ‘United We Are a Greater Country’, with which it is coordinating the solidarity measures of the different sectors and companies linked to the association in seven strategic lines. “The solutions to the current situation must stem from the solidarity work among all: State, citizens, companies, and workers, which is why we launched the initiative ‘United We Are a Greater Country’, which is purely about solidarity,” explained Bruce Mac Master, president of Andi. Logo ACP. It was replicated in:larepublica.co (June 01).
Source: El Nuevo Siglo – National
Date: June 01
Headline: Oil Companies Request More Relief on Crude Transport Rates
Although they accept the agreement for a subsidy of 50% of the rates with the Government, crude producers believe that these reliefs should be increased due to the high cost they currently have to face for the service. This request is a reaction to what Ecopetrol reported, that the oil transport companies through pipelines in Colombia reached agreements with producers and traders on significant reliefs in the rates. (…) Initially, Cenit and its subsidiaries had offered financing for the months of May and June, but after multiple conversations with the shippers, it was agreed to extend this relief for four more months. (…) The ACP indicates that it has requested the Ministry of Mines and Energy to, “in exercise of its powers contemplated by the Petroleum Code, intervene in the transport rates through pipelines, issuing a resolution that restores an economic balance in the hydrocarbons sector during this period of low prices, as a measure to help mitigate the current crisis.”.
Source: El País – Regional
Author: Francisco José LLoreda Mera
Date: May 31
Headline: Adjusting the Strategy
A difficult task for the National Government to decide, every so often, whether to extend the quarantine or not and which economic activities to authorize to operate and under what restrictions. A task made more difficult by the growing despair caused by the economic and social impact, by the back-and-forth of governors and mayors, and by the prolonged confinement of some groups of the population who feel their citizen rights have been curtailed. (…) Very different are the criticisms from those who seek to wash their hands and their incompetence in the face of the virus's spread, knowing that the peak is coming in June. But it is not advisable to keep half the country in quarantine for longer. It is time to adjust the strategy: to focus on protocols and self-care. It was replicated in: elpais.com.co (May 31).
Source: corrillos.com.co – Regional
Date: May 31
Headline: Cenit extends relief plan on tariffs for crude oil transportation by pipelines
Cenit, a subsidiary of Ecopetrol, announced that it agreed with producers to extend financing for crude oil transportation tariffs through three of its pipelines for up to six months to mitigate the impact of the crisis due to falling prices and the coronavirus pandemic. Central Pipeline (Ocensa), Colombia Pipeline (ODC), and Eastern Plains Pipeline (ODL) agreed with some producers on financing schemes of 50% of the tariff for up to six months, which also include specific grace periods for each company. (…) The Colombian Petroleum Association (ACP) requested the Government at the end of April to intervene in the transportation tariffs by the pipelines and considered that the relief plan initially offered by Cenit only deferred costs for producers.
Source: El Tiempo
Date: May 30
Headline: Payment deadlines extended for oil companies
Without the participation of the ACP union, the firm Cenit, a subsidiary of Ecopetrol and its companies agreed with some oil producers to finance 50% of the crude transportation tariff for 6 months. Additionally, discounts on tariffs ranging from 6 to 21% were added depending on the segment and the volume of crude transported.
Source: La República – National
Date: May 30
Headline: Oil companies reach agreement on pipeline tariffs
After the Colombian Petroleum Association (ACP) alerted a couple of weeks ago about the high costs of pipeline tariffs, the producing and transportation companies reached an agreement aimed at providing relief to reduce costs and the impact of covid-19. After several negotiations, Cenit, Ocensa, Colombia Pipeline, and Eastern Plains Pipeline agreed with some shippers on financing schemes of 50% in the tariff for up to six months. This is assistance for oil companies to continue operating normally, as in some cases grace periods have already been negotiated. “The Ministry of Mines and Energy considers the commercial agreements on pipeline tariffs agreed bilaterally between oil producers and transporters to be timely and positive. The hydrocarbons sector is fundamental for the economy and development of the country, and the National Government reiterates its commitment to continue promoting its reactivation,” explained Diego Mesa, Deputy Minister of Energy. larepublica.co (May 30).
