Ecopetrol (EC) 6-K 27 Oct 21 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2021
Document and Entity Information [Abstract]
Document Type	6-K
Document Period End Date	Jun. 30, 2021
Entity Registrant Name	ECOPETROL S.A.
Entity Central Index Key	0001444406
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Amendment Flag	false

Interim condensed consolidated

Interim condensed consolidated statement of financial position - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 5,021,544	$ 5,082,308
Trade and other receivables	9,539,636	4,819,092
Inventories	7,177,346	5,053,960
Other financial assets	206,284	2,194,651
Current tax assets	5,564,971	3,976,295
Other assets	1,707,283	1,664,036
Current assets subtotal	29,217,064	22,790,342
Assets held for sale	52,613	44,032
Total current assets	29,269,677	22,834,374
Non-current assets
Trade and other receivables	738,303	676,607
Other financial assets	1,192,424	877,008
Investment in associates and joint ventures	3,311,616	3,174,628
Property, plant and equipment	69,380,093	66,508,338
Natural and environmental resources	33,235,969	31,934,159
Right-of-use assets	352,639	377,886
Intangible assets	588,393	555,043
Non-current tax assets	8,573,600	8,071,733
Goodwill	1,594,279	1,594,279
Other assets	1,132,741	1,090,114
Total non-current assets	120,100,057	114,859,795
Total assets	149,369,734	137,694,169
Current liabilities
Loans and borrowings	5,323,448	4,923,346
Trade and other payables	9,760,093	8,449,041
Provisions for employee benefits	1,926,005	2,022,137
Current tax liabilities	700,785	1,243,883
Accrued liabilities and provisions	1,019,076	1,221,109
Other liabilities	567,021	391,771
Current liabilities sub total	19,296,428	18,251,287
Liabilities related to non-current assets held for sale	33,240	31,156
Total current liabilities	19,329,668	18,282,443
Non-current liabilities
Loans and borrowings	44,737,022	41,808,408
Trade and other payables	16,336	21,064
Provisions for employee benefits	11,010,528	10,401,530
Non current tax liabilities	2,037,091	1,866,054
Accrued liabilities and provisions	11,635,166	11,206,621
Other liabilities	612,878	608,686
Total non-current liabilities	70,049,021	65,912,363
Total liabilities	89,378,689	84,194,806
Equity
Subscribed and paid in capital	25,040,067	25,040,067
Additional paid in capital	6,607,699	6,607,699
Reserves	10,624,229	9,635,136
Other comprehensive income	8,583,328	7,947,062
Retained earnings	5,531,516	669,900
Equity attributable to owners of parent	56,386,839	49,899,864
Non-controlling interest	3,604,206	3,599,499
Total equity	59,991,045	53,499,363
Total liabilities and equity	$ 149,369,734	$ 137,694,169

Interim condensed consolidate_2

Interim condensed consolidated statement of profit or loss - COP ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Interim condensed consolidated statement of profit or loss
Revenue from contracts with customers	$ 36,718,764	$ 23,641,913
Cost of sales	(21,943,441)	(18,909,589)
Gross profit	14,775,323	4,732,324
Administrative expenses	(1,178,900)	(1,371,952)
Operations and project expenses	(1,161,213)	(1,120,624)
Impairment (reversal of impairment) of long-lived assets	3,446	(1,204,279)
Other operating (expenses) income	(300,315)	1,411,374
Operating income	12,138,341	2,446,843
Financial results
Finance income	140,609	793,095
Financial expenses	(1,727,902)	(2,090,445)
Foreign exchange (loss) gain	103,627	32,991
Financial result, net	(1,483,666)	(1,264,359)
Share of profits of associates and joint ventures	115,236	61,965
Profit before income tax expense	10,769,911	1,244,449
Income tax expense	(3,641,359)	(908,951)
Net profit for the period	7,128,552	335,498
Net profit (loss) attributable to:
Owners of parent	6,546,938	(258,716)
Non-controlling interest	581,614	594,214
Net profit (loss) for the period	$ 7,128,552	$ 335,498
Basic and diluted earnings per share ($COP)	$ 159.2	$ (6.3)

Interim condensed consolidate_3

Interim condensed consolidated statement of other comprehensive income - COP ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Interim condensed consolidated statement of other comprehensive income
Net profit for the period	$ 7,128,552	$ 335,498
Other comprehensive income that may be reclassified to profit or loss in subsequent periods, net of taxes:
Cash flow hedge for future exports	(220,035)	(341,091)
Hedge of a net investment in a foreign operation	(1,847,479)	(2,034,239)
Cash flow hedge with derivative instruments	(100,105)	(56,777)
Foreign currency translation	3,576,343	5,060,280
Sale of joint venture	(361,728)	0
Unrealized loss on equity instruments measured at fair value	1,046,996	2,628,173
Other comprehensive income that will not to be reclassified to profit or loss in subsequent periods -net of taxes:
Remeasurement loss on defined benefit plans	(357,891)	(45,472)
Other losses	(357,891)	(45,472)
Other comprehensive income for the period, net of tax	689,105	2,582,701
Total comprehensive income for the period, net of tax	7,817,657	2,918,199
Comprehensive income attributable to:
Owners of parent	7,183,202	2,193,925
Non-controlling interest	634,455	724,274
Total comprehensive income for the period, net of tax	$ 7,817,657	$ 2,918,199

Interim condensed consolidate_4

Interim condensed consolidated statement of changes in equity - COP ($) $ in Millions	Subscribed and paid-in capital	Additional paid-in capital	Reserves	Other comprehensive income	Retained earnings	Total	Non-controlling interest	Total
Opening balance at Dec. 31, 2019	$ 25,040,067	$ 6,607,699	$ 3,784,658	$ 6,646,660	$ 12,334,706	$ 54,413,790	$ 3,817,838	$ 58,231,628
Net profit	0	0	0	0	(258,716)	(258,716)	594,214	335,498
Release of reserves	0	0	(540,826)	0	540,826	0	0	0
Dividends declared	0	0		0	(7,401,005)	(7,401,005)	(728,022)	(8,129,027)
Change in participation in subsidiaries	0	0	0	0	0	0	160	160
Legal	0	0	1,325,148	0	(1,325,148)	0	0	0
Fiscal and statutory reserves	0	0	509,082	0	(509,082)	0	0	0
Occasional	0	0	4,557,074	0	(4,557,074)	0	0	0
Other comprehensive income	0	0	0	2,452,641	0	2,452,641	130,060	2,582,701
Closing balance at Jun. 30, 2020	25,040,067	6,607,699	9,635,136	9,099,301	(1,175,493)	49,206,710	3,814,250	53,020,960
Opening balance at Dec. 31, 2019	25,040,067	6,607,699	3,784,658	6,646,660	12,334,706	54,413,790	3,817,838	58,231,628
Closing balance at Dec. 31, 2020	25,040,067	6,607,699	9,635,136	7,947,062	669,900	49,899,864	3,599,499	53,499,363
Net profit	0	0	0	0	6,546,938	6,546,938	581,614	7,128,552
Release of reserves	0	0	(5,066,156)	0	5,066,156	0	0	0
Dividends declared	0	0		0	(698,984)	(698,984)	(603,817)	(1,302,801)
Change in participation in subsidiaries	0	0	0	0	2,755	2,755	(11,106)	(8,351)
Capital restitution	0	0	0	0	0	0	(14,823)	(14,823)
Legal	0	0	168,808	0	(168,808)	0	0	0
Fiscal and statutory reserves	0	0	509,082	0	(509,082)	0	0	0
Occasional	0	0	5,377,359	0	(5,377,359)	0	0	0
Other comprehensive income	0	0	0	636,266	0	636,266	52,839	689,105
Closing balance at Jun. 30, 2021	$ 25,040,067	$ 6,607,699	$ 10,624,229	$ 8,583,328	$ 5,531,516	$ 56,386,839	$ 3,604,206	$ 59,991,045

Interim condensed consolidate_5

Interim condensed consolidated statement of cash flow $ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2021COP ($)	Jun. 30, 2020COP ($)
Cash flow provided by operating activities:
Net profit for the period	$ 7,128,552	$ 335,498
Adjustments to reconcile the net profit to net cash provided by operating activities:
Income tax expense	3,641,359	908,951
Depreciation, depletion and amortization	4,697,645	4,526,524
Foreign exchange loss (gain)	258,101	(32,991)
Realization of other comprehensive income from the sale of a joint venture	(361,728)	0
Finance expenses of loans and borrowings	1,166,137	1,138,478
Finance cost of post-employment benefits and abandonment costs	463,996	433,306
Write off of exploratory assets and dry wells	170,204	100,186
Loss on disposal of non-current assets	17,441	2,233
Gain derived from business combinations	0	(1,373,112)
Gain on loss of control	0	(65,570)
Impairment loss of short-term assets	18,844	7,304
(Reversal) of impairment loss / impairment loss of non-current assets	(3,446)	1,204,279
Loss (gain) on fair value adjustment of financial assets	18,978	(42,499)
Loss (gain) on hedging transactions with derivatives	9,931	(87,959)
Share of profit of associates and joint ventures	(115,236)	(61,965)
Hedge ineffectiveness	14,190	8,384
Realized loss on foreign exchange cash flow hedges	81,096	97,111
Net change in operational assets and liabilities:
Trade and other receivables	(4,625,360)	893,520
Inventories	(1,969,700)	821,844
Trade and other payables	691,693	(3,428,039)
Tax assets and liabilities	(1,386,835)	(1,200,357)
Provisions for employee benefits	(323,663)	(7,565)
Provisions and contingencies	76,363	(111,621)
Other assets and liabilities	49,025	242,399
Cash flows from (used in) operations	9,717,587	4,308,339
Income taxes paid	(3,470,634)	(3,983,753)
Net cash provided by operating activities	6,246,953	324,586
Cash flow used in investing activities:
Investment in property, plant and equipment	(2,257,841)	(1,982,520)
Investment in natural and environmental resources	(2,866,790)	(3,842,198)
Acquisitions of intangibles	(63,345)	(20,279)
Sales (purchases) of other financial asset	1,706,698	(571,512)
Interests received	67,855	179,505
Dividends received	82,038	71,834
Proceeds from sales of assets	10,758	9,446
Net cash used in investment activities	(3,320,627)	(6,155,724)
Cash flow used in financing activities:
Proceeds from borrowings	70,125	11,875,213
Repayment of borrowings	(751,216)	(747,509)
Interest payments	(1,213,422)	(1,054,873)
Lease payments	(150,191)	(171,260)
Dividends paid	(1,150,541)	(2,336,560)
Net cash (used in) provided by financing activities	(3,195,245)	7,565,011
Exchange difference in cash and cash equivalents	208,155	438,316
Net (decrease) increase in cash and cash equivalents	(60,764)	2,172,189
Cash and cash equivalents at the beginning of the period	5,082,308	7,075,758
Cash and cash equivalent at the end of the period	$ 5,021,544	$ 9,247,947

Reporting entity

Reporting entity	6 Months Ended
	Jun. 30, 2021
Reporting entity
Reporting entity	1. Reporting entity Ecopetrol S.A. is a mixed economy company, with a commercial nature, formed in 1948 in Bogotá – Colombia, headquarters of the Ecopetrol Business Group. Its corporate purpose is to develop commercial or industrial activities arising from or related to the exploration, production, refining, transportation, storage, distribution, and selling of hydrocarbons, their by-products and associated products on its own or through its subsidiaries (hereafter “Ecopetrol”, the “Company” or Ecopetrol Business Group). An 11.51% of Ecopetrol S.A.’s shares are publicly traded on the Stock Exchanges of Colombia and New York, USA. The remaining shares (88.49% of the total outstanding shares) are owned by the Colombian Ministry of Finance and Public Credit. The address of the main office of Ecopetrol S.A. is Bogotá – Colombia, Carrera 13 No. 36 - 24.

Basis of presentation

Basis of presentation	6 Months Ended
	Jun. 30, 2021
Basis of presentation
Basis of presentation	2. Basis of presentation 2.1 Statement of compliance and authorization of financial statements The interim financial information included in this report has been prepared in accordance with IAS 34 ‘Interim Financial Reporting’. The results for the interim periods are unaudited and, in the opinion of management, include all adjustments necessary for a fair presentation of the results for each period. All such adjustments are of a normal recurring nature. This report should be read in conjunction with the consolidated financial statements and notes for the year ended 31 December 2020 included in Form 20-F 2020. Ecopetrol Business Group prepares its consolidated financial statements included within Form 20-F on the basis of International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The financial information presented herein has been prepared in accordance with the accounting policies expected to be used in Form 20-F 2021 which are the same as those used in the previous year. These unaudited interim condensed consolidated financial statements were approved by the Group's Board of Directors on October 1 st , 2021. 2.2 As mentioned in the Consolidated Financial Statements as of December 31, 2020, since the beginning of the pandemic in Colombia, the Group has taken the measures to ensure the sustainability of the business in an environment of low prices during 2020, prioritizing the opportunities to cash generation with better equilibrium prices, maintaining growth dynamics with a focus on executing strategic asset development plans and preserving the value of assets through investments that provide reliability, integrity and continuity to the current operation in refineries, transportation systems and production fields. In addition, during 2021, the behavior of crude oil and products prices has shown a recovery due to the maintenance of supply, given fact that the Organization of the Petroleum Exporting Countries (OPEC) has a preponderant factor to keep the market balanced. In terms of demand, vaccination campaigns began in several countries around the world, increasing the expectations of a sustained recovery, taking Brent to an average of 65.2 USD/Bl (2020 - 42.1 USD / Bl). The Group will continue monitoring the evolution of the COVID-19 pandemic and the markets to determine the need to implement subsequent stages of the intervention plan and will continuously review the indicators of impairment of long-lived assets and investments in companies. 2.3 For presentation purposes, these consolidated condensed interim financial statements were prepared by consolidating all companies set out in Exhibit 1, in which Ecopetrol exercises control, directly or indirectly. The subsidiaries are consolidated from the date on which control is obtained until the date on which it ceases. The acquisition of Guajira Association on May 1, 2020, that was accounted for as a business combination under IFRS 3, Business Combination

Significant accounting judgment

Significant accounting judgments and estimates	6 Months Ended
	Jun. 30, 2021
Significant accounting judgments and estimates
Significant accounting judgments and estimates	3. Significant accounting judgments and estimates The preparation of the financial statements requires that the Company’s Management makes estimates to quantify some of the assets, liabilities, income, expenses and commitments. These estimates have been determined based on the best available information on the facts analyzed. Changes to these estimates are recognized prospectively in the period in which the estimate is revised. In the course of 2021, there have been no changes in the significant accounting estimates and judgments used in the preparation of the consolidated financial statements as of December 31, 2020.

