ACP as a source of information
Source: La República – National
Date: February 03
Headline: Union of oil guilds
The Colombian Petroleum Association (ACP) will form an alliance with the goods and services guild of the industry, Campetrol, so that through workshops the operating companies can present their investment plans to the service companies. The idea is to achieve regional synergies, in order to strengthen the value chain of the oil industry. It was replicated in: larepublica.co (February 03).
Source: El Nuevo Día – Regional
Date: February 03
Headline: Strata 1 to 3 are the ones that most request loans in Colombia
Consumer credit has had a good growth dynamic in the last year, evidencing the good performance of the economy. In Colombia, during 2019, one in three consumer loans requested was for less than $5 million. 37% of these loans were for people with incomes less than $2 million. This was revealed by the study ‘Consumer Credit for All’ by Datacrédito. (…) Graph: Credit Values (Thousands $). Source: ACP.
Source: El País – Regional
Author: Francisco José Lloreda Mera
Date: February 02
Headline: Intertwined
Governing Colombia is not easy. Due to the legal framework, bureaucratic pachyderm, political meanness, and because governments are expected to have a magic wand to solve all problems. Since that is not possible, except for a few exceptions, they are judged without mercy and without nuances, and for only a few of their actions. Pastrana, Uribe, and Santos have experienced this, and the same will happen to Duque in a few years. Pastrana went down in history as the president of Caguán; of a failed process, with a guerrilla that did as it pleased and that wiped the floor with the good faith of Colombians. The strengthening of the FARC is attributed to him. But few acknowledge that he inherited a pariah and practically failed country and that he reintegrated it into the world, modernized the Armed Forces, and navigated a deep economic and fiscal crisis. Few recognize the good he did. Responded in: elpais.com.co (February 02).
Source: La República – National
Date: February 01
Headline: They will invest US$10.000 million in energy and mining
The Minister of Mines and Energy, María Fernanda Suárez, confirmed that investments of more than US$10.000 million will materialize in the mining-energy industry following the signing of new oil contracts, energy auctions, and new projects that will enter the system. In a press conference, Suárez highlighted that last year the sector closed with good results thanks to the reactivation that occurred especially in energy, oil, and gas. In fact. (…) From the Ministry of Mines and Energy, it was also highlighted that this year an average of 900,000 barrels per day could be reached, an estimate slightly higher than the 890,000 barrels that organizations like the Colombian Petroleum Association (ACP) and Acipet are betting on.
Source: buenaventuraenlinea.com – Regional
Date: January 31
Headline: Environment and development, an ‘indissoluble marriage’
In recent years, the world has turned against the exploitation of hydrocarbons and mining. However, experts and stakeholders feel that the rejection has gained so much strength that these activities would be on the verge of extinction, with serious consequences for global development. (…) “We are facing a phenomenon of widespread hypocrisy because many of those who question hydrocarbons benefit from the quality of life that they provide. Hypocrisy because they confuse the purpose of having a better planet with understanding that energy decisions. Hypocrisy because while they desire better quality of life and progress, they do not admit that the oil industry is one of the main contributors of resources to the treasury. Hypocrisy because many of those who claim to be environmentalists benefit politically and economically from their demagogic discourse,” says Francisco José Lloreda, president of the Colombian Petroleum Association.
Source: paisminero.com – National
Date: January 31
Headline: Environment and development, an ‘indissoluble marriage’
In recent years, the world has turned against the exploitation of hydrocarbons and mining. However, experts and stakeholders feel that the rejection has gained so much strength that these activities would be on the verge of extinction, with serious consequences for global development. (…) “We are facing a phenomenon of widespread hypocrisy because many of those who question hydrocarbons benefit from the quality of life that they provide. Hypocrisy because they confuse the purpose of having a better planet with understanding that energy decisions. Hypocrisy because while they desire better quality of life and progress, they do not admit that the oil industry is one of the main contributors of resources to the treasury. Hypocrisy because many of those who claim to be environmentalists benefit politically and economically from their demagogic discourse,” says Francisco José Lloreda, president of the Colombian Petroleum Association.
