ACP as a source of information
Source: prensalibrecasanare.com – Regional
Date: April 07
Headline: GeoPark supports its neighbors in Tauramena and Villanueva during the COVID-19 emergency
GeoPark, a company dedicated to the exploration and production of oil and gas, assured that it is working in solidarity with the mayors of Tauramena and Villanueva, and their neighbors from both municipalities, to prevent the spread of COVID-19. Since the beginning of the emergency, GeoPark has coordinated efforts with the mayors of both municipalities in southern Casanare to deliver essential hospital supplies for the prevention and care of COVID-19 in the territory. (…) At the departmental level, GeoPark joined efforts with other operators through the Colombian Petroleum Association to deliver a significant number of personal protective equipment for the medical staff of Casanare. The Governor, Salomón Sanabria, highlighted the importance of the industry working in partnership with the regional government to strengthen the protection of the Casanare population.
Source: gerente.com – National
Date: April 06
Headline: Will there be a green light for fracking in Colombia?
The Council of State upheld its decision to keep suspended the regulations that would govern this activity in the country, while studying a lawsuit that requests the annulment of this provision, arguing that the entity responsible for ruling on this matter should be the Congress of the Republic, which had already included the issue in two previous development plans. (…) For the Colombian Petroleum Association (ACP), the Council of State did not take into account the recommendations issued by the Commission of Experts regarding giving the green light to advance with the so-called Comprehensive Research Pilot Projects, which would allow the collection of technical and environmental elements that facilitate determining the necessary regulatory adjustments. (…) The Minister of Mines, María Fernanda Suárez, stated that the Colombian peso could suffer a devaluation against the dollar because, in light of the oil insufficiency, the overall supply of foreign currency would be affected, hence the importance of increasing the level of reserves within a period of seven years.
Source: oilchannel.tv – Regional
Date: April 06
Headline: Oil companies and ACP donate personal protective equipment and medical supplies in Casanare
Private sector oil companies, Cepsa Colombia, Colombia Energy, Emerald Energy, Frontera Energy, Geopark Colombia, Gran Tierra Energy, Hocol, Parex Resources, Perenco Colombia Limited, Vetra Exploration and Production, and Las Quinchas Resources, companies that operate in the department of Casanare, joined efforts to deliver 18,000 personal protective equipment for the medical staff throughout the department, all under the leadership of the Colombian Petroleum Association (ACP), since the end of March these supplies have been provided. (…) The president of the Colombian Petroleum Association, Francisco José Lloreda, for his part stated: “For the oil and gas industry, it is essential that the department of Casanare, and its medical staff, have the necessary protective equipment to address this health emergency…”
Source: lavozdeyopal.co – Regional
Date: April 06
Headline: Supplies and protective equipment delivered to health personnel
The donations include two (2) new disinfection equipment, which were installed and distributed one at the Casanare Clinic and the other at the Regional Hospital of the Orinoquía – HORO. Throughout the weekend, officials from the Casanare Health Secretariat were present in healthcare centers in the capital, (…) The delivered items are part of the management carried out by the governor of Casanare, Salomón Sanabria, before the Colombian Petroleum Association – ACP, and other aids that were personally delivered by the governor himself and the Departmental Health Secretary, Yenny Fernanda Díaz Barinas; among which stands out the participation of the company Ferre Aguas Asociados and engineer Juan Pablo Ávila, responsible for the design and subsequent production of the disinfection equipment.
Source: suversion.com.co – Regional
Date: April 06
Headline: GeoPark supports its neighbors in Casanare during the COVID-19 emergency
GeoPark, a company dedicated to the exploration and production of oil and gas, is working in solidarity with the mayors of Tauramena and Villanueva, and their neighbors from both municipalities, to prevent the spread of COVID-19. Since the beginning of the emergency, GeoPark has coordinated efforts with the mayors of both municipalities in southern Casanare to deliver essential hospital supplies for the prevention and care of COVID-19 in the territory. (…) At the departmental level, GeoPark joined efforts with other operators through the Colombian Petroleum Association to deliver a significant number of personal protective equipment for the medical staff of Casanare. The Governor of Casanare, Salomón Sanabria, highlighted the importance of the industry working in partnership with the regional government to reinforce the protection of the Casanare population.