Source: Semana – National
Date: May 30
Headline: Who was to blame?
As if the oil sector didn't have enough with the drop in prices, now a tough controversy over pipeline tariffs is added. Who is right? The oil industry is going through, like many other sectors, the worst moment in its history: low prices, falling demand, and war among producers are the traits that define the landscape of this market today. (…) But this year, in light of the widespread crisis, the Colombian Petroleum Association (ACP) asked the Government to intervene in the tariffs. Francisco José Lloreda, president of the guild, says that it is unjustifiable for the price of using the pipes to transport crude to the ports on the coast to be on average between 7 and 15 dollars in Colombia, when in other countries this same item is between 2 and 5 dollars. (…) But the owners of the pipelines think differently, who raised alarms when the president of the National Hydrocarbons Agency, Armando Zamora, announced that the Government would eventually be considering the possibility of intervening these prices. semana.com (May 30).
Source: dataifx.com – National
Date: May 30
This Friday, the Colombian Petroleum Association (ACP) classified as positive the agreement reached by some private oil shipping companies with the pipeline transport companies owned by Ecopetrol, through Cenit and its subsidiaries. The guild pointed out that 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 adhered to them and include improvements in the conditions compared to those announced a few weeks ago, among other particular negotiations within the framework of the contracts that each company has with the transporters.
GREMIO
Source: La República
Date: June 01
Headline: The green wave in Wall Street indices did not reach the region
After accumulating several days in the red, the main stock indices in the United States have recorded a strong recovery in the last month, leading analysts to anticipate a new phase of prosperity in the markets and to say that Wall Street could register new highs despite the crisis it faces due to covid-19. (…) The last week for the markets was marked by the nervousness caused by a possible reactivation of the trade war between the United States and China. However, most indices managed to end the week in positive territory. For example, the Ibex 35 (rose 6% at Friday's close) managed to approve the last trading day of the month thanks to the performance recorded by MásMóvil (2,80%), Cellnex (2,68%), and Grifols (2,53%). Meanwhile, Sabadell (-8,98%), IAG (-7,30%), and Repsol (-5,64%) were the stocks that fell the most at the close, according to information published by Expansión.
Source: La República
Date: June 01
Headline: El Cóndor and Avianca, the ones that reduced revenues the most
The economy is experiencing an unprecedented crisis that has left companies navigating in uncertainty, as they do not know what will happen, nor the exact impact this will have on their operations, as it was thought that the impact of covid-19 would not be perceived in the results of the first quarter of the year, but the figures show otherwise. (…) The state oil company also saw negative effects during the first quarter, although it could be said that the contraction was not much, as Ecopetrol went from billing $15.94 trillion to $15.07 trillion, which meant 5.5% less compared to what was presented between January and March of last year.
Source: El Nuevo Siglo
Date: June 01
Headline: Oil spill after attack
Two new attacks against the Transandino pipeline, at the height of the Nembí village in the municipality of Barbacoas, were confirmed by the authorities of Nariño, prompting Ecopetrol with its hydrocarbon transport and logistics subsidiary Cenit to activate a contingency plan in the area. According to a statement from that entity, one of the explosions caused dents in the pipeline and the other generated a rupture of the pipe that affected several nearby properties and the Nembí creek that flows into the Güiza river. So far this year, eleven attacks against the Transandino Pipeline have been recorded.
Source: El Nuevo Siglo
Date: June 01
Headline: Ethanol producers continue the «battle» against imports
The president of Fedebiocombustibles, Jorge Bendeck, points out that imports of the product arrive subsidized, an advantage that national production does not have. The Government's decision to raise the tariff to 13.21% on imports of ethanol from the United States has worried national producers, as this value, which is equivalent to US$1.04646 per kilogram, does not balance the distortion of the internal price. The president of Fedebiocombustibles, Jorge Bendeck, told EL NUEVO SIGLO that although they accept the Government's decision, it does not compensate for the imbalance they currently have in the Colombian market. (…) The national industry has 6 plants that belong to sugar mills, which are located in Valle, Cauca, Caldas, and Risaralda. Additionally, in 2017, Bioenergy began operations, a distillery that belongs to Ecopetrol.
