ACP as a source of information
Source: Vanguardia Liberal – Regional
Date: May 26
Headline: Senate begins voting on projects in virtual sessions
Two months after holding virtual sessions, the Senate of the Republic will finally start voting on bills, and although it will not be in the plenary, Commissions III and VII will do so. In Commission III, which deals with economic affairs, there are at least ten projects on the agenda, including one that creates a tax incentive for small and medium accommodation establishments that are certified in tourism quality. (…) In Commission I, on Tuesday, they expect to debate the real situation facing each of the economic sectors in the country, challenges and expectations from their particular experience, once the confinement measures are lifted, in order to contribute to the economic reactivation of Colombia, for which they are invited, among others, Andi, Acopi, Anato, Asocaña, ACM, Acolfa, ACP, Acoplásticos, Asocolflores, Naturgas, and Cotelco, Colfecar. It was reported in:vanguardia.com (May 26).
Source: El Tiempo – National
Author: Héctor Manosalva*
Date: May 24
Headline: Allies, not antagonists
The Colombian Petroleum Association (ACP), which brings together more than a dozen foreign capital companies, has requested relief to mitigate the crisis facing the activity. The drop in hydrocarbon prices has been significant, as a result of the decrease in crude oil demand worldwide. It is respectable for the guild to present its position, which is summarized in asking for a 60 percent discount on the established tariff of the pipelines. However, as the head of Cénit, the Ecopetrol subsidiary that offers comprehensive logistics and transportation solutions for this segment, I must make several clarifications. (…) At Cénit, we are aware of the difficulties faced by oil companies, which, more than clients, are natural allies. Hence, we have been structuring proposals that combine significant reliefs and discounts, which are beginning to be accepted. *President of Cénit. It was reported in:eltiempo.com (May 24).
Source: El País – Regional
Author: Francisco José Lloreda Mera
Date: May 24
Headline: What is the problem?
If there is a case that raises difficult-to-reconcile opinions, it is that of Andrés Felipe Arias. For his defenders, the resources of Agro Ingreso Seguro were allocated correctly and the fragmentation of properties to receive greater subsidies is the exclusive responsibility of those who committed that fault, the Supreme Court condemned him for political reasons, and the Santos government facilitated his extradition as retaliation against former president Uribe. For his detractors, it is the opposite: they believe that Arias turned the agrarian program into a political instrument to co-opt future contributors to his campaign, those resources should not have ended up in the hands of large landowners, the decision of the Supreme Court of Justice was correct and lawful, and that of the previous government to enforce his extradition from the United States was simply fulfilling a duty. It was replicated in: elpais.com.co (May 24).
Source: Javeriana Estéreo – Regional
Date: May 22
Source: RCN TV – National
Date: May 22
Source: noticias.canalrcn.com – National
Date: May 22
Headline: The project that prohibited oil extraction in the Amazon has sunk.
Defenders argue that it was about conserving that area of the country, others point out that sustainable exploitation should be done and that in any case it cannot be done in forest reserves. (…) “In those departments, we have operations in Meta and Putumayo. Ecopetrol has demonstrated for a century that it operates with international standards and in harmony with the communities,” said Felipe Bayón, president of Ecopetrol. For Francisco Lloreda, president of the Colombian Petroleum Association, there are other factors that threaten resources. “When the real problems of the Amazon are deforestation, illicit crops, drug trafficking; that is, in other activities, including illegal mining, that are truly threatening this resource that is fundamental for us and for the planet.”.
GREMIO
Source: El Espectador
Date: May 26
Headline: Hunger is subversive. By: Cristina de La Torre
Unlikely today in Colombia a popular uprising propelled by hunger, like the riots that historically spurred the violent change of the established order. (…) Like labor policy, completely foreign to a “dialoguing” minister, incapable of initiative to look out for the millions of Colombians who will be left without jobs and without income. And he condescends with Vargas Lleras' labor reform, which would cost workers $24.8 billion, according to analyst Fabio Arias (Las2Orillas). Economic groups and the political sanhedrin are already charting the course. The pandemic comes to them like a piñata to govern at their leisure: not content with disproportionately enjoying the employment subsidy —compared to medium and small companies that account for 80 % of jobs—, they seem to be preparing to buy the queen company of Colombia, Ecopetrol, at a bargain. To devour the little that remains of the State by clawing at its copious savings, profits, and deposits in tax havens, untouchable to alleviate the unemployment subsidy that they do not dramatically need.
Source: La República
Date: May 26
Headline:Food and energy companies, the ones that grow the most
The financial results of the first quarter continue to show their relationship with the pandemic, as when looking at the variation in income, the companies that grow the most are those that offer essential products and services. (…) On the other hand, looking at the list of companies that reported the highest income during the first quarter, Ecopetrol stands out as a leader, as although it had lower income (-5%) compared to last year, it certainly maintained $15.07 billion. Followed by Terpel with income of $ 5.31 billion and a variation of 4.3%. The decline in these companies is due to the fact that the price of oil was affected by the drop in global demand as a result of the new coronavirus, but “those declines were progressive because not all countries fell at the same time during the pandemic, first it was China and Asia, then Europe, then the United States and Latin America, so the market loss was gradual, and so will be the recovery,” added Bejarano.
