ACP as a source of information
Source: Radio Red – Regional
Date: May 05
Source: eltiempo.com – National
Date: May 05
Headline: Oil sector disappointed by ‘reliefs’ in pipeline rates.
In response to the Ecopetrol subsidiary's announcement, the sector's guild insisted on state intervention. Following the announcement by the company Cenit and its subsidiaries, controlled by Ecopetrol, to finance pipeline transportation rates, the oil sector, through the Colombian Petroleum Association (ACP), stated that this solution does not help mitigate the impact on the industry due to low oil prices. (…) Regarding the rate reductions, the ACP said that the real proposal from Ocensa (the pipeline that transports the largest volume of oil) is to lower it by 0.6 percent, from a rate of $7.75 to $7.70 per barrel. This is a minimal adjustment when oil prices have fallen by 71 percent since January and 42 percent in the last two months, especially considering that Ocensa raised rates by 10 percent in July 2019.
Source: notitulua.com – Regional
Date: May 05
After the sharp decline in oil prices, the Colombian oil sector represented by its guild or trade group, the Colombian Petroleum Association (ACP), called on the government, which sets oil transportation prices through the National Hydrocarbons Agency (ANH), to react to market forces and allow a reduction in pipeline transportation prices within Colombia, which according to the ACP represents 45% of the cost of oil delivered to the refinery. Oil transportation provider Cenit (Spanish for Zenith), the pipeline operator owned by Ecopetrol, controlled by the government, announced last week “relief of up to 50% in pipeline transportation rates for oil producers,” according to the headline of a printed statement published by Cenit. However, upon reading the details, the transporter is only offering delayed payment terms.
Source: noticiasdecolombia.info – National
Date: May 05
Headline: Oil sector disappointed by ‘reliefs’ in pipeline rates.
Following the announcement by the company Cenit and its subsidiaries, controlled by Ecopetrol, to finance pipeline transportation rates, the oil sector, through the Colombian Petroleum Association (ACP), stated that this solution does not help mitigate the impact on the industry due to low oil prices. According to the ACP, the financing proposal (for two months) with interest charged on this percentage “does not meet the economic requirements of the shippers regarding the current value of the rates, which are excessively high. This would only increase transportation costs, as after the two months the same rate would have to be paid with interest (1.5 percent effective annual). And it added that this financing does not take into account the reality of the price crisis that the sector is experiencing, the duration of which is unclear.
GREMIO
Source: El Tiempo
Date: May 06
Headline: Oil rises 13.7%, and the dollar falls $64
While the price of oil recorded strong increases yesterday, the dollar completed its fourth consecutive session down in Colombia. Indeed, the Brent barrel for delivery in July rose 13.74 percent to 30.95 dollars. For its part, WTI for delivery in June in New York gained 20 percent to 24.56 dollars for the fifth consecutive session. (…) They also point out that there are factors that could limit upward pressures, such as possible monetizations by Ecopetrol, following the issuance of bonds for 2 billion dollars, the capitalization of the Emergency Mitigation Fund (Fome), the payment of taxes by large taxpayers, and the possible access to the 10.8 billion dollars in credit that the IMF approved for the country.
Source: El Espectador
Date: May 06
Headline: Past, oil, and future. By: Juan Pablo Ruiz Soto
The future of oil will not be the same as its past. Its use will not disappear, but its relative importance is decreasing, and it is time to accelerate its replacement with less polluting energy sources. The planet is changing; societies, values, and available technologies are changing too. (…) In the last century, oil gave rise to enormous fortunes like those of the Rockefellers, to large and profitable companies like Exxon Mobil, Shell, British Petroleum; the extraction and export of oil generated wealth or economic dependence for many countries, including Colombia. That is changing.
Source: La República
Date: May 06
Headline: The 10 reasons to step in and save Avianca
The help that Avianca is asking from the Government has sparked a debate on social media and public opinion between those who support saving the company and those who do not. Former ministers, economists, senators, among others, have given their opinions, but the final word rests with President Iván Duque. Connectivity, employment, and the importance of the airline for reactivation are some of the reasons argued by those in favor of helping Avianca. Its situation is not isolated. Graph: Largest companies in the country. Operational revenues (2018) Ecopetrol: $62,579,849,000 (…) Cenit $6,715,702,915.
Source: Portafolio
Date: May 06
Headline: Seven attacks on the pipeline network in four days
The Caño Limón-Coveñas and Bicentenario pipelines were the target of seven attacks that occurred since last Saturday in the departments of Arauca, Boyacá, and Norte de Santander. In recent hours, three attacks occurred against the Caño Limón-Coveñas system in the villages of Las Acacias, Guamalito, and La Ceiba in the municipality of Arauquita. Additionally, during the afternoon of Saturday, there were impacts in the village of El Consuelo, municipality of Saravena, which are being addressed by specialized personnel. (…) Cénit, a subsidiary of the Ecopetrol Group, reports that it activated the contingency plan and mobilized technical and operational personnel to the affected points to carry out inspection work, ensuring the necessary control measures to prevent the spread of covid-19.
Source: El Nuevo Siglo
Date: May 06
Headline: Attacks on pipelines
The contingency plan for the Caño Limón-Coveñas and Bicentenario pipelines, to address the emergencies caused by seven attacks that occurred since last Saturday, was activated by Cenit, a subsidiary of Ecopetrol. In recent hours, three attacks occurred against the Caño Limón-Coveñas system in the villages of Las Acacias, Guamalito, and La Ceiba, in Arauquita. The attacks also affected the operation of the Bicentenario pipeline, at the El Paraíso property, in the Palo de Agua village, in Fortul, with a total of five recorded in Arauca. Two other attacks occurred in the Puerto Nuevo village, in Cubará, Boyacá, and in the San Carlos village, in El Tarra in Norte de Santander.