Accounting policies

Accounting policies	6 Months Ended
	Jun. 30, 2021
Accounting policies
Accounting policies	4. Accounting policies The Group’s main accounting policies are described in the accounting policies section of the annual report with a cut-off date of December 31, 2020 and they have been applied consistently for the period comprising these unaudited interim condensed consolidated financial statements, except for the adoption of new standards effective as of January 1, 2021. The unaudited interim condensed consolidated financial statements do not include all the information and disclosures required in the annual consolidated financial statements, and therefore should be read in conjunction with the consolidated financial statements as of December 31, 2020.

New standards and regulatory ch

New standards and regulatory changes	6 Months Ended
	Jun. 30, 2021
New standards and regulatory changes
New standards and regulatory changes	5. New standards and regulatory changes 5.1 New standards adopted by the Group, effective as of January 1, 2021 ● Reform to the benchmark interest rate phase 2: In August 2020, IASB published this draft, which complements the one issued in 2019 and focuses on the effects on the financial statements when a company replaces the benchmark interest rate above for an alternative reference rate. The modifications in this phase refer to changes in contractual cash flows, hedge accounting and risk management disclosures. Benchmark interest rates such as interbank offer rates (IBOR) have an important role in global financial markets, being “LIBOR” one of the most used by various companies for corporate debt and derivative instruments trading, among others. The G20 asked the Financial Stability Board (FSB) to carry out a review of the main benchmark interest rates. As a result of the review, LIBOR and other rates are expected to be replaced with new ones that give greater confidence to the markets in general. Within the accounting analysis, Ecopetrol established that the contractual cash flows of financial assets or liabilities measured at amortized cost would change as a result of the IBOR reform; however, it is expected that this change will not have an application impact on the financial statements, given the exceptions provided by the amendment where it is established that, if the modification occurs as a direct consequence of the interest rate reform and the new rate is economically equivalent to the previous basis, the entity will not have to make a re-estimate of future interest payments. Monthly financial expenses will be measured at the new interest rate without implying a remeasurement in the rate that could affect the current cost of the financial asset and/or financial liability. 5.2 New standards issued by the IASB that will enter into force in future periods The IASB issued amendments to the following IFRS, with application as of January 1, 2022 or subsequent periods, it is clarified that the application of these amendments in Colombia is subject to the decrees issued by the Ministry of Industry, Commerce and Tourism: ● IAS 16 - Property, plant and equipment: amendment that determines the prohibition to deduct from the cost of property, plant and equipment the sales revenue of goods produced, while the company prepares the asset for its intended use. The Ecopetrol Business Group is assessing the application of the amendment to IAS 16 in sales to third parties of the extensive production tests; disclosing separately the amounts of income and costs related to the items produced. ● IFRS 3 - Business combinations: a reference from the standard to the Conceptual Framework was updated. ● IAS 37 - Provisions, Liabilities and Contingent Assets: in which it details the costs that an entity must include when determining whether a contract is onerous. ● Annual improvement cycle 2018-2020 that involves adjustments to IFRS 1 - subsidiary as a first-time adopter, IAS 41 – taxation in fair value measurements, IFRS 16 – lease incentives and IFRS 9 – fees in the 10% test for derecognition of financial liabilities, which clarifies the fees that an entity includes when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. ● Amendment to IAS 1 - Classifications of liabilities as currents or non-current effective as of January 1 st , 2023 as well as the following limited scope amendments. ● Amendments to IAS 1 - Presentation of financial statements. Companies should disclose material information about their accounting policies and apply the concept of materiality to disclosures of accounting policies. ● Amendments to IAS 8 - Accounting policies, changes in accounting estimates and errors. Clarifies how companies should distinguish changes in accounting policies from changes in accounting estimates. ● Amendments to IAS 12 Deferred taxes related to assets and liabilities that are recognized in a single transaction. The purpose of the amendments is to reduce the diversity in reporting of deferred tax on leases and abandonment obligations. The modifications are effective for the annual periods as of January 1, 2023. The Group is constantly monitoring changes in local accounting regulations to assess the possible impacts that the new standards issued by the international organization may generate in their adoption in Colombia. ​

Cash and cash equivalents

Cash and cash equivalents	6 Months Ended
	Jun. 30, 2021
Cash and cash equivalents.
Cash and cash equivalents	6. Cash and cash equivalents ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Banks and corporations 4,749,147 4,215,518 Short-term investments 272,141 866,606 Cash 256 184 ​ 5,021,544 5,082,308 ​ As of June 30, 2021, restricted resources were included for COP$71,095 (December 31, 2020 for COP$13,679), mainly destined for the exclusive payment of capital and interest on loans incurred by Oleoducto Bicentenario de Colombia S.A.S. The fair value of cash and cash equivalents approximates their carrying amount due to their short-term nature (less than three months) and their high liquity.

Trade and other receivables, ne

Trade and other receivables, net	6 Months Ended
	Jun. 30, 2021
Trade and other receivables, net
Trade and other receivables, net	7. Trade and other receivables ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Current Customers Foreign 2,987,223 ​ 2,021,070 Domestic 2,236,968 ​ 1,913,106 Fuel price stabilization fund (1) 3,785,873 ​ 319,927 Employee loans ​ 91,738 ​ 97,723 Industrial services ​ 41,007 ​ 39,651 Related parties (Note 28) ​ 28,332 ​ 105,048 Others (2) 368,495 ​ 322,567 ​ 9,539,636 ​ 4,819,092 Non–current ​ Employee loans 461,709 ​ 474,693 Domestic customers ​ 55,479 ​ 51,955 Others (2) 221,115 ​ 149,959 ​ 738,303 ​ 676,607 ​ (1) Corresponds to the application of Resolution 180522 of March 29, 2010 and other regulations that modify and add it (Decree 1880 of 2014 and Decree 1068 of 2015), which establishes the procedure to recognize the subsidy for refiners and importers of motor gasoline current and ACPM, and the methodology for calculating the net position (value generated between the parity price and the regulated price, which can be positive or negative). According to the Resolution, the increase in receivables corresponds to the increase in Brent prices. (2) Corresponds mainly to crude oil loan agreements in transportation systems. The carrying amounts of trade and other receivables approximate their fair values.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2021
Inventories
Inventories	8. Inventories ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Crude (1) 2,646,261 1,719,426 Fuels and petrochemicals 2,357,105 1,407,297 Materials for goods production 2,173,980 1,927,237 ​ 7,177,346 5,053,960 ​ (1) The variation is mainly generated by the increase in the price of crude oil given the recovery of international benchmarks observed in 2021 and by a higher level of inventory in transit.

Other financial assets

Other financial assets	6 Months Ended
	Jun. 30, 2021
Other financial assets
Other financial assets	9. Other financial assets ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Assets measured at fair value Investment portfolio – Local currency 468,725 ​ 474,535 Investment portfolio – Foreign currency 913,753 ​ 2,494,124 Assets measured at fair value through other comprehensive income 1,182 ​ 732 Hedging instruments (1) 11,460 ​ 98,877 ​ ​ 1,395,120 ​ 3,068,268 Assets measured at amortized cost 3,588 ​ 3,391 ​ 1,398,708 ​ 3,071,659 Current 206,284 ​ 2,194,651 Non–current 1,192,424 ​ 877,008 ​ ​ 1,398,708 ​ 3,071,659 ​ (1) As of June 30, 2021, it corresponds to swap contracts to hedge commodity price risk and forwards to hedge exchange rate risk. ​ Fair value ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Level 1 120,893 5,273 Level 2 1,274,227 3,062,995 ​ 1,395,120 3,068,268 ​ There were no transfers between hierarchy levels during the periods. For the process of establishing levels of the fair value for investments, in addition to the information used for valuation, other relevant aspects are also considered, such as the issuer rating, investment rating and issuer risk analysis performed by the Group, thus making it possible to establish the appropriate hierarchy level for investments.