Source: El Colombiano
Date: May 26
Headline: Entrepreneurs invest part of their taxes in works
Works by Taxes reached its third phase and involved the participation of 23 companies. Where state resources have normally not arrived due to corruption, distance, and conflict, is where the country's entrepreneurs have begun to set their sights and invest part of the resources they should deliver each year to the Nation in the form of taxes. (…) The Ecopetrol Group is the Colombian conglomerate that allocates the most resources to finance social impact projects under this mechanism. With its taxes, thirteen projects will be developed: road improvements in Meta, Nariño, Casanare, and Caquetá; initiatives for access to drinking water in La Guajira, and school supplies and furniture for 1,359 educational institutions in Casanare, Putumayo, Norte de Santander, Arauca, Cesar, Valle, and Tolima. (…) Graphic. Post-conflict works by taxes 2020. Investment by company Figures in $ millions. Parex: 13.092.
Source: larepublica.co
Date: May 26
Headline: Implications of the economic and oil crisis in the world
The covid-19 pandemic has hit the world like no other event in history. The health figures and the collapse of global GDP and trade show a bleak outlook. The planet entered recession and fundamental sectors of the economy were paralyzed. (…) Petrobras from Brazil and Pemex from Mexico are closing supplies, and many fields in the North Sea and the U.S. have become uneconomical. The world's large companies are cutting their budgets for this year. In Colombia, Ecopetrol has reduced its investment plan by US$ 1.200 million; the national average production target is estimated at 850,000 b/d, if the Brent price reaches US$ 35 per barrel, against the forecast of 900,000 b/d, but if prices were to fall on average to US$ 30, the production for the year would be around 800,000 b/d. A complex outlook, hoping that by the end of the year, prices may reach levels close to US$ 40 per barrel.
Source: prensalibrecasanare.com
Date: May 26
Headline: Head-On – Johana loves her town
“…they said: nooo…this is a fool we give three turns to…”; “…Ecopetrol cries for those markets…”; “…the oil company doesn’t care about the people nor do they care about the Aguazuleños…”; all Ecopetrol does is bring in people from other countries, from other departments, to come and bring Covid-19…”; “…and they (Ecopetrol) come to pay you (the journalists) to publish this news…” Such were the caliber of phrases and accusations that Johana Moreno, mayor of Aguazul, launched angrily through the media when asked why she does not want to receive the 2,000 food packages that the Colombian state oil company has been trying to deliver for several days to be distributed among the poorest in that municipality. (…) Now, the accusation that Johana Moreno makes against Ecopetrol of spreading Covid-19, because according to her the company is hiring uncontrolled people from all over the country and even from other countries, is very serious. Here one assumes that the lucid and intelligent leader has already put this delicate matter in writing to the oil company itself, the Ministry of Health, the Departmental Health Secretariat, the Governor, and the Attorney General.
Source: prensalibrecasanare.com
Date: May 26
Headline: 1,200 food packages were delivered over the weekend by the Mayor's Office of Yopal.
During the weekend, the Mayor of Yopal, Luis Eduardo Castro, along with his work team, delivered 1,200 food packages to families economically affected by the current Covid-19 pandemic, which were previously identified, with the support of the presidents of the 14 neighborhoods where the humanitarian aid was distributed. (…) The humanitarian aid delivered by the Municipal Administration during the weekend corresponds to the donations made by Ecopetrol, as part of the Great Donation led by the First Lady of the Department, Cielo Barrera, and the Government of Casanare.
Source: llaneraradio.com
Date: May 26
Headline: Resources for humanitarian aid in Yopal: Parex Resources (sic)
During a virtual meeting held between officials from Parex Resources and the Mayor of Yopal, Luis Eduardo Castro, it was announced that this entity, in compliance with its social responsibility policy, allocated $18,000,000 so that the Mayor's Office of Yopal can reach more Yopal families with humanitarian aid, considering the economic and health crisis generated by the Covid-19 pandemic. (…) “I have a great image of the company Parex; when I served as Head of the Departmental Planning Office, I had the opportunity to do excellent work with this entity, so it is great news to know that they will support me with the work that my team and I have been doing in different neighborhoods of the city,” said Mayor Luis Eduardo Castro.
Source: lareporteria.com
Date: May 26
Headline: On Biodiversity Day, Ecopetrol delivered 10,000 trees to Corporinoquia
Algarrobos, cedars, fistula canes, purple flowers, yopos, orejeros, samanes, yellow flowers, and guamos are part of the 10,000 trees of native species that Ecopetrol delivered to the Regional Autonomous Corporation Corporinoquia, in commemoration of International Biodiversity Day on May 22. The trees, which will be planted in the department of Casanare, are a contribution from the Company to the goal set by the National Government, through the Ministry of Environment and Sustainable Development, of 180 million trees planted by 2022, said Luz Andrea Campos, Environmental Professional of Ecopetrol in Casanare.
