ACP as a source of information
Source: Portafolio – National
Date: January 08
Headline: Colombia, with the fourth cheapest gasoline in all of South America
The equation that the National Government has been developing to give greater competitiveness to liquid fuel prices in the country is yielding good results. For the fourth consecutive year, Colombia occupies leading positions in gasoline and diesel rates worldwide. (…) “The gasoline formula aims to generate price stability for fuels, stability that does not mean they remain static, but rather that they moderate the impacts of increases and decreases. Currently, Colombians are paying a lower price for gasoline than its international equivalent,” said María Fernanda Suárez, Minister of Mines and Energy. (…) For the Colombian Petroleum Association (ACP), the wholesale margin represents only 5% and the retail 9% of the final price to the public. Thus, the variation in gasoline and diesel prices for the end consumer basically depends on the monthly adjustment of the Income to producers, both of fossil fuels and biofuels.
Source: Radio Red – Regional
Date: January 07
Source: Radio Red – Regional
Date: January 07
Guild
Source: El Nuevo Siglo
Date: January 08
Headline: National Strike Committee says it is ready to meet with the Government
Despite press reports claiming that Diego Molano, an official appointed by President Duque for the table held with the National Strike Committee, aimed at seeking solutions to the demands of citizens expressed in the marches and protests last November, said that conversations will resume on January 19, the reality is that this block, which groups various social sectors, has not been notified in this regard, according to Diógenes Orjuela, president of the Central Unitaria de Trabajadores (CUT). (…) Unofficially, it has been known that among the points the Executive rules out discussing is reviewing the national defense and security policy, as well as the State regaining 100% of the shares of Ecopetrol.
Source: El Nuevo Siglo
Date: January 08
Headline: They propose that state entities buy part of their food from small producers
EL NUEVO SIGLO: You lead a project that seeks for state entities to buy food from producers of peasant, family, and community agriculture, what are the key aspects of the initiative? SILVIO CARRASQUILLA: This is a project we are working on with the Administrative Unit of Solidarity Organizations thinking about giving justice to those who truly deserve the profits or gains in the entire food chain of the country. (…) Which ones? It could even be Ecopetrol, if it buys raw products for meals, the same Public Force, the National Army, the Police. Everyone who buys food, 10% buys it directly from the peasant.
Source: El Heraldo
Date: January 08
Headline: Oh surprise! By: Amylkar D. Acosta
Only four days had passed since the presidential sanction of tax reform 2.0, on December 31 of the previous year, when the Minister of Finance Alberto Carrasquilla, with prior authorization from the Council of Ministers in a virtual session, issued Decree 2412 of 2019, “by which some appropriations in the General Budget of the Nation for the fiscal year 2019 are reduced.” (…) The difficulties in which Minister Carrasquilla finds himself to balance the budget reveal that the juggling he resorted to in order to evade the fiscal rule by simulating compliance, passing off current spending as financing and settling debts through the issuance of TES, paying debt with debt, was not enough. Not even counting on extraordinary income from the profits of the Bank of the Republic amounting to $8 billion and $3.2 billion that Ecopetrol transferred to him.
Source: ADN Bucaramanga
Date: January 07
Headline: Do not fall for false job offers in the oil sector
Ecopetrol reported that unscrupulous individuals are posing as officials from the Human Resources area of the oil company to offer false job placements on the Caribbean Coast, in exchange for money deposits, for procedures related to their relocation and accommodation. The scam consists of contacting recently graduated professionals, without experience, to whom they offer direct employment with Ecopetrol through a supposed induction process that takes place at the Coveñas Maritime Terminal, in the department of Sucre.
Source: La Nación
Date: January 07
Headline: The House of Huila is the ‘Embassy‘ of the opitas in Bogotá
The House of Huila in Bogotá has become the ‘embassy’ of the opitas in the capital of the country, where the Governor, mayors, guilds, and other huilenses came to seek advice and support. And even to advance their main social, cultural, and folkloric events. (…) From there, international cooperation was also strengthened with project management that allowed leveraging resources from China, Italy, the Netherlands, and Usaid, which guaranteed investments for technological equipment, agriculture and sustainable tourism, cocoa, among others. And important projects presented by the Department to Ecopetrol and Hocol were monitored, including the Materno Infantil Tower in Neiva, as well as works in Yaguará, Aipe, Baraya, Palermo, among other municipalities.
Source: Hoy Diario del Magdalena
Date: January 07
Headline: Oh surprise! By: Amylkar D. Acosta M
Only four days had passed since the presidential sanction of the controversial Law 2010 “through which norms are adopted for the promotion of economic growth, employment, investment, strengthening of public finances, and the progressivity, equity, and efficiency of the tax system,” (…) The difficulties that Minister Carrasquilla is facing to balance the budget reveal that the juggling he resorted to in order to evade the Fiscal Rule by simulating compliance, passing off current spending as financing and settling debts through the issuance of treasury securities (TES), paying debt with debt, was not enough. Not even counting on extraordinary income from the profits declared by the Bank of the Republic, which the Government did not anticipate, amounting to $8 trillion and $3.2 trillion from the distribution in the extraordinary Assembly of ECOPETROL of its “occasional reserve.”.