Taxes

Taxes	6 Months Ended
	Jun. 30, 2021
Taxes
Taxes	10. Taxes 10.1 Current tax assets and tax liabilities ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Current tax assets ​ ​ Income tax (1) ​ 2,351,296 1,823,027 Credit tax balance (2) ​ 2,135,113 1,311,693 Other taxes (3) ​ 1,078,562 ​ 841,575 ​ ​ 5,564,971 3,976,295 Non-current tax assets ​ ​ ​ ​ Deferred tax (4) ​ 8,162,781 ​ 7,673,912 Income tax (5) ​ 410,819 ​ 397,821 ​ ​ 8,573,600 ​ 8,071,733 ​ ​ ​ ​ ​ Current tax liabilities ​ ​ ​ Income tax payable (6) ​ 246,794 811,197 Industry and commerce tax ​ 123,536 ​ 161,813 National tax and surcharge on gasoline ​ 142,535 137,710 Carbon tax ​ 45,233 64,091 Value added tax ​ 53,411 ​ 5,607 Other taxes ​ 89,276 63,465 ​ ​ 700,785 1,243,883 ​ ​ ​ ​ ​ Non-current tax liabilities ​ ​ ​ ​ Deferred tax (7) ​ 1,784,493 ​ 1,639,206 Income tax (8) ​ 252,598 ​ 226,848 ​ ​ 2,037,091 ​ 1,866,054 ​ (1) Given the payment for self-withholdings during the year, credit for foreign tax paid, credit for 50% of the industry and commerce paid has generated a favorable balance for the term. (2) Corresponds mainly to the Ecopetrol´s value added tax (VAT) and credit industry and commerce tax balance. (3) Includes the VAT credit derived from the acquisition of real productive fixed assets, following Article 95 of Law 2010 of 2019 and municipal advance payments and municipal self-withholdings. (4) The increase presented in the deferred tax asset during 2021, was generated mainly by the effect of foreign exchange in loans. The financial projections of the Group estimate that in the future enough fiscal profits will be generated to allow their recoverability within the terms established in the current fiscal regulations. (5) Corresponds to the effective VAT credit paid on the acquisition of real productive fixed assets, which, given the limitations established by law, will be used in future income tax returns. (6) Corresponds mainly to the Ocensa and Cenit value income tax advances for the fiscal year 2021. (7) The increase is mainly due to the variation in the exchange rate. (8) The advance payment mechanism of “works for taxes” is regulated by article 800 of the tax statute, which established it as a form of payment in respect to the income tax payable for the years 2017, 2018 and 2019. In compliance therewith, in May 2018, 2019 and 2020, the Group recognized an asset and a liability for the value of the projects designated for each fiscal year. According to IAS 34, for deferred income tax calculation purposes, the Company used the best estimate of the weighted average annual income tax rate expected for the full financial year. 10.2 Income tax In accordance with Law 2010/2019 (Tax Reform) the tax provisions applicable in Colombia for the taxable year 2021 are the following: - The general rate of income tax applicable to national companies, permanent establishments and foreign entities will be 31% and 30% for the year 2022 and subsequent years. - For the years 2020 and 2021, the applicable rate for purposes of calculating the income tax under the presumptive income system will be 0.5% and 0%, respectively, of the taxpayer's net worth from the immediately previous year. - The income tax for tax free trade zone users will be 20% if the company is located in the free zones and has a Legal Stability Agreement (hereinafter, LSA) the income tax rate will continue to be 15% during the term of said contract. This is the case of Refinería de Cartagena S.A.S. (“Reficar”) and Esenttia Masterbatch Ltda. ("Esenttia MB"). - For fiscal year 2021, the Group had subsidiaries that were subject to a 31% income tax rate, subsidiaries located in free trade zones that were subject to a 15% income tax rate depending upon whether or not they complied with the LSA rules and other subsidiaries that were subject to statutory income tax rates applicable in countries where they are incorporated. - The tax depreciation percentages are adjusted based on the table established in Law 1819 of 2016. On the other hand, oil investments amortization will be calculated based on the technical production units as it is recorded for accounting purposes. - The cost of acquisition of exploration rights, geology and geophysics (G&G), exploratory drilling, among others, is capitalized for tax purposes until the technical and commercial feasibilities of extracting the resource are achieved. - Tax losses generated as of January 1, 2017, may be offset by the liquid income generated in the following 12 years. - Following the article 290 of Law 1819 of 2016, any excess between estimated income reported and CREE that has not yet been offset may be offset in accordance with the formula provided for this purpose in said article and subject to the term established in Article 189 of the Colombian Tax Code. Statute of limitation of review for tax returns By general rule, the statute of limitations for the income tax return corresponds to 3 years counted as from the due date to file the return or the filing date, when these have been filed late. Returns filed by taxpayers that have made transactions, subject to the transfer pricing regulations, have a five-year statute of limitations, for the tax returns that are filed as of January 1, 2020. For tax returns with credit balances, the statute of limitations will be 3 years as of the filing date of the request for refund or offsetting. For tax returns in which tax losses are carried forward, the statute of limitations will be 6 years (5 years from 2020) counted as of their filing date. With respect to tax returns where tax losses are calculated, the statute of limitations will be 12 years and if the losses are carried forward within the last 2 years of the 12–year period, the statute of limitations will be extended up to 3 additional years from the year of offsetting. The income tax returns of the taxable years 2011, 2012, 2014, 2015, 2016, 2017, 2018, 2019 and 2020 and income tax for equality - CREE - of the taxable years 2014, 2015, and 2016 of Group Companies are subject to acceptance and review by the tax authorities. Income tax expense ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ 2021 2020 ​ (Unaudited) ​ Current income tax 2,746,903 1,741,312 Deferred income tax 913,455 (801,302) Adjustments to prior years’ current and deferred tax ​ (18,999) ​ (31,059) Income tax expense ​ 3,641,359 ​ 908,951 ​ Reconciliation of the income tax expenses For interim periods, and in compliance with IAS 34, the income tax for the period is recognized by applying the effective tax rate projected for the year to the pre-tax accounting profit of the period of closing. The effective tax rate as of June 30, 2021 is 33.8%; the variation of -39.2 73.0 Deferred income tax ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Deferred tax assets ​ 8,162,781 7,673,912 Deferred tax liabilities ​ (1,784,493) (1,639,206) Net deferred income tax ​ 6,378,288 6,034,706 ​ The detail of deferred taxes assets and liabilities is as follows: ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 Deferred tax assets (liabilities) ​ (Unaudited) Loss carry forwards (1) ​ 3,541,693 4,478,606 Provisions (2) ​ 3,217,136 3,187,850 Employee benefits (3) ​ 2,038,462 1,874,242 Accounts payable ​ 25,084 (10,626) Loans and borrowings (4) ​ 1,983,432 ​ 846,019 Accounts receivable ​ 126,954 183,843 Excess presumptive income ​ — 61,722 Other ​ (17,844) ​ 47,269 Goodwill (5) ​ (366,346) (366,346) Property plant and equipment and Natural and environmental resources (6) ​ (4,170,283) (4,267,873) ​ ​ 6,378,288 6,034,706 ​ (1) The reduction compared to December 2020 mainly corresponds to the fact that the deferred tax associated with tax losses and excess presumptive income for Ecopetrol was offset based on the results and projections for the year. The deferred tax asset for tax losses corresponds to COP$3,541,693, made up of: Ecopetrol USA Inc. for COP$1,793,913, Refinería de Cartagena for COP$1,734,569, and Invercolsa COP$13,211. (2) Corresponds to non-deductible accounting provisions, mainly the asset retirement obligation (ARO) provision. (3) Actuarial calculations for health, pensions, education, pension bonuses and other long-term benefits to employees. (4) The increase is mainly due to the variation in the exchange rate. (5) According to Colombian tax law, goodwill acquired before 2017 is subject to amortization, while under IFRS it is not amortized but such goodwill is subject to impairment tests, and any difference results in a deferred tax liability. (6) For tax purposes natural and environmental resources and property, plant and equipment have a useful life and a methodology for calculating depreciation and amortization different from those determined under international accounting standards. Under NCIF (Accounting and Financial Information Standards accepted in Colombia), the useful life is determined by a technical analysis. This difference translates into a different depreciation base for accounting and tax purposes. Within this item the amount of tax is also included for capital gains of 10% on land, as well as the application of the income tax rate of 31% and 30% for the other assets. The Group offsets tax assets and liabilities only if it has a legally enforceable right to offset current tax assets and liabilities, and in the case of deferred tax assets and liabilities, to the extent that they also correspond to income taxes required by the same tax jurisdiction and by the same tax authority. Non-recognized deferred tax asset The deferred tax asset related to the tax losses generated by the following companies are not recognized, Andean Chemicals Ltd for COP$1,852, and the excess of presumptive income of Hocol Petroleum Company (“HPL”) for COP$12,077, Andean Chemicals Ltd for COP$4,332 and Refinería de Cartagena S.A.S for COP$227,680. Since Management has assessed and reached the conclusion it is not probable that the deferred tax asset related to these tax losses and presumptive income excesses will be recoverable in the short term. Additionally, the deferred tax asset was not recognized on the difference between the accounting and tax basis associated with investments in Ecopetrol subsidiaries and joint ventures (Base: COP$827,710 - Tax: COP$82,771), as the Ecopetrol Business Group does not have any intention of selling these assets in the foreseeable future and Ecopetrol is able to control the timing of the reversal of the temporary difference. The movements of deferred tax assets and liabilities to income for the periods ended June 30, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ Opening balance ​ 6,034,706 5,480,516 Deferred tax recognized in profit or loss ​ (929,331) ​ 928,517 Increase due to business combinations ​ — (383,346) Deferred tax recognized in other comprehensive income (a) ​ 1,084,030 ​ 89,526 Foreign currency translation ​ 188,883 (80,507) Closing balance ​ 6,378,288 ​ 6,034,706 ​ (a) The following is the composition of the income tax recorded against other comprehensive income: ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 (unaudited) Base Deferred tax Total Actuarial valuation gains (losses) 511,273 (153,382) 357,891 Cash flow hedging for future crude oil exports ​ 315,515 ​ (95,480) ​ 220,035 Hedge of a net investment in a foreign operation ​ 2,639,256 ​ (791,777) ​ 1,847,479 Hedge with derivative instruments 143,496 (43,391) 100,105 ​ 3,609,540 (1,084,030) 2,525,510 ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 Base Deferred tax Total Actuarial valuation gains (losses) (137,459) 41,238 (96,221) Cash flow hedging for future crude oil exports ​ (1,186) ​ 1,908 ​ 722 Hedge of a net investment in a foreign operation ​ 520,490 ​ (156,147) ​ 364,343 Hedge with derivative instruments (78,547) 23,475 (55,072) ​ ​ 303,298 ​ (89,526) ​ 213,772 ​

Other assets

Other assets	6 Months Ended
	Jun. 30, 2021
Other assets
Other assets	11. Other assets ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Current ​ ​ Partners in joint operations (1) ​ 638,313 ​ 534,145 Advanced payments to contractors and suppliers ​ 509,706 503,698 Prepaid expenses ​ 244,957 369,979 Trust funds (2) ​ 281,424 ​ 218,158 Related parties (Note 28) ​ 2,469 7,093 Other assets ​ 30,414 30,963 ​ ​ 1,707,283 1,664,036 Non–current ​ ​ ​ Abandonment and pension funds (3) ​ 410,586 405,376 Trust funds (2) ​ 373,494 338,067 Employee benefits (4) ​ 232,387 221,658 Advanced payments and deposits ​ 54,101 54,392 Judicial deposits and judicial attachments ​ 39,818 42,672 Other assets ​ 22,355 27,949 ​ ​ 1,132,741 1,090,114 ​ (1) Corresponds to the net value of cash calls and cutbacks generated in relation to the operations carried out with partners through Exploration and Production (E&P) contracts, Technical Evaluations (TEA) contracts and agreements entered in to with the National Hydrocarbons Agency of Colombia (ANH), as well as through association contracts and other types of contracts. (2) It mainly includes the resources invested in a trust destined to taxes paid through social and infrastructure projects, payment mechanism for 2019- and 2020-income tax, constituted in compliance with article 238 of Law 1819 of 2016 - Tax Reform. (3) Corresponds to Ecopetrol’s share in trusts established to support costs of abandonment of wells and dismantling of facilities as well as the payment of future retirement pensions in some association contracts. (4) Corresponds to the benefit of lower interest rates on employee loans, granted by Ecopetrol .

Investments in associates and j

Investments in associates and joint ventures	6 Months Ended
	Jun. 30, 2021
Investments in associates and joint ventures
Investments in associates and joint ventures	12. Investments in associates and joint ventures 12.1 ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Joint ventures ​ ​ Equion Energía Limited ​ 1,780,068 1,642,735 Offshore International Group (1) ​ — 613,258 Ecodiesel Colombia S.A. ​ 48,253 51,672 ​ ​ 1,828,321 2,307,665 Less impairment: ​ ​ Equion Energía Limited ​ (314,460) (314,460) Offshore International Group (1) ​ — (609,826) ​ ​ 1,513,861 1,383,379 Associates ​ ​ Gases del Caribe S.A. E.S.P. ​ 1,524,380 1,512,629 Gas Natural del Oriente S.A. E.S.P. ​ 139,502 143,893 Gases de la Guajira S.A. E.S.P. ​ 69,748 69,518 E2 Energía Eficiente S.A. E.S.P. ​ 34,761 ​ 35,614 Extrucol S.A. ​ 26,076 ​ 26,996 Serviport S.A. ​ 8,541 ​ 8,541 Sociedad Portuaria Olefinas ​ 3,288 2,599 ​ ​ 1,806,296 ​ 1,799,790 Less impairment: Serviport S.A. ​ (8,541) (8,541) ​ ​ 1,797,755 1,791,249 ​ ​ 3,311,616 3,174,628 ​ (1) On January 19, 2021, by signing the share purchase agreement with one of the subsidiaries of De Jong Capital LLC., as the buyer, Ecopetrol formalized the disposal of the entire participation in the equity in Offshore International Group (OIG), in which it had a participation of 50%. This operation generated the following impacts on the results of the period: profit from the sale of assets for COP$4,923 and the realization of other comprehensive income for COP$361,728 (Note 26). Movement of investments in associates and joint ventures for the period ended June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Balance as of December 31, 2020 1,791,249 1,383,379 3,174,628 Equity method recognized in: ​ ​ ​ Profit or loss 90,317 24,919 115,236 Share of other comprehensive income 488 124,044 124,532 Dividends declared (84,299) (15,000) (99,299) Transfers ​ — ​ (3,481) ​ (3,481) Balance as of June 30, 2021 (Unaudited) 1,797,755 1,513,861 3,311,616 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Balance as of December 31, 2019 1,826,757 1,418,315 3,245,072 Equity method recognized in: Profit or loss 114,779 (38,443) 76,336 Share of other comprehensive income (2,923) — (2,923) Dividends declared (148,665) (9,017) (157,682) Impairment reversal (loss) 2,529 (69,041) (66,512) Foreign currency translation (1,228) 81,565 80,337 Balance as of December 31, 2020 1,791,249 1,383,379 3,174,628 ​

Property, plant and equipment

Property, plant and equipment	6 Months Ended
	Jun. 30, 2021
Property, plant and equipment
Property, plant and equipment	13. Property, plant and equipment The movement of property, plant and equipment for the period ended June 30, 2021 with its corresponding depreciation and impairment, has been as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pipelines, ​ ​ ​ ​ ​ ​ ​ Plant and ​ networks and ​ Work in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ equipment ​ lines ​ progress ​ Buildings ​ Lands ​ Other ​ Total Cost Balance as of December 31, 2020 51,088,781 37,141,694 7,514,228 8,412,469 4,112,826 2,692,461 110,962,459 Additions/capitalizations 753,624 429,434 902,157 66,392 1,649 104,585 2,257,841 Decrease in abandonment cost (Note 20) — (22,521) — — — — (22,521) Capitalized financial interests (1) 31,761 14,117 13,558 2,014 88 5,442 66,980 Exchange differences capitalized ​ 954 ​ 424 ​ 407 ​ 61 ​ 3 ​ 164 ​ 2,013 Disposals (130,961) (12,809) (33) (8,821) (246) (24,679) (177,549) Foreign currency translation ​ 2,845,316 ​ 1,015,583 ​ 79,730 ​ 124,088 ​ 148,475 ​ 64,383 ​ 4,277,575 Reclassifications/transfers ​ (229,938) ​ 43,931 ​ (3,940) ​ 14,203 ​ — ​ (46,975) ​ (222,719) Balance as of June 30, 2021 (Unaudited) 54,359,537 38,609,853 8,506,107 8,610,406 4,262,795 2,795,381 117,144,079 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation and impairment losses Balance as of December 31, 2020 (21,256,869) ​ (17,558,024) ​ (1,023,456) ​ (3,628,724) ​ (78,548) ​ (908,500) ​ (44,454,121) Depreciation expense (1,159,638) ​ (748,567) ​ — ​ (183,338) ​ — ​ (53,827) ​ (2,145,370) (Impairment) Recovery 3,432 ​ — ​ — ​ 18 ​ — ​ — ​ 3,450 Disposals 124,202 ​ 3,577 ​ — ​ 5,451 ​ — ​ 22,981 ​ 156,211 Foreign currency translation ​ (975,677) ​ (432,119) ​ (932) ​ (40,976) ​ (3,130) ​ (32,463) ​ (1,485,297) Reclassifications/transfers 170,367 ​ (17,697) ​ 20,127 ​ (7,554) ​ — ​ (4,102) ​ 161,141 Balance as of June 30, 2021 (Unaudited) (23,094,183) ​ (18,752,830) ​ (1,004,261) ​ (3,855,123) ​ (81,678) ​ (975,911) ​ (47,763,986) Balance as of December 31, 2020 29,831,912 ​ 19,583,670 ​ 6,490,772 ​ 4,783,745 ​ 4,034,278 ​ 1,783,961 ​ 66,508,338 Balance as of June 30, 2021 (Unaudited) ​ 31,265,354 ​ 19,857,023 ​ 7,501,846 ​ 4,755,283 ​ 4,181,117 ​ 1,819,470 ​ 69,380,093 ​ (1) Financial interest is capitalized based on the weighted average rate of borrowing costs. See Note 17 - Loans and borrowings. ​ The Group performs an impairment test in December of each year or when circumstances indicate that the carrying value of its assets may be above the recoverable amount. The key assumptions for determining the recoverable value of cash generating units were disclosed in the financial statements for the year ended December 31, 2020. No indicators of impairment were identified by management on June 30, 2021.

