ACP as a source of information
Source: elnuevosiglo.com.co – National
Date: July 27
Headline: Fracking pilots would only start in the last quarter of 2021
The development of exploration wells has companies on edge, as the contractual regulation and the granting of environmental licenses still need to be supplied. Although the Minister of Mines and Energy, Diego Mesa, recently said that “the administrative acts should be finalized in two months,” in order to develop the pilot project for fracking, (…) At least that is the perception of the Colombian Petroleum Association (ACP). Its president, Francisco José Lloreda, expressed concern about this situation and said that “the time between the procedures, environmental permits, the granting of licenses, and the socialization of the works with the communities could delay the start of drilling.” (…) The other two regulations - which have already surpassed the comment stage and must be issued - are the environmental, by the Ministry of Environment through a resolution, and the contractual, by the National Hydrocarbons Agency in an agreement.
Source: Radio Red – Regional
Date: July 27
Source: Forbes.co – National
Date: July 27
Headline: Felipe Bayón reveals Ecopetrol's ace in the hole amid the crisis
The executive of the Colombian oil and gas company shared details with Forbes about what is coming in terms of fracking, investments, what the lessons of the crisis have been, and how he envisions the end of 2020, one of the most complex years for the sector. It was in the 80s when the Bogotá native Felipe Bayón entered the University of Los Andes in Bogotá to study Mechanical Engineering (…) For Francisco José Lloreda Mera, president of the Colombian Petroleum Association (ACP), the oil and gas industry in Colombia and the world faces two major challenges with a high level of uncertainty: price stability and demand for hydrocarbons. “These are external factors over which Colombia cannot do much, but what we can work on is improving our internal competitiveness, operating costs, the environment in the regions, licensing, pipeline rates, among other measures, that help us come out better from this situation,” concluded Lloreda
GREMIO
Source: La República
Date: July 28
Headline: The Colcap index increased to 1,180 units
The Colcap index of the Colombian Stock Exchange (BVC) started the week with a recovery of 0.581% to 1,180.73 points. During the session, the best-performing stocks were those of Promigas, with an increase of 101% and a closing price of 1,147.370 per unit. (…) Following the list are Mineros, with 2.341%; the preferred shares of Corficolombiana, with 1.181%; Ecopetrol, with 1.131%; Cementos Argos, with 1.101%; and Corficolombiana, with 0.851%.
Source: El Colombiano
Date: July 28
Headline: 11 proposals from the private sector
“To think about an economic rebound, we all need to unite with the goal of recovering the productive fabric of the country in a way that brings more opportunities for people.” This was Juan Carlos Mora's response, president of Bancolombia, when asked what the formula would be to get out of the crisis. The executive was one of those who, like Felipe Bayón, president of Ecopetrol, or Astrid Álvarez Hernández, former president of the Grupo Energía Bogotá, among other 48 businessmen from Ibero-America, signed the report ‘The role of the private sector in times of Pandemic: Ideas for debate’, which compiles proposals from this segment for reactivation.
Source: El Heraldo
Date: July 28
Headline: Gas sector investments amount to USD2.000 million
Naturgas has identified 123 strategic projects that will help the country's economic reactivation and job creation. With the development of investments of USD2 billion ($7 trillion) that will drive the generation of about 20,000 jobs in the national territory, the natural gas sector will play an important role in the country's economic reactivation process, assured the president of the Colombian Association of Natural Gas (Naturgas), Orlando Cabrales. (…) Ecopetrol has announced that its investment plan includes continuing the evaluation and development of offshore gas discoveries made in the Colombian Caribbean. For its part, Hocol, a company present in several departments of the Coast, announced that for 2021 it plans to develop exploratory drilling in the Atlantic, where it has already recorded gas findings in three wells.
Source: Vanguardia Liberal
Date: July 28
Headline: ICUs reinforced on the brink of the pandemic peak
The District is approaching 800 COVID-19 cases, and more than half are active, which is why actions, as the peak of the pandemic approaches, focus on strengthening hospital care. While COVID-19 cases in Barrancabermeja continue to rise, following the spike over the weekend that resulted in the appearance of 100 new patients with the disease, (…) On one hand, Ecopetrol responded to questions about the alleged mass infections that would be taking place in the industrial complex and reported that to date, 3,366 tests have been conducted at the Barrancabermeja refinery. Likewise, the state oil company reinforced its statement by explaining that the number of daily tests for its workers will be increased.
Source: La Nación
Date: July 28
Headline: Humanitarian aid for Huila
In the municipality of Villavieja, Ecopetrol began delivering humanitarian aid to 5,000 vulnerable families in Huila who have been affected by the COVID-19 pandemic. The aid consists of food packages that began to be delivered house to house in coordination with the local ombudsmen and the mayors of Neiva, Aipe, Palermo, Villavieja, Tello, and Yaguará. (…) “The help that Ecopetrol gives us is very important because right now companies are not hiring due to the lockdown, and we do not have money to buy what we need,” said Molina. Elmer Celis Tovar, a resident of the Hato Nuevo village, father of two children, one of whom has special needs, is another beneficiary. “Ecopetrol has not left us alone; we receive these contributions with great gratitude for the crisis we are experiencing,” he said.