Source: Caracol Radio
Date: January 07
Source: RCN Radio Santander
Date: January 07
Source: eltiempo.com
Date: January 07
Headline: Teca-Cocorná Project started 2020 with production record
With a record production of 1,931 barrels of oil, the Teca-Cocorná project began the year 2020, which is developed in the Magdalena Medio subregion of Antioquia through an alliance between Ecopetrol and Occidental Andina. The figure surpasses the highest peak recorded on April 15, 2010, when the project's production reached 1,919 barrels of oil per day. The Teca-Cocorná field has been operated by Ecopetrol since May 2010 and is currently developing a pioneering thermal recovery project in partnership with Occidental Andina with continuous steam injection, which is in its Phase II.
Source: larepublica.co
Date: January 07
Headline: Crude prices deepen losses, Brent falls more than US$1 to session low
The global tension led by the United States and Iran has been reflected in the price of oil. For example, with the market opening, it was reported that «the exchange of threats between the United States and Iran raised the price of Brent crude oil to US$68.79, while Texas WTI rose to US$63.27,» said Diario Financiero. (…) US producers celebrated the news: the giant Exxon Mobile rose 1,33%, accompanied by a more timid increase in Chevron. In addition, US firms Laredo, Baytex, Denbury, EOG, Centennial Resources, Bonanza Creek, Oasis Petroleum, Occidental Petroleum, and Pioneer Natural Resources rose more than 3% in the stock market yesterday. The European giant BP Plc recorded an increase of 2,03%," reported the Chilean newspaper.
Source: larepublica.co
Date: January 08
Headline: Bancolombia and Ecopetrol were the most traded stocks in December
During December, $2.1 trillion was traded in the stock market, representing a decrease of 34% compared to November, according to a report by Alianza Valores. Additionally, Bancolombia, with $346.600 million; and Ecopetrol, with $328.000 million, became the most traded stocks, followed by Aval, with $192.000 million. The report also showed that during December, ETFs (Exchange Traded Funds) showed their lowest value in ETF destruction of the year, standing at 0.06 million units. This had not been seen since October 2017 when the destruction was 0.87 million, highlighting that in the year, the created units were 63.4 million, having a decrease of 10.3% compared to 2018.
Source: elfrente.com.co
Date: January 07
Headline: Scammers offer jobs at Ecopetrol
The oil company reported that individuals not affiliated with the company are offering job opportunities on the Atlantic coast. The alleged scammers contact newly graduated professionals with no experience, offering them direct employment with Ecopetrol through a supposed induction process taking place at the maritime terminal of Coveñas, in the department of Sucre. These individuals pose as officials from the human resources department and ask for money deposits in exchange for processing related to the relocation and accommodation of the applicants.
Source: valoraanalitik.com
Date: January 07
Headline: Geopark oil company reached new production record in 2019
The oil company Geopark, which operates in Colombia, Argentina, Chile, and Brazil, revealed today that during 2019 it achieved a consolidated production of crude oil and gas of 41,786 barrels of oil equivalent per day (boepd), increasing by 8%. It stated that its average production for the entire year of 2019 was 40,046 boepd, 11% more than the average annual levels of 2018. (…) For Geopark, the year 2019 was also one of high growth in its investment portfolio after announcing the purchase of all operations of the oil company Amerisur. Additionally, it acquired new low-cost and low-risk exploration blocks in the Llanos basin near the central Llanos 34 block in partnership with Hocol (a 100% subsidiary of Ecopetrol).
Topics
Source: Portafolio
Date: January 08
Headline: The price of crude oil fell despite the tension between the U.S. and Iran.
The price of oil per barrel fell this Tuesday despite the persistent tension between Washington and Tehran. In London, the benchmark Brent for March delivery fell 0.91% to $68.27. The market feared a disruption in global oil trade, but this Tuesday prices «remained almost at the levels prior to the death of General Soleimani,» said Robert Yawger of Mizuho, emphasizing that «the market is impatient and nothing concrete has happened so far.» In that context, the analyst added, traders are aware that the global supply of crude is abundant. For its part, the price of West Texas Intermediate (WTI) oil closed on the same day with a decrease of 0.91% and stood at $62.70 per barrel, in a truce after two days of increases (...) Prices also fell despite greater compliance by OPEC with the production quota restrictions aimed at reducing supply globally.
Source: Portafolio
Date: January 08
Headline: An uncertain start. By: Francisco Miranda
At the end of last year, a good part of analysts identified geopolitical factors as one of the main sources of risk for the good performance of the global economy in 2020. (...) The hard blow dealt by Washington to the Tehran regime heightened political and economic tension around the globe. Not only because Soleimani was Iran's right-hand man and military leader but also because it raised the risk of military confrontation in the world's most important oil-producing region. (...) Economically, as expected, the price of oil shot up to $70 per barrel, and gold reached its highest level in 7 years. Investors sought safe-haven assets during the crisis.
Source: El Colombiano
Date: January 08
Headline: Oil fell despite tension with Iran.