Source: La Opinión
Date: June 01
Headline: Agreement reached for pipeline tariffs
After several negotiations, Cenit, Ocensa, Oleoducto de Colombia, and Oleoducto de los Llanos Orientales agreed on financing schemes of 501% in tariffs for up to six months. This is assistance for oil companies to continue operating normally during the pandemic.
Source: El Tiempo
Date: May 31
Headline: Arturo Calle's path to face adversity
Despite the mandatory halt that occurred with the start of the quarantine, Arturo Calle, the renowned Colombian company dedicated to clothing manufacturing, has seen the crisis as an opportunity to broaden its scope and meet the demand of its customers. (…) This is how it launched a joint operation with the Ecopetrol Group and Bio Bolsa, in order to manufacture 147,000 protective suits for healthcare personnel. The input for the medical supplies was donated by Esenttia, and this raw material was delivered to Bio Bolsa, which transformed it into 330,000 meters of non-woven fabric.
Topics
Source: El Tiempo
Date: June 01
Headline: Should the country go into debt with fear?
Former Vice President Germán Vargas Lleras questioned in his column in EL TIEMPO eight days ago, titled ‘The aid for the needy’, the economic management of these 50 days of quarantine. He says that more than promises are needed… (…) Peru issued a bond, we did not want to issue it at that time for two reasons: first, because at the moment Peru issued it, we were facing the problem of not knowing where the oil market was heading. We were closely associated with it and they would have charged us too much. At this moment, we already have the process underway to enter the bond market. Second, Peru requested a larger sum from the International Monetary Fund than we did, as we went to the normal window, which, basically, to put it in technical terms, lends us 400 percent of our quota.
Source: El Espectador
Date: June 01
Headline: Will it be Duque's responsibility to make major reforms? By: Álvaro Forero Tascón
At the beginning of this government, I wrote a column («Duque the executor») stating that Iván Duque would not be a reformist president. (…) Because he is not by temperament, nor had he promised major reforms, nor is his party reformist (it is counter-reformist), nor did he have a political coalition to do so, nor had he appointed a cabinet with great ideas. Because he received a country that had greatly reduced poverty and violence in the last two decades, and had overcome the economic crisis from the fall in oil prices. Because his victory had not granted him a strong political mandate, as millions had voted more out of fear of Petro than for a program. And because he had been assigned a historical period of transition and not change, as the political system was finally emerging from the anti-communist anachronism of the old Cold War.
Source: El Tiempo
Date: May 31
Headline: And what else is happening? By: Moisés Naím
Covid-19 is the most important thing happening to us. But other things are also happening that, while not reaching the scope and consequences of the pandemic, reveal global trends that will affect us all. (…) A lot of oil. In these times, there are not only too many locusts in the world, but there is also too much oil. With economies shut down, half of the formal workers in the world at home, and transportation severely restricted, oil consumption has plummeted. Amy Jaffe, an energy policy expert, estimates that the excess oil accumulated in 2020 could exceed one billion barrels. That crude needs to be stored, and the existing capacity in the world regarding tanks on land and tankers to hold idle inventory is reaching its limit. Thus, today oil is at its lowest price in the last 18 years.
Source: Portafolio
Date: May 30
Headline: Daily crude oil production falls
The downward variation in the international price of crude oil and the Covid-19 pandemic are taking a toll on production. As of May 15, oil fields in the national territory would only be pumping an average of 700,000 barrels per day.
Source: dataifx.com
Date: May 30
Headline: Canacol postponed its shareholders' meeting until July 10
The Canadian company Canacol Energy reported that it decided to change the date of its Annual and Special General Meeting of Shareholders from June 30, 2020, to July 10, 2020, due to circumstances arising from Covid-19 worldwide. “The organization must ensure that all necessary information to carry out the Meeting is available as well as ensure the presence of its invitees, this within the applicable Canadian laws and regulations. Likewise, it is allowed to inform that the dates for Determination of Beneficial Ownership, Registration to Vote, and Notice Registration were not modified and remained on May 21, 2020,” the company explained.
