Daily news report November 8, 2019
ACP as a source of information
Source: Portafolio – National
Date: November 07
Headline: Agenda. II Oil and Gas Summit
November 13 to 15. The II Oil and Gas Summit, which brings together the main players in the industry, will take place at the Ágora in Bogotá. Organized by the Oil Guild Committee (CGP), the ACP, Campetrol, Acipet, the Acggp, and Aciem.
Hydrocarbons Sector
Source: La República
Date: November 07
Headline: Gasoline price drops $30 on average
The new fuel prices for November can be interpreted as a relief for the wallet. As stated in the resolution, on average, for the 13 main cities in the country, “the prices of regular motor gasoline will have a reduction of $30, while diesel prices decrease by $4.” (…) “Gasoline prices in Colombia have had very few increases this year. Due to decisions from the Ministry of Mines and the Ministry of Finance, it has only increased three times this year. What’s the reason? Mainly due to the exchange rate. Fuel prices are calculated based on the exchange rate, and the rate has increased, but that has not yet been reflected in fuel prices,” explained Carlos Leal, president of the board of directors of Acipet, to LR.
Source: La República
Date: November 07
Headline: Environmentalists on social media. By: Juan Manuel Nieves R.
The measure being considered for regulating shark hunting has been poorly received in some sectors; this animal is especially sought after in Eastern cuisine, and currently, tons of it are hunted and exported worldwide. (…) It is easy to tear one’s garments in response to the trend and use another issue to attack the current government; the truth is that neither sharks are the main environmental issue, nor is their regulation the worst; most, as a result of collective indignation, use it as a reason for new protests; for example, lobster fishing, shovel snail, or the mortality of fish in an attack on a pipeline is more serious. So many improvised environmentalists only protest for a handful of headlines.
Source: La República
Date: November 07
Headline: Oil fell more than 1% after inventory increase
On Wednesday, crude prices recorded declines of more than 1%, declines that reversed the gains of the previous three sessions. According to closing prices reported by Reuters, the Brent barrel fell 1,94% (US$1.22), to US$61.74, while West Texas Intermediate (WTI) futures in the United States dropped US$0.88 (1,54%), to US$56.35 per barrel. (…) On Tuesday, the American Petroleum Institute (API) also reported that crude inventories increased by 4.3 million barrels in the first week of November. According to the institute, crude refining in the United States fell by 112,000 barrels per day, while gasoline stocks decreased by 4.2 million barrels.
Source: Portafolio
Date: November 07
Headline: Saudis excited about the idea of investing in Aramco
In Saudi Arabia, they are striving to raise funds, from loans to asset sales, to invest in the oil giant Aramco, the most profitable company in the world, which confirmed its upcoming IPO in Riyadh, without providing further details about the operation. (…) According to Bloomberg News, Chinese state entities would be in talks to invest a total of between US$5.000 billion and US$10.000 billion in Aramco's initial public offering. The state oil company Sinopec Group, the sovereign wealth fund China Investment Corp, and the Silk Road Fund from Beijing would be some of the entities that have advanced discussions in recent months, taking advantage of Saudi Arabia's search for commitments with allied governments to support a record stock offering.
Source: Portafolio
Date: November 07
Headline: Brazil's oil auction disappoints
Brazil's ‘historic’ oil auction raised less than expected, with Petrobras as the almost exclusive protagonist of an event where the participation of major companies in the sector was anticipated. The auction of four ultra-deepwater (pre-salt) exploration areas in the Santos Bay only received bids for two. The Búzios and Itapú blocks raised 69.960 billion reais (about US$17.000 billion), far from the 106.500 billion reais (US$26.500 billion) expected for all areas. (…) Petrobras was almost the only standout, despite the fact that most of the major companies in the sector - such as the American ExxonMobil, the Norwegian Equinor, and the Anglo-Dutch Shell - were listed in the initial lineup.
Source: Portafolio
Date: November 07
Headline: Crude prices drop due to inventory increase
The price of Brent oil closed yesterday at $61.74, a decline of 1.9%, and the WTI reference also fell by 1.2%. Oil prices dropped yesterday due to the downward pressure exerted by the increase in crude stocks in the U.S. In London, the North Sea Brent barrel for January delivery lost $1.22, or 1.94%, and ended at $61.74. The WTI barrel in New York, for December, lost 88 cents, down to $56.35, after the accumulation of crude inventories in the United States was greater than expected and due to the possibility that the preliminary trade agreement with China could be postponed to December.
Source: Portafolio
Date: November 07
Headline: Minminas announces new fuel prices
On average, the prices of regular gasoline will see a reduction of $30, while diesel prices will decrease by $4. More Information: portafolio.co
Source: El Nuevo Siglo
Date: November 07
Headline: Ecopetrol will hold 51.88% of the shares of Invercolsa
With 51.88% of the shares, the company Ecopetrol became the largest shareholder of the company Inversiones Gases de Colombia (Invercolsa). This increase in participation comes after the court ruling that annulled the purchase of 145 million shares from Fernando Londoño Hoyos in 1997. According to the oil company, “this means that such shares will again be owned by Ecopetrol S.A., which will increase its shareholding in the capital of Invercolsa from 43.35% to 51.88%.” The company clarified that the ruling is pending official notification from the courts.
Source: El Informador
Date: November 07
Headline: Carpers and Tourist Services operators are trained in Environmental Management and Basic English
The Universidad del Magdalena, as a strategic ally of Ecopetrol and the company Buzca S.A Soluciones de Ingeniería, closed the Diploma in Environmental Management and Sustainable Development and the Basic Tourist English Course, certifying 54 members of the associations of fishermen and tourism service operators from Locality III of Santa Marta. (…) In turn, Nirith Toro Ballesteros, Professional of Caribbean Regional Environments at Ecopetrol, stated: “The closure of this diploma in alliance with Buzca and Unimagdalena will benefit the communities where we operate; this process makes us very happy because it is not only an alliance between these entities but also the participants in this process are increasingly empowered, and their competencies are growing in training and in managing the environment of their economic activity.”.
