ACP as a source of information
GREMIO
Source: La Opinión
Date: July 14
Headline: Ecopetrol will support families with bill payments
The Ecopetrol Group, through its companies Cenit, Oleoducto de Colombia, and Ecopetrol S.A., will allocate $3.600 million to support the payment of electricity bills for the most vulnerable Colombian families who have seen their incomes impacted by the COVID-19 pandemic. The contribution will be made through the initiative ‘Comparto Mi Energía’, backed by Decree 517 of April 4, 2020, from the Ministry of Mines and Energy, which seeks for individuals and legal entities to help low-income families meet their obligations for the provision of electricity service.
Source: Vanguardia Liberal
Date: July 14
Headline: Time is running out to claim solidarity contribution
Although more than 30,000 heads of households have already approached to claim the solidarity contribution granted by Ecopetrol to alleviate the economic crisis caused by the coronavirus pandemic, 5,000 people are still pending to complete the process. (…) “A total of $5.800 million was allocated, distributed among more than 30,000 heads of households, but to date only 83% of the beneficiaries have claimed the contribution and $800 million remains to be delivered,” authorities reported.
Source: La Opinión
Date: July 14
Headline: Evaluating progress of the metropolitan aqueduct
Generating actions that guarantee the viability of the Cúcuta Metropolitan Aqueduct project, which seeks to expand service coverage reaching more than one million inhabitants of the metropolitan area, were the conclusions drawn from the extraordinary assembly held at the Governor's office. (…) The project is the sum of the economic and technical efforts of entities such as Ecopetrol, the Ministry of Housing, City and Territory, through the Vice Ministry of Water and Basic Sanitation, the Governor's office of Norte de Santander, and the Metropolitan Public Services Company.
Source: El Meridiano de Sucre
Date: July 14
Headline: For the river
Ecopetrol will allocate 2,312 million pesos for the navigability of the Magdalena River. These resources are intended for dredging at critical points.
Source: caracol.com.co
Date: July 14
Headline: Report police harassment during the march for dignity
Authorities did not allow marchers to advance in vehicles and from the Lizama sector in Barrancabermeja they had to walk to Bucaramanga. About 100 people left Barrancabermeja in the march for dignity, where alleged harassment occurred upon entering Bucaramanga, where the police prevented them from reaching the city for violating the quarantine. (…) Finally, they managed to reach Bucaramanga where a rally will be held outside Ecopetrol at the Chimitá plant at six in the morning.
Topics
Source: La República
Date: July 14
Headline: Economic growth 2020 and its risks. By: Joel Virgen Rojano
The economic outlook is still very uncertain. The pandemic and the collapse of oil prices have put the world in uncharted territory. In this context, recessionary forces are active and without historical reference to base robust hypotheses on the possible depth of these. (…) The above is associated not only with its economic structure and degree of sensitivity to the external environment but also with the favorable initial conditions with which it received the pandemic and energy shocks. This also takes into account the iterative effort in fiscal and monetary policy.
Source: La República
Date: July 14
Headline: The dollar reached $3.617 awaiting economic data from the U.S.
In yesterday's session, the dollar price started lower and approached $3.600. However, by midday it recovered and, with a slight increase of $1.50, it was quoted on average at $3.617.25. (…) Oil fell due to the pandemic's advance. Crude prices dropped 1% due to the record daily increase in covid-19 cases worldwide and a rise in infections over the weekend in the United States, which generated fears of new lockdowns in the country, along with the growing tensions between Washington and Europe with China. According to the latest Reuters closing, international Brent, a reference for the Colombian market, lost 1.2% to US$42.72 per barrel, while West Texas Intermediate in the United States (WTI) fell 1.1% to US$40.10 per barrel.
Source: El Colombiano
Date: July 14
Headline: Despite measures, gasoline shortage persists
Despite the arrival of five ships from Iran with 1.5 million barrels of gasoline and supplies to try to reactivate the paralyzed Venezuelan refineries, gasoline distribution remains stalled. The situation replicates across the country, especially at the border, which faces chronic shortages.
Source: El Informador
Date: July 14
Headline: Duque announces that the price of gasoline drops $1.200 per gallon
In 13 major cities, fuel prices will drop, settling at 7,950 pesos per gallon. Meanwhile, diesel will decrease by $800, placing it at $8.150 per gallon. Amid the emergency due to coronavirus across the country, President Iván Duque announced via his Twitter account that the price of gasoline in the 13 main cities will be reduced by $1.200 per gallon, setting it at $7.950, and diesel will decrease by $800 per gallon, placing it at $8.150. This is one of the new measures issued by the National Government amid the crisis triggered by the spread of coronavirus in various parts of the national territory. (…) This is the first time in Colombia that the price of gasoline and ACPM has dropped significantly, said the president of Fedispetrol, Álvaro Younes, who explained that the measure was not consulted by the national government.
Institutional
Source: El Tiempo
Date: July 14
Headline: Ecopetrol provides relief on energy bills
Through the initiative of the Ministry of Mines ‘I Share My Energy’, the Ecopetrol Group will allocate 3.600 million pesos to provide relief on the electricity bills of vulnerable households across the country; with the initiative, about 30,200 families from strata one and two will achieve relief for billing in the months of July and August.
Source: El Tiempo
Date: July 14
Headline: ‘We are not going to turn our backs on coal,’ says the new Minister of Mines.
Although one of the main goals of the new Minister of Mines and Energy, Diego Mesa, is sustainable reactivation with the energy transition as one of its axes, this does not mean that the country's oil and gas potential will become a secondary issue, and in this sense, the main card the country has in this matter is the development of the offshore oil industry, combined with unconventional reserves (fracking). (…) We have five contracts with major companies, such as ExxonMobil, Shell, which brought in Noble Energy, an American company but very well-known for developing the Leviathan field in Israel and turning it from a net gas importer to one of the main exporters in the Mediterranean in record time; Repsol, which also has significant experience, and Ecopetrol itself. So there is a very big opportunity. Apparently, there is gas potential in addition to crude oil, and there is a great opportunity for some of the cities in the Caribbean region to become a hub for services and oil goods for the oil industry. Graphic: oil production in Colombia. Source: National Hydrocarbons Agency.
Source: Portafolio
Date: July 14
Headline: Controversy continues over gas figures.
The natural gas production figures for 2019, shared by the Ministry of Mines and Energy (MME) on April 30, did not sit well with the country's gas sector. The reason, for producers, transporters, and marketers of the mentioned fuel, is that the extraction figures, as well as the proven reserves, are significantly different from the actual volumes. A confidential four-page letter, accessed by Portafolio, sent recently by Naturgas to the Minister of Mines and Energy, Diego Mesa, and the president of the National Hydrocarbons Agency (ANH), Armando Zamora, not only explains what the inconsistencies in the information provided by the mentioned ministry are, but also requests clarification of the same. (…) “Ecopetrol and Hocol include operational consumption as part of their reserves in market reports, which are audited by recognized international firms,” says Naturgas in its letter.
Colombian Association of Oil and Gas