Natural and environmental resou

Natural and environmental resources	6 Months Ended
	Jun. 30, 2021
Natural and environmental resources
Natural and environmental resources	14. Natural and environmental resources The movement of natural resources and the environment for the period ended June 30, 2021, with corresponding amortization, calculated based on production units, and impairment has been as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and gas Asset retirement Exploration and ​ ​ ​ investments ​ cost ​ evaluation ​ Total Cost Balance as of December 31, 2020 65,367,278 7,231,851 8,867,894 81,467,023 Additions /capitalizations (1) 1,320,790 268,342 1,277,658 2,866,790 Decrease in abandonment costs (Note 20) — (36,272) — (36,272) Disposals (2,910) — (4,924) (7,834) Disposals of exploratory assets and dry wells (2) — — (170,204) (170,204) Capitalized financial interests 41,235 — 14,436 55,671 Exchange differences capitalized 1,239 — 434 1,673 Foreign currency translation ​ 1,104,483 ​ 54,156 ​ 580,513 ​ 1,739,152 Reclassifications/transfers 209,981 1,309 11,865 223,155 Balance as of June 30, 2021 (Unaudited) 68,042,096 7,519,386 10,577,672 86,139,154 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated amortization Balance as of December 31, 2020 (46,106,147) (2,981,449) (445,268) (49,532,864) Amortization expense (1,675,973) (735,839) — (2,411,812) Disposals 325 — — 325 Foreign currency translation (788,135) (23,432) — (811,567) Reclassifications/transfers (256,321) — 109,054 (147,267) Balance as of June 30, 2021 (Unaudited) (48,826,251) (3,740,720) (336,214) (52,903,185) ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of December 31, 2020 19,261,131 4,250,402 8,422,626 31,934,159 Balance as of June 30, 2021 (Unaudited) 19,215,845 3,778,666 10,241,458 33,235,969 ​ (1) It mainly includes a) Ecopetrol Permian COP $1,108,482 for investments made in drilling of wells and construction of facilities executed in Rodeo, b) Ecopetrol S.A. COP $1,478,731 mainly Cantagallo, Casabe, Castilla, Chichimene and Rubiales fields and c) Hocol COP $188,752 mainly in Mamey-3, Pintado, Pozo Toldado, SN-8, Rc7 Pozo Basari y Ocelote wells. (2) It mainly includes the Moyote well by Ecopetrol México for COP $97,412 and Ecopetrol S.A. mainly includes the Aguas Blancas, Alqamari-1 and Nafta-1 wells for COP $29,650 , Hocol Chacha 2 well for COP$ 10,864 and from Ecopetrol America the Silverback # 1 well for COP$ 4,275 . Additionally, for Hocol includes exploratory and capitalized project expenses for COP$ 28,335 . Ecopetrol performs an impairment test in December of each year or when circumstances indicate that the carrying value of its assets may be above the recoverable amount. The key assumptions for determining the recoverable value of cash generating units were disclosed in the financial statements for the year ended December 31, 2020. No indicators of impairment were identified by management on June 30, 2021

Right-of-use assets

Right-of-use assets	6 Months Ended
	Jun. 30, 2021
Right-of-use assets
Right-of-use assets	15. Right-of-use assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets ​ ​ ​ ​ Lands and ​ Plant and ​ ​ ​ Right-of-use ​ Lease ​ buildings equipment ​ Vehicles assets liabilities Balance as of December 31, 2020 93,472 133,939 150,475 377,886 1,055,198 Additions 9,347 1,135 782 11,264 11,264 Amortization expense (15,535) (30,305) (42,278) (88,118) — Remeasurements 2,234 34,978 5,400 42,612 43,851 Disposals (208) — — (208) (5,085) Finance cost — — — — 27,621 Payment of capital and interests — — — — (150,191) Exchange difference 5,778 1,933 1,492 9,203 35,087 Balance as of June 30, 2021 (unaudited) 95,088 141,680 115,871 352,639 1,017,745 ​

Impairment of non-current asset

Impairment of non-current assets	6 Months Ended
	Jun. 30, 2021
Impairment of non-current assets
Impairment of non-current assets	16. Impairment of non-current assets According to the behavior of the key market assumptions as of June 30, 2021, no factors or circumstances were identified that indicate that the book value of its assets may be above its recoverable value. In terms of supply, there has been a recovery since the Organization of the Petroleum Exporting Countries (OPEC) has represented a preponderant factor to keep the market balanced. Additionally, better refining margins and vaccination campaigns have advanced in several countries of the world, raising expectations of a sustained recovery. Thus, the net movement in impairment in 2021 is a recovery of COP$3,446 mainly for Refinería de Cartagena S.A.S. and Cenit, due to the recovery of certain materials classified as property, plant and equipment. As of March 31, 2020, Ecopetrol performed a quantitative impairment analysis considering the pandemic situation that started in 2020 and its effect on market variables, adjusting the assumptions used in the December 31, 2019 assessment as follows: - Oil price - Brent: The price was adjusted for the first year (2020) going from US COP$ 55.61/Bl to US COP$ 40.00/Bl, the medium and long-term curve was maintained as it was used for the end of 2019. The quality differentials and refining margins were adjusted at this new price. - Discount rates: were updated with the macroeconomic variables after the price war began, for the exploration and production segment were used 5.47% and for investments in companies 7.21%. The volatility of the market variables used to calculate the weighted average cost of capital could generate significant variations in discount rates. In terms of the Oil and gas reserve balance as of March 31, 2020, the inputs and other assumptions remained constant as at the end of 2019. As of June 2020, the impairment recognition corresponds to property, plant and equipment ($655,087), natural resources ($495,656), investments in associates and joint ventures ($53,249) and other non-current assets ($287). The main production wells that recognized impairment expenses were Casabe, Tibú, Jazmin, Lisama and Hobo at Ecopetrol; Espinal, La Hocha, Cupia and La Punta in Hocol, and in K2 in America. An additional impairment was recognized in Offshore International Group.

Loans and borrowings

Loans and borrowings	6 Months Ended
	Jun. 30, 2021
Loans and borrowings
Loans and borrowings	17. Loans and borrowings 17.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ Interest rate* ​ 2021 ​ 2020 ​ 2021 2020 (Unaudited) ​ Local currency ​ ​ ​ ​ Bonds 8.4 % 6.4 % 1,085,068 1,084,461 Syndicate loans 5.9 % 5.6 % 706,173 811,079 Lease liabilities (1) ​ 6.3 % 6.6 % 795,630 ​ 836,489 Commercial loans and others ​ 3.8 % 6.3 % 351,926 ​ 312,408 ​ ​ ​ ​ ​ 2,938,797 3,044,437 Foreign currency Bonds (2) 6.0 % 6.0 % 37,083,467 33,944,548 Commercial loans 3.5 % 3.6 % 8,422,931 8,247,014 Loans from related parties (Note 28) ​ ​ ​ ​ 1,393,160 1,277,046 Lease liabilities (1) 6.1 % 6.1 % 222,115 218,709 ​ ​ ​ ​ ​ 47,121,673 43,687,317 ​ ​ ​ ​ ​ 50,060,470 46,731,754 Current ​ ​ ​ 5,323,448 4,923,346 Non–current ​ ​ ​ 44,737,022 41,808,408 ​ ​ ​ ​ ​ 50,060,470 46,731,754 ​ * Weighted average effective interest rate for the end of each period (1) Corresponds to the present value of the payments to be made during the term of the operating leases of pipelines, tanks, real estate and vehicles, recognized as a result of the adoption of IFRS 16 – Leases. See Note 15. (2) The movement corresponds mainly to the exchange rate and the recognition of the amortized cost of the financial instrument. 17.2 Fair value Fair value of loans and borrowings corresponds to COP$53,406,293 and COP$52,721,790 as of June 30, 2021 and December 31, 2020, respectively. For fair value measurement, local currency bonds were valued using Precia reference prices, while bonds in U.S. dollars, were valued using Bloomberg. Regarding the other financial obligations for which there is no market benchmark, a discount to present value technique was used. These rates incorporate market risk through some benchmarks (Libor, DTF) and the Group’s credit risk (spread). 17.3 The following is the maturity profile of loans and borrowings as of June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ year ​ 1 – 5 years 5-10 years > 10 years Total Local currency Bonds 83,953 393,012 362,357 245,746 1,085,068 Syndicate loans 239,018 467,155 — — 706,173 Lease liabilities ​ 164,448 ​ 380,922 ​ 224,051 ​ 26,209 ​ 795,630 Commercial loans and others 100,226 251,700 — — 351,926 ​ 587,645 1,492,789 586,408 271,955 2,938,797 Foreign currency ​ ​ ​ ​ ​ Bonds 2,080,731 20,340,676 8,942,639 5,719,421 37,083,467 Syndicate loans 1,159,535 4,410,301 357,242 — 5,927,078 Commercial loans 35,856 2,459,997 — — 2,495,853 Lease liabilities ​ 66,521 ​ 155,594 ​ — ​ — ​ 222,115 Loans from related parties (Note 28) 1,393,160 — — — 1,393,160 Balance as of June 30, 2021 (Unaudited) ​ 4,735,803 ​ 27,366,568 ​ 9,299,881 ​ 5,719,421 ​ 47,121,673 ​ 5,323,448 28,859,357 9,886,289 5,991,376 50,060,470 ​ 17.4 As of June 30, 2021, the Group designated USD$9,615 million of foreign currency debt as a hedging instrument of which, USD$8,315 million is used to hedge the net investment in foreign operations with the US dollar as their functional currency and USD$1,300 million is used to hedge the cash flows of future crude oil exports. See Note 27 - Risk Management.

Trade and other payables

Trade and other payables	6 Months Ended
	Jun. 30, 2021
Trade and other payables
Trade and other payables	18. Trade and other payables ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Current ​ ​ ​ ​ Suppliers 7,207,899 6,491,909 Partner's advances 967,790 497,898 Withholding tax 483,709 462,429 Dividends payable (1) 356,344 223,571 Insurance and reinsurance ​ 157,258 ​ 240,803 Deposits received from third parties 67,819 84,436 Related parties (Note 28) 56,868 72,316 Hedging operations (2) ​ 47,203 ​ 6,405 Agreements in transport contracts ​ 29,802 ​ 37,941 Various creditors 385,401 331,333 ​ 9,760,093 8,449,041 Non-current ​ ​ ​ ​ Deposits received from third parties 527 1,109 Various creditors 15,809 19,955 ​ 16,336 21,064 ​ (1) Corresponds to dividends declared by Oleoducto de los Llanos Orientales S.A. COP$ 73,587 , Oleoducto Bicentenario de Colombia S.A.S COP$ 212,724 , Oleoducto Central S.A. COP$ 34,502 , Inversiones de Gases de Colombia S.A. COP$ 31,816 and Ecopetrol S.A. COP$ 3,716 and payable to third parties. (2) Corresponds to the payable account for the settlement of swap contracts acquired to hedge the risk of crude export prices. The carrying amounts of trade and other payables approximate their fair value, due to its short-term nature.

Provisions for employee benefit

Provisions for employee benefits	6 Months Ended
	Jun. 30, 2021
Provisions for employee benefits.
Provisions for employee benefits	19. Provisions for employee benefits ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Post–employment benefits Healthcare 7,285,586 7,193,527 Pension (1) 3,372,901 2,819,985 Education 475,615 485,792 Bonds 386,713 342,669 Other plans 104,891 102,632 Termination benefits – Voluntary retirement plan (2) 686,534 713,407 ​ 12,312,240 11,658,012 Social benefits and salaries 537,777 674,080 Other long-term benefits 86,516 91,575 ​ 12,936,533 12,423,667 Current 1,926,005 2,022,137 Non–current 11,010,528 10,401,530 ​ 12,936,533 12,423,667 ​ (1) Corresponds to pension liabilities and plan assets, net. During 2021 the portfolios of the plan assets have been decreased considering the fair value valuation (Note 19.1). (2) It includes the obligation for the new voluntary retirement plan, on which Ecopetrol made offers to a part of its workers during 2020, to which 12 workers in 2021 and 421 in 2020 have accepted. This plan was approved at the end of 2019 by the Company's Board of Directors and includes the retirement of employees from January 2020 until December 2023, through 4 modalities: Compliance with the work cycle (pension), Retirement Plan A (Rent), Retirement Plan B (Bonus) and Enhanced Compensation. The following table shows the movement in profit and loss and in other comprehensive income for the periods ended June 30: ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ 2021 2020 ​ (Unaudited) Profit or loss Interest expense, net 319,540 306,050 Service cost 38,368 59,052 ​ 357,908 365,102 Other comprehensive income Pension and bonds (511,273) (64,897) Others — (63) ​ (511,273) (64,960) Deferred tax 153,382 19,488 ​ (357,891) (45,472) ​ 19.1 Plan assets Plan assets are represented by the resources held by pension trusts for the payment of the pension liabilities and pension bonds; what concerns health and education are the responsibility of Ecopetrol. The destination of the resources of the pension trusts, as well as their yields, cannot be changed of destination or returned to the Company until all the obligations are fulfilled. The balance of plan assets is COP$12,564,206 and COP$13,172,965 as of June 30, 2021 and December 31, 2020, respectively. Level 1 of fair value hierarchy corresponds to 37,6% 23,3% 62,4% 76,7%