Source: pacocol.org
Date: July 28
Headline: Thirty days of workers' resistance defending Ecopetrol
The Minister of Finance, Alberto Carrasquilla, has ordered the presidency of Ecopetrol, the most profitable public company in the country, to sell the productive heart of the national oil industry: Cenit – Ecopetrol S.A. This brand of the national oil company produces about 82% of the profits and is the source of employment for a thousand employees. Its privatization would leave the country without one of its main assets, put its workers on the street, and exacerbate the “bankruptcy” of public sector companies. (…) The strategic and commercial importance of Cenit lies in the fact that thanks to it, Ecopetrol owns 82 % of the oil transportation capacity and 100 % of the transportation through pipelines of gasoline, diesel, and jet fuel. In other words, Cenit guarantees the sustainability and competitiveness of Ecopetrol in the hydrocarbons sector and fuel transportation.
Topics
Source: La República
Date: July 28
Headline: Fracking hearing will be on August 20
The Third Section of the Council of State announced that the reporting magistrate on the case of the viability or not of fracking, Ramiro Pazos, decided to set the hearing for next Thursday, August 20, to study the viability of this technique in the country. This new date comes after the debate was postponed twice in the first half of the year due to the health and economic emergency of covid-19.
Source: La República
Date: July 28
Headline: The Colombian peso is the fourth most devalued currency in the region.
So far this year, the Colombian peso ranks as the fourth most devalued currency in Latin America, with a drop of 10.891%, according to Bloomberg, as the TRM started 2020 at 3,277.14 and ended yesterday's session at 3,678.97, with a slight intraday drop of 1.83%. (…) Experts explain that, without a doubt, the currencies of emerging countries like Colombia were the most impacted by the drop in global markets in March and by the decline in oil prices due to the pandemic and trade conflicts, which brought them to historic lows below US$1 per barrel. (…) Finally, crude oil prices increased. Brent rose to US$43.41 per barrel and WTI to US$41.60, according to Reuters.
Source: La República
Date: July 28
Headline: Gasoline sales fell 22.1% in the first half.
Fendipetróleo revealed that by the end of the first half, there was a 22.1% drop in gasoline deliveries. According to the union led by Juan Carlos Vélez, by June more than 230 million gallons were not sold, which represented 12.3 billion in sales. For now, an alert has been raised, as the continuity of 1,000 service stations is already at risk.
Source: Portafolio
Date: July 28
Headline: Creole demontage. By: Sergio Calderón Acevedo.
At the end of World War I, Germany was subjected to enormous humiliation at the Palace of Versailles, and to the recognition of an unpayable reparation, which led to the bankruptcy of the economy, to default, and to the occupation of the Ruhr in 1923. (…) We are saved from a greater abyss by having exported almost US$18 billion in hydrocarbons, which will soon run out as no one wants to talk about fracking. The largest imports come from 10 groups, led by chemicals, electronics, machinery, transportation material, and food. Yes, Colombia, the green country, champion of biodiversity, imports processed foods and last year US$4.248 million in refined products, despite the fact that we spent a lot on a refinery in Cartagena! Half a century without industrial policy and without mourners has led to the prosperity of oil wells, coal mines, and street sales. Little productive policy.
Source: Vanguardia Liberal
Date: July 28
Headline: Hearing on the study of fracking will be on August 20.
The Third Section of the Council of State announced that the reporting magistrate on the case of the viability or not of ‘fracking’, Ramiro Pazos, decided to set the hearing to study the discussion on Thursday, August 20. In the hearing, all studies related to this type of oil exploitation will be analyzed, in which academia, experts, the union, the Government, and other interested parties participate.
Institutional
Source: La República
Date: July 28
Headline: More than 1,778 million are allocated to cover LPG subsidies.
The Minister of Mines, Diego Mesa, announced that this portfolio executed a new transfer of more than $778.300 million to companies of LPG, electric energy, and natural gas through networks, to benefit users from strata 1, 2, and 3. “With these transfers, the Ministry completes payments of more than $1.8 trillion so far in 2020 to cover the deficit of subsidies for electric energy, LPG, and natural gas through networks that existed to date,” said Miguel Lotero, Deputy Minister of Energy.
Source: Portafolio
Date: July 28
Headline: Mining and oil SMEs will have relief.
The Government is developing a roadmap that seeks not only to lend a hand to the mining and oil SMEs affected by the pandemic but also aims for them to become a key piece in the economic reactivation process. The task is being handled by the National Mining Agency (ANM) and the National Hydrocarbons Agency (ANH), entities that are carrying it out through two strategies, one for each extractive sector, and with which they hope to see results around the corner. (…) And in the field of hydrocarbon operations, the mission of the ANH consists of offering a package of emerging oil blocks, called ‘League B’, among small and medium investors.
Source: Ondas del Meta.
Date: July 27
Colombian Association of Oil and Gas