Source: bnamericas.com – International
Date: January 31
Headline: Colombian oil production increases while Ecopetrol evaluates the impact of the coronavirus
Colombia recorded higher oil and gas production in 2019 thanks to the benefits of a better perception from investors, according to a high authority in the energy sector. Crude oil production reached 885,851 b/d, compared to 865,000 b/d in 2018, while natural gas production rose 9.41% in the period to 1,068 million cubic feet per day (Mpc/d), indicated Energy Minister María Fernanda Suárez. (…) The new figures are known just days after the Colombian Petroleum Association (ACP) projected investments of US$4.970 billion in the local oil sector in 2020, 231% more than the total from last year. CORONAVIRUS. In other news from the Colombian hydrocarbons sector, the state energy company Ecopetrol would not be concerned about the impact of the coronavirus outbreak on international oil prices, according to its CEO, Felipe Bayón.
GREMIO
Source: El Tiempo
Date: February 03
Headline: Fuels have accounted for 671% of the increase in imports.
If there was a sector in 2019 that was the protagonist of the fall in exports and the rise in imports, it was that of fuels and the production of extractive industries. (…) Specifically, the products included in this category are gasoline and diesel, jet fuel, and naphtha, a derivative that the oil industry uses significantly to ‘thin’ or dilute heavy crudes, so that they can be transported through pipeline networks. (…) The behavior, according to Ecopetrol and the Ministry of Mines and Energy, is fundamentally associated with the greater growth that the economy has been experiencing, which has led to an increase in the consumption of products such as diesel, gasoline, and jet fuel.
Source: El Tiempo
Date: February 03
Headline: Refineries optimize by buying abroad.
Of the total imports of crude oil and liquid fuels made by Ecopetrol and Reficar during 2019, crude purchases accounted for 23 percent of the total volume, amounting to 110,000 barrels per day, including crude for the Cartagena refinery, while external purchases of fuels represented 77 percent of the total volume. In the case of the Barrancabermeja refinery, according to the Ministry of Mines and Energy, during 2019, 3 percent of the diet was imported to balance the crude load of the light crude processing units. (…) According to the Ministry of Mines and Energy, currently, Ecopetrol carries out the necessary imports of diesel, gasoline, and jet fuel to complement the country's supply, but also so that these products can be mixed with domestically sourced fuels, in order to achieve improvements in terms of quality and lower levels of particulate matter.
Source: Portafolio
Date: February 03
Headline: Expectation for the direction of the dollar and the price of oil.
Where are the prices of the dollar and oil headed in the short and medium term? That is the question being asked by economic authorities, businessmen, analysts, academics, and even consumers. (…) Likewise, the possibility that the dollar price will stabilize in the coming days is weak, as the downward trend in the international oil price continues. For Colombia, the increase in the exchange rate has positive and negative effects. (…) Companies like Ecopetrol feel a mismatch in their accounts every time the Brent crude price is below the assumptions with which the company's strategic plan for income, expenses, and investment was made. Similarly, the oil company's stock has felt the decline in crude value. On January 14, the stock was trading on the Colombia Stock Exchange at an average of 3,415 pesos, while last Friday it was at 3,171 pesos.
Source: Portafolio
Date: February 03
Headline: U.S. oil companies reduced their profits.
In 2019, Exxon’s profits decreased by 31% and Chevron’s by 81%, with a drop in refining profitability. The two largest oil companies in the U.S., Exxon Mobil and Chevron, significantly reduced their profits in 2019, a year marked by fluctuations in crude prices and economic slowdown, which have affected the businesses and demand of these large producers. The number one, Exxon Mobil, closed the year with 31% less profit, down to $14.34 billion, and saw its annual revenue drop by 91%, down to $264.938 billion, with notable weakness in the refined products area, gasoline, and diesel, known as downstream. (…) For its part, Chevron, the second largest oil company in the U.S., reduced its annual profits by a strong 81%, down to $2.845 billion, which contrasts with the decline of only 9% in annual sales, down to $146.516 billion.
Source: El Nuevo Siglo
Date: February 03
Headline: The government would not need privatizations to achieve fiscal goals.
The collection from the tax reform, the benefits from the Bank of the Republic, and the dividends from Ecopetrol would be sufficient to meet obligations and keep the rating agencies satisfied. Despite the need for resources and a budget deficit for this year, a sector of analysts believes that if the country is prudent in managing liquidity from various sources, it will not have problems meeting its fiscal targets. Indeed, an analysis from Itaú bank believes that “the approval of the tax reform, along with the high benefits from the Bank of the Republic and a considerable payment of dividends from Ecopetrol, means that the Government will not depend as much on privatizations to achieve short-term fiscal goals.”.
