ACP as a source of information
Source: El Tiempo – National
Date: January 29
Headline: Gas gains more space in oil companies' investment
Oil and gas exploration and production companies will significantly increase the search for new natural gas deposits this year. According to a report from the Colombian Petroleum Association (ACP), this year companies expect to allocate between 920 and 1,000 million dollars to exploration, an 18 percent increase compared to what was invested in 2019. And of this total, the increase in money for gas exploration stands out, as the investment in such projects will be 300 million dollars, a little more than a third of the total. (…) The ACP highlighted as important that 12 percent of the budgeted exploratory investment is considered contingent, mainly because it corresponds to projects in unconventional deposits. And it said that the execution of these will depend on the decisions made by the authorities regarding the comprehensive pilot research projects (PPII) proposed to test the viability of fracking technology in Colombia, and other projects where difficulties are expected due to environmental restrictions in the regions.
Source: El Colombiano – Regional
Date: January 29
Headline: Investment in exploration will grow 18 percent
The Colombian Petroleum Association (ACP) announced the results of its Exploration and Production (E&P) Investment Trends Report in Colombia 2019 and 2020 Outlook, where it was estimated that investment in exploration will grow 18 percent this year, reaching between 920 and 1,000 million dollars. (…) Regarding these estimates, Francisco Lloreda, president of the ACP, stated that “to materialize these investment projections, it is important for Colombia to maintain political stability, continue advancing in contractual and fiscal aspects, work on improving the surrounding conditions, and reduce processing times and transportation costs.”. Responded in: elcolombiano.com (January 29).
Source: El Heraldo – Regional
Date: January 29
Headline: Investment in offshore exploration on the Coast will be USD 260 million
The president of the ACP says that this year investments in exploration and production in the sector will increase and that pilot fracking projects are expected to begin in 2021. The reactivation of the offshore industry is one of the hydrocarbon sector's bets for this year in Colombia, and within this, the Caribbean Coast plays a leading role. In 2020, the drilling of two exploratory wells in the waters of the Colombian Caribbean is projected, which will drive significant investment in the region. For the start of offshore exploratory activity this year, it is expected that the permits and licenses will be issued that will allow work to begin on the two wells, which may yield positive results for gas and oil. Responded in: elheraldo.co (January 29).
Source: Vanguardia Liberal – Regional
Date: January 29
Headline: Santander will receive investments of USD 135 million in oil and gas exploration
For this year, investment in exploration and production is projected at US$ 4.970 million, which would be a 23% increase compared to that recorded in 2019. The Colombian Petroleum Association, ACP, estimates that investment in exploration for 2020 will be between US$ 920 million and US$ 1.000 million, 18% higher than in 2019. Regarding production, it is estimated that investments will be around US$ 4.050 million, that is, 25% higher than in 2019 (US$ 3.250 million). (…) 90% of the investment in crude oil and gas production will be executed in the Llanos Orientales basins, the Middle Magdalena Valley, and Caguán – Putumayo. For oil and gas exploration, Santander will receive investments of US$ 135 million, while in production it will be US$ 560 million. (…) For its part, according to the association, production investments in Meta will reach US$ 1.924 million, Casanare US$ 496 million, Putumayo US$ 239 million, and Arauca US$ 101 million. Responded in: vanguardia.com (January 29).
Source: BLU Radio – National
Date: January 29
Source: prensalibrecasanare.com – Regional
Date: January 29
Headline: Casanare will receive investments for crude oil and gas exploration of US 121 million and for production of US$ 496 million during 2020.
The Colombian Petroleum Association, ACP, estimates that investment in exploration for 2020 will be between US$ 920 million and US$ 1.000 million, 18% higher than in 2019. Regarding production, it is estimated that investments will be around US$ 4.050 million, that is, 25% higher than in 2019 (US$ 3.250 million). A little over 70% of the investments will be carried out onshore and the remainder offshore (open sea) (US$ 250 million to US$ 260 million). For 2020, the ACP estimates that average crude oil production will be around 890 thousand barrels per day and marketed gas production will be close to 1.090 million cubic feet per day.