Topics
Source: La República
Date: May 26
Headline: Analysts predict that the exchange rate will return to levels of $3,830
Although last week the exchange rate lost $151.81 and closed on Friday with an average price of $3,782.71, the analysts consulted estimate that this week the dollar will be more expensive and will trade on average at $3,830. In the last week, advances in the development of a vaccine to combat covid19 and the gradual reopening of some economies led to the dollar weakening, as the market was regaining confidence and investors were turning to higher-risk assets. (…) WTI price would be quoted near US$32. Although in the last week there was a recovery in oil prices, which traded above US$30 again, Edward Moya, senior market analyst at Oanda, considered that “geopolitical risks along with a recovery exhausted by the improvement of supply and demand fundamentals are causing oil prices to drop.” The analyst added that crude reduced losses as oil and natural gas exploration in the United States has fallen, but the industry will not return to being the same because prices will remain limited below US$40 for the rest of the year.
Source: El Colombiano
Date: May 26
Headline: The price of oil started the week on the rise
The value of the barrel rose yesterday by more than one percentage point, buoyed by economic recovery in China and better prospects for fuel demand recovery. The Brent reference is quoted at US$35.58 per barrel and WTI is at US$33.70.
Source: El Nuevo Día
Date: May 26
Headline: Oil closes higher buoyed by economic recovery
The price of a barrel of oil rose yesterday by more than one percentage point, driven by the economic recovery in China and better prospects for fuel demand recovery. The price of the Brent crude oil barrel, the benchmark for Colombia, for delivery in July ended in the London futures market at $35.58, an increase of 1.28%, $0.47, compared to the end of the previous session, while West Texas Intermediate rose 1.35% to $33.70, $0.45 more, in a session with few movements due to the closure of the stock markets in London and New York for a holiday.
Source: El Nuevo Siglo
Date: May 25
Headline: The 10 indicators of the economy today
The crisis has disrupted macroeconomic indicators as has happened worldwide. Only in the way the country is reacting, it will be able to exit quickly from it. The CRUISING SPEED of the coronavirus is not the same as that of the economy, neither in Colombia nor in the world. Hence, all the indicators of the country register drastic changes every week as perhaps analysts and researchers never imagined, and even less so, the average Colombian. (…) 4. Exports The recession in which our main trading partners are immersed and the decline in commodity prices will lead to a reduction in the value of exports of around 25% in 2020. The most significant impact will occur in the group of traditional exports, as a result of the deterioration in international prices and the lower volumes produced of oil and coal.
Source: elnuevosiglo.com.co
Date: May 25
Headline: FIP alert for increase in homicides of leaders and ex-FARC
The homicides of social leaders and former FARC guerrillas committed during the coronavirus pandemic have increased, against the general trend of homicide reduction, according to the quarterly report from the Ideas for Peace Foundation (FIP), which was published this Monday. (…) «Environmental problems linked to illegal mining, deforestation, and attacks on oil pipelines also continue. In some areas, they have even intensified,» added the FIP.
Institutional
Source: elmundo.com
Date: May 26
Headline: National energy security: hydrocarbons and natural gas
Reflecting on the country's energy security requires recognizing that the most socially and economically costly energy is the one that is not available. (…) Before the pandemic, the Ministry of Mines and Energy persistently stated that the country would lose its oil and natural gas self-sufficiency in six years, given that in recent years no new discoveries of conventional deposits with short-term exploitation availability have been found. Losing oil self-sufficiency implies difficulties in operating the two existing refineries in the country and consequently generating a deficit in the production of diesel, gasoline, jet fuel, and other industrial derivatives, leaving only the option of crude oil imports, which even in a low-price scenario remains concerning due to the fiscal costs it entails.
Source: El Nuevo Siglo
Date: May 23
Headline: Uncertainty continues over who pays the costs of popular consultations
The holding of popular consultations in the country has once again come into question in recent hours after the National Civil Registry found it necessary to suspend, due to lack of resources, the day for citizens to express their support or opposition to the creation of the Metropolitan Area of Central South Caldas. The Ministry of Finance, according to the National Registry, did not provide the resources to conduct this consultation arguing that the funding for this mechanism is the responsibility of territorial entities and not the Nation. (…) However, things began to change in 2017 for popular consultations due to the explosion of initiatives that emerged in different regions of the country from citizens concerned about the effects of mining and oil exploitation on the soil, water, and air.
Source: El Nuevo Día
Date: May 23
Headline: Urgent plan to protect the Galilea Forest
The NGO Podion urgently requested the formulation and adoption of the Environmental Management Plan for the Tolima Regional Natural Park Galilea Forest, as it considers it essential to protect it from the extractive interests of companies like Petrobrás and Ecopetrol. The call from organizations and communities that fought for a declaration of protection is that the next step be taken in a short time, as oil interests remain latent. (…) According to Podion, oil companies have conducted 2D seismic exploration in the last decade, causing environmental impacts; therefore, it also requests the update of the National Registry of Protected Areas, Runap, and the land map of the National Hydrocarbons Agency to establish the Galilea Forest as an environmental restriction against extractive projects.
Colombian Association of Oil and Gas