Source: El Colombiano
Date: February 03
Headline: Oil companies feel the impact of the coronavirus
Exxon Mobil reported $5.7 billion in profits in the last quarter of last year, a 5.2% decrease compared to 2018. Revenues also fell by 6.61% over the year, to $67.2 billion. Chevron fared worse: it announced losses of $6.6 billion; reported Afp.
Source: El Espectador
Date: February 02
Headline: Caring and educating, the story behind the explosion of an anti-personnel mine
The lives of the relatives and caregivers of the survivors of these devices change radically when this happens. Mayerly Díaz testifies through the healing of her father, who lost his eyes due to a mine in Samaniego. (…) Since then, this organization has provided support and guidance to the victims of these accidents in the municipalities of Samaniego, Santacruz, and Providencia, which is the Abades region, but they also have partners in the municipalities of La Llanada and Los Andes. For this work, on December 5, they won the Camina Award, granted by the embassies of Belgium and Canada, along with the Colombian Campaign Against Mines, with the support of Reconciliation Colombia and Gran Tierra Energy.
Source: El Colombiano
Date: February 02
Headline: Ecopetrol must pay for oil spill in Lizama
The National Authority of Environmental Licenses imposed a fine of 1,415.155 million on Ecopetrol for the oil spill in La Lizama, Santander, recorded in March 2018. According to Ecopetrol, the reasons from Anla focused on the fact that “the operational actions taken by Ecopetrol were not adequate.” The company will evaluate and present technical arguments to demonstrate that it did effectively address the contingency.
Source: El Colombiano
Date: February 02
Headline: Rethinking the relationship with Venezuela. By: Rafael Nieto Loaiza
The recapture of Aída Merlano in Venezuela has sparked a debate worth entering. There are those who argue that the Government cannot request Maduro to extradite Merlano because, they say, it would legitimize the Chavista regime. (…) The country is paying a very high cost and cannot bear one more migrant. Finally, the economic issues: revitalizing border trade, the payment of a couple of billion dollars owed by Venezuela to Colombian companies, Ecopetrol's access to oil fields in the brother country, the sale of Colombian energy, and the preparation for gas imports…
Source: Vanguardia Liberal
Date: February 02
Headline: The El Centro district feeds the Development Plan
Community leaders, youth, and even children participated this week in the meeting with district authorities. Concerns were raised and commitments were made regarding the design of the 2020-2023 Plan. The ‘comemango’ community, as the inhabitants of the El Centro district are affectionately called, received this week the advance of the local government, which is already listening to proposals for the design of the Development Plan. (…) One of the first announcements made to the community of the El Centro district is the management being carried out to advance the road improvement project on the Laureles – Campo 22 stretch, which the community has requested for years. “We sat down with Ecopetrol to finish the road that reaches Campo 22 and later it will be extended to Campo 23,” assured the district leader.
Source: El Pilón
Date: February 02
Headline: New conditions imposed for fracking in Colombia
The latest recommendation was to conduct a study that demonstrates the appropriate distance between the areas where the activity is carried out and the distance from the home to the unconventional extraction well. In a statement regarding the precautionary measure that suspended the pilot fracking projects, the Administrative Tribunal of Cundinamarca imposed new conditions for the exploitation of unconventional deposits, YNC. (…) One of the pilot projects is in San Martín, south of Cesar. The National Hydrocarbons Agency, ANH, signed on December 2, 2015, with the companies ConocoPhillips and CNE Oil & Gas, a subsidiary of Canacol Energy, a contract to explore and exploit unconventional deposits using the fracking technique in the VMM3 block, which includes, among others, the municipality of San Martín, Cesar.
Topics
Source: La República
Date: February 03
Headline: According to analysts, the dollar will be above $3,400
For today, Monday, the Representative Market Rate (TRM) will be $3,423, a figure that showed an increase of $11.76 compared to the price at which the dollar closed last week, affected, especially, by the drop in oil prices and alerts about the coronavirus. (…) The main reasons experts argue that the dollar will remain at this level are global concerns that the negative effect of the coronavirus in China has caused on oil prices and the potential impact it would generate on large economies.