GREMIO
Source: Portafolio
Date: January 29
Headline: Canacol and Parex, with almost 40% of natural gas
By far, the multinationals Canacol and Parex are becoming two relevant players in gas production in the country, to the point that the two would account for 40% of the business. These Canadian companies, based in Toronto and Calgary respectively, came to Colombia with the intention of developing blocks for crude oil production, but over the years they also bet on gas extraction. (…) In the second auction of the Ppaa, where more than 60% of the blocks offered by the National Hydrocarbons Agency (ANH) were aimed at gas production, the multinational Canacol secured three blocks that were offered for development: VIM-33, VMM45, and VMM49. For its part, Parex also increased its inventory of prospects by incorporating six blocks for both gas and crude extraction.
Source: El Nuevo Siglo
Date: January 29
Headline: Now they will promote the clean growth law
The Government will submit a project called the Clean Growth and Sustainable Development Law in March. According to sources from the Ministry of Finance, this initiative aims primarily to raise resources for the productive reconversion of the country. But at the same time that some taxes are imposed, relief will be given to those companies that implement reconversion programs. (…) Likewise, members of Corona, Alquería, and Parex shared with the Director of the National Water Center, José Manuel Sandoval, their achievements and challenges in terms of sustainability. (…) Likewise, Parex shared its program “Water for All.”.
Source: El Informador
Date: January 29
Headline: Corpamag starts project for the preservation of the caiman and the otter
The corporation, in partnership with the Water and Land Conservation Project, ProCAT, Petrobras, and Ecopetrol, is joining efforts for the conservation of focal species in the Magdalena, such as the needle caiman and the otter. From January 26 to 31, the Regional Autonomous Corporation of Magdalena, Corpamag, and members of the Water and Land Conservation Project ProCAT, are holding the first socialization day of the Focal Species Monitoring Project, in the watersheds of the Piedras, Mendihuaca, Buritaca, and Don Diego rivers, which seeks, with the participation of communities, to generate information that allows decision-making for coexistence with some species, sometimes considered problematic, reducing existing potential risks. In addition, it is expected to guide the zoning and identification of ecosystems and their threats to build joint solutions. This agreement, which also includes Petrobras and Ecopetrol, has a duration of seven months and will focus on monitoring the needle caiman, crocodylus acutus, and the otter, lontra longicaudis, considered umbrella species, endangered.
FSource: El Frente
Date: January 29
Headline: Joint agenda created for the benefit of the Oil Port
The District Mayor's Office of Barrancabermeja has begun to write a new page with Ecopetrol, so that the territory becomes a good ally for the country's development through the state oil company. In a meeting with high-ranking officials of the company, Mayor Alfonso Eljach highlighted that the joint agenda began to be created around issues that have historically been pending, such as water quality, economic diversification, and ongoing projects for Barrancabermeja. “We are working on building an agenda that addresses the interests of Ecopetrol but, above all, of our beloved Barrancabermeja. We can work together and build a city full of opportunities, where families in the District thrive,” said the District Mayor.
Source: El Frente
Date: January 29
Headline: Merged work to boost the economy
In a meeting with officials from the Barrancabermeja Chamber of Commerce, District Mayor Alfonso Eljach announced the creation of the Economic Public Policy. The local leader proposed to the business organization to work shoulder to shoulder to build the strategy aimed at boosting the local economy and improving the quality of life for the people of Barrancabermeja. (…) “With the Chamber of Commerce, we will work in different areas, some traditional like the goods and services table with Ecopetrol, but also others related to economic diversification, cocoa, tourism, and many other sectors where we want to walk hand in hand with organizations that can provide us with the necessary inputs to create new models that generate opportunities and jobs,” he explained.
Topics
Source: El Espectador
Date: January 29
Headline: Priorities to move from speech to practice. By. Juan Pablo Soto
My previous column, «environment and political fracture,» generated extreme reactions. While for some it is a complex and timely analysis, for others it is an irresponsible and disrespectful writing. These latter reactions arise associated with my references to fracking, a topic that distracts from other environmental management issues of greater relevance, as the country must take urgent adaptation and mitigation measures against climate change. These involve young people, entrepreneurs, governments, and citizens in general. (…) Another major issue is the energy transition, where fracking is just one element. To make the transition, a state pact for sustainability is required, which includes the active participation of all social actors. The priority is the management of sustainable territories and the sustainable development of the country: it requires the articulation of social actors around a new way of managing production and consumption, where —among other things— the energy generation and consumption matrix is adjusted.
