ACP as a source of information
Source: El Espectador – National
Date: August 06
Headline: The formula to reactivate the economy
Dozens of companies, unions, universities, think tanks, and entities participated in consolidating 75 proposals aimed at recovering the economic growth lost due to the COVID-19 crisis. This Government will face the challenge of, at a minimum, advancing the management to approve two structural reforms that should correct some of the largest imbalances in our country: labor and tax. (…) For this reason, it warned that a great pedagogical effort will be necessary to explain to people that the new policies do not correspond to any party, but aim at the progress of the country. It is worth mentioning that the process involved the unions Andi, Amcham, BVC, Confecámaras, Anato, Cotelco, ILO, Asocolflores, Acolgén, ACP, and SAC. The academic contribution came from the universities Javeriana, Nacional, CESA, and ICESI, as well as the Private Council of Competitiveness, Fedesarrollo, and the Foundation Entrepreneurs for Education. And the companies present were Bancolombia, Terpel, Ecopetrol, Grupo Nutresa, Grupo Bolívar, ISA, J.P. Morgan in Colombia, Telefónica, Banco de Bogotá, Farmatodo, Corficolombiana, Decameron, and Grupo Bimbo. It was replicated in:elespectador.com (August 05).
Source: Portafolio – National
Date: August 06
Headline: Arena N, a crude jewel in Putumayo
Among the 35 priority projects in the mining-energy sector that the country has on its radar, one stands out, which is a key piece for the National Government to increase oil reserves. It is Arena N, a hydrocarbon initiative located in the department of Putumayo and developed by the Canadian oil company Gran Tierra Energy. For the Minister of Mines and Energy, Diego Mesa, this block is one of the flagship projects of the current administration, and its priority task “will be to increase reserves to ensure domestic supply in the medium and long term.” (…) For Francisco José Lloreda, president of the Colombian Petroleum Association (ACP), if the information from the National University is accurate, the estimated number of barrels would double the country's current reserves. In the same vein, Germán Espinosa, president of the Colombian Chamber of Petroleum, Gas, and Energy (Campetrol), indicated that the probable reserves in the Caguán-Putumayo basin make the operation attractive for oil companies like Gran Tierra Energy. It was replicated in:portafolio.co (August 05).
Source: BLU Radio – National
Date: August 05
Source: La FM Radio – National
Date: August 05
GREMIO
Source: La República
Date: August 06
Headline: Ecopetrol repeated as the company that sells the most
The national economy recorded a significant acceleration at the end of last year, due to the GDP registering a growth of 3.31%. (…) Ecopetrol's good year, led by Felipe Bayón, achieved these increases thanks to, for example, an investment of US$1.500 billion to develop exploration and production of unconventional deposits in the United States, with the American firm Occidental Petroleum Corp. and the purchase of several oil blocks from Shell in Brazil.
Source: La República
Date: August 06
Headline: Gender equity, a pending task
Women dedicate an average of 25 hours a week to household and caregiving tasks, while men dedicate only seven hours. (…) To improve these inclusion figures, organizations need a cultural change and to eliminate paradigms. María Victoria Riaño, president of Equion Energía, stated that «we need to be more aware. It is not just a matter of percentages of women's participation at different levels, which has improved a lot in many companies, but to go further and be aware of those paradigms and unconscious biases. Likewise, to make the decision and know that we can do better from the very culture of equity, from the example of leaders with coherence, from policies, from inclusive communication.».
Source: La República
Date: August 06
Headline: The 1,000 with the highest income - New investments boosted the hydrocarbon industry
More than 30 contracts signed, 41 exploratory wells drilled, and a growth of 1361% in seismic was the balance left by the hydrocarbon industry in 2019. The National Government aimed for reactivation after five years of not signing new commitments, which created good business opportunities for firms in the sector. (…) Specifically, the vast majority of oil companies and firms in this industry managed to agree on commitments amounting to US$2.700 billion. Ecopetrol's subsidiaries (Reficar and Cenit), for example, advanced in consolidating their business lines and helped boost the group's results.
Source: La República
Date: August 06
Headline: One enters the big leagues with US$162.000 million
It is necessary to sell more than US$162.200 million a year to enter the list of the 1,000 largest companies in the country. This is perhaps one of the main conclusions of the report from the Superintendence of Companies, which highlights that in the last group of companies, from 901 to 1,000, total operational revenues reached US$17.08 trillion, a figure slightly above what Ecopetrol alone, for example, left in profits in 2019.
Source: La República
Date: August 06
Headline: In the capital and its surroundings is 40.61% of the income
The group of 105 companies from Bogotá and Cundinamarca generated revenues of US$354.3 trillion last year, representing an increase of 9.041% compared to the previous year. This figure accounts for almost 40.61% of the sales of the list of the 1,000 companies in 2019. Ecopetrol, Terpel, and Claro continued to lead total sales of companies in this region for another year. Together, the three account for US$105.9 trillion, that is, 29.91% of the income of Bogotá and Cundinamarca and 12.11% of the sales of the 1,000 companies.