Source: Portafolio
Date: February 03
Headline: The U.S. will produce 13 million barrels of crude
The United States will again increase its oil production volume this year, bringing it to a figure of around 13 million 300 thousand barrels per day, approximately 1 million more than the average recorded in 2019. The expected figure represents more than double what oil production was a decade ago. Such is the forecast of the U.S. Energy Information Agency, which projects sustained growth in crude production until 2025. (…) Globally, the United States consolidates itself as the top crude producer, displacing Russia and Saudi Arabia from the top positions, with volumes below 11.5 million barrels per day, respectively.
Source: El Nuevo Siglo
Date: February 03
Headline: Coronavirus: more than 300 dead and the first outside China
The Organization of the Petroleum Exporting Countries (OPEC) and Russia, its ally, will hold a technical meeting on Tuesday and Wednesday in Vienna to analyze the drop in crude prices due to the epidemic of the new coronavirus, a source close to the organization indicated. “A mixed technical committee (JTC) is scheduled for Tuesday and Wednesday” in Vienna, where OPEC is headquartered, this source explained. Oil prices have dropped sharply since the beginning of the year, due to growing concerns about China's economy, affected by the epidemic of a new coronavirus that emerged in the center of that country.
Source: Vanguardia Liberal
Date: February 03
Headline: Quick bites 1. Another war?
The eternal conflict in the Middle East boils. But, will there be another war? We do not know. However, I do not believe that either Iran, the U.S., or any other country wants it. But even without wanting it, there would not be a lack of a spark that could ignite such a bomb. It is indeed a very difficult conflict to understand and even more so to resolve. It is an explosive mix of various elements: religion; monopoly of atomic weapons; possession of the oil in those regions, a poisonous and contaminating element, but unfortunately key to modern technology; deep-seated hatreds born from a long history of struggles and dominations; various forms of government; confrontation between “Christian civilization” and Islamic civilization, etc..etc.
Source: El Tiempo
Date: February 02
Headline: Councilors, without gasoline
The board of directors of the Bogotá Council issued a resolution to eliminate fuel payments for the vehicles of the National Protection Unit (UNP) used by councilors. Last year, the Council paid 530 million pesos for this concept. The board of the corporation is made up of Carlos Fernando Galán (president), Yefer Vega (first vice president), and Luis Carlos Leal (second vice president).
Source: El Tiempo
Date: February 02
Headline: The risks that could ruin the economy in 2020
The traditional game of economic forecasts for the year ahead seems not worth it. In 2020, compared to all the years since the financial crisis, it is even more likely that the global economy will continue to grow, that interest rates will remain at very low levels, and that stock markets will continue to rise. (…) And without dismissing the impact that the 2019-nCoV coronavirus epidemic may ultimately have on the global economy, the Chinese economy, oil prices, tourism, and other sectors and variables, I believe there are ten risks that could cause economic and financial problems in 2020.
Source: El Colombiano
Date: February 02
Headline: Rethinking the relationship with Venezuela. By: Rafael Nieto Loaiza
The recapture of Aída Merlano in Venezuela has sparked a debate worth entering. There are those who argue that the Government cannot request Maduro to extradite Merlano because, they say, it would legitimize the Chavista regime. (…) The country is paying a very high cost and cannot bear one more migrant. Finally, the economic issues: revitalizing border trade, the payment of a couple of billion dollars owed by Venezuela to Colombian companies, Ecopetrol's access to oil fields in the brother country, the sale of Colombian energy, and the preparation for gas imports…
Source: La Opinión
Date: February 02
Headline: The Catatumbo region. By: Jaime Buenahora Febres
The Catatumbo region, which has about 5,000 square kilometers, is home to more than 280,000 people, scattered across 11 municipalities. Nowadays, it is talked about for the extreme violence that derives from drug trafficking. And we forget the paradise it was, and can still be for its extraordinary wealth and multiple charms. Abundant in oil, to the point that during most of the 20th century it produced more than 60,000 barrels daily, it is also rich in coal and uranium. (…) Then came the construction of the Caño Limón – Coveñas pipeline, which crossed our department, and increased the power of the Eln due to extortions against Mannesmann, the company responsible for its construction.