Accrued liabilities and provisi

Accrued liabilities and provisions	6 Months Ended
	Jun. 30, 2021
Accrued liabilities and provisions
Accrued liabilities and provisions	20. Accrued liabilities and provisions ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Abandonment ​ Environmental ​ ​ ​ and dismantling ​ ​ ​ contingencies and ​ ​ ​ ​ costs ​ Litigations ​ others ​ Total Balance as of December 31, 2020 11,239,325 118,139 1,070,266 12,427,730 Update in abandonment costs (58,793) — — (58,793) Additions (recoveries) (5,663) 206,515 93,215 294,067 Uses (177,617) (1,136) (38,796) (217,549) Financial cost 143,593 — — 143,593 Foreign currency translation 92,485 308 22,146 114,939 Transfers (2,200) — (47,545) (49,745) Balance as of June 30, 2021 (unaudited) 11,231,130 323,826 1,099,286 12,654,242 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current 761,633 30,762 226,681 1,019,076 Non-current 10,469,497 293,064 872,605 11,635,166 ​ 11,231,130 323,826 1,099,286 12,654,242 ​ 20.1 Abandonment and dismantling costs The abandonment and dismantling obligation represents the Group's future obligation to restore environmental conditions to a level similar to that existing before the start of projects or activities, as described in Note 4.13 of the financial statements for the year ended December 31, 2020. As these relate to long-term obligations, the liability is determined based on expected future payments discounted to present value at a rate indexed to the Group's financial obligations, considering the timing and risks relating to this obligation. 20.2 Litigations During 2021, second instance rulings unfavorable to the interests of Ecopetrol SA have been notified. These rulings are related to public works contributions, which led to the recognition of a provision for COP$199,712 for rulings that have a unified judgment and that may be subject to payment to the tax authority. Nevertheless, Ecopetrol will continue to present the pertinent appeals against the rulings, to apply all the legal resources that may be appropriate to modify, totally or partially, rulings against issued. 20.3 Environmental contingencies and other Corresponds mainly to obligations of environmental compensation and forced investment of 1% for the use, exploitation or affectation of natural resources imposed by national, regional and local environmental authorities. The obligation of forced investment of no less than 1% applies to all projects that requires an environmental license and that involves the use of water taken directly from surface or underground natural sources, either for human consumption, recreation, irrigation or any other activity, in accordance with the provisions of the Law 99 of 1993, article 43, Decree 1900 of 2006, Decrees 2099 of 2017 and 075 and 1120 of 2018 and article 321 of Law 1955 of 2019 in relation to the projects that Ecopetrol develops in the regions. The National Government, through the Ministry of Environment and Sustainable Development, issued in December 2016 and in January 2017 Decrees 2099 and 075, through which it modifies the Single Regulatory Decree of the environment and sustainable development sector, Decree 1076 of 2015, in related to forced investment of not less than 1%. The decrees included modifications and guidelines regarding the geographical scope for the execution of activities for the fulfillment of the obligation, investment lines and the calculation of the base for the settlement of the obligations. Likewise, June 30, 2017 was defined as the maximum date to modify the Investment Plans that are in execution. In 2019, Law 1955/2019 was issued, which in its Article 321, defined the items to carry out the liquidation of the forced investment of no less than 1% and established all those holders of an environmental license who have pending investments to the date of promulgation of said Law, to update the value of the settlement base of the investment of 1% within the defined period, either by accepting the percentage of increase according to the year of start of activities authorized in the environmental license, or by the formula defined in the first paragraph of the said article. Therefore, Ecopetrol carried out the recertification of the settlement base and the acceptance of the percentage of updating of the investment values of 1% in more than 90 environmental licenses, generating a lower provision for this obligation. In 2021 and 2020, ANLA has ruled through resolutions on 90% of the requests submitted in relation to article 321 of Law 1955. Ecopetrol has filed an appeal for reconsideration with ANLA in most cases, which are under review by this authority during 2021. Ecopetrol is managing the contracts for the execution of these obligations. 20.4 Contingencies Oleoducto Bicentenario de Colombia S.A.S. During July 2018, the carriers Frontera Energy Colombia Corp. (Frontera), Canacol Energy Colombia S.A.S. (Canacol) and Vetra Exploración y Producción Colombia S.A.S. (Vetra and, together with Frontera and Canacol, the Carriers) sent letters to Oleoducto Bicentenario de Colombia S.A.S. (Bicentenario) alleging there were early termination rights under the Ship-or-Pay Transport Agreements entered by each of them and Bicentenario in 2012 (the Transport Agreements). Bicentenario has rejected the terms of the letters, noting that there is no option for early termination and reiterating to the Carriers that the Transport Agreements are current and therefore the Carriers must fulfill their obligations under the Transport Agreements in a timely fashion. Under Bicentenario’s understanding that the Transport Agreements remain current and that the Carriers are in violation of their obligations under such agreements, Bicentenario declared the Carriers delinquent because of their failure to pay for transport service under the agreements. Consequently, Bicentenario executed the standby letters of credit posted as guarantee for the Transport Agreements. On October 19, 2018, Bicentenario notified Frontera of the existence of a “Dispute” pursuant to Clause 20 of the respective Transport Agreement and moved to the party dispute settlement stage as provided for in such clause. Such discussions ended without an agreement on December 19, 2018. On January 28, 2019, Bicentenario filed an Arbitration Claim against Frontera in accordance with the arbitration clause of the Transportation Agreement to claim any compensation, indemnification or other restitution deriving from the alleged early termination of said agreements. Similarly, on November 1, 2018, Bicentenario notified Vetra and Canacol of the existence of a “Dispute” pursuant to Clause 20 of the respective Transport Agreement and moved to the party dispute settlement stage as provided for in each such respective clause. Such discussions ended without agreement in March 2019. During 2021 the arbitration proceedings between Bicentenario, Vetra and Canacol were completed. For more details on this matter, see section “Bicentenario, Cenit and Frontera Settlement Agreement” below. Cenit Transporte y Logística de Hidrocarburos S.A.S. (“Cenit”) In 2018, the Company filed an arbitration claim against Grupo Frontera for: - The improper termination of the transportation contracts for the Caño Limón Coveñas Pipeline. Cenit considers that the amounts owed by Frontera for this concept as of June 30, 2020, are COP$ 334,583. The abovementioned fees dispute was at the root of the opposition manifested by Frontera Group against the application of the fees defined by the Ministry of Mines and Energy for the period 2015-2019. The rate differential amounts to COP$ 110,254 which was placed by Frontera in a trust fund, whilst the balance of the debt according to Cenit’s accounting records on the same date are COP$ 99,734, thus evidencing that the amounts receivable are funded. Frontera has not paid the component of the fee related to the abandonment fund to which Cenit considers they are entitled by virtue of the application of resolutions 31480 and 31661 issued by the Ministry of Mines and Energy. Frontera Energy Group owed COP$ 9,663 in connection therewith. Settlement Agreement: 1. Bicentenario, Cenit and Frontera Settlement Agreement On November 17, 2020, Cenit, Bicentenario and Frontera reached an agreement, for the joint filing of a petition for a binding settlement which, upon completion and approval by the competent Colombian court, will resolve all the disputes pending among them, related to the Caño Limón – Coveñas pipeline, and will terminate all the pending arbitration proceedings related to such disputes. This transaction eliminates any uncertainty related to the potential outcomes of the disputes, thus protecting the interests of all the parties and those of their stakeholders and create new business opportunities for the parties involved. The settlement arrangement includes a full and final mutual release upon closing of all present and future amounts claimed by all parties in respect of the terminated transportation contracts for the Bicentenario and Caño Limón – Coveñas pipelines. Frontera will also enter into new transportation contracts with Cenit and Bicentenario. Frontera will transfer to Cenit its 43.03% stake in Bicentenario´s shareholdings. The new ship or pay commitment is projected to be approximately 3,900 bbls/day, based on the current oil price, for a term of five years subject to adjustments, at a current fee of COP$11.5/bbl. Frontera will not have to make payments for oil it may have to ship through alternate pipelines. These contracts will allow Cenit and Bicentenario to obtain payment of certain amounts included in the settlement, during the term of the contracts. The arrangement is conditional upon certain regulatory approvals, including approval of the settlement arrangement as a conciliation under Colombian law, which requires an opinion from the Attorney General’s Office (Procuraduría General de la Nación) which was issued on March 24, 2021 and approval of the Administrative Tribunal of Cundinamarca. As of the date of this report the final approval by the Administrative Tribunal of Cundinamarca is pending until September 30, 2021. 2. Bicentenario, Cenit and Canacol Settlement Agreement: On October 30, 2020 Cenit and Canacol reached an agreement to settle all their disputes. The settlement arrangement includes a full and final mutual release upon closing of all present and future amounts claimed by all parties in respect of the terminated transportation contracts for the Caño Limón – Coveñas pipelines. On November 18, 2020, the competent arbitration tribunal approved the conciliation agreement entered into by Cenit and Canacol, according to which Canacol was obliged to transfer all its outstanding shares in Bicentenario to Cenit. Additionally, as part of the settlement, Canacol entered into new transportation contracts with Cenit. These contracts will allow Cenit to obtain payment of certain amounts included in the settlement, during the term of the contracts. On March 8, 2021 Bicentenario and Canacol reached an agreement to settle all their disputes. The agreement established a formula that seeks to end all contractual obligation disputes between the parties and settle all the outstanding obligations between the companies. Approval of the conciliation between Bicentenario and Canacol is issued, and the arbitration proceedings related to this dispute are finished. 3. Bicentenario, Cenit and Vetra Settlement Agreement: On November 23, 2020, Cenit and Vetra reached an agreement to settle all their disputes. The settlement arrangement includes a full and final mutual release upon closing of all present and future amounts claimed by all parties in respect of the terminated transportation contracts for Caño Limón – Coveñas pipelines. On February 18, 2021, the competent arbitration tribunal approved the conciliation agreement entered into by Cenit and Vetra, according to which Vetra is obliged to transfer all its outstanding shares in Bicentenario to Cenit and to make a cash payment for the remaining balance of the amounts included in the settlement. On January 13, 2021, Bicentenario and Vetra reached an agreement to settle all their disputes. The agreement established a formula that seeks to end all contractual obligations between the parties and settle all the outstanding obligations between the companies. Approval of the conciliation between Bicentenario and Vetra is issued, and the arbitration proceedings related to this dispute are finished. Refinería de Cartagena S.A.S. 1. Court of arbitration On March 8, 2016, Reficar filed a request for arbitration with the International Chamber of Commerce (the “ICC”) against Chicago Bridge & Iron Company NV, CB&I (UK) Limited and CBI Colombiana SA (jointly, “CB&I”), concerning a dispute related to the Engineering, Procurement, and Construction Agreements entered into by and between Reficar and CB&I for the expansion of the Cartagena Refinery in Cartagena, Colombia. Reficar is the Claimant in the ICC arbitration and seeks no less than USD$2 billion. On May 25, 2016, CB&I filed its answer to the Request for Arbitration and the preliminary version of its counterclaim against Reficar, for approximately USD$213 million. On June 27, 2016, Reficar filed its reply to CB&I’s counterclaim denying and disputing the declarations and relief requested by CB&I. On April 28, 2017, Reficar filed its non-detailed claim and, on the same date, CB&I submitted its Statement of Counterclaim increasing its claims to approximately USD$116 million and COP$387,558 million, including USD$70 million for a letter of credit compliance. On March 16, 2018, CB&I submitted its Exhaustive Statement of Counterclaim further increasing its claims to approximately USD$129 million and COP$432,303 million (including in each case interest), and also filed its Exhaustive Statement of Defense to Reficar’s claims. On this same date, Reficar filed its Exhaustive Statement of Claim seeking, among others, USD$ 139 million for provisionally paid invoices under the Memorandum of Agreement (“MOA”) and Project Invoicing Procedure (“PIP”) Agreements and the EPC Contract. On June 28, 2019, Chicago Bridge and Iron Company (CB&I) submitted its reply to the Non-Exhaustive Statement of Defense to Counterclaim increasing its claims to approximately USD$137 million and COP$503,241 million, including interests. Likewise, CB&I presented its detailed defense to Reficar's claim. Reficar filed its reply to CB&I’s Non-Exhaustive Statement of Defense and its Exhaustive Statement of Defense to CB&I’s counterclaim, updating its claim for provisionally paid invoices under the MOA and PIP Agreements and the EPC Contract to approximately USD$ 137 million. Possibly related to this matter, as of December 31, 2020 there is a balance of approximately USD$122 million, in invoices paid by Reficar to CB&I, under the PIP and MOA Agreements of the EPC contract, whose supports provided to date by CB&I do not show acceptance by AMEC Foster Wheeler - PCIB. In January 2020, McDermott International Inc. – CB&I parent company – commenced a bankruptcy case under title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas. Faced with this situation, Refinería de Cartagena has taken actions to protect its interests and has a group of experts with whom it will continue to evaluate other measures it may adopt in this new circumstance. Because of the initiation of the reorganization process, the arbitration was suspended until July 1, 2020, as described below. On January 21, 2020, Comet II BV, the successor in interest to Chicago Bridge & Iron Company NV, commenced bankruptcy case under title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas. Before the beginning of the insolvency process of Comet II BV, an automatic suspension of the initiation or continuation of any action, process or execution of judgment or award against Comet II BV became effective, which suspended the arbitration. On January 23, 2020, Comet II B.V. obtained an order from the Bankruptcy Court permitting it to, in its discretion, modify the automatic stay to permit it to proceed with litigation or other contested matters. On March 14, 2020, the Bankruptcy Court entered an order confirming a plan of reorganization, and the order provides for the stay against the arbitration to end upon the earlier of the effective date of the plan or August 30, 2020.- whichever would occur first. On June 30, 2020, McDermott International Inc. notified the occurrence of the effective date of the reorganization plan, for which the suspension of arbitration was lifted on July 1, 2020. On May 6, 2020, the Superintendence of Companies ordered the judicial liquidation of CBI Colombiana SA, one of the defendants in the CB&I arbitration. On October 22, 2020, Reficar requested its recognition as a creditor of CBI Colombiana SA, up to the maximum amount of its claims in the arbitration. On January 15, 2021, the liquidator of CBI Colombiana SA accepted Reficar’s request. On September 22, 2020, the tribunal scheduled the start of the hearings for May 2021. The outcome of the arbitration remains uncertain until such time as the arbitration ruling is issued. 2. Investigations of control entities Prosecutor’s Office : To date, 3 legal proceedings are being carried out arising from the events related to the expansion and modernization project of the Refinería de Cartagena (the “project”). Proceeding 1 – No. 110016000101201600023 - MOA - PIP y EPC This process is being carried out against some prior members of the Refinería de Cartagena Board of Directors, Refinería de Cartagena ex workers, Chicago Bridge and Iron Company (CB&I) workers and the Reficar Statutory Auditor between 2013 and 2015; for the crimes of undue interest in the conclusion of contracts, misappropriation in favor of third parties, illicit enrichment of individuals in favor of third parties and ideological falsehood in public document. On May 31, 2018, the Accusation Formulation Hearing was installed; however, on this date the jurisdiction of the judge in the case was challenged. For this reason, it was only possible to start it on November 29, 2018. On August 22, 2019, the accusation hearing ended and Refinería de Cartagena and Ecopetrol S.A. were officially recognized as victims. On November 25, 2019, the preparatory hearing for the trial was installed. On November 4, 2020 a hearing was arranged in which the judge of the case manifested his impediment that was resolved by the Superior Court of Bogotá, by means of an order of December 16, February 2021, declaring it unsupported and maintaining jurisdiction in the same court. To date, the process is in place to develop the hearing. Proceeding 2 - No. 110016000101201800132 Business line This process is carried out for the crimes of aggravated unfair administration and obtaining a false public document, against previous members of the Board of Directors of Refinería de Cartagena and an ex-president of this company. On August 5, 2019, the accusation formulation hearing was installed and finished and Refinería de Cartagena and Ecopetrol S.A. were officially recognized as victims. On November 18, 2019, the preparatory trial hearing was installed and it is currently being developed. Proceeding 3 – No. 110016000101201800134 – Subscription of contract PMC - Foster Wheeler This process is carried out for the crime of entering into a contract without legal requirements, against two ex-workers of the Refinería de Cartagena, who acted as ex-president in property and ex-president in charge, for the period for which the accusation is made. On January 27, 2020, the accusation hearing was installed and finished, and Refinería de Cartagena and Ecopetrol S.A. were officially recognized as victims. On March 11, 2020, the preparatory hearing for the trial was installed and it is currently being developed. Office of the Comptroller General (Contraloría General de la República – CGR): Financial Audit for the 2019 period The CGR carried out a financial audit of the Cartagena Refinery between January 28, 2020 and May 20, 2020. In the Final Audit Report, 3 findings of an administrative nature are established, and it is indicated (i) that the budget execution is reasonable, since the budget was prepared and executed in accordance with the applicable regulations, (ii) that the internal financial control was efficient, since it is adequate and effective controls against the risks that are inherent to the different processes, procedures and activities carried out during the 2019 period, (iii) that the accounting opinion is negative, since the CGR considered that the Financial Statements "do not present reasonably in all important respects, the financial situation as of December 31, 2019". Financial Audit for the 2020 period The CGR carried out a financial audit of the Cartagena Refinery between February 1 and May 27, 2021. In the Final Audit report, 3 findings of an administrative nature are established, and it is indicated: (i) that the budget execution is reasonable, since the budget was planned, programmed and executed in accordance with the applicable regulations, (ii) that the Internal financial control was efficient, because it is adequate and effective controls against the risks that are inherent to the different processes, procedures and activities carried out during the 2020 period, (iii) that the accounting opinion is negative, since the CGR considered that the RUs "do not reasonably present, in all material respects, the financial situation as of December 31, 2020." Considering the above, the CGR did not terminate the fiscal account for the 2020 term. Fiscal responsibility processes Through Order No. 773 of June 5, 2018, the Office of the Comptroller General issued an order to file and impute fiscal responsibility within the process # PRF-2017-00309_UCC-PRF-005-2017 and impute responsibility to: i. ii. iii. iv. v. Additionally, in the order it was required to form an independent process in relation to the event that generates the late entry into operation of the refinery, which gives rise to a loss of profit; that is, the net profit not received by Reficar. On April 26, 2021, the CGR issued a first instance ruling with fiscal responsibility for changes 2 and 3 that were made to the expansion and modernization project of the Refinería de Cartagena for a value of COP$2.9 thousands of millions in solidarity and as a gross fault against: i. ii. iii. iv. On June 3, 2021, the CGR decided on the appeals for reconsideration and resolved, among other matters: (a) not to reconsider and confirm the first instance ruling for one of the parties, (b) partially reinstate the first instance decision to the insurance companies, (c) partially correct the ruling, and (d) grant the appeals filed. On July 6, 2021, the CGR's Fiscal and Sanction Chamber decided the degree of consultation and the appeals filed by the parties and resolved, among other matters: (a) to deny the appeals, and (b) to confirm the order that resolved appeal for reconsideration. Refinería de Cartagena and Ecopetrol S.A. are not part of these processes. As of the date of this report, the financial statements continue to adequately disclose the Group's financial and operational situation in all material aspects and its internal controls remain in force and therefore the ruling does not generate any impact on the companies.