According to the AFP agency, oil fell on Tuesday, despite the crisis following the death of Qasem Soleimani from a U.S. airstrike. In London, the Brent barrel for March delivery fell 0.91% to $68.27, and in New York, WTI ended at $62.27 after also losing 0.91%.
Source: larepublica.co
Date: January 08
Headline: OPEC seeks to calm crude market amid Middle East tension.
OPEC and one of its largest producers attempted to calm concerns about oil supply from the Middle East on Wednesday after Iran launched missiles at U.S. forces in Iraq. Global crude markets are well supplied, and the Organization of the Petroleum Exporting Countries and allied producers will respond if necessary to the rising tensions in the region, said the UAE Minister of Energy, Suhail Al Mazrouei, to the press in Abu Dhabi. The growing conflict between the U.S. and Iran does not pose a risk to the Strait of Hormuz, a choke point for oil shipments from the Persian Gulf, he said. (...) The demand for oil is healthy, and growth in U.S. shale supply is moderating, he said. OPEC agreed last month to deepen production cuts until March in an attempt to deplete inventory surpluses and support crude prices.
Institutional
Source: El Espectador
Date: January 08
Headline: «Fracking,» technical and political controversy. By: Juan Pablo Ruiz Soto
The discussion about fracking is technical and political. It is a mix, where politicians rescue technical arguments and technicians provide information to politicians. The Independent Interdisciplinary Commission, convened by the Colombian Government in October 2018, which delivered its recommendation in April 2019, neither said yes nor no to fracking. It recommended investigating, understanding, evaluating, and making determinations. As part of the process, it proposed comprehensive research pilot projects, understood as exploratory research projects, controlled, transparent, and with independent verification (PPII). To advance with the PPII, the Government must establish specific regulations. From this, the ANLA must establish terms of reference for the preparation and execution of environmental impact studies. (...) The Ministry of Mines and Energy has just published and put forward for public consideration a proposed regulation for the execution of the PPII.www.minenergia/proyecto of decree PPII) and has called for a special meeting on January 16 to directly receive comments from the public. It is time to review the proposal and suggest adjustments.
Source: El Nuevo Siglo
Date: January 08
Headline: Naturgas supports fracking projects
Full support for the components of transparency and institutional strengthening that the Ministry of Mines and Energy included in the initiative that defined the guidelines for fracking projects in the country, expressed the Colombian Association of Natural Gas (Naturgas). (…) Likewise, Naturgas clarified that according to technical concepts on fracking and institutional information, Drummond has not carried out hydraulic fracturing in horizontal wells (fracking). On the contrary, it has exploited methane gas associated with coal seams using traditional stimulation techniques in vertical wells as has been done in the country by different companies for several decades. “Drummond currently has a contract with the National Hydrocarbons Agency, and an environmental license for the exploration and exploitation of the La Loma field, which was acquired according to current regulations. We respectfully request the Council of State to review the decision to declare the company in contempt and allow the development of methane gas wells from coal that, among other things, helps reduce gas emissions in the mining project,” concluded Cabrales Segovia.
Source: El País
Date: January 08
Headline: «Pilot fracking projects are essential»
The Colombian Association of Natural Gas, Naturgas, celebrated the publication of the draft decree through which the Government sets the guidelines for advancing pilot projects in unconventional hydrocarbon deposits using hydraulic fracturing, also known as fracking. The document was published by the Ministry of Mines and Energy on December 26. (…) «If this Decree is signed, Colombia will take an additional step to ensure the long-term supply of gas and oil,’ added Cabrales. The Government plans to hold a meeting with citizens and critics of the decree on pilot ‘fracking’ projects on January 16.
Source: El País
Date: January 08
Headline: Uribistas question the new Minister of Science
She is in the wrong place. That is what some members of the Uribismo have expressed to the appointed Minister of Science and Technology, Mabel Torres, who after being sworn in has already had to face harsh questioning regarding her stance on the use of fracking in Colombia. Torres said that «fracking is an unsustainable practice» and related it to the damage it causes to the environment and the population, considering that it should not be an alternative to gain productivity and competitiveness for the country. The first to question the new official was the former presidential candidate for the Democratic Center, Rafael Nieto Loaiza, who told her from his Twitter account that she should not be in a Government with which she has differing opinions. (…) As is known, in statements made after her appointment, the new Minister of Science and Technology expressed herself against what her colleague from Mines, María Fernanda Suárez, has stated, who has promoted fracking to increase oil exploitation and reserves in the country.
Source: El Nuevo Día
Date: January 08
Headline: Naturgas calls for the advancement of the fracking pilot in 2020
Through a statement, the Colombian Association of Natural Gas (Naturgas) reaffirmed its support for the Ministry of Energy in the development of exploration activities in ‘Comprehensive Research Pilot Projects’ in unconventional deposits. Regarding the position of the guild, Orlando Cabrales Segovia, president of Naturgas, stated: “The country needs to advance in the utilization of hydrocarbon resources it has in the subsoil, through scientific tools that meet the highest environmental and technical standards. To achieve this, it is essential to have pilot fracking projects (as recommended by various expert commissions) that have continuous supervision and monitoring at each of their stages.
Colombian Association of Oil and Gas