Source: La Libertad
Date: February 02
Headline: Government announced new security measures in Arauca after violent events
Defense Minister Carlos Holmes Trujillo presided over a security council in the capital of the Arauca department, accompanied by Governor José Facundo Castillo, the mayors of the seven municipalities, and the public force, following the increase in violent actions in that region of the country. The objective of the meeting was to generate strategies aimed at the security of the entire civilian population to counteract the violent acts that have been affecting the department. It is worth mentioning that during the last week, different terrorist attacks were recorded. Two of the most recent incidents occurred on Wednesday, January 29, when men riding a motorcycle threw an explosive device at the police station in the municipality of Tame, injuring one police officer and one woman. The other attack occurred the same day at the JIBA well, near the Caño Limón Coveñas pipeline, which was dynamited causing a serious oil spill.
Source: llanosietedias.com
Date: February 02
Headline: Conclusions of the Third Regional Conversation
At the facilities of the Francisco Arango Educational Institution in Villavicencio, the Third Regional Conversation took place, where different clarifications emerged on some topics of great importance for the development and construction of the country. The topics discussed in this meeting were proposed by 20 different working groups made up of 12 representatives from different population sectors, accompanied by a member of the national government. (…) Likewise, the attendees referred to issues such as climate change, deforestation, glyphosate, mining in protected areas, popular consultations, the prohibition of single-use plastics and alternatives, and fracking. They also expressed specific concerns about the transition to sustainable energies, extractivism models, and reforestation programs.
Institutional
Source: El Espectador
Date: February 03
Headline: A cabinet of stepped-on hoses
The difference in positions between President Iván Duque Márquez and former Interior Minister Nancy Patricia Gutiérrez highlighted that not everyone in the Executive speaks the same language. For Nancy Patricia Gutiérrez, former Interior Minister, the Peace Agreement is a «semi-failed» pact. (…) Another voice that clashed with the ideals of the National Government, even shortly after joining the cabinet, was that of Mabel Torres, Minister of Science, who stated her position against fracking, a method of hydrocarbon extraction that involves hydraulic fracturing and uses large water resources. What Torres said is more in line with Duque's candidate speech —who promised that this extraction model would not be implemented in Colombia— than with President Duque's stance and directly contradicts the position of María Fernanda Suárez, Minister of Mines and Energy, who has linked fracking to the possibility of having a much more expensive dollar than the current one. «Without fracking, we could say that we would go from having a dollar of 1,400 to 5,000,» stated the head of the Mines portfolio in an interview with Blu Radio in September 2019.
Source: La República
Date: February 03
Headline: Deadline extended to submit comments on the fracking pilot decree
One of the plans of the oil sector in general, and specifically of companies like Ecopetrol, is that by the end of this year, the drilling of fracking research pilots will take place. In fact, the state oil company is already working on the baseline of this technique, but it depends on the Government defining the protocols. (…) It should also be noted that one of the first points addressed in the decree is that of the legal entities that can conduct fracking pilots. On this point, it is stipulated that “legal entities wishing to develop the pilots must request it from the National Hydrocarbons Agency, for which they must meet the requirements that said agency establishes for this purpose, according to the geographical location determined by MinEnergía. The ANH will determine the contractual mechanisms or modifications to them, as appropriate, for the development of the mentioned projects.”.
Source: Portafolio
Date: February 03
Headline: The new Minister of the Interior will receive a busy economic agenda
In mid-month, when the current Minister of Labor, Alicia Arango, takes over the Interior portfolio replacing Nancy Patricia Gutiérrez, she will find a long list of economic and social projects that need to be processed in Congress. (…) Portafolio learned that other government initiatives are also waiting in line to resolve legal gaps in the mining-energy operation. The first relates to the Coordination and Concurrence Law between Nation and Territory, which is being drafted among the technicians of the Ministry of Mines and Energy. Another is the reform of Prior Consultations. Additionally, there is a pending initiative, which is still in its initial drafting phase, related to a legal framework that effectively combats the development of illegal mining. The project is the responsibility of the Ministries of Defense, Mines and Energy, and Interior.