Source: laschivasdelllano.com – Regional
Date: April 06
Headline: Supplies and protective equipment were delivered to health personnel in Casanare
The donations include two (2) new disinfection equipment, which were properly installed and distributed at the Casanare Clinic (1) and the other at the Regional Hospital of the Orinoquía – HORO. (…) The delivered items are part of the management carried out by the governor of Casanare, Salomón Sanabria, before the Colombian Petroleum Association – ACP, and other aids that were personally delivered by the governor himself and the Departmental Health Secretary, Yenny Fernanda Díaz Barinas; among which stands out the participation of the company Ferre Aguas Asociados and engineer Juan Pablo Ávila, responsible for the design and subsequent production of the disinfection equipment.
Source: laschivasdelllano.com – Regional
Date: April 06
Headline: Casanare continues to face COVID-19
The Governor has championed efforts on different fronts of action, which are gradually materializing, preparing the Department for the management and care of patients positive for Coronavirus COVID-19. As a result of the leadership and management that Governor Salomón Sanabria has undertaken with different public and private sector instances, is the donation of more than 18,000 protective and biosecurity items contributed by hydrocarbon companies with a presence in Casanare, under the leadership of the Colombian Petroleum Association - ACP -, which were delivered to the manager of the Regional Hospital of the Orinoquía (HORO), Ronald Roa, to safeguard the lives of the healthcare personnel responsible for managing and caring for COVID-19 positive patients.
Source: lareporteria.com – Regional
Date: April 06
Headline: A shipment of supplies and protective equipment was delivered to health personnel in Casanare
The donations include two new disinfection equipment, which were properly installed and distributed at the Casanare Clinic and the Regional Hospital of Orinoquía – HORO. Throughout the weekend, officials from the Casanare Health Secretariat were present in healthcare centers in the capital, in order to ensure the supply of protective and biosecurity elements, which allow for the reduction of the risk of Covid-19 contagion among healthcare personnel. (…) The delivered items are part of the management carried out by the governor of Casanare, Salomón Sanabria, before the Colombian Petroleum Association– ACP, and other personal contributions made by the governor himself and the Departmental Health Secretary, Yenny Fernanda Díaz Barinas; among which the participation of the company Ferre Aguas Asociados and engineer Juan Pablo Ávila stands out, responsible for the design and subsequent production of the disinfection equipment.
GREMIO
Source: La República
Date: April 07
Headline: Ecopetrol may borrow US$665 million from foreign banks.
The Ministry of Finance authorized Ecopetrol to contract a loan under the committed line modality with international banks for an amount of up to US$665 million. This is an external loan with Mizhuko Bank and The Bank of Nova Scotia as the administrative agent, under the non-revolving committed line modality with the aim of improving the liquidity of the oil company. In fact, it would be a five-year term in which Mizhuko would lend US$235 million, while Bank of Nova Scotia would lend US$430 million. It is expected that Ecopetrol, a company led by Felipe Bayón, will allocate these resources for its investment plan in the 2020-2021 period. “To finance those general corporate purposes other than investment, Ecopetrol will have a two-year availability period starting from the signing of the loan contract,” detailed the decree from the ministry.
Source: La República
Date: April 07
Headline: Naturgy and Repsol challenge Covid-19 and plan bond issuance.
Madrid. Naturgy and Repsol are going to challenge the economic standstill that the market is experiencing as a result of the coronavirus and are finalizing the launch of several bond issuances that could be record-breaking. Financial sources assure that Naturgy is preparing a five-year issuance of more than US$1,000 million. For its part, Repsol is preparing two issuances for a similar combined value.
Source: El Colombiano
Date: April 07
Headline: Aid to feed the most vulnerable.
Alleviating the worries of the most vulnerable during emergency times has been one of the priorities shown by companies in terms of donations this season. (…) Finally, it was also reported that the Gente Ecopetrol Foundation has already benefited 4,653 families, following contributions from employees of the Group that have reached 2,019 linked. The markets have already benefited 17 territories, including Bogotá, Barrancabermeja, Yopal, Yondó, among others. The director of the Gente Ecopetrol Foundation, Liliana Gélvez, thanked everyone who “has joined the great challenge of ensuring food security for families in vulnerable situations.” Likewise, she invited more people to join this campaign to provide a second round of markets: “we invite more Colombians to join,” Gélvez stated.
Source: Vanguardia Liberal
Date: April 07
Headline: The guard is up, after the first COVID-19 case in the Port.