Equity

Equity	6 Months Ended
	Jun. 30, 2021
Equity
Equity	21. Equity 21.1 Ecopetrol’s authorized capital is COP$36,540,000, and is divided in 60,000,000,000 ordinary shares, of which 41,116,694,690 have been subscribed, represented by 11.51% (4,731,906,273 shares) of non-government entities and people, and 88.49% (36,384,788,417 shares) held by Government entities. The value of the reserve shares amounts to COP$11,499,933 comprised by 18,883,305,310 shares. As of June 30, 2021, and December 31, 2020, subscribed and paid–in capital is COP$25,040,067. There is no potential dilution of shares. 21.2 It mainly corresponds to: (i) surplus with respect to its nominal value derived from the sale of shares upon capitalization in 2007, for COP$4,457,997, (ii) COP$31,377 the value generated by the process of placing the shares on the secondary market, arising from the calling of guarantees from debtors in arrears, according to the provisions of Article 397 of the Code of Commerce, (iii) surplus over nominal value arising from the sale of shares awarded in the second round, which took place in September 2011, in the amount of COP$2,118,468, and (iv) additional paid–in capital receivable of COP$(143). 21.3 ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Legal reserve 4,737,788 4,568,980 Fiscal and statutory reserves 509,082 509,082 Occasional reserves (1) 5,377,359 4,557,074 Total 10,624,229 9,635,136 ​ (1) Ecopetrol’s General Meeting of Shareholders, held on March 26, 2021, approved the 2020 profit distribution project and recognized a reserve of COP$5,377,359 (2020: COP$4,557,074) in order to support the Company’s financial sustainability and flexibility in development of your strategy. The movement of the equity reserves is the following: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Opening balance 9,635,136 3,784,658 Release of reserves (5,066,156) (540,826) Appropriation of reserves 6,055,249 6,391,304 Closing balance 10,624,229 9,635,136 ​ 21.4 The Group distributes dividends based on Ecopetrol’s separate financial statements prepared under International Financial Reporting Standards accepted in Colombia (NCIF, as its acronym in Spanish). The General Assembly of Shareholders of Ecopetrol S.A. on March 26, 2021, decreed dividends on the profit for 2020, for a value of $698,984. On April 22, 2021, dividends were paid for $696,387 for 100% of the shareholders, and the subsidiaries paid $454,154. As of June 2021, the total of dividends paid is $1,150,541. The General Assembly of Shareholders of Ecopetrol S.A. on March 27, 2020, decreed dividends on the profit for 2019, for $ 7,401,005. As of June 2020, dividends have been paid for $1,751,706 to the shareholders, and the subsidiaries paid $584,854. The total of dividends paid is $2,336,560. 21.5 The following is the composition of the other comprehensive results attributable to the shareholders of the parent company, net of deferred income tax: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Foreign currency translation (1) 14,933,449 11,794,201 Hedges of a net investment in a foreign operation (3,342,405) (1,494,926) Actuarial gain on defined benefit plans (2,618,880) (2,260,989) Cash flow hedges for future exports (356,505) (136,470) Cash flow hedge with derivative instruments (34,030) 44,132 Others 1,699 1,114 ​ 8,583,328 7,947,062 ​ (1) Includes the realization of other comprehensive income for COP$ 361,728 from the sale of the participation in the capital stock of Offshore International Group (OIG).

Revenue from contracts with cus

Revenue from contracts with customers	6 Months Ended
	Jun. 30, 2021
Revenue from contracts with customers
Revenue from contracts with customers	22. Revenue from contracts with customers ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) National sales ​ ​ Mid–distillates (1) 6,693,474 ​ 4,537,459 Gasolines and turbo fuel (1) 6,008,990 ​ 3,021,094 Natural gas 1,470,647 ​ 1,339,952 Services 1,455,204 ​ 1,457,989 Plastic and rubber 719,638 ​ 334,937 L.P.G. and propane 360,361 ​ 159,937 Fuel gas service 346,308 ​ 330,272 Asphalts 279,851 ​ 215,060 Polyethylene 170,346 ​ 60,708 Aromatics 121,718 ​ 74,936 Crude 86,399 ​ 117,457 Fuel oil 17,133 ​ 19,219 Other income - Gas contracts (2) 1,790 ​ 28,572 Other products 218,809 ​ 203,810 Cash flow hedging (3) ​ (8) ​ — ​ 17,950,660 ​ 11,901,402 Foreign sales ​ ​ Crude (3) 14,380,121 ​ 9,612,415 Diesel 2,075,001 ​ 1,243,219 Fuel oil (3) 1,108,341 ​ 422,833 Plastic and rubber 1,010,593 ​ 575,980 L.P.G. and propane 27,802 ​ 6,157 Natural gas 23,828 ​ 7,742 Cash flow hedging (3) (124,428) ​ (715,169) Gasolines y turbo fuels ​ — ​ 153,680 Other products 266,846 ​ 433,654 ​ 18,768,104 ​ 11,740,511 ​ 36,718,764 ​ 23,641,913 ​ (1) Includes (i) the revenue from contracts with customers for COP $9,246,560 (2020: (COP $7,150,686 )) and ii) the value recognized by price differential for COP $3,455,904 (2020: (COP $407,867 )), corresponding to the application of Decree 180522 of March 29, 2010, and other standards that modify and add (Decree 1880 of 2014 and Decree 1068 of 2015), which establishes the procedure to recognize the subsidy for refiners and importers of ordinary motor gasoline and ACPM, and the methodology for calculating the net position (value generated between the parity price and the regulated price, which can be positive or negative). (2) Corresponds to the income on the participation in the profits of gas sales, according to the agreement signed between Ecopetrol and Hocol (considering the assets purchase agreement signed with Chevron to acquire the stake owned by the latter in the Guajira Association as of May 1, 2020), for the extension of the association contract for the exploitation of gas in La Guajira. (3) Includes accumulated as of June 30 the result of hedging for future exports (Note 27.3) for COP $81,095 (2020: COP$ 97,111 ) and operations with derivative financial instruments for COP$ 43,341 (2020: COP $618,058 ).

Cost of sales

Cost of sales	6 Months Ended
	Jun. 30, 2021
Cost of sales
Cost of sales	23. Cost of sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ (Unaudited) Variable costs ​ ​ ​ ​ Depreciation, depletion and amortization 3,169,536 2,953,636 Imported products (1) 6,226,515 4,127,712 Purchases of crude in associations and concessions (2) 3,918,432 1,708,271 Hydrocarbon purchases - ANH (3) 2,460,508 1,284,644 Hydrocarbon transportation services 449,215 436,187 Electric energy 506,011 544,479 Gas royalties in cash 515,160 417,255 Processing materials 402,041 421,551 Purchases of other products and gas 352,677 301,996 Services contracted in association 124,214 127,708 Others (4) (1,955,697) 896,395 ​ 16,168,612 13,219,834 Fixed cost ​ ​ Depreciation and amortization 1,396,027 1,442,247 Labor costs 1,145,398 1,181,037 Maintenance 1,075,034 1,006,407 Contracted services 809,689 776,300 Contracted services in associations 557,410 593,567 Taxes and contributions 396,015 321,320 Materials and operating supplies 246,622 220,215 Hydrocarbon transport services 27,979 120,563 General costs (5) 120,655 28,099 ​ 5,774,829 5,689,755 ​ 21,943,441 18,909,589 ​ (1) The imported products correspond mainly to ACPM and diluent to facilitate the transport of heavy crude oil. (2) The increase in purchases corresponds to 1) new contracts with third parties to support the recovery of refinery loads and 2) the increase in prices associated to the recovery of international indicators. (3) It corresponds to the purchases of crude oil from royalties that Ecopetrol makes to the National Agency of Hydrocarbons (ANH) derived from the national production. (4) Corresponds to: i) result of the process of use and valuation of core inventories, ii) measurement at net realizable value (VNR) and iii) other charges that can be capitalized to projects. The variation corresponds to the recovery of international indicators that affects the valuation and higher volumes. (5) Includes the transfer to operating expenses of the costs related to the Barranca refinery units without production due to the decrease in loading capacity due to the health emergency .

Administrative, operation and p

Administrative, operation and project expenses	6 Months Ended
	Jun. 30, 2021
Administrative, operation and project expenses
Administrative, operation and project expenses	24. Administrative, operation and project expenses ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ 2021 2020 ​ (Unaudited) Administration expenses ​ ​ ​ ​ General expenses 560,614 614,607 Labor expenses (1) 548,535 673,488 Depreciation and amortization 35,610 45,800 Taxes 34,141 38,057 ​ 1,178,900 1,371,952 Operation and project expenses ​ ​ Commissions, fees, freights and services 269,201 344,553 Taxes 220,745 197,011 Labor expenses 151,797 155,503 Exploration expenses 235,402 177,599 Depreciation and amortization 96,472 84,841 Fee for regulatory entities 75,141 51,318 Maintenance 59,045 48,866 Others ​ 53,410 ​ 60,933 ​ 1,161,213 1,120,624 ​ (1) It includes since 2020 the recognition of the new voluntary retirement plan for 12 workers in 2021 and 421 in 2020.