Source: El Colombiano
Date: February 03
Headline: Oil companies authorized to carry out projects with royalties
Companies that exploit non-renewable natural resources will be able to execute investment projects in the municipalities where they carry out extractive activities thanks to the Government's signing of the ‘Works by Royalties’ decree. “A revolutionary instrument. It will always be in coordination with the mayors because they are the ones who decide what is the relevant work for their region. This will allow the option of putting the knowledge that mining and hydrocarbon producing companies have into the execution of projects for the benefit of the communities,” expressed the Minister of Mines and Energy, María Fernanda Suárez. (…) “When one looks at the issues of royalties, the problem is not the generation of investments but that many times between the approval and execution of the project, the work never arrives or is delayed. With this tool, we expedite the execution of royalties so that producing companies can be a lever to help advance projects and ensure that the works arrive,” emphasized the Minister.
Source: El Tiempo
Date: February 02
Headline: Oil production in the country grew by 2.41%
According to the Ministry of Mines, last year oil production reached an average of 885,851 barrels per day, 2.4% more than the 865,000 recorded in 2018.
Source: El Espectador
Date: February 02
Headline: What happens if we lose oil self-sufficiency?
A good part of the strategic moves by companies like Ecopetrol or entities like the National Hydrocarbons Agency aim to avoid a return to this scenario, which Colombia experienced between 1976 and 1985. As oil and gas reserves approach dangerous limits, concerns begin about the sources that will provide the resources that could be lost with the loss of oil self-sufficiency, in the extreme case that it happens. (…) The transfers made by the oil activity to the State are manifested in the payment of income tax, tariffs, and VAT. Only Ecopetrol, which has a majority state participation, “generates dividends for the National Government, while private companies pay economic rights to the National Hydrocarbons Agency (ANH) for the awarding of their contracts.” Ecopetrol contributed 1.23 trillion to the Colombian State in dividends, taxes, and royalties during 2018. This amount could be equivalent to four tax reforms, poorly counted.
Source: El Espectador
Date: February 02
Headline: Ruins. By: Tatiana Acevedo Guerrero
The ruins are the wreckage. They are the testimonies of perdition, decay, or decline of what was once there. (…) The third of the ruins of the homeland are the swamps. Especially those that group around the Lizama 158 well, in Santander. This week, the National Authority of Environmental Licenses (ANLA) imposed a fine of 1.5 billion on Ecopetrol, within the process for the oil spill near the well in March 2018. The affected bodies of water extend to the mouth of the La Muerte stream in the Sogamoso River (and include the tributaries, over an area of more than 12 kilometers). Ecopetrol announced that it will appeal the ANLA's preliminary decision.
Source: La Opinión
Date: February 02
Headline: Fuel demand soared in 2019
Last year, Cúcuta and Norte de Santander faced a new dynamic in fuel demand (gasoline and ACPM), which, although it collapsed many service stations (EDS), also highlighted the role that smuggling played in the local market. Compared to the consumption figures of 2018, the sale of gasoline and ACPM increased by 76.5 million gallons, equivalent to 98% more. (…) The Ministry of Mines and Energy announced that with the new methodology for monitoring quotas in border departments, this problem would be solved. (…) Image. Attacks on pipelines: – 924 illegal valves have been recorded in the Tibú Field. – 107 illegal valves have been identified and removed in the Caño Limón Coveñas pipeline. – Most of the illegal connections occur in the rural area of Tibú.
Source: La Patria
Date: February 02
Headline: Gasoline and diesel remain stable for February
The Ministry of Mines and Energy reported that gasoline prices in the country will remain stable in February, as will the price of diesel. According to Minminas, in 2019 gasoline was stable for nine months. According to the report, the average price in the 13 main cities will be $9.267 and in Bogotá a gallon of gasoline will cost a maximum of $9.702 pesos. Diesel (ACPM) will cost $9.056.
Source: La Libertad
Date: February 02
Headline: 10.5 trillion pesos available for the execution of works from royalties
Companies that exploit non-renewable natural resources will be able to execute investment projects for the development, benefit, and closing of gaps in the municipalities where they carry out extractive activities. This, after the issuance of decree 098 on January 28, 2020, signed by the President of the Republic, Iván Duque; the Minister of Finance, Alberto Carrasquilla; the Minister of Mines and Energy, María Fernanda Suárez; and the Director of the DNP, Luis Alberto Rodríguez. (…) The producing company will initiate the payment recognition process before the National Mining Agency or the National Hydrocarbons Agency, as the case may be, once the project is completed and delivered, and the beneficiary territorial entity certifies its complete execution, prior to the concept of the oversight.