ACP as a source of information
Source: millanotv.co – Regional
Date: March 03
Headline: Positive balance given by Rafael Herz, Vice President of Operations and Sustainability of ACP Mi Llano TV
After the meeting of the Oil and Gas Industry with Local Leaders, the Vice President of Operations and Sustainability of the Colombian Petroleum Association ACP, gave a very positive balance of the day as the socialization and working mechanisms were achieved at the moment when the reform to the royalties law is implemented and comes into operation, which significantly increases the resources that producing departments and municipalities would receive. Likewise, he stated that the leaders and the industry are finally on the same side of the table where all efforts aim for the development of an oil activity that benefits communities and generates development, and for that, it is necessary to continue in the working tables to articulate efforts and seek alternatives that generate development for the territories.
Source: casanarenoticias.com – Regional
Date: March 03
Headline: El Morro community marched peacefully demanding labor inclusion in the oil industry
This Monday, dozens of people staged a peaceful march in the municipality of Yopal. The demonstration was led by residents of the El Morro district, which started from the urban area of the capital of Casanare towards the head of the district, who asked Ecopetrol for job opportunities and social investment for the community in the sector. The large demonstration was also accompanied by Congressman Cesar Zorro, where they also called for the release of imprisoned social leaders. (…) Finally, the march was carried out normally, in parallel with a meeting held by department leaders along with representatives of the National Government and the Colombian Petroleum Association. (…) Ecopetrol reaffirms its openness to constructive dialogue with communities, in the presence of institutions and in order to reach agreements that contribute to the sustainable development of the territory.
Responded in: laschivasdelllano.com (March 03).
Source: Violeta Estéreo – Regional
Date: March 02
GREMIO
Source: El Tiempo
Date: March 03
Headline: Ecopetrol proposes to retain the 38% of the dividend
The Colombian oil company Ecopetrol unveiled its proposal for the distribution of profits approved by the board of directors, which, it indicated, «is aligned with the company's dividend policy (between 40 and 60 %).» Based on this policy, it proposes to distribute an ordinary dividend equivalent to $ 180 per share, which would benefit, in addition to government revenues, 250,000 Colombians as minority shareholders. (…) It should be noted that Ecopetrol closed last year with a growth of 14.6 % in its net profits, which totaled $ 13.3 trillion, the highest figure in the last six years. This is precisely what allows the proposed distribution. This result evidences the increase in both production and reserves, while also reflecting the efficiency that the fracking businesses with Oxy in the United States are having.
Source: La República
Date: March 03
Headline: Mining-Energy Sector: balance of 2019 and perspectives. By: Mauricio Santa María S.
Recently, Dane revealed that Colombia's GDP had a real growth of 3.31% in 2019 (it had been 2.51% in 2018), above market expectations and some analysts (see Weekly Report No. 1498 of February 2020). For its part, the mining-quarry activity had a growth of 2.11%. (…) For 2020, investments of about US$5,000 million are projected for oil and gas, allocated 80% to production and 20% to exploration. While most of those resources would go to drilling development and exploration wells on land, the focus will continue to be on increasing the recovery factor (currently at 19%) and offshore exploration (where there is a potential of 12 billion barrels just in the Colombian Caribbean basin). Regarding risks, those associated with the restriction on implementing well drilling through fracking remain (the launch of pilot plans has been postponed until 2021), as not all potential would be utilized.
Source: La República
Date: March 03
Headline: The Nation would receive 6.5 trillion in profits from Ecopetrol following a proposed dividend of 180 per share.
Seven days after announcing that in 2019 revenues reached 70.8 trillion and profits of 13.3 trillion, Ecopetrol announced its proposal for profit distribution. The oil company announced that it will propose a dividend of 180 per share, with the aim of transferring a total of 7.4 trillion to all shareholders. (…) “The distribution will depend on the decision made by the Shareholders” Assembly. We have a very clear dividend policy, which is to distribute between 40% and 60% of profits. We have demonstrated that it is possible to provide a good return to shareholders,” explained Felipe Bayón, president of Ecopetrol. (…) This was confirmed a few days ago by Bayón, who emphasized that the company will be cautious regarding the Covid-19 issue and its impact on oil prices. Hence, there is no extra amount and a sum will be left for an occasional reserve.
Source: Portafolio
Date: March 03
Headline: Ecopetrol would distribute 56% of its profits among shareholders.
Ecopetrol's operation continues to sail smoothly, and a sign of this will be the proposed profit distribution project approved by the Board of Directors in recent days. The intention of the governing body of the oil company, as well as its management, is to present to the Ordinary Shareholders“ Assembly, on March 27, the distribution of an ordinary dividend equivalent to 180 pesos per share. (…) ”With the receipt of Floreña and Pauto, Ecopetrol consolidates its presence in Casanare. The Company will execute an integrated operation strategy for all Piedemonte fields, including the Cusiana, Cupiagua, and Recetor assets, to contribute to the gas supply of the region and the country. The combined production of these fields totals 149,000 barrels of oil per day and contributes 50% of the gas that the country demands,” expressed the president of Ecopetrol.
Source: El Colombiano
Date: March 03
Headline: Guide to understanding Ecopetrol's dividend.