A 49-year-old man, an Ecopetrol worker, who has been in an ICU in Bucaramanga for several days, tested positive for coronavirus and became the first case in Barrancabermeja. When local authorities were making their utmost effort to contain the arrival of COVID-19 in Barrancabermeja, yesterday afternoon the National Institute of Health confirmed the first positive case for the Oil Port, to which the District invited citizens to remain calm, while reaffirming that the guard remains high against the virus. The case is that of a 49-year-old man, a worker in the oil industry, whose chain of contagion is still under study, and who is in an Intensive Care Unit in Bucaramanga.
Source: El Pilón
Date: April 07
Headline: A new cycle of crisis for oil. By: Carlos Alberto Leal Niño.
After the 2015 crisis, and when the value chain of the sector was affected by the impact caused by the price reduction due to the increase in production from unconventional fields, and the fragile global economic stability, we must face a new oil price crisis, supported by Covid-19, which has slowed economic activity to almost critical levels. (…) In our case, the impacts include a decrease in oil revenue of up to 15.8 trillion, broken down into the cessation of dividends by Ecopetrol, an increase in the current account deficit, fewer royalties and tax revenues, and a decrease in foreign investment. (…) Other actions for cost optimization could be considered in reducing the quality of crude oil for sale and disposal water to acceptable limits to lower processing costs, minimizing transportation fees for crude oil by pipelines and tank trucks, the variation of specialized service fees tied to crude oil prices, optimizing work equipment for operations, and relocating personnel to new fronts.
Source: eltiempo.com
Date: April 07
Headline: First case of coronavirus confirmed in Barrancabermeja
The National Institute of Health reported on the afternoon of this Monday, April 6, more cases of people infected with covid-19 in the country, including a 49-year-old man in the municipality of Barrancabermeja, Santander. This man presented a health condition associated with the virus at the end of last month, for which he was treated at the Polyclinic of Barrancabermeja and the respective tests were applied. (…) It is also mentioned that the municipality's mayor's office met with the work environment of the infected person to verify the measures that the company is adopting to prevent the spread of the virus among workers. The person would work at Ecopetrol, a company that, through an internal communication, took preventive measures due to the case.
Source: prensalibrecasanare.com
Date: April 07
Headline: More than 4,600 families have benefited from contributions from workers of the Ecopetrol Group
The Ecopetrol People Foundation (GE) continues to provide humanitarian aid to Colombians most affected by the Covid-19 pandemic in different regions of the country. As of March 31, 4,653 families have benefited thanks to contributions made by 2,019 people. Since March 20, the GE Foundation promoted among employees, retirees of Ecopetrol and Cenit, its hydrocarbon transportation and logistics subsidiary, the donation of one day's salary or an amount of free choice to support the most affected families, an initiative that was also joined by volunteers through deposits on the PSE platform. (…) Additionally, the subsidiaries Essentia and Bioenergy are working to ensure the supply of raw materials (polypropylene, polyethylene, and anhydrous alcohol), necessary for the production of elements required for the prevention and containment of COVID-19.
Topics
Source: La República
Date: April 07
Headline: The activity of oil drilling rigs would fall 12% this year
The Colombian Chamber of Oil Goods and Services (Campetrol) detailed today that drilling activity for 2020 could be reduced to 122 rigs, compared to the 139 reported at the end of last year. In a virtual press conference, Germán Espinosa, president of the guild, warned that there are still no exact data on the impact that the international price crisis and the Covid-19 emergency would have. (…) Under the current outlook of this situation, they added that there are already several estimates calculating that the price of Brent could rise to a maximum of US$50 per barrel this year. Therefore, it was warned that at the most critical point, crude oil production could fall to 786,000 barrels per day, while in a moderate scenario it would be 810,000 barrels. Among the impacts that could arise from the situation, Campetrol warned, would be cuts in companies' investment plans, as well as lower hiring and reduced activity in the fields.
Source: La República
Date: April 07
Headline: Extension of mandatory isolation could cost up to 10% of monthly GDP
Amid the doubts in the country about whether the mandatory preventive isolation would be extended or not, President Iván Duque said yesterday on the television program ‘PrevenciónYAcción: Protection for the family and progress in delivering social relief’, that the quarantine will no longer last until April 13, as previously planned, but will be extended for another 14 days until 11:59 p.m. on Sunday, April 26, with the aim of controlling the pandemic. (…) According to the letter, “the paralysis of these sectors will cost at least 10% of the GDP corresponding to each month they are halted. Therefore, allowing them to resume economic activities must be a priority,” warning that “maintaining a longer isolation for that portion of the population will worsen the economic problems of the country, which faces, in addition to the situation generated by Covid-19, the effects of falling oil prices, the rising dollar, the global debt crisis, and the decline of stock markets.”.