Source: El Colombiano
Date: May 06
Headline: After the ceasefire, Eln attacks the pipelines
Since Saturday, a few hours after Eln ended the unilateral ceasefire, seven attacks have been recorded against the Caño Limón-Coveñas and Bicentenario pipelines in the departments of Arauca, Norte de Santander, and Boyacá. Cenit, a subsidiary of Ecopetrol, condemned the attacks, which not only cause damage to the country's assets but are also more complex to repair at this time due to the coronavirus. The companies in charge activated contingency plans to prevent further damage in the regions.
Source: El Heraldo
Date: May 06
Headline: Natural gas discovered in the Bullerengue 3 well in the department of Atlántico
The discovery strengthens the outlook for the Caribbean Region. Hocol, a subsidiary of Ecopetrol, confirmed the presence of natural gas in the Bullerengue 3 well, located 30 kilometers from Barranquilla. This new finding adds to that of the Bullerengue Sur-1 well operating near the town of Sabanalarga. According to information provided by the oil company, the records and information taken during drilling indicate that the well found sands with natural gas in several intervals of a reservoir shallower than that of the structure drilled in 2015 with the Bullerengue 1 well, which produces from the Chengue Formation of Eocene age. (…) In early April of this year, Hocol received authorization from the Superintendence of Industry and Commerce (SIC) for the integration to acquire Chevron Petroleum Company's stake in the Chuchupa and Ballena fields located in the department of La Guajira, Colombia, which it began operating from last Friday, May 1.
Source: Vanguardia Liberal
Date: May 06
Headline: The Gran Vía Yuma resumed activities in Sector One
The District and Ecopetrol continue to move forward with the reactivation plan on various fronts. While the city has already approved 15 action plans, Ecopetrol is advancing in the protocols for its road projects. The economic reactivation of Barrancabermeja continues to spread its wings, and proof of this is the reopening of 15 companies in the manufacturing and construction sectors, in addition to the progress of the plan being developed between Ecopetrol and the District aimed at the gradual resumption of all petrochemical activities and road projects in which the oil company is committed. (…) As previously mentioned, the Gran Vía Yuma project is executed by Ecopetrol through an agreement signed with Invías, the Government of Santander, and the Mayor's Office of Barrancabermeja.
Source: El Frente
Date: May 06
Headline: Dredging progresses in the Magdalena River
With the compliance of biosecurity protocols, the dredging works and the execution of fuel supply operations for the Barrancabermeja refinery by Ecopetrol for the national territory are advancing, with optimal navigability conditions of the Magdalena River. This was assured by Pedro Pablo Jurado, director of Cormagdalena, who, during a tour this week of the country's main river artery, accompanied by the mayor of Barrancabermeja, Alfonso Eljach, inspected the dredging work being carried out in the river.
Source: laschivasdelllano.com
Date: May 06
Headline: Cenit condemns wave of attacks against pipelines in the east of the country
Cenit, a subsidiary of the Ecopetrol Group, reports that it activated the contingency plan for the Caño Limón-Coveñas and Bicentenario pipelines to address the emergencies caused by seven attacks that occurred since last Saturday in Arauca, Boyacá, and Norte de Santander. In recent hours, three attacks occurred against the Caño Limón Coveñas system in the Las Acacias, Guamalito, and La Ceiba villages of the municipality of Arauquita. Additionally, during the afternoon of Saturday, there were impacts in the El Consuelo village, municipality of Saravena, which are being addressed by specialized personnel. (…) As soon as the events were known, the company informed the municipal risk and disaster management councils and the Autonomous Regional Corporation of Orinoquía, and the respective contingency plans were activated.
Topics
Source: La República
Date: May 06
Headline: Dollar falls due to greater optimism in the markets
After several days trading around $4,000, on Tuesday the dollar reached an average price of $3,926.05, which represented a drop of $64.05 against the Representative Market Rate (TRM), which stood at $3,990.10. (…) For Carlo Alberto da Casa, chief analyst at ActivTrades, oil is seeing light at the end of the tunnel. “This view may be too optimistic, but we are seeing a rebound in all WTI futures expirations, including the June expiration. This means that investors no longer expect to face storage issues in the coming weeks,” he said. (…) Edward Moya, senior market analyst at Oanda, attributed the increase in crude profits to “production cuts in oil happening everywhere, like those announced by Exxon, Chevron, and ConocoPhillips.”.
Institutional
Source: Q Hubo Bucaramanga
Date: May 05
Headline: The Magdalena drives the economy
The most recent visit by authorities to the dredging works of the Magdalena River served to confirm once again that the 1,528 kilometers of this waterway is one of the engines keeping the national economy afloat amid the crisis generated by the new coronavirus pandemic. (…) Today we witnessed alongside the Mayor of Barrancabermeja how the successful management of these works with all biosecurity protocols has not only prevented COVID-19 infections but has also increased cargo and competitiveness and improved operational conditions for Ecopetrol at this critical moment,» highlighted the Director of Cormagdalena. For his part, Mayor Alfonso Eljach indicated that it is an opportunity for development in difficult times.
Colombian Association of Oil and Gas