Other operating (expenses) inco

Other operating (expenses) income	6 Months Ended
	Jun. 30, 2021
Other operating (expenses) income
Other operating (expenses) income	25. Other operating (expenses) income ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30 ​ 2021 2020 ​ ​ (Unaudited) Provision expenses ​ (298,798) ​ (45,552) Disposals (28,091) (17,810) Impairment loss of current assets (18,844) (7,304) Gain in acquisition of participation in joint operations (1) — 1,373,112 Effect of control loss on subsidiaries (2) — 65,570 Other income 45,418 43,358 ​ (300,315) 1,411,374 ​ (1) As of June 2020, result in the acquisition of Guajira: Ecopetrol $1,284,372 and Hocol $ 88,740 . (2) Effect of the recognition of the reduction of net assets due to the loss of control due to the opening of the judicial liquidation process of Bioenergy S.A.S. and Bioenergy Zona Franca S.A.S .

Financial result

Financial result	6 Months Ended
	Jun. 30, 2021
Financial result
Financial result	26. Financial result ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30 ​ 2021 2020 ​ ​ (Unaudited) Finance income ​ Results from financial assets 57,706 507,574 Yields and interests 67,855 179,505 (Loss) gain on derivatives valuation ​ (9,931) ​ 87,959 Gain in settlement of derivatives 16,031 - Dividends 27 22 Other financial income 8,921 18,035 ​ 140,609 793,095 Financial expenses ​ ​ Loans and borrowings (1) (1,166,137) (1,138,478) Financial cost of other liabilities (2) (512,836) (573,410) Results from financial assets (48,929) (378,557) ​ (1,727,902) (2,090,445) Foreign exchange loss ​ ​ Foreign exchange (loss) gain ​ (258,101) ​ 32,991 Realized gain of other comprehensive income from the sale of a joint venture (Note 12) ​ 361,728 ​ — ​ ​ 103,627 ​ 32,991 ​ (1,483,666) (1,264,359) ​ (1) For the six month periods ended June 30, 2021, interest capitalized in natural resources and property, plant and equipment totaled $122,651 (2020 – $129,458 ). (2) It includes the financial expense for the updating of the liability for abandonment costs, and the interest, net of post-employment benefits and other long-term employee benefits.

Risk management

Risk management	6 Months Ended
	Jun. 30, 2021
Risk management
Risk management	27. Risk management 27.1 Exchange rate risk The Group operates mainly in Colombia and makes sales in the local and international market, for this reason, it is exposed to exchange rate risk. The impact of fluctuations in exchange rates, especially the peso / U.S exchange rate. As of June 30, 2021, the Colombian peso depreciated 9.2% from a closing rate as of December 31, 2020 of COP$3,432.50 to COP$3,748.50 pesos per U.S. dollar. When the Colombian peso depreciates against the U.S. dollar, exports revenue increase when converted to pesos; likewise, imported goods, and interest on foreign debt denominated in the U.S. dollars become more expensive. The book values of financial assets and liabilities denominated in foreign currency are presented in the following table: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, (USD$ Millions) ​ 2021 ​ 2020 ​ ​ Unaudited ​ ​ Cash and cash equivalents 292 197 Other financial assets 708 1,164 Trade receivables and payables, net 498 203 Loans and borrowings (11,660) (11,814) Other assets and liabilities, net 83 277 Net liability position (10,079) (9,973) ​ Of the total net position, USD$(10,079) million correspond to net liabilities of companies with the Colombian peso functional currency, of which USD$(9,615) correspond to loans used as hedging instruments whose valuation is recognized in other comprehensive income, the valuation for exchange difference of the remaining net liabilities for USD$(464) million affect the profit or loss statement. Likewise, USD$(260) million of the net position correspond to monetary assets and liabilities of Group companies with a functional currency different from the Colombian peso, whose valuation is recognized in the profit or loss statement. 27.2 The following is the effect that a variation of 1% and 5% would have in the exchange rate of Colombian pesos against the U.S. United States dollar, related to the exposure of financial assets and liabilities in foreign currency as of June 30, 2021: ​ ​ ​ ​ ​ ​ Scenario / variation in Effect on income Effect on other the exchange rate ​ before taxes +/– ​ comprehensive income +/– 1 % 17,380 360,431 5 % 86,900 1,802,156 ​ 27.3 In order to express in the financial statements the effect of the natural hedge existing between exports and debt, understanding that the exchange rate risk materializes when exports are made, on September 30, 2015, the Board of Directors designated the sum of USD$5,440 million of Ecopetrol's debt as a hedge instrument for its future income from crude exports, for the period 2015 - 2023, in accordance with IFRS 9 - Financial Instruments. In accordance with Resolution 509 of 2015 of the General Accounting Office of the Nation, this accounting policy for recognition of hedges was adopted by Ecopetrol as of January 1, 2015. The following is the movement of this non-derivative hedging instrument: ​ ​ ​ ​ ​ ​ (USD$ Millions) As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Opening balance 1,300 1,300 Reassignment of hedging instruments 269 1,230 Realized exports (269) (1,230) Closing balance 1,300 1,300 ​ The following is the movement in the other comprehensive income: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Opening balance (136,470) (135,748) Exchange difference (410,800) (201,967) Realized exports (Note 22) 81,095 193,374 Ineffectiveness 14,190 9,779 Deferred tax (Note 10) 95,480 (1,908) Closing balance (356,505) (136,470) ​ The expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Before ​ ​ Year ​ taxes ​ Taxes After taxes 2021 (Jul-Dec) 113,722 (34,301) 79,421 2022 227,445 (68,602) 158,843 2023 169,308 (51,067) 118,241 ​ 510,475 (153,970) 356,505 ​ 27.4 The Board of Directors approved the application of hedge accounting of net investment from June 8, 2016. The measure seeks to reduce the volatility of non-operating income due to the exchange difference. The hedge of a net investment applies to a portion of the investments the Company has in foreign currency, in this case in subsidiaries with the US dollars as their functional currency, using as hedging instrument a portion of the Company’s debt denominated in U.S. dollars. Ecopetrol designated as hedged items its net investments in Oleoducto Central S.A. (Ocensa), Ecopetrol América LLC., Hocol Petroleum Ltd. (HPL) and Refinería de Cartagena S.A.S. (Reficar); and as a hedging instrument a portion of its debt denominated in US dollars in a total amount equivalents to USD$5,200 million. During 2021, the Company made an extension for USD$1,221 million to add a greater amount in Reficar. Additionally, during the month of June 2021, debt principal payments were made for USD$163 million. The total value hedged on June 30, 2021 is USD$8,315 million. The following is the movement in the other comprehensive income: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Opening balance 1,494,926 1,130,583 Exchange difference 2,639,256 520,490 Deferred tax (Note 10) (791,777) (156,147) Closing balance 3,342,405 1,494,926 ​ 27.5 The main objective of Ecopetrol Business Group’s Capital Management is to ensure a financial structure that will optimize the Company’s cost of capital, maximize the returns to its shareholders and allow access to financial markets at a competitive cost to cover is financing needs. The following is the leverage index over the periods reported: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ (Unaudited) ​ ​ ​ Loans and borrowings (Note 17) 50,060,470 46,731,754 ​ Cash and cash equivalents (Note 6) (5,021,544) (5,082,308) ​ Other financial assets (Note 9) (1,398,708) (3,071,659) ​ Net financial debt 43,640,218 38,577,787 ​ Equity (Note 21) 59,991,045 53,499,363 ​ Leverage (1) 42.11 % 41.90 % ​ (1) Net financial debt / (Net financial debt + Equity)

Related parties

Related parties	6 Months Ended
	Jun. 30, 2021
Related parties
Related parties	28. Related parties The balances with associated companies and joint ventures as of June 30, 2021 and December 31, 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ Other ​ Accounts ​ Loans ​ Other ​ receivable assets payable payable liabilities Joint ventures Equion Energía Limited (1) 1,134 2,469 18,756 1,393,160 310 Ecodiesel Colombia S.A. 9,411 — 33,039 — 1 Associates ​ ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. 8,056 — 4,355 — — Extrucol S.A. ​ 2,145 ​ — ​ 329 ​ — ​ — E2 Energía Eficiente S.A. E.S.P. ​ 7,586 ​ — ​ 389 ​ — ​ — Balance as of June 30, 2021 (Unaudited) ​ 28,332 ​ 2,469 ​ 56,868 ​ 1,393,160 ​ 311 Current 28,332 2,469 56,868 1,393,160 311 ​ 28,332 2,469 56,868 1,393,160 311 ​ (Note 7) (Note 11) (Note 18) (Note 17) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ Loans ​ Other ​ Accounts ​ Loans ​ Other ​ receivable receivable assets payable payable liabilities Joint ventures Equion Energía Limited(1) 1,950 — 7,093 32,335 1,277,046 1,663 Ecodiesel Colombia S.A. 1,345 — — 35,632 — 1 Offshore International Group Inc (2) — 97,300 — — — — Associates ​ ​ ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. — — — 1,858 — — Extrucol S.A. ​ — ​ — ​ — ​ 279 ​ — ​ — E2 Energía Eficiente S.A. E.S.P. ​ 4,453 ​ — ​ — ​ 1,264 ​ — ​ — Serviport S.A. — — — 948 — — Balance as of December 31, 2020 7,748 97,300 7,093 72,316 1,277,046 1,664 Current 7,748 97,300 7,093 72,316 1,277,046 1,664 ​ 7,748 97,300 7,093 72,316 1,277,046 1,664 ​ (Note 7) (Note 7) (Note 11) (Note 18) (Note 17) ​ Loans payable: (1) Deposits held by Equion in Ecopetrol Capital AG. Loans receivable: (2) Savia Perú S.A. Loan granted by Ecopetrol S.A. This company is no longer part of the Business Group. See Note 12. The main transactions with related parties for the six-month period ended June 30, are detailed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ ​ ​ ​ Purchases of ​ ​ ​ Purchases of ​ ​ Sales and ​ product and ​ Sales and ​ product and ​ Services other Services other ​ ​ ( Unaudited) ​ ( Unaudited) Joint ventures ​ ​ ​ ​ ​ ​ Equion Energía Limited 15,267 39,631 17,512 227,793 Ecodiesel Colombia S.A. 15,659 192,844 4,065 125,376 Offshore International Group Inc — — 23 — ​ ​ 30,926 ​ 232,475 ​ 21,600 ​ 353,169 Associates ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. — 12,511 — 14,048 Extrucol S.A. ​ — ​ 921 ​ — ​ 128 E2 Energía Eficiente S.A. E.S.P. ​ 26,760 ​ 4,266 ​ — ​ 780 ​ ​ 26,760 ​ 17,698 ​ — ​ 14,956 ​ 57,686 250,173 21,600 368,125 ​

