ACP as a source of information
Source: El Meridiano de Sucre – Regional
Date: September 18
Headline: ‘Sound the alarms’
The president of the Colombian Petroleum Association, Francisco Lloreda, said that the oil attacks in Saudi Arabia must «sound all the alarms in the world.».
Source: La FM Radio – National
Date: September 17
Headline: Francisco José Lloreda, director of the Colombian Petroleum Association, explained what effect the attack on the oil refineries in Saudi Arabia has on the Colombian economy.
Source: RCN Radio – National
Date: September 17
Source: rcnradio.com – National
Date: September 17
Headline: The worst would be to return to volatility: Colombian Petroleum Association
Attacks in Saudi Arabia against the oil industry generated movements in crude oil prices. The president of the Colombian Petroleum Association, Francisco Lloreda, stated that the oil attacks in Saudi Arabia should raise all alarms in the world, recalling the importance of several political and geopolitical factors mainly led by the United States. In a dialogue with RCN Radio, the official explained that «we must understand that the origin of this increase (in crude oil prices) is a terrorist attack (...) against the oil industry worldwide, which should raise all alerts.» (…) For Francisco Lloreda, it is advisable to pay attention to what is happening from a political and geopolitical perspective, «with indications from the U.S. to Iran and Saudi Arabia, to take responsibility in terms of security and also military.».
Source: calibuenasnoticias.com – Regional
Date: September 17
Headline: Autonomous corporations will dialogue with the hydrocarbons sector
Currently, more than 50 positive experiences of the hydrocarbons sector and the CAR are being developed in the country. In this space, a report on the management of water resources and wildlife in the country will be presented. This Tuesday, September 17, in Bogotá, the Regional and Sustainable Development Autonomous Corporations, through Asocars, will hold the annual event for engagement with the productive sectors, called: “V Intersectoral Dialogue Environment with the Hydrocarbons Sector – Environmental contribution to local development,” which they organize with the support of ECOPETROL, and the accompaniment of the Colombian Petroleum Association, ACP, and the National Hydrocarbons Agency, ANH. The purpose of this activity, which will take place at the Habitel Hotel throughout the day, is to present the most positive aspects of the relationship between the productive sector and the CAR, from which environmental investments are generated for the benefit of communities and regional and local ecosystems.
Hydrocarbons Sector
Source: El Tiempo
Date: September 18
Headline: Council of State did not stop the tests for ‘fracking’
These tests must meet a series of requirements contained in Chapter 14 of the ‘Report on environmental effects (biotic, physical, and social) and economic effects of hydrocarbon exploration in areas of possible deployment of hydraulic fracturing techniques of generating rock through horizontal drilling,’ prepared by the Expert Commission convened by the Government. (…) For his part, the president of Naturgás, Orlando Cabrales Segovia, pointed out that the pilots will allow determining on the ground whether the regulation is effective in preventing associated risks, as well as determining the economic viability of the deposits. For Germán Espinosa, president of the Chamber of Oil Services (Campetrol), transparency is fundamental in building trust, including the generation of regional and local productive linkages.
Source: El Tiempo
Date: September 18
Headline: After the fall of crude oil, the dollar rises due to the Fed
Unlike Monday, when the dollar, despite the spike in oil prices, also rose in the Colombian market by more than 8 pesos, this Tuesday, when the barrel of the Brent reference dropped by 6.5 percent to 64.55 dollars, the currency rose another 17 pesos, accumulating an increase of 25 pesos in just two days. (…) “It may be that the peso does not fare so badly in this first stage. The bad thing is that if there is an economic recession, oil will fall again; what happens is that Colombia in the midst of an oil shock, is most likely that the dollar will skyrocket while oil falls,” says Felipe Campos, manager of Economic Research at the brokerage Alianza Valores.
Source: El Espectador
Date: September 18
Headline: Interpreting the Council of State. By: Juan Pablo Ruiz Soto
On September 10, the Council of State (CE) published Bulletin 158 titled: “They defeat the proposal that aimed to revoke the suspension of fracking.” This statement generated multiple reactions. According to most interpretations, in addition to the commercial fracking remaining suspended in Colombia, the Comprehensive Research Pilot Projects (PPII) proposed by the Independent Interdisciplinary Commission (2019) will not be able to be carried out. I disagree with that interpretation.
Source: La República
Date: September 18
Headline: Dollar and oil prices go at the pace of the Federal Reserve and Aramco
On the day before the Federal Reserve meeting, and amid the uncertainty generated by geopolitical tensions in the Middle East, the dollar gained $16.59 against the Representative Market Rate (TRM), which on Tuesday was $3,364.43, and reached an average price of $3,381.02. (…) In theory, the dollar and oil prices have an inverse correlation that implies that if one rises, the other falls. As explained by Daniel Felipe Lombana, economic studies analyst at Acción Fiduciaria, this relationship is the result of the high dependence on oil exports, which in Colombia can range from 30% to 45% of the total depending on the month.
