ACP as a source of information
Source: vanguardia.com – Regional
Date: August 03
Headline: Oil companies close the first half with negative data due to the new coronavirus
Financial results of the most important companies in the sector recorded million-dollar losses. Pemex lost US$27.637 million. The bad time faced by the oil market in the first six months of the year not only drove the price of West Texas crude down to -US$31, (…) Tomorrow, when the results of the state oil company Ecopetrol are presented, all analysts“ attention will be on whether it will follow the trend of its global peers, which are recording heavy losses, or if, on the contrary, it will barely scrape through the first half of the year. (…) Francisco José Lloreda Mera, president of the ACP, said that ”in recent weeks the price has remained relatively stable between US$42 and US$44 per barrel, Brent price, and we expect that in the remaining part of the year it will continue to recover, albeit slowly. However, there is still an uncertain outlook due to the different global economic reopening schedules that may incentivize demand, the reduction in production cuts by OPEC+, and due to the outbreaks.”.
Source: radiosantafe.com – Regional
Date: August 03
Headline: Oil industries have suffered more than 4,000 impacts from attacks on pipelines
A report by the Ideas for Peace Foundation (FIP) delivered to the Truth Commission reveals that attacks on oil infrastructure in Colombia left more than 4,400 impacts on the industry, the environment, and the civilian population. The report emphasizes the areas of influence of the Caño Limón-Coveñas and Trasandino pipelines, the most affected by the attacks. (…) For his part, the Executive Vice President of Ecopetrol, Alberto Consuegra, stated that “non-repetition must be a motto for everyone, so that we can build the peace we need for the country.” Regarding expectations for the Commission's work and its Final Report, Francisco Lloreda, President of the Colombian Petroleum Association (ACP), stated: “I do not expect an official historical truth, which is impossible to achieve. I hope that (the Commission) shares with us a series of plural narratives, giving voice to the victims.”.
Source: oilchannel.tv – Regional
Date: August 03
Headline:Felipe Bayón reports the plan that Ecopetrol will implement to face the crisis
It was the 1980s when the Bogotano Felipe Bayón entered the Universidad de Los Andes in Bogotá to study Mechanical Engineering, a career that would prepare him to compete in the big leagues of the automotive industry and, in this way, follow in the footsteps of his father, who became president of General Motors in Colombia. But life took him shortly after graduating to Shell, where he began a long career in oil and gas. (…) For Francisco José Lloreda Mera, president of the Colombian Petroleum Association (ACP), the oil and gas industry in Colombia and the world faces two major challenges with a high level of uncertainty: price stability and demand for hydrocarbons.
GREMIO
Source: La República
Date: August 04
Headline: Ecopetrol will reveal today the financial and operational results of the second quarter
Today Ecopetrol will announce its financial and operational results for the second quarter of the year and the update of the Business Plan 2020 – 2022. The company will show the main challenges it faced in the last three months, as well as confirm the amount of investment for its different lines of business. According to the company, tomorrow the executives of the oil company will hold two conference calls to discuss the results obtained and the outlook for the next three years. The company's balance comes amid uncertainty about the pandemic and low international oil prices. (…) In that plan, Ecopetrol even highlighted that it will guarantee a production close to 700,000 barrels per day of hydrocarbons, as well as a refining load between 300,000 barrels and 320,000 barrels per day.
Source: La República
Date: August 04
Headline: The Colcap stocks that fell the most in July
Although, in general, the Colombian Stock Exchange (BVC) has recovered after the impact of the declines in March, which were a consequence of the spread of covid-19 and the oil price war between Saudi Arabia and Russia, the Colcap index has not returned to the level it started the year with. In fact, in the first seven months of 2020, it has lost 31.771% of its value, as it went from 1,662.42 units to 1,134.34 units. (…) The variation of the stocks that are part of the Colcap. Variation. Ecopetrol: -37.251%; Canacol: -18.141%.
Source: El Heraldo
Date: August 04
Headline: Concern in the CD over possible arrest of Uribe
Although the Supreme Court of Justice has not yet defined the legal situation of former president and senator Álvaro Uribe regarding the case of alleged witness manipulation against fellow senator Iván Cepeda, the uribista campaign is circulating on social media and in the media to express rejection of a potential prison preventive measure against the country's main elector. (…) The letter is signed by Francisco Santos, former vice president; José Roberto Arango, former high presidential advisor; Luis Guillermo Plata, former minister of Commerce; Luis Ernesto Mejía, former minister of Mines; Sandra Suárez, former minister of Environment; Alberto Carrasquilla, former minister of Finance; Fabio Valencia, former minister of the Interior; Jaime Bermúdez, former minister of Foreign Affairs; Gina Benedetti, former ambassador; Juan Ricardo Noero; Guillermo Ricardo Vélez, former ambassador; Isaac Yanovich, former president of Ecopetrol; General Jorge Enrique Mora Rangel and Juan Gómez Martínez, former governor of Antioquia.