Segments information

Segments information	6 Months Ended
	Jun. 30, 2021
Segments information
Segments information	29. Segments information The description of the business segments can be seen in Note 4.19 of the consolidated financial statements as of December 31, 2020. The following segment information is reported based on the information used by the Board of Directors, as the top party responsible for strategic and operational decisions of these business segments. The performance of the segments is based primarily on an analysis of income, costs, expenses and results for the period generated by each segment, which are regularly monitored. The information disclosed in each segment is presented net of transactions among the Ecopetrol Business Group. 29.1 The following presents the consolidated statement of profit and loss by segment for the periods of six months ended June 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended June 30, 2021 (unaudited) ​ ​ Exploration and ​ Refining and ​ Transportation ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total Third party sales 16,169,774 19,217,323 1,243,946 87,721 36,718,764 Inter–segment sales 11,679,399 1,928,371 4,382,986 (17,990,756) — Revenue 27,849,173 21,145,694 5,626,932 (17,903,035) 36,718,764 Costs of sales (18,215,979) (19,989,429) (1,516,843) 17,778,810 (21,943,441) Gross profit 9,633,194 1,156,265 4,110,089 (124,225) 14,775,323 Administration expenses (753,773) (323,607) (201,972) 100,452 (1,178,900) Operation and projects expenses (581,649) (459,873) (157,506) 37,815 (1,161,213) Impairment recovery of non–current assets — 2,655 791 — 3,446 Other operating (expenses) income, net (311,212) (7,578) 18,499 (24) (300,315) Operating income 7,986,560 367,862 3,769,901 14,018 12,138,341 Financial result, net ​ ​ ​ ​ ​ Financial income 254,512 10,660 19,060 (143,623) 140,609 Financial expenses (1,170,565) (560,755) (126,177) 129,595 (1,727,902) Foreign exchange (loss) gain, net (69,419) (44,356) 217,402 — 103,627 ​ (985,472) (594,451) 110,285 (14,028) (1,483,666) Share of profit of associates and joint ventures 13,337 101,899 — — 115,236 Income before tax 7,014,425 (124,690) 3,880,186 (10) 10,769,911 Income tax (2,491,766) 27,734 (1,177,327) — (3,641,359) Net profit (loss) for the period 4,522,659 (96,956) 2,702,859 (10) 7,128,552 Net profit (loss) attributable to: ​ ​ ​ ​ ​ Group owners of parent 4,569,564 (184,163) 2,161,547 (10) 6,546,938 Non–controlling interest (46,905) 87,207 541,312 — 581,614 ​ 4,522,659 (96,956) 2,702,859 (10) 7,128,552 Supplementary information ​ ​ ​ ​ ​ Depreciation, depletion and amortization ​ 3,309,558 ​ 790,252 ​ 597,835 ​ — ​ 4,697,645 Impairment of non–current assets — 2,655 791 — 3,446 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended June 30, 2020 (unaudited) ​ ​ Exploration and ​ Refining and ​ Transportation ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total Third party sales ​ 16,634,009 ​ 12,394,018 ​ 6,146,779 ​ (11,532,893) ​ 23,641,913 Revenue 16,634,009 12,394,018 6,146,779 (11,532,893) 23,641,913 Costs of sales (16,082,559) (12,507,567) (1,684,163) 11,364,700 (18,909,589) Gross profit 551,450 (113,549) 4,462,616 (168,193) 4,732,324 Administration expenses (881,656) (419,430) (199,171) 128,305 (1,371,952) Operation and projects expenses (552,999) (429,976) (177,266) 39,617 (1,120,624) Impairment recovery (loss) of non-current assets (518,173) (688,914) 2,808 — (1,204,279) Other operating income, net 1,331,660 62,019 17,700 (5) 1,411,374 Operating income (69,718) (1,589,850) 4,106,687 (276) 2,446,843 Financial result, net Financial income 799,806 68,305 75,669 (150,685) 793,095 Financial expenses (1,375,333) (604,489) (261,584) 150,961 (2,090,445) Foreign exchange (loss) gain, net 53,591 (645,442) 624,842 — 32,991 ​ (521,936) (1,181,626) 438,927 276 (1,264,359) Share of profit of associates and joint ventures (28,308) 92,641 (2,368) — 61,965 Income before tax (619,962) (2,678,835) 4,543,246 — 1,244,449 Income tax (298,605) 784,339 (1,394,685) — (908,951) Net profit (loss) for the period (918,567) (1,894,496) 3,148,561 — 335,498 Net profit (loss) attributable to: Group owners of parent (847,504) (1,958,370) 2,547,158 — (258,716) Non-controlling interest (71,063) 63,874 601,403 — 594,214 ​ (918,567) (1,894,496) 3,148,561 — 335,498 Supplementary information Depreciation, depletion and amortization 3,065,448 812,470 648,606 — 4,526,524 Impairment of non-current assets (518,173) (688,914) 2,808 — (1,204,279) ​ 29.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales by product - Segments ​ ​ Six-month period ended June 30, 2021 (unaudited) ​ ​ Exploration and ​ Refining and ​ Transportation ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total National sales Mid–distillates — 6,705,637 — (12,163) 6,693,474 Gasolines and turbo fuels — 7,055,926 — (1,046,936) 6,008,990 Natural gas 1,918,512 — — (447,865) 1,470,647 Services ​ 52,504 ​ 91,731 ​ 5,626,932 ​ (4,315,963) ​ 1,455,204 Fuel gas service ​ — ​ 349,955 ​ — ​ (3,647) ​ 346,308 Plastic and rubber — 719,638 — — 719,638 Asphalts 9,692 270,159 — — 279,851 L.P.G. and propane 234,966 133,843 — (8,448) 360,361 Crude 11,302,960 — — (11,216,561) 86,399 Polyethylene — 170,346 — — 170,346 Aromatics — 121,718 — — 121,718 Fuel oil 7,728 9,405 — — 17,133 Other income - Gas contracts 1,790 — — — 1,790 Other products 7,839 1,062,422 — (851,452) 218,809 Cash flow hedging — (8) — — (8) ​ 13,535,991 16,690,772 5,626,932 (17,903,035) 17,950,660 Foreign sales ​ ​ ​ ​ ​ Crude 14,380,121 — — — 14,380,121 Diesel — 2,075,001 — — 2,075,001 Plastic and rubber — 1,010,593 — — 1,010,593 Fuel oil — 1,108,341 — — 1,108,341 Natural gas 23,828 — — — 23,828 L.P.G. and propane 27,802 — — — 27,802 Cash flow hedging (124,436) 7 — — (124,429) Other products 5,867 260,980 — — 266,847 ​ 14,313,182 4,454,922 — — 18,768,104 ​ 27,849,173 21,145,694 5,626,932 (17,903,035) 36,718,764 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales by product - Segments ​ ​ Six-month period ended June 30, 2020 (unaudited) ​ ​ Exploration and ​ Refining and ​ Transportation ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total National sales Mid-distillates — 4,544,532 — (7,073) 4,537,459 Gasolines and turbo fuels — 3,534,581 — (513,487) 3,021,094 Natural gas 1,720,897 — — (380,945) 1,339,952 Services 76,695 172,050 6,146,742 (4,937,498) 1,457,989 Fuel gas service — 330,272 — — 330,272 Plastic and rubber — 334,937 — — 334,937 Asphalts 10,498 204,562 — — 215,060 L.P.G. and propane 108,967 53,202 — (2,232) 159,937 Crude 5,649,371 — — (5,531,914) 117,457 Polyethylene — 60,708 — — 60,708 Aromatics — 74,936 — — 74,936 Fuel oil 1,784 17,435 — — 19,219 Other income – Gas contracts 28,572 — — — 28,572 Other products 11,044 273,153 — (80,387) 203,810 ​ 7,607,828 9,600,368 6,146,742 (11,453,536) 11,901,402 Foreign sales Crude 9,691,731 29 — (79,345) 9,612,415 Diesel — 1,243,219 — — 1,243,219 Plastic and rubber — 575,980 — — 575,980 Gasolines and turbo fuels — 153,680 — — 153,680 Fuel oil — 422,833 — — 422,833 Natural gas 7,742 — — — 7,742 L.P.G. and propane 6,157 — — — 6,157 Cash flow hedging (696,577) (18,592) — — (715,169) Other products 17,128 416,501 37 (12) 433,654 ​ 9,026,181 2,793,650 37 (79,357) 11,740,511 ​ 16,634,009 12,394,018 6,146,779 (11,532,893) 23,641,913 ​

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2021
Subsequent events
Subsequent events	30. Subsequent events Acquisition of Interconexión Eléctrica S.A. and financing sources - On June 23, 2021, Ecopetrol reported that the term of the Exclusivity Agreement that it signed with the Ministry of Finance and Public Credit, on February 12, and through which the process of Negotiation and due diligence activities for the potential acquisition of the outstanding shares held by the Ministry of Finance and Public Credit in Interconexión Eléctrica SA (“ISA”), equivalent to 51.4%, has been extended until August 31, 2021. Additionally, the Company has notified the Ministry of Finance and Public Credit of its decision not to condition the closing of the acquisition of ISA to the execution of a share issue. This decision is due to the favorable evolution of the financial situation of the Ecopetrol Group, which provides the flexibility to comply with the closing of the transaction through a loan with international banks, within the leverage parameters established in the business plan. The disbursement of said credit would be subject to the closing of the transaction. - Through Resolution 1484 of June 29, 2021, the Ministry of Finance and Public Credit authorized the management of the issuance and placement of bonds in the international capital market up to an amount of USD$1.4 billion, to finance opportunities organic growth and the ordinary course of their business. This resolution does not in itself constitute an authorization for the issuance of securities or a financing operation, therefore Ecopetrol must carry out all the necessary approval procedures before its Board of Directors and the Ministry of Finance and Public Credit to carry out eventual debt operations charged to this authorization. - On July 30, 2021, Ecopetrol reported that through Resolution 1824 of that same date, the Ministry of Finance and Public Credit authorized the contracting of a contingent credit line (“Committed Credit Line”) up to an amount of USD$1.2 billion. It will have 2 years of availability for disbursements, counted from the signing, with the following conditions: capital amortizable at maturity within a period of 3 years from the date of signing the contract and an interest rate of Libor ( 6M ) + 125 basis points. - The Board of Directors of Ecopetrol, in a session on Friday, July 30, 2021, authorized the Company's Legal Representative to present a binding offer to the Ministry of Finance and Public Credit to acquire 51.4% of the outstanding shares of Interconexión Eléctrica S.A. E.S.P - ISA. Said offer was presented that same day within the terms approved by the Board of Directors. - On August 11, 2021, Ecopetrol signed the Inter-administrative Share Purchase Agreement with the Ministry of Finance and Public Credit (“MHCP”) (by its acronym in Spanish), through which the Company acquires 569,472,561 shares of Interconexión Eléctrica S.A. ESP (“ISA”), equivalent to 51.4% of the outstanding shares of this company, which represent 100% ownership of the MHCP in said company. - On August 13, 2021, the Ministry of Finance and Public Credit (“MHCP”) authorized Ecopetrol S.A. to enter into an external credit loan with international banks for up to four billion dollars (USD$ 4,000 million), whose exclusive purpose will be to finance the acquisition of 569,472,561 shares of Interconexión Eléctrica S.A. ESP (“ISA”) equivalent to 51.4% of its outstanding shares, which represents 100% of the stake that MHCP has in ISA. The lenders under the credit facility are Banco Santander, S.A., Citibank, N.A., JPMorgan Chase Bank, N.A. and The Bank of Nova Scotia, each with a 25% participation. - On August 20, 2021, the closing conditions of the Inter-Administrative Contract were satisfactorily met, the closing of the transaction took place with: i) the payment by Ecopetrol to the MHCP of the agreed price of COP$14,236,814 for all the shares, at COP 25,000 per share. Said payment was made in its equivalent in dollars of the United States of America for an amount of USD$3,673 million, using the representative market rate in force on the closing date of the transaction of COP$3,876.08/dollar; and ii) with the transfer of the shares to Ecopetrol S.A. as its new owner, and the respective entry in the ISA shareholders' book by the “Depósito Centralizado de Valores de Colombia S.A.”. - According to the transaction, Ecopetrol will measure the assets acquired and the liabilities assumed in proportion to its participation in accordance with the definitions of IFRS 3 - Business Combinations.In the financial statements as of September 30, 2021, Ecopetrol will have more information of the transaction to disclose according to the fair value measurement process. Legal aspects generated from the Acquisition of Interconexión Eléctrica S.A. - On July 21, 2021, Ecopetrol was named as defendant within a public action (acción popular). The acción popular was filed with the First Section of the Administrative Tribunal of Cundinamarca by Fundación Defensa de la Información Legal y Oportunidad – Dilo Colombia (“Fundación Dilo”). The complaint sought, among other things, to prevent the MHCP from selling its ownership stake in ISA to Ecopetrol unless a competitive bid was undertaken. Accordingly, Fundación Dilo as plaintiff requested preliminary injunctive relief to suspend all actions aimed to close the Acquisition. - On July 28, 2021, Ecopetrol filed a statement in opposition to such request for preliminary injunctive relief and, on August 6, 2021, formally filed its response to the public action. In its response, Ecopetrol opposed the injunctive relief and the action popular on the grounds that the claim has no legal basis. In addition, Ecopetrol presented the technical, financial, and legal arguments that show that Fundación Dilo did not comply with the legal requirements for said preliminary injunctive relief measure to be granted. Ecopetrol argued that the potential sale of the Nation’s ownership in ISA does not contravene the Colombian legal regime. Furthermore, the consummation of the Acquisition is expected to generate benefits to both the Nation and Ecopetrol and does not threaten or contravene any of the collective rights invoked by the claimant. The MHCP also filed a similar response. - On September 14, 2021, the Colombian Judicial Branch issue two orders which have not been yet notified: 1) Denying the cautionary measure requested by the popular action and 2) setting date for the hearing agreement. - Because the ISA Acquisition was consummated on August 20, 2021, Ecopetrol does not expect the court to issue any injunction in connection with the public action. ​ Financing activities Since June 30, 2021, Ecopetrol entered into the following financing agreements: - On August 17, 2021, the Company entered into the Acquisition Loan. The Acquisition Loan (i) is payable at maturity on August 18, 2023 and (ii) bears an interest rate of 3-month LIBOR + 80 basis points. On August 20, 2021, US$3,672,000,000 was disbursed under that Acquisition Loan in connection with the closing of the Acquisition of ISA. - On August 17, 2021, the Company also entered into a committed credit line for up to US$1,200,000,000 to finance general corporate purposes in the ordinary course of business, including the strengthening of our liquidity position in case of eventual organic growth opportunities, risk mitigation in connection with unexpected fluctuations in oil prices, and reduction of specific upcoming refinancing needs at flexible and competitive borrowing costs. Ecopetrol Singapore Pte Ltd. - On July 1, 2021, Ecopetrol notified the constitution process conclude of Ecopetrol Singapore Pte Ltd., a company in which it will directly own 100% of its share capital. In turn, the aforementioned company will own 100% of the share capital of Ecopetrol Trading Asia Pte Ltd., whose main purpose will be the international commercialization of crude and refined products of the Ecopetrol Group and of third parties in Asia. Both companies will be domiciled in Singapore. ​ Approval for Ecopetrol issuance of shares - The Board of Directors of Ecopetrol S.A,, on August 27, 2021, approved the Issuance and Placement Regulations of the third round of the Program for the Issuance and Placement of ordinary shares, provided for in Law 1118 of 2006. Both the Regulations and other documentation required by law, will be submitted to be considered by the Superintendencia Financiera de Colombia with the purpose that said entity gives its authorization on the Program. In accordance with the potential issuance or issuances carried out under the Program, the Nation will maintain at least 80% of the subscribed and outstanding capital of Ecopetrol, as defined by Law 1118 of 2006. The Program includes a term of 5 years, within which Ecopetrol could carry out one or more share issues for the specific purpose of finance the execution of its corporate strategy and its energy transition plan, including: (i) projects for organic growth, (ii) opportunities for inorganic growth and (iii) the strengthening of Ecopetrol's financial position and/or the reduction of its liabilities. The approvals given by the Board of Directors of Ecopetrol and by the Superintendencia Financiera de Colombia, related to the Program, will provide to the Company the option of capital management to development the energy transition strategy, and it cannot generate any commitments or obligations to offer shares. The issues within the framework of the Program will be subject to the existence of favorable market conditions for the placement. Credit rating update - On August 31, 2021, Moody’s Investors Service re-affirmed rating at Baa3 for Ecopetrol S.A. but changed the outlook from stable to negative. On October 6, 2021, Moody’s Investors Service affirmed Colombia’s Baa2 sovereign rating and changed its outlook to stable from negative. Tax Reform in Colombia - On September 7, 2021, Congress approved a new tax bill, which was sanctioned on September 14 and contains several modifications to the tax reform proposal that was withdrawn in May 2021, including mainly considerations of electronic billing process, complements for tax normalization in Colombia, incentives for economic reactivation and certain increases to current applicable income tax rates, which increases will become effective as of January 1, 2022. The effect in deferred tax is not material. Investigations of control entities related to Refinería de Cartagena - On September 16, 2021, through a press release issued by the Office of Contraloría General de la República, Ecopetrol became aware that on August 26, 2