Source: La República
Date: September 18
Headline: Dollar at $5,000? By: Luis Guillermo Vélez Cabrera
When the decision of the Council of State regarding the suspension of fracking tests was announced, the Minister of Mines and Energy warned that if there was no possibility in the future to use this hydrocarbon extraction technique, we would soon see a depreciation of the currency that would lead the dollar to be worth $5,000. (…) What the trolls do not say is that the Minister was for several years the director of public credit and knows public finances and international markets like few people. Her job, in other words, consisted of knowing where the dollar was going. And the Minister, now in her capacity as head of the country's energy policy, is saying that if we do not manage to maintain production close to one million barrels of oil in the coming years, which does not seem possible without using alternative hydrocarbon extraction techniques, we will not have enough foreign currency to acquire the imports we need.
Source: La República
Date: September 18
Headline: Council of State does not prevent pilot projects of fracking
Colombia's energy future largely depends on how unconventional reservoir exploration is conducted. Despite the fact that reserve figures are not the best and it had been proposed to give the green light to fracking in Colombia, the Council of State decided to maintain the precautionary measures that are imposed on the regulation of unconventional reservoirs. (…) Today in Colombia there are nine contracts to carry out exploration in unconventional reservoirs, which are currently suspended before the National Hydrocarbons Agency (ANH), but with this decision could be reactivated. These projects are located in the departments of Cesar, Santander, Antioquia, and La Guajira and belong to Ecopetrol, ConocoPhillips, Drummond, and Parex Resources; these companies would be given the opportunity to continue with their projects.
Source: Portafolio
Date: September 18
Headline: Ecopetrol will disburse US$300 million to increase production
With the goal of extracting the highest percentage of oil located in the current producing fields, and thus contributing to the country's energy security in the medium and long term, Ecopetrol will execute investments of around US$300 million in studies and research within its recovery program between the years 2019 and 2021. (…) “Projects and pilots of water injection in fields such as Castilla, Nutria, Tisquirama, and Chichimene; enhanced water injection in Dina K, Yariguí, Casabe, and Chichimene; steam injection in Teca and Nare; and air injection in Chichimene are highlighted,” said Bayón. (…) The World Recovery Forum of the IEA, organized by Ecopetrol and the National Hydrocarbons Agency (ANH), is attended by about 250 experts from oil companies, research centers, and government entities from 20 countries, including the United States, Norway, China, Canada, Japan, the United Kingdom, and Russia, among others.
Source: Portafolio
Date: September 18
Headline: Green light for fracking pilots in Colombia
In a surprising announcement, and when the country's oil sector did not expect it, the Council of State gave the green light to the development of pilot fracking projects in the national territory. Through a statement, the high court of contentious administrative law clarified that the decision made last week by Section Three regarding the maintenance of precautionary measures focused only on the regulations that developed unconventional reservoirs through the aforementioned technique, but not on the experimental projects. (…) For his part, Orlando Cabrales Segovia, president of the Colombian Natural Gas Association (Naturgas), pointed out that the news from the Council of State is positive because the implementation of the pilots will transparently lead the country to monitor processes and results, thus allowing research and science to define the energy future.
Regional News
Source: La Voz del Cinaruco
Date: September 17
Headline: Corporinoquia participates in the conservation agreement that OXY celebrated with the communities in the area of influence of the Lipa lagoon, this in the oil area of Caño Limón
Source: lavozdelcinaruco.com
Date: September 17
Headline: Parex company will make a million-dollar investment in educational establishments in Arauca
Several Educational Institutions in the Department will be equipped by the multinational PAREX, an oil company linked to the department of Arauca in oil exploration and exploitation in the Piedemonte Llanero. As established, the Canadian multinational PAREX will deliver, in the department of Arauca, through the Tax Works Program, furniture, technology, and household items. The endowments will impact 16 Educational Institutions in Arauca, Saravena, and Tame, benefiting 16 thousand students with an investment that exceeds 5.8 billion pesos.
Source: lavozdelcinaruco.com
Date: September 17
Headline: Corporinoquia participates in conservation between OXY and communities of the Laguna del Lipa
An important environmental conservation agreement was signed in the municipality of Arauca, between OXY and the communities in the area of influence of the Laguna del Lipa, where Corporinoquia and the Orinoquia Biodiversa Foundation are the guarantors and overseers of this pact. The agreement aims for the conservation of a specific area in exchange for strengthening productive projects, rotational pasture systems, livestock reconversion, and reforestation, and is in compliance with some forest compensations derived from OXY's activities.
Colombian Association of Oil and Gas