ACP as a source of information
Source: Portafolio – National
Author: Rafael Herz*
Date: January 24
Headline: The importance of Corporate Governance
Current discussions within the framework of social protests around the world raise, among many others, a new discussion about the ownership of public companies. Particularly in Latin America, this topic revives a theme from the past. When in the 1990s the privatization of state-owned enterprises was included in the economic policy agenda of several countries, positions were polarized. One position is and was that private ownership was synonymous with efficiency and profitable growth, avoiding the interference of political interests and the lack of specific stakeholders. The other reflects that public companies can and should be instruments of public policy, income redistribution, and incorporate social aspects into business practices. That same discussion seems to be returning to the agenda in the context of the demands arising from street protests. (…) *Vice President of the ACP. Responded in: portafolio.co (January 23).
Source: dinero.com – National
Date: January 23
Headline: «The sensible thing is to move forward soon with the pilots»: Francisco Lloreda
In a dialogue with Dinero, the president of the Colombian Petroleum Association (ACP), Francisco Lloreda, explained the importance of starting the fracking pilots as soon as possible. When do the fracking pilots start in Colombia? When do the fracking pilots start in Colombia? The Ministry of Mines and Energy is just days away from issuing the decree through which the Comprehensive Research Pilot Projects (PPI) will be regulated; with these, it is expected to gather more technical and scientific information that allows for the safe development of this technique in the country. Francisco Lloreda, president of the ACP, has insisted on the importance of carrying out these pilots as soon as possible because the longer time passes, the more the country's energy security is put at risk.
Guild
Source: Portafolio
Date: January 24
Headline: In 2019, business transactions worth more than US$12 billion were approved
Business activity in Colombia saw a significant increase last year, according to figures consolidated by the Superintendency of Industry and Commerce (SIC). In fact, according to data from the entity, the number of mergers approved last year increased by 171% compared to the data from 2018. (…) Likewise, one of the most active sectors was the mining-energy sector; it is enough to recall the authorization granted by the Superintendency to Chevron to acquire the liquid petroleum fuel terminals (supply plants) in Yumbo and Buenaventura.
Source: El Nuevo Siglo
Date: January 24
Headline: The strike and the conversation. By: Paloma Valencia
On January 21, the Esmad intervened 25 times in the demonstrations across the country. Many elected candidates who promised during their campaign not to use riot control force had to resort to it, as they understood the reason for its existence. When the right to protest and the right to mobility and the safety of other citizens come into tension, it is necessary to control the protest and safeguard the citizens who also have the right not to be on strike. (…) The demands of the committee are connected with socialist models, and those now called “progressives.” They start with requests from the traditional Farc and Eln such as the dismantling of the Esmad, modification of military structure, peace negotiations with all armed groups, freedom for supposed “political prisoners,” movements of cases from Military Criminal Justice. They demand the nationalization of Ecopetrol and the Health system. They ask that labor, pension, and health reforms not be processed; as well as the repeal of the orange law, the Tics law. In short… everything and for all tastes.
Topics
Source: El Espectador
Date: January 24
Headline: Expensive gold, rising palladium, and other projections for 2020
The International Monetary Fund (IMF) estimates that the global economy will grow by 3.3% this year, driven by advances in trade talks between the United States and China. And less visible assets like nickel are also expected to have a good year. The projections for 2020 regarding some of the most important indicators and assets of the global economy are already known, the first bets and hopes for this new year that begins. (…) Oil. This is perhaps the asset that generates the most uncertainty, as the three largest global forecasters of the oil market do not agree on what will happen with supply this year. While the Organization of the Petroleum Exporting Countries and its allies (OPEC+) expect their new production cuts (900,000 barrels per day less) to help reduce crude inventories, and consequently keep prices stable or even increase them, the International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA) expect the opposite: both entities anticipate an increase in inventories in 2020, even if OPEC+ cuts are fully implemented, implying weakness in the hydrocarbon's price.
Source: La República
Date: January 24
Headline: 2020: More of the same? By: Julián Roda
2019 was not a good year for the global economy. According to the World Economic Outlook of October 2019, while in 2018, 99 out of 194 countries showed an increase in their growth rate; in 2019, this number decreased to 64. (…) This could affect the price of oil, which is expected to be around US$65 per barrel of Brent for 2020. Under this scenario, a global GDP growth of 3.4% is optimistic. (…) That is why Econometría Consultores forecasts a growth of 3.3% for 2020. A slight revaluation of the Colombian peso is expected for 2020 due to the increase in oil prices. Total inflation is projected to be around 3.6% as there will be less pressure on tradable goods, but shocks in food prices generated by the weather will positively impact inflation. The unemployment rate is forecasted at 10.7%.
