ACP as a source of information
Source: sostenibilidad.semana.com – National
Date: July 14
Headline: This is how the fracking pilots will be in Colombia
Through a new resolution, the technical criteria for the development of the projects and the general conditions that interested companies will have to follow to carry them out were established. A Transparency Center will be created to disseminate information. Fracking continues to make its way in Colombia. (…) The oil companies that will be responsible for developing the pilots will be chosen after a public call. The National Hydrocarbons Agency (ANH) was empowered to set the competition criteria for selecting the oil companies that will advance the initiatives. (…) Francisco Lloreda, president of the Colombian Petroleum Association (ACP), has stated on several occasions that the pilot projects will allow for knowledge generation, based on science and not on passions. From his perspective, this will be a process that will help the country verify the viability of this technique and generate trust in the regions. A viewpoint shared by the national oil industry, which believes that these projects are essential to obtain information and then make decisions.
GREMIO
Source: La República
Date: July 15
Headline: ETB and Corficolombiana's preferential shares would enter the Colcap index
As every year in July, the Colombian Stock Exchange (BVC) will make adjustments to the Colcap index basket that will take effect on August 1. However, this time there will not only be a rebalancing, but a new issuer will be included, as a result of the pandemic, Avianca left the basket in May, and currently, the main index of the BVC is composed of 19 issuers and not 20 as its methodology stipulates. (…) Chart: The Rebalancing of Colcap. Current Colcap basket for the quarter (as of July 13, 2020) Ecopetrol: 13.889%; Canacol: 1.150%
Source: Portafolio
Date: July 15
Headline: Blackout and rescue of Bioenergy? By: Andrés Espinosa Fenwarth
Bioenergy, Ecopetrol's emblematic bioethanol distillery, began operations in July 2017 in the Meta department with an initial budget of 344 million dollars and a final investment of 750 million dollars. In March 2020, Bioenergy formally adhered to the reorganization rules provided in Law 1116 of Business Insolvency. In June of this year, the alcohol company, which employs 1,300 workers (750 direct and 550 indirect), requested the termination of the reorganization process to proceed with judicial liquidation, based on the decrease in its revenues, the acute illiquidity generated by the lack of financing in line with working capital needs, the poor performance of hydrocarbon prices that prevents Ecopetrol from continuing to provide resources for its operation, and the negative impact of subsidized ethanol imports from the United States, whose wholesalers and local marketers – with exorbitant margins of 37 percent – corner Colombian bioethanol.
Source: El Nuevo Siglo
Date: July 15
Headline: They deliver biosecurity elements to doctors
The companies of the Ecopetrol group delivered medical supplies to support healthcare personnel who save lives day by day, through the campaign «Together we take care of each other.» This includes 20,000 medical clothing kits, 30,000 face shields, and nearly 10,000 liters of glycerin alcohol for hospital staff.
Source: Vanguardia Liberal
Date: July 15
The Health Secretariat of Santander acknowledged that there have been issues with the acquisition of equipment to make it operational. Since March 17, the Departmental Public Health Laboratory in Santander was approved by the National Institute of Health for processing diagnostic tests for SARS-COV2. (…) In this regard, with the commissioning of these two laboratories, there would already be a total of six for more timely diagnostics against this highly contagious virus, which currently has 1,431 confirmed cases in the department. To date, the laboratories of the Industrial University of Santander, Higuera Escalante, International Hospital of Colombia, and Ecopetrol are operating, the latter located in Barrancabermeja.
Source: El Frente
Date: July 15
Headline: Successful virtual business round “We are Colombia.”
The Virtual Round “We are Colombia,” organized by the Chamber of Commerce of Barrancabermeja, the District Mayor's Office, and Ecopetrol S.A., was rated positively, in which 31 local suppliers of goods and/or services presented their business portfolio to the British multinational Compass Group. (…) In this way, the Chamber of Commerce of Barrancabermeja, Ecopetrol S.A., and the District Mayor's Office are joining efforts to strengthen the business offer in the district and the region, making virtual platforms available for commercial exchange, and especially for suppliers of goods and services to present their brand, their company, their offer, and the business objectives of their ventures.
Source: Caracol Radio
Date: July 15
Topics
Source: El Tiempo
Date: July 15
Headline: High demand for oil in 2021.
The Organization of the Petroleum Exporting Countries (OPEC) forecasted that global oil demand will recover strongly in 2021 with a historic increase of 7 million barrels per day (mbd), driven by the expected economic recovery next year.
Source: La República
Date: July 15
Headline: The dollar strengthens against the peso amid new lockdown measures.
At the close of the market on Tuesday, the dollar reached an average price of $3,638.17, which represented an increase of $20.95 against the representative market rate (TRM), which stood at $3,617.22. (…) After starting the day lower, oil prices closed higher, according to prices reported by Reuters. The Brent barrel, a reference for the Colombian market, increased by 0.42%, to US$42.90, while WTI rose by 0.47%, to US$40.29. The good results of the day were related to OPEC indicating in its monthly report that global oil demand will soar to a record seven million barrels per day in 2021, when the global economy recovers from the pandemic.
Source: El Nuevo Siglo
Date: July 15
Headline: Do not throw the keys into the sea
The negotiation, today suspended with the Eln, should not lead to denying the possibility of exploring in the future the possibility of a peace dialogue with this armed group. But not at any price. (…) As an armed faction, the Eln is obliged to respect IHL. This corpus juris precisely governs the minimums that must be respected by the parties involved in an internal armed conflict. This means that actions such as kidnapping or attacking oil pipelines, whose explosions contaminate water sources that supply civilian communities, are actions that are openly contrary to IHL. And, therefore, they must be repudiated from the outset of any new attempt to seek a negotiated solution.
Institutional
Source: El Espectador
Date: July 15
Headline: Caño Mochuelo: a usurped reserve
Displacement, violence, and environmental threat situations are part of the history and present of the communities that inhabit the Caño Mochuelo Reserve, located in the eastern plains of Colombia. Where the Meta and Casanare rivers converge, there is an indigenous reserve that went from having three million hectares to 94,670 in 1986, which today represents for the 803 families of the communities that inhabit it an area smaller than 14 % that they require for their sustenance. (…) It was in 2006 when the Comprehensive Plan of the National Council for the Attention of Displaced Populations prioritized the peoples of the Caño Mochuelo Reserve due to their “high morbidity and mortality rates, progressive decrease in population; eight indigenous peoples coexist in a single reserve, which generates conflicts over territory, food access, and services.” However, between 2011 and 2012, the National Hydrocarbons Agency assigned oil blocks in the Reserve.
Source: El Pilón
Date: July 15
Headline: Gasoline will increase by $111 pesos in Valledupar
Several cities in the Caribbean region such as Valledupar, Barranquilla, Cartagena, and Montería will see an increase of up to $112 per gallon starting this month, as announced by the Ministry of Mines and Energy. In the capital of Cesar, there is an increase of $111; the selling price of gasoline was at $7.412 and will be at $7.523. In this regard, the coordinator of Fendipetróleo, Cesar section, Lily Mendoza Vargas, emphasized that there will be an increase, but it will never match the price of a service station that is not in a border area. (…) Gasoline is a public service provided by a private entity, regulated by the Ministry of Mines and Energy and the Ministry of Finance. It is our responsibility to charge the increased price of gasoline, but our profit margin will remain the same,” Mendoza Vargas noted.
Source: La Cariñosa Barrancabermeja
Date: July 14
Colombian Association of Oil and Gas