Source: prensalibrecasanare.com
Date: May 30
Headline: Relief in crude oil transportation rates in Colombia
Oil transportation companies by pipeline in Colombia reached several agreements in recent days with producers and traders regarding significant relief in rates. The agreements help oil companies to have immediate facilities to mitigate the impact of the crisis arising from the abrupt drop in crude prices and the Covid-19 pandemic. After discussions and negotiations, Cenit Transporte y Logística de Hidrocarburos S.A.S, Oleoducto Central S.A. (OCENSA), Oleoducto de Colombia S.A. (ODC), and Oleoducto de los Llanos Orientales S.A. (ODL) agreed with some shippers on financing schemes of 50% of the rate for up to 6 months, which also include specific grace periods for each company. Initially, Cenit and its subsidiaries had offered financing for the months of May and June, but after multiple dialogues with the shippers, it was agreed to extend this relief for 4 more months.
Source: eje21.com.co
Date: May 30
Headline: Crude oil producers and transporters in Colombia agree on relief in transportation rates
Oil transportation companies by pipeline in Colombia reached several agreements in recent days with producers and traders regarding significant relief in rates. The agreements help oil companies to have immediate facilities to mitigate the impact of the crisis arising from the abrupt drop in crude prices and the Covid-19 pandemic. After discussions and negotiations, Cenit Transporte y Logística de Hidrocarburos S.A.S, Oleoducto Central S.A. (OCENSA), Oleoducto de Colombia S.A. (ODC), and Oleoducto de los Llanos Orientales S.A. (ODL) agreed with some shippers on financing schemes of 50% of the rate for up to 6 months, which also include specific grace periods for each company.
Source: El Frente
Date: May 29
Headline: Colombia's finances will end up exhausted amid the pandemic
It is impossible to quantify the economic cost of the universal pandemic that touched the heart of Colombia, causing terrible consequences for the country's finances, which were in full recovery. It was believed that this year we would achieve an economic growth of 3.51%, much higher than that of other Latin American countries, which at that time were showing negative signs, such as Venezuela and Brazil. Until February of this year, the government of President Iván Duque Márquez radiated optimism due to the growth of oil exports that were at a very good price, along with coffee and cocoa exports, with the surprising influx of foreign currency from drug trafficking laundries, which also have undeniable effects on the country's monetary flow.
Institutional
Source: El Pilón
Date: May 30
Headline: ‘Give us the opportunity to manage our natural resources’: Secretary of Mines of Cesar
Authorities of the department of Cesar spoke out to demand from the national Government for the centralist management that the Ministry of Mines and Energy gives to the mining-energy processes established in this department and those anticipated for the future. (…) There are several companies applying to carry out fracking in Cesar and participate in the pilot projects, including Conocophillips, Drummond Energy, and Ecopetrol. These pilots will generate discussion spaces. These two projects would impact, first, in the Magdalena Medio Basin that encompasses five municipalities in southern Cesar and, second, in the Cesar-Ranchería basin where several municipalities are integrated, including some districts of Valledupar. Although in the departmental administration they recognize that the authorities in this regard are the Ministry of Mines and Energy and the national agencies, they do not want these processes to be carried out behind the back of Cesar and its communities.
Source: prensalibrecasanare.com
Date: May 30
Headline: Campetrol opened its doors to energy service companies
In the framework of the general assembly of Campetrol affiliates, which took place virtually on Thursday, May 28, a change in the Chamber's statutes was approved that now allows it to open its doors to energy service companies. This represents a milestone for the guild, with 32 years of experience representing companies in the oil goods and services sector in the country, considered the backbone of the industry for their contributions in innovation and technology. Today, the guild has 117 affiliated companies. (…) In Colombia, the National Government expects that by 2030, at least 12% of the energy matrix will be composed of non-conventional renewable energies (solar, wind, geothermal, and biomass, among others). In addition, the Ministry of Mines and Energy has estimated that $7.5 trillion pesos will arrive in the country with the incorporation of these non-conventional renewable energy sources.
Source: BLU Radio
Date: May 29
Colombian Association of Oil and Gas