Source: Vanguardia Liberal
Date: August 04
Headline: They are working on the reactivation of the Yariguí Field
The severity of the violent actions that took place in the Yariguí oil field, located between the departments of Santander and Bolívar, until yesterday did not allow for its reactivation. However, Ecopetrol explained that a group of experts is working to get the field back in operation, and in conjunction with the authorities, institutions, and the Public Ministry, the process of restoring work to reactivate the production field has begun. (…) As a reminder, the field has been shut down since Friday, July 31, when a group of people violently attacked two individuals, abruptly entering and affecting Ecopetrol's facilities in Isla VI, causing the field to shut down.
Source: El Meridiano de Sucre
Date: August 04
Headline: Banco de la República projects profits
Banco de la República reported that it projects profits of 7.08 trillion pesos in 2020, which means it raised its projection since in May it anticipated profits of 6 trillion pesos by the end of this year. It indicated that the profits would be the result of estimated revenues of 9.3 trillion pesos and expenses of 1.2 trillion. (…) It is worth noting that in 2019 Banco de la República ended with historic profits of 1.7 trillion, which, combined with the results of Ecopetrol, meant that the Government did not have to sell assets to finance its spending.
Source: dataifx.com
Date: August 04
The Colombian oil company announced its financial results for the second quarter of this year. According to the company, in line with the expectations announced at the end of the first quarter, the results of the second quarter of 2020 reflect the impact of the unprecedented situation caused by the expansion of Covid-19 worldwide. (…) Regarding Unconventional Reservoirs, the oil company recalled that on July 7, the Ministry of Mines and Energy issued the technical regulation, and it is expected that in the coming months the environmental, civil, and contractual regulations will be issued, which will allow for a complete regulatory framework for the development of the Comprehensive Research Pilot Projects (PPII). (…) “Regarding our activity in the Permian along with Oxy, the planned reactivation of operations for the second half of 2020 is highlighted. This activity will mainly focus on drilling 22 new wells, which will add to the 22 already drilled and in production…,” said Bayón.
Topics
Source: La República
Date: August 04
Headline: Positive manufacturing data boosted the price of the dollar
On Monday, the dollar reached an average price of $3.768,55, which represented an increase of $35,47 against the representative market rate, which stood at $3.733,08. (…) Oil prices also improved following the release of manufacturing data from the United States, Europe, and China, which countered fears of oversupply. According to Reuters' closing prices, the WTI barrel rose 1,84%, to US$41,01, while Brent increased 1,45%, to US$44,15.
Source: Portafolio
Date: August 04
Headline: Oil rises amid increased demand
The price of the Brent barrel surged yesterday by 1.4% to US$44.15, amid indicators showing a possible increase in demand and as the measure to raise production from OPEC countries came into effect.
Source: El Colombiano
Date: August 04
Headline: Banrep highlights more stable peso
The Bank of the Republic released the minutes from last Friday's meeting, which concluded with a new reduction in the entity's intervention rate, leaving it at 2.25 %. Despite the entity's decision to reduce this monetary policy mechanism, it highlighted some signs of improvement, including greater stability of the local currency compared to the beginning of the pandemic. (…) “Similarly, oil prices and remittances from workers abroad have shown a trend towards recovery,” the Bank added.
International
Source: El Espectador
Date: August 04
Headline: «Fracking,» Quebradona, and Santurbán. By: Pablo Leyva
After a lamentable first half of the country's mining-energy policy, Diego Mesa Puyo arrives at the Ministry of Mines and Energy, a minister who in interviews and writings (El Tiempo, 24/07/2020) claims that what has been done in that portfolio is unmatched and promises to reinforce the policy with three axes: accelerate the energy transition, diversify the mining basket “…with essential metals for the energy transition” and capitalize on the reactivation of the hydrocarbons sector. The slogan for the second half is “promote the sustainable reactivation of the economy.” (…) Given the sufficient scientific information that exists about the impacts and environmental effects of fracking, the PPIIs are useless. With a pilot, without declaring how many wells are projected, it is not possible to comprehensively assess the cumulative impact of many wells in a region and the geoecosystem, and the precautionary principle is unknown.
Source: La República
Date: August 04
Headline: Donations from the IAEA will arrive in a month
Thanks to the coordination between the Colombian Embassy in Vienna and the Ministry of Mines and Energy, led by Diego Mesa, the aid granted by the International Atomic Energy Agency (IAEA) to combat the crisis generated by COVID-19 will arrive in a month. The donations include 4,000 diagnostic tests and a scheme for effective Rtpcr 99% tests.
Colombian Association of Oil and Gas