This year, the largest oil company in the country will deliver 180 pesos per share to its shareholders; how positive is that? Excluding extraordinary benefits per share delivered in 2019, but from the 2018 period, the profit from holding an Ecopetrol share rose 6.5% from 169 pesos to 180 pesos each. However, last year with the additional benefits, the dividends delivered totaled 314 pesos for the 41,116,694,690 shareholders. The proposal for distribution in 2020 will be submitted to the General Assembly, scheduled for March 27 of this year, and according to the company, “it is aligned with the dividend policy,” which states that the resources to be distributed should be between 40% and 60% of net profit (see What’s next?). An aspect that, according to Felipe Agudelo, analyst and equity strategist at Alianza, provides a sense of calm as it shows that it is in line with a corporate decision rather than one from the Government.
Source: Vanguardia Liberal
Date: March 03
Headline: Sowing peace in the San Rafael Plateau.
“This activity is the most interesting that Ecopetrol is carrying out; here life is being sown, we need to reforest this area, and hopefully, all the owners of these lands can join this activity,” with these words, the president of the Community Action Board of the San Rafael Plateau, Fabio Alonso Hernández Cáceres, referred to the activity held yesterday, in which 150 native trees of the region were planted on the Miralindo property during Sustainability Week in Magdalena Medio. The green festival was organized by Ecopetrol and included participation from the community, students, authorities, and even the parish priest of the La Fortuna district, who planted guayacán, sapán, naunos, yarumo…, which promotes the recovery of areas with native species, helping the development of the vegetation cover of the riparian forest.
Topics
Source: La República
Date: March 03
Headline: The price of the dollar fell to 3,513 after the recovery of oil.
March began with a slight recovery in the exchange rate, which led to the dollar falling to $26.71 and trading at an average of $3,513.15. Despite this, the Colombian peso continues to be the fourth currency in Latin America that has experienced the greatest devaluation against the dollar in the last month, with a drop of 2,14%. One of the main reasons for this better performance of the local currency was the recovery in oil prices which, according to Reuters' closing, rose more than 4%. The WTI benchmark barrel increased by 4,45% and reached US$46.75 and Brent rose by 4,49% to US$51.90.
Source: Portafolio
Date: March 03
Headline: ‘This year the FTA between Colombia and Israel will come into effect’
Since 1949, Colombia has built a lasting relationship with Israel. Remembering this, President Iván Duque announced that this year, “we are going to implement the Free Trade Agreement with Israel to freely move investment, entrepreneurship, science, technology, and agricultural development between our two countries.” (…) The Israeli market offers opportunities for fuels in products such as coffee, precious stones, coal, petrochemicals, wood, confectionery, leather, flowers, and Colombian panela. Likewise, it will promote the expansion of bilateral investment flows and the creation of new businesses.
Source: Portafolio
Date: March 03
Headline: Global economy prepares ‘weapons’ to combat coronavirus
The new coronavirus, covid-19, has already recorded confirmed cases in at least 71 countries and presents more than 90,000 infected, while it has claimed the lives of 3,200 people. (…) Finally, there is another measure that may be adopted soon to help oil. At the end of this week, OPEC and allied countries will meet, which could define the implementation of a new cut in their oil production, which has been discussed could exceed 500,000 barrels per day of crude. An improvement in the markets. Following the sharp declines of last week, which led Wall Street and European stock markets to present their worst days since the 2008 crisis, yesterday was a day of significant rebounds in the U.S. market. The Dow Jones showed an increase of 5.09 %, while the S&P500 increased by 4.6 % and the Nasdaq by 4.49 %.
Source: El Nuevo Siglo
Date: March 03
Headline: Exports increased in January due to fuel and mining sales
Thanks to the contribution of fuels and mining, Colombian exports increased by 11.7% and reached US$3,423.7 million, compared to the same period last year. According to DANE, this result was mainly explained by the growth of 27.2% in external sales of the Fuels and Extractive Industries group. In the reference month, this item accounted for 60.9% of the total value of exports; likewise, Manufactures accounted for 16.1%, Agricultural products, food, and beverages 19.7%, and other sectors 3.2%. In January 2019, 18.3 million barrels of crude oil were exported, representing a decrease of 1.5% compared to January 2019.
Institutional
Source: Boyacá 7 Días
Date: March 03
Headline: Could go on to preside over ANH
The Deputy Minister of Transport, Juan Camilo Ostos, who will leave that position in the middle of this month, is rumored to be the new president of the National Hydrocarbons Agency (ANH).
Source: prensalibrecasanare.com
Date: March 03
Headline: Eight of the 10 main natural gas projects in Colombia are in Casanare
Colombia aims to increase natural gas production to meet the growing demand from thermoelectric plants, industrial consumers, households, and the transportation sector. The production of the fossil fuel showed a year-on-year increase of 9.41% in 2019 to 1,068 million cubic feet per day (Mpc/d), according to official figures. The largest producer was the state-owned Ecopetrol, followed by Chevron, GeoProduction, and Hocol, according to data published by the Ministry of Mines and Energy. The Pauto Sur area operated by Equión was the most prolific field with 424 Mpc/d, followed by Cupiagua, controlled by Ecopetrol, with 316 Mpc/d. Minminas revealed a list of the 10 highest-producing fields from last December, according to figures from the industry regulator, ANH.
Source: laschivasdelllano.com
Date: March 03
Headline: The National Government already has the law ready to implement it.
This was stated by the delegate of the Ministry of Mines and Energy, José Insuasti, who affirmed that they have every intention of fulfilling their commitments to the producing territories, which is why they are already socializing the details of the regulation resulting from the reform of the general royalties system, where territories like Casanare, being producers, increase the percentage of direct royalties. The ministry is advancing all working groups to have projects ready with local leaders and to be able to show results as soon as possible.
Colombian Association of Oil and Gas