Source: Dinero
Date: August 06
Headline: The half-full glass
Ecopetrol continued to generate profits during the first half of the year, despite being one of the most complicated moments for the global and national economy. The good news was presented by the president of the oil company, Felipe Bayón, who confirmed that between January and June, the profits were $158,000 million and the Ebitda reached $7.3 trillion.
Source: Dinero
Date: August 06
Headline: Time to sell
Experts consulted by Bloomberg foresee an expected return of Ecopetrol's stock of only 3.6% in dollars, that is, less than what a Colombian global bond yields at 10 years. With this perspective, for a shareholder of the oil company, like the Government, that stock yields less than what it costs to go into debt. Likewise, it would imply that for the Executive it would be a good business to finance coronavirus expenses with the sale of 8.5% of Ecopetrol, which is already authorized, instead of issuing debt. These calculations may change if oil rises or falls significantly. But for operators, this is not a time for the Government to play trader by betting on an oil price, when it needs money for people to eat and companies not to go bankrupt.
Topics
Source: La República
Date: August 06
Headline: Oil returned to March prices and the dollar fell to $3.775
The Colombian peso showed a slight recovery in the previous session and, with an intraday drop of $17.02 in the exchange rate, the dollar traded on average at $3.775.96. (…) Most currencies and stocks in Latin America operated with gains, after having recorded losses the previous day, taking advantage of the rebound in oil prices and amid a global dollar weakness. For example, according to the latest closing from Reuters, the barrel of Brent crude, a reference for the Colombian market, increased 1.67% to US$45.17, while the international WTI rose 1.18% to US$42.19.
Source: La Voz de Yopal
Date: August 05
Source: dataifx.com
Date: August 05
Headline: Inventory data boosted oil prices this Wednesday
This Wednesday, the prices of the so-called black gold recorded gains motivated by a larger-than-expected drop in U.S. crude inventories. According to data from the Energy Information Administration (EIA), U.S. crude inventories decreased by 7.4 million barrels for the week of August 1, down to 518.6 million. Oil prices rose supported by the EIA figures, which far exceeded analysts' estimates, as they anticipated a decline in crude reserves during the past week of about 4.1 million barrels.
Source: valoraanalitik.com
Date: August 05
Headline: The dollar strengthens in Colombia thanks to oil prices at March levels
The dollar opened today in Colombia at $3.762, which represents a drop of $19 compared to yesterday's close: $3.781. In 47 transactions, US$24.8 million was traded, the highest was for US$10 million. (…) The recovery of the peso is explained by the fact that the oil market is experiencing one of its best performances in the last three months. Brent crude increases 3.47 % and is quoted at US$45.97, numbers not seen since March of this year. At the beginning of the third month of 2020, the price of the barrel was around US$45.27.
International
Source: La República
Date: August 06
Headline: Oil production closed at 735,000 barrels
The Ministry of Mines and Energy, led by Diego Mesa, revealed in its weekly report that the average oil production as of July 30 was 735,000 barrels per day. This represented an increase of 1% compared to what was recorded in June. Meanwhile, the regulated gas reached 1.80 million cubic feet per day as of June 30, which meant a reduction of 5%.
Source: Portafolio
Date: August 06
Headline: Regulation for royalty reform submitted
The bill that will regulate the reform of the General System of Royalties (SGR), approved in December 2019, and which doubles the allocation for producing territories (mining and oil), going from 11% to 25%, was submitted yesterday for study in the Congress of the Republic. The articles were jointly drafted by the ministries of Mines and Energy, and Finance and Public Credit, with the support of the National Planning Department (DNP).
Source: Caracol Radio
Date: August 05
Source: caracol.com.co
Date: August 06
Headline: 720 gallons of contraband ACPM seized in Rio Viejo, south of Bolívar
Actions by the authorities against criminal organizations in southern Bolívar continue, managing to prevent a large amount of fuel from reaching the hands of these groups operating in that area of the country. (…) In the registration procedure, the officers confirmed that the fuel was being transported illegally, as the driver did not provide the documentation required by the Ministry of Mines and Energy for the transport, use, and commercialization of the fuel; the flammable liquid was seized and left at the disposal of the Government Secretariat of Rio Viejo.
Source: valoraanalitik.com
Date: August 05
Headline: Colombia closed July 2020 with a slight increase in oil production
The Ministry of Mines and Energy of Colombia revealed, in its weekly report on mining-energy sector data, that the average oil production as of July 30 was 735,000 barrels per day. The figure, according to the document from the ministry, represents an increase of 11% compared to what was seen in June. (…) According to the Ministry, for the last week of July, the average production of oil and gas decreased slightly compared to the previous week due to operational failures in the Chichimene, Chichimene SW, Finn, Floreña, Pauto Sur, and La Cira Infantas fields.
Colombian Association of Oil and Gas