ACP as a source of information
Source: elinformador.com.co – Regional
Date: June 09
Headline: Includes Energy Minister in group of most influential women in the sector
The minister expressed the importance of preparing women in the country to achieve more gender balance in the workplace. The Minister of Energy, María Fernanda Suárez, was chosen by the Women's Energy Council to be part of The Global Female Influencer 275, which brings together women from 42 countries who inspire transformative leadership in the oil, gas, and energy industries. (…) »In ten years, I hope to witness an energy sector where at least 50% of technical and high-level positions are held by women, thus breaking the paradigm that electricity, mining, oil, and gas are male-dominated industries,» added Minister Suárez Londoño. (…) To this end, a Public-Private Partnership will be formalized, in a first phase, with the Colombian Mining Association (ACM) and the Colombian Petroleum Association (ACP), and then a work plan will be developed. An action plan with the entities attached to the Ministry of Mines and Energy is also planned.
Source: periodicolaguajira.com – Regional
Date: June 09
Headline: Includes Energy Minister in group of most influential women in the sector
The minister expressed the importance of preparing women in the country to achieve more gender balance in the workplace. The Minister of Energy, María Fernanda Suárez, was chosen by the Women's Energy Council to be part of The Global Female Influencer 275, which brings together women from 42 countries who inspire transformative leadership in the oil, gas, and energy industries. (…) »In ten years, I hope to witness an energy sector where at least 50% of technical and high-level positions are held by women, thus breaking the paradigm that electricity, mining, oil, and gas are male-dominated industries,» added Minister Suárez Londoño. (…) To this end, a Public-Private Partnership will be formalized, in a first phase, with the Colombian Mining Association (ACM) and the Colombian Petroleum Association (ACP), and then a work plan will be developed. An action plan with the entities attached to the Ministry of Mines and Energy is also planned.
Source: gestión.pe – International
Date: June 09
Headline: Number of active drilling rigs drastically decreases in Latin America
Baker Hughes recorded 25 active drilling rigs in Colombia in March. By the end of that month, the South American country began a mandatory national preventive isolation still in progress. The number of active oil rigs, key for exploration efforts, has drastically decreased in much of Latin America since restrictions aimed at combating the coronavirus were implemented, according to Baker Hughes. (…) «The priority for companies at this moment is production,» said the president of the Colombian Petroleum Association (ACP), Francisco Lloreda, to Reuters, assuring that exploratory activity has fallen off the radar. Initial government forecasts projected that 42 exploration wells would be drilled in Colombia in 2020; however, this was reduced to a range of 20 to 33 wells in April.
GREMIO
Source: La Opinión
Date: June 10
Headline: External debt. By: Alfredo Yañéz Carvajal
Kind readers: The Bank of the Republic states that external debt is made up of disbursed liabilities, pending reimbursement that are the responsibility of a country and entails the commitment to make future payments of principal and interest, for a specified period. (…) In light of this scenario, I open the door to a couple of bets: the first, possibly the government will again put on the table the sale of another percentage of Ecopetrol. Let us not forget that Minister Carrasquilla tried to promote the sale of 10% of the shares of Ecopetrol that are owned by the Nation and at that time could have generated 10 billion dollars. The second, a new -and more severe- tax reform is coming.
Source: La Patria
Date: June 10
Headline: Economics lesson
A very interesting interview granted by former Minister of Finance and former manager of Ecopetrol Juan Carlos Echeverry to the program My Own Finances, hosted by Juan Pablo Zuluaga, is circulating on social media. In just over an hour, in an uncomplicated conversation, Echeverry provides a clear analysis of the current economic situation and a well-supported defense of the advantages of the capitalist system.
Source: El Frente
Date: June 10
Headline: Barrancabermeja district plans to diversify economy
During a roundtable with journalists Ricardo Rosas from the UDES broadcasting chain and Rafael Serrano Prada, director of the newspaper EL FRENTE and the José Antonio Galán del Socorro and Radio Lengerke de Zapatoca stations (Cordiality Chain), the authorities of the oil district of Barrancabermeja, represented by Mayor Alfonso Eljach Manrique, Secretary of Government Leonardo Gómez Acevedo, and Secretary of Health Luis Fernando Castro Pérez, presented an optimistic balance of the results of the fight against the coronavirus pandemic, which is under control, complying with the sanitary biosecurity protocols with the citizens, to prevent the spread of the disease that has shaken the world. The Mayor of the Oil District highlighted the importance of the legislative act that returns a high percentage of oil revenues, which the previous government had cut from the hydrocarbon-producing municipalities and the positive effects that the new resources from the Colombian Petroleum Company will have, which will be applied for economic reactivation and industrial diversification.
Source: El Frente
Date: June 10
Headline: Delivery of protective face shields to the Fifth Brigade
The Fifth Brigade of the Second Division of the National Army received from Ecopetrol, 8,000 personal protective face shields to contribute to the mission of the soldiers and strengthen preventive measures against the prevention of Covid-19. The face shields were made by companies from Santander and are made of lightweight material, allowing them to be used for long periods of time and can be disassembled for proper cleaning. This contribution strengthens the biosecurity measures implemented in the institution for the preservation of the Force and the protection of the community.
Source: 1lockers.net
Date: June 10
Headline: Anti-corruption accuses former Isolux leadership of bribery in Argentina
The Anti-Corruption Prosecutor's Office has filed a complaint against the former leadership of Isolux Corsán between the years 2008 to 2015 for the alleged payment of bribes to high-ranking officials in Argentina for the construction of a thermoelectric plant in the city of Río Turbio. In a statement, the public ministry explains that during those years the company allegedly made up to 19 payments amounting to 300,000 dollars (264,000 euros at current exchange rates) which, although made by employees of the company in Argentina, were authorized by the parent company in Spain, which also periodically transferred the necessary funds for this. In Colombia, the company Bioenergy, a subsidiary of the state-owned Ecopetrol and Isolux Corsán, is charged with alleged irregularities in the awarding of a contract to build an ethanol plant in the center of the country for more than 138 million dollars.