Source: La República
Date: April 07
Headline: The dollar exchange rate fell $30.24 and dropped below $4,000 after 10 days
This Monday, the price of the dollar fell to $30.24 and was traded at an average of $3,978.74, which meant that, after 10 days, when on March 27 the Representative Market Rate (TRM) was $3,995.83, the currency is again positioned below $4,000, a price seen in Colombia after the arrival of Covid-19. (…) The expert added that, after a sharp drop in oil prices in recent days, this week crude started with greater stability due to the postponement of the emergency virtual meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies for next Thursday, as more time is needed for negotiations that could cut production by 10%.
Source: La República
Date: April 07
Headline: OPEC+ would agree to production cuts if the U.S. joins.
The group of oil producers known as OPEC+, which includes Saudi Arabia and Russia, could agree to a cut in pumping at a scheduled meeting on Thursday if the United States joins the measure, three sources said. A previous pact ended last month after Moscow and Riyadh could not agree on the cut at a time when the coronavirus pandemic destroyed demand. (…) Oil surged 35% last week after sources from the Organization of the Petroleum Exporting Countries (OPEC) and countries outside the group, such as Russia, said a new agreement to cut pumping was close.
Source: El Nuevo Siglo
Date: April 07
Headline: Sweating oil. By: Amylkar Acosta
If anything characterizes oil prices, it is their volatility, which is determined by market fundamentals and/or the vice versa of geopolitics. According to the IEA, it was expected that, as a result of the cooling of the global economy attributable to the trade war that Trump had declared on the rest of the world, oil demand in 2020 would decrease, for the first time since 2009, by approximately 90,000 barrels/day. (…) Given this situation, the Colombian economy will have to endure this year an external shock due to the very severe drop in oil prices, which could take the current account deficit of the balance of payments up to 6%, exacerbate the fiscal deficit, and even lead to a greater slowdown in growth. In summary, this drop in prices has made the Colombian economy sweat oil.
Source: El Nuevo Siglo
Date: April 07
Headline: 55% of oil companies warns that this year will be very complicated.
The drop in crude prices due to the conflict in production between Saudi Arabia and Russia, low demand in consumption, and the global impact of Covid-19 has left the oil industry in the world and in Colombia in a precarious position. In light of this situation, it is expected that only 55% of companies in the oil sector of goods and services believe that this year will definitely not be the best. This result comes from the survey conducted for the first quarter of the year by Campetrol (Colombian Chamber of Goods & Services), which describes that in the previous survey from the last quarter, 91.6% thought the opposite.
Source: El Nuevo Día
Date: April 07
Headline: Tensions between the U.S. and Venezuela. By: Alejo Vargas Velásquez
It has always been said that great powers have no friends but interests, and this is an important maxim to understand behaviors in international politics. This week, the scenario of tensions between the United States and Venezuela flared up again. On one hand, the decision of a U.S. prosecutor to open a judicial process against members of the Venezuelan government and the offer by the United States of 15 million dollars in reward for the Venezuelan president, Nicolás Maduro, and 10 million for other high-ranking officials of that government (…) This would show the classic combination of ‘stick and carrot’ by the U.S. and seems to strengthen the second version circulating in the United States, which is that everything is aimed at ‘softening’ Russia's position on the oil issue. That is, in light of the drop in oil prices due to the standoff between Saudi Arabia and Russia, which affected the finances of companies engaged in fracking in the United States, the Trump administration apparently wanted to ‘blackmail’ Putin through pressure on his ally to soften his position on the oil issue.
Institutional
Source: La República
Date: April 07
Headline: More money for Education and Health in 2021.
According to the draft budget for the 2021 fiscal year, published by the Ministry of Finance, which will be taken to the sectoral committees for a first evaluation before it reaches Congress, (…) On the other hand, the Ministry of Mines and Energy would see a budget cut of 32%, being one of the tightest. Therefore, it would manage $2.6 trillion next year. (…) Although the document was published on Friday, when the calculations were made the country had not entered quarantine, nor had the drop in oil prices been anticipated, whose movement affects national revenues. “This budget is an expression of what the needs of all sectors are, but it should be remembered that then comes the fiscal framework, which is presented on June 15. Based on that, it is adjusted what the budget to be presented in July to Congress should be,” explained former Minister of Finance, Oscar Iván Zuluaga.
Colombian Association of Oil and Gas