Source: La República
Date: January 29
Headline: The dollar lost $5.9 against the TRM and closed at $3.386
At the close of the day, the dollar reached an average price of $3.392.50, which represented a drop of $5.9 against the Representative Market Rate (TRM), which stood at $3.398.4. (…) Furthermore, although the correlation between the exchange rate and the price of oil is not perfect at this time as it has been in the past, the appreciation of the local currency was related to the recovery of crude prices. The slight increase in the commodity could be attributed to OPEC and its allies announcing on Tuesday that they want to extend the current oil production cuts at least until June, with the possibility of deeper reductions if demand in China is significantly affected by the spread of the coronavirus.
Source: El Heraldo
Date: January 29
Headline: Dollar falls due to announcements from the US Government
The upward trend that the dollar showed at the beginning of the week was halted yesterday after the announcements from the US Government regarding the containment of the coronavirus in its territory. On the previous day, the currency, which recorded an average price of $3.398 on Monday, stood at $3.392.50. The maximum price was $3.397.60 and the closing price was $3.386.00. After the announcement from the US Government, investors showed a greater willingness to take risks, which was reflected in the recovery of 1% in the S&P 500 stock index. (…) In London, the Brent barrel for delivery in March rose 0.3% to USD59.51, while in New York, WTI crude increased 0.6% to USD53.48.
Source: Vanguardia Liberal
Date: January 29
Headline: Duque promises one thing and does another? By Jairo Puente Bruges
At the recent World Economic Forum held in Davos (Switzerland), it was reported that one of the purposes of the presence of Uribista President Duque was to “unite international efforts for the protection of the environment.” Among other things, Duque stated: “the main challenge of our time is climate change” (El Tiempo, January 22). However, one thing is claimed abroad and another is what his government does in Colombia. For example, last December the national government presented two draft decrees that go against his statements. One to advance pilot projects in unconventional deposits applying the questioned fracking; whose regulations were suspended by the Council of State. Let us remember that during the electoral campaign, then-candidate Duque committed to not developing “any fracking project.”.
Institutional
Source: La República
Date: January 29
Headline: Colombia must be an energy power
It is the generation of energy! That could well be the battle cry of the Colombian economy for the next decade if the recommendations made by the 20 experts who formed the Mission for Energy Transformation to the National Government are applied, who analyzed for nine months where we come from and where we are going in one of the determining lines for the immediate future. (…) But beyond its necessary implementation, total, partial, or selective, the sector must walk alongside the fracking pilots, as it is inconceivable to make plans for what to do with gas or oil if the minimum supply, exploration, and exploitation for the coming years are not guaranteed. In short, the first thing the Ministry must do is to mint, support, and expedite the pilots planned on hydraulic fracturing or hydraulic stimulation that will not only increase the extraction of gas and oil from the subsoil but will also guarantee the necessary reserves so that productive sectors can make real business plans with low fuel prices, as it is not the same to import as to buy local products.
Source: El Nuevo Siglo
Date: January 29
Headline: Ministerial shake-up: What do the parties want (off the record)?
The collectives are waiting for the representation that the President of the Republic would give them in the national Executive. EL NUEVO SIGLO consulted the political parties about this. THIS WEEK would be the ‘D-Day’ for President Iván Duque to define the party quotas in the ministries. According to a source from the high Government who spoke to EL NUEVO SIGLO, the shake-up would be ready before the end of the week. (…) Another member of that collective said that “we still do not know how many seats we will have in the cabinet, for us it would be perfect if we were given four portfolios, such as Health, Justice, Education, and Mines. We are interested in pushing our government agenda that focuses on those issues. Some have even said that it would be better not to accept anything.”.
Colombian Association of Oil and Gas