Source: El Meridiano de Córdoba
Date: November 07
Headline: The Caribbean and Córdoba, a tempting investment
The British media Financial Times published an extensive report titled ‘Investing in Colombia: Atlantic Coast’. In this journalistic work, the Financial positively assessed the progress in various areas of the Colombian Caribbean, which, although marked by a history of poverty, is beginning to unleash its potential. «The region is open for business,» says a part of the report. Specifically, in one of the articles that make up the report, titled ‘Why does the Atlantic Region hold the key to Colombia's energy needs?’, the publication specifies that the national hydrocarbon agency (ANH) has signed six exploration and production contracts offshore to search for oil and gas; and one of the blocks to be offered is precisely Córdoba.
Source: El Frente
Date: November 06
Headline: There is still time to apply for scholarships under the agreement with Cavipetrol
With the aim of providing greater opportunities for access and permanence in the Higher Education system, the Pontifical Bolivarian University Bucaramanga Section has extended the registration and application dates for the Scholarship granted under the agreement established with the Employee Fund of Ecopetrol S.A. Workers and Pensioners – Cavipetrol. (…) This scholarship benefits 5 undergraduate students with 80% of the tuition value throughout their career, as well as with financial assistance for maintenance and support.
Source: prensalibrecasanare.com
Date: November 07
At a border control point of the National Army between Arauca and Casanare, a truck belonging to the Machinery Bank of the Casanare Government was detained, which was transporting a tank of fuel, apparently subsidized, purchased at a service station in Tame, with approximately 2000 gallons of fuel, which was being transported to the municipality of La Salina. (…) The controversy arises over the right to the price of subsidized fuel that only corresponds to the border area with Venezuela, that is, Arauca, which has generated reactions in that department, as gasoline and ACPM for internal consumption are running out, due to irregular situations like the one detected with the truck from the Casanare Government. The benefits to fuel prices in these areas are assigned by the Ministry of Mines according to a methodology established by Decree 1073 of 2015.
Source: laopcion.com.co
Date: November 06
Headline: 8000 gallons of fuel were seized in the municipality of Tame
Yesterday, it was reported that a truck was seized, which was transporting approximately 8000 gallons of fuel heading to the municipality of La Salina in the department of Casanare. Seizure carried out by the police authorities of the municipality of Tame. The municipal ombudsman of Tame, Juan Carlos Villate, confirmed to Opción Noticias that the truck was transporting more than 8000 gallons of fuel. (…) He revealed that this same vehicle has a report that in previous days it had carried more than 11 thousand gallons of fuel from Tame. This situation is concerning, given that the Ministry of Mines may take the measure to reduce the fuel quota for the municipality, due to the irresponsibility of people who want to commercialize.
Source: lavozdelcinaruco.com
Date: November 06
Headline: Communities in the oil area of Caricare in Arauca request work instead of football.
The sports committee of the (Community Action Boards of Panama de Arauca JACUP, made up of the veredas in the Caricare influence area, expresses and rejects the non-compliance of Occidental de Colombia, due to the vulnerability of the leaders who represent the communities, being the spokespersons of the communities who transmit the decisions. In signed minutes where commitments were agreed upon regarding the OXY cup tournament, in an act of good faith and in order to continue building dialogue and communication with Oxy, the commitment to start the tournament without uniforms on October 12 was fulfilled, with the responsibility that on October 19 they would deliver them as sports equipment for the proper development of the tournament, which was not fulfilled, the community denounces.
Source: llaneraradio.com
Date: November 06
With the aim of continuing to work on strengthening the quality conditions of public higher education, the National Planning Department, the National Federation of Departments, and the Ministry of National Education will convene more than 15 days in November for the review and approval of projects aimed at strengthening the infrastructure of public Higher Education Institutions, financed with resources from the General System of Royalties (SGR). (…) Of which 9 projects have been approved for more than $83.420 million in 7 departments (See table), and it is expected that by the end of November, 13 more will be approved for $140.367 that will benefit Boyacá, Nariño, Cauca, Tolima, Santander, Antioquia, Casanare, Meta, Cundinamarca, and Quindío.
Source: eldiariodelllano.com
Date: November 06
Headline: Casanare secures Humanitarian Aid Bank for 2020.
The Department has had a stock of humanitarian aid during the four-year term, providing basic assistance to vulnerable families with losses due to fires, strong winds, floods, and landslides. (…) It is worth noting that the government of Josué Alirio Barrera has delivered 36,722 humanitarian aids to 7,345 affected families. The aids were given under the accompaniment and censuses carried out by the relief agencies and Risk Management offices of the municipalities, following the protocols established by the National System for Disaster Risk Management.
Source: violetastereo.com
Date: November 06
Headline: This was the tie-breaker for mayor in Villanueva.
Oswald Fontecha, elected mayor of the municipality, told the morning show Violeta that the counting took place in complete calm until it was known that he obtained 5,713 votes that gave him victory. He thanked his opponents for the tone in which the contest took place and called for leadership to look towards the municipality to solve problems that are still present. Let us remember that Fontecha from the Democratic Center was tied in the same number of votes with Oscar Franco from the Liberal Party in the preliminary informative count, and it was only until the final count that the winner was known. The difference in favor of the elected was 13 votes.
Colombian Association of Oil and Gas