ACP as a source of information
GREMIO
Source: La República
Date: July 29.
Headline: Opposition parties seek to reform Emergency decrees
With a package of 15 bills, several congressmen from different opposition parties seek to overturn a series of regulations adopted by the National Government within the framework of the Health Emergency through law decrees. The group of opposition representatives who joined this initiative includes names like Roy Barreras, Jorge Enrique Robledo, and Germán Navas, among others. (…) For example, the proposed measures aim to repeal Decree 492, which facilitates the privatization of national assets, such as Banco Agrario and Ecopetrol. Additionally, other decrees expected to be modified are 488 and 500 for the labor formalization of health workers, among others.
Source: La República
Date: July 29.
Headline: Medium-Term Fiscal Framework 2020: Optimistic?
By Mauricio Santa María S., president of Anif, in collaboration with Carlos Felipe Prada L, Ekaterina Cuéllar K, Gabriela Paz D, Laura Llano C. A few days ago, the National Government published the Medium-Term Fiscal Framework (MFMP) for the year 2020, for approval by the Congress of the Republic, in compliance with what is established in Law 819 of 2003, shortly after the Advisory Committee of the Fiscal Rule suspended that Rule for 2020 and 2021. (…) Let us remember that the alienation of a part of Ecopetrol (11.5%), more than a decade ago, brought significant benefits to the country and the company; therefore, using the approval that the Nation already has to alienate an additional 8.5% is a valid option that should be considered. Thus, a part of the revenues required from 2022 could be covered, as completing that process in 2021 is practically impossible.
Source: El Colombiano
Date: July 29.
Headline: Fabricato, Enka, and El Cóndor, the most valued
On the Colombian Stock Exchange (BVC), Fabricato rose 50 % to 6 pesos, Enka grew 3.29 % to 8.17 pesos, and El Cóndor reached 1,000 pesos, with an increase of 1.01 %. Meanwhile, the most traded stocks of yesterday's session were two from Bancolombia (PFBcolom and Bcolombia), as well as Ecopetrol.
Source: dataifx.com
Date: July 29.
The iguana company revealed that next Tuesday, August 4, before the market opens, it will announce its financial and operational results for the second quarter of 2020. Additionally, the oil company will present the update of the Business Plan 2020 – 2022. On Wednesday, August 5, 2020, Ecopetrol's management will offer two conference calls, in Spanish and English, to discuss the results obtained and the outlook for the next three years.
Source: lareporteria.com
Date: July 29.
Headline: Congressman César Ortiz promotes debate to prevent «giving Ecopetrol away»
In his concern to defend public assets, congressman César Ortiz Zorro from Casanare managed to have the plenary session of the House of Representatives approve his proposal to hold a political control debate with the National Government, to prevent the sale of the little heritage that remains to the Colombian people: Ecopetrol, CENIT, and ISA. (…) In this regard, the congressman from Casanare stated that he will denounce that the hydrocarbon assets of Colombians that were handed over for administration to ECOPETROL were sold at a percentage greater than 10% of all the wealth managed by this mixed-economy company, represented in barrels of oil and gas, refineries in Barranca and Cartagena, oil pipelines, multipurpose pipelines, gas pipelines, 29 companies among which CENIT Transport and logistics stands out, a dozen shares in other companies, buildings, and movable assets.
Topics
Source: El Colombiano
Date: July 29.
Headline: Losses predominate at the close of Tuesday in the markets
The main European stock exchanges closed yesterday's session with mixed results, although with a predominance of losses, amid investors' doubts reacting to opposing stimuli. (…) In the oil market, prices fell. Brent, which is the benchmark crude in Europe, dropped by 0.4%, to $43.7 per barrel, and West Texas Intermediate (WTI), the benchmark in the U.S., lost 1.1%, hovering around $41.1 per barrel. Gold, one of the safe-haven assets in times of uncertainty, continues to hit highs: yesterday it surpassed $1,981 per ounce, although it later fell to around $1,950.
Source: El Meridiano de Córdoba
Date: July 29.
Headline: A thousand stations would cease operations
The National Federation of Fuel and Energy Distributors (Fendipetróleo) warned that a thousand service stations could cease operations in the country. It also estimated that, due to the crisis, the country will stop collecting one trillion pesos in taxes from fuel sales at service stations. According to Fendipetróleo, in the first half of 2020, more than 230 million gallons have not been sold, representing 2.3 trillion pesos in sales.
Institutional
Source: El Tiempo
Date: July 29.
Headline: Final phase of the lawsuit against fracking in Colombia is reactivated
After several months of inactivity, due to the suspension of terms in judicial processes that lasted until the end of June, the process for the lawsuit against the regulations governing fracking in the country (decree 3004 of 2013 and resolution 90341 of 2014) was reactivated in the Council of State, a judicial process that will determine whether unconventional hydrocarbon deposits can be exploited in Colombia using the multistage horizontal hydraulic fracturing technique. (…) This week marks the end of the three-day period that Judge Ramiro Pazos, the rapporteur of the lawsuit against fracking, gave for the ministers of the Interior, Finance and Public Credit, Health, Mines and Energy, Environment, and the director of the Administrative Department of the Civil Service to comment on this contempt incident.
Source: Vanguardia Liberal
Date: July 29.
Headline: “Santander needs to unite for the economy”
Currently, the world is facing an economic crisis due to the COVID-19 pandemic. (…) The forum included two academic blocks: fracking and agro-industry. (…) In the country, four research and development pilots for fracking will be conducted with two wells each in the Middle Magdalena Valley and Ranchería – Cesar. Andrés Mantilla, director of the ICP, who participated in the event, recalled that studies are currently being conducted to carry out these operations sustainably. This is in compliance with the recommendations of the expert commission. For his part, Tomás González Estrada, economist, former Minister of Mines and Energy, another of the speakers on the panel, mentioned three important fronts regarding the mining-energy sector: the remodeling of the refinery, the mining projects in the region, and the fracking projects.”.
Colombian Association of Oil and Gas