Topics
Source: El Tiempo
Date: June 10
Headline: Venezuela, without gasoline
Over the years, and particularly with more than two decades of chavista government, Venezuela has become a territory of unprecedented episodes. But perhaps the epitome of the economic abyss the country faces is not represented in the scarcity of food, hyperinflation, the endless rationing of water and energy, or the misery that has forced around 5 million nationals to emigrate. (…) We refer to the terrifying and incomprehensible shortage of fuel in a country that has one of the largest proven oil reserves in the world, a member of the Organization of the Petroleum Exporting Countries (OPEC), and which until recently was one of the most influential international players in this market.
Source: La República
Date: June 10
Headline: Dollar rose to $3.642 and market awaits Fed report
After a week, the price of the dollar in Colombia again surpassed the level of $3.600 and, with an intraday increase of $43, recorded an average quote of $3.642.46. Since June 3, the currency had remained below $3.600. Oil prices showed volatility due to an oversupply after it was announced that three Gulf producers would end voluntary pumping cuts. According to the latest Reuters close, the Brent barrel, a reference for the Colombian market, rose 0.9%.
Source: La República
Date: June 10
Headline: Minhacienda has already sold US$2.145 million
According to the Ministry of Finance, as of May, the National Treasury Directorate of Colombia accumulated dollar sales of US$2.145 million. Additionally, they stated that only in May, US$525.5 million were sold. However, as of April, the mentioned entity had reported sales of US$1.508 million. (…) It is worth noting that, according to a report from Casa de Bolsa, these resources would not have affected the performance of the exchange rate in Colombia for the fifth month of the year, and that this phenomenon would have occurred due to other macroeconomic issues such as, for example, a greater appetite from investors and a more competitive oil price.
Source: Portafolio
Date: June 10
Headline: The central region concentrated 45.7% of losses due to the virus
A report published by the Bank of the Republic, which studied the impacts of isolation to curb the advance of the coronavirus in each region, revealed that under a scenario of isolation of 60% of the occupied population, the monthly economic loss due to the quarantine is $59 billion, which is equivalent to 6.1% of GDP. (…) For example, the document states, “this is the case of Chocó, where 35.1% of the losses are concentrated in the extraction of metallic minerals; Cesar and La Guajira with a high participation of the coal and lignite sector with 33.7% and 43%, respectively; San Andrés with 37.2% of its loss in accommodation and food services; Arauca, Putumayo, and Casanare with a high impact in the extraction of crude oil and natural gas, representing between 31.0% and 41.8% of the total impact; and Guaviare and Vichada, where there is a significant concentration of losses in agriculture.”.
Source: El Nuevo Siglo
Date: June 10
Headline: Kaleidoscope. Parallelism
In response to the above, Senator Gustavo Petro, from Colombia Humana, replied that in his opinion «there is a deep parallelism between the political caste that currently manages the destinies of Colombia and Venezuela. Both sink their countries into oil and coal extractivism, and both defend themselves with foreign armed forces, shattering Latin American integration.».
Source: El Nuevo Siglo
Date: June 10
Headline: Gradual reactivation of various sectors would slow the high unemployment curve.
Despite the drastic increase in unemployment for April (from 19.81%) nationwide with 4.1 million unemployed due to the coronavirus pandemic, starting in May, when some sectors began to reopen, such as construction and manufacturing, a glimmer of hope emerged to cut back that situation. Indeed, a study by Bancolombia indicates that this impact on the labor market is also due to the more dramatic repercussions of the coronavirus and the drop in oil prices on the Colombian economy.
Institutional
Source: La República
Date: June 10
Headline: Start with fracking. By: Abelardo De La Espriella
I said in my column that the economic consequences caused by the pandemic would be even more disastrous than the virus itself, which has humanity in check. Social unrest manifests itself in all possible forms. In the United States, a country severely hit by covid-19, with over 2 million infected and approaching 120,000 deaths caused by the virus, unemployment - although it has begun to show signs of recovery - reached levels not seen since the depression of 1929. (…) We cannot sit idly by, waiting for the genius who discovers the vaccine against covid-19 to appear. We must reactivate our industries, including the oil industry. Since mid-last year, the protocol regulating the implementation of pilot plans for extraction through hydraulic stimulation or fracking has been ready. I do not understand why the Minister of Mines has not given the green light for its implementation.
Source: El Pilón
Date: June 10
Headline: Love in times of oil exploration and exploitation.
The minstrel Juancho Polo Valencia recorded, in 1973, the paseo called ‘La Soconi’, he did it for the record label Fuentes, it is the third song on side A of the long-playing record ‘El Divorcio’. In it, the accordionist, singer, and composer opens the doors to what happened in Pivijay, Magdalena, in the mid-forties of the last century, after the arrival of workers from the American oil exploration and exploitation company, Socony Vacuum Oil Company. (…) In 1942, the American James A. Tong requested from the Ministry of Mines the oil concession for the exploration and exploitation of 47,743 hectares of land in the municipality of Pivijay, and if necessary, of Salamina and El Piñón, Magdalena. A year later, on December 21, the concession contract number 1304 was signed, whose objective was the exploration with drilling and exploitation of oil in that geographical area.
Source: Javeriana Estéreo
Date: June 09
Colombian Association of Oil and Gas