Source: La República
Date: January 24
Headline: The dollar surpassed 1,350 for the first time this year
The coronavirus has already impacted the dollar's exchange rate, and yesterday the currency reached an average price of 1,353.83, which represented an increase of 16.06 against the Representative Market Rate (TRM), which stood at 1,337.77 this Thursday. It is the first time this year that the average exchange rate closes above 1,350. (…) Additionally, the spread of this virus could cause difficulties in trade, as well as in tourism, which also affected oil prices. According to Reuters' closing, the WTI barrel fell 2.03%, to US$55.59, while Brent decreased 1.85%, to US$62.04. During the day, it reached prices not seen since November.
Source: Portafolio
Date: January 24
Headline: ‘We will use natural gas and oil for many years’
The only complaint he has when speaking with a Colombian media outlet is related to Falcao García. After all, Fatih Birol is a board member of the Galatasaray football team in his native Turkey and was involved in the decision to hire the player, whose performance is still below expectations. Aside from that, the current director of the International Energy Agency based in Paris dedicates his concerns to examining the evolution of the sector. The importance of renewable generation sources is increasingly clear, as was evident in Davos. On this topic, he spoke with Portafolio. (…) If we adhere to international commitments, we would need oil, although less than now, as well as natural gas. Coal will only be viable if the technology I mentioned is available at a reasonable cost. (…) What does what he says imply for an oil and coal exporter like Colombia? I believe that Colombia will continue to export those products. The problem is not necessarily the energy sources, but the emissions that arise from their use.
Source: Portafolio
Date: January 24
Headline: Brent Oil accumulates three days of decline
The price of West Texas Intermediate (WTI) oil closed yesterday with a drop of 2.03% and stood at $55.59 per barrel, once again due to fears of the spread of the coronavirus from China and its consequences on activity and growth. In London, the North Sea Brent barrel for March delivery fell by 1.85% to $62.04. Crude oil prices ended again lower, again due to concerns about the spread of a virus from China that could reduce fuel demand if it slows economic growth, although losses were limited by a reduction in U.S. crude inventories.
Source: Vanguardia Liberal
Date: January 24
Headline: “That ‘man’ should not be captured, he must be killed”: Colonel Pérez
Along with Colonel Pérez, professional soldiers Cristian David Casilimas, William Andrés Alarcón, and Alexánder Buriticá Duarte also appeared before the court. Before the Judge 17 of guarantees, the delegate of the Prosecutor's Office revealed audios with which he seeks to demonstrate that Colonel Jorge Pérez Amézquita, allegedly involved in the death of Dimar Torres, is trying to obstruct the process against him. The Prosecutor's Office requested that a measure of assurance be applied behind bars. (…) THE PROSECUTOR'S OFFICE'S THESIS. The homicide of Dimar Torres originated, according to the Prosecutor's theory, in an attack on the Caño Limón Coveñas pipeline in which a soldier from one of the platoons under Colonel Pérez's command died. At that moment, the officer ordered that the culprit of the explosion that caused the death of the uniformed man be found.
Source: El Meridiano de Sucre
Date: January 24
Headline: 139 drills
Campetrol reported that as of last December, 139 oil drills were operating in Colombia, which represented a 7.1% increase compared to 2018 (129 drills).
Institutional
Source: Portafolio
Date: January 24
Headline: Under study, development of two other regasification plants
With the awarding of the Pacific regasification plant in Buenaventura just around the corner, the National Government is already considering the eventual development of two similar complexes on the Caribbean coast. (…) “Natural gas is the energy of the transition for electricity generation from thermal plants, and the market needs to be further energized, but reinforcing the supply; for this reason, the experts who participated in the plan recommend the installation of more regasification plants, and how these infrastructures should integrate into the distribution system,” explained the Deputy Minister of Energy, Diego Mesa. (…) Furthermore, the technician brought up the recent contracts signed by the National Hydrocarbons Agency (ANH) for the development of gas fields, and pointed out that a waiting period should be given to this operation regarding the production results of the mentioned fuel.
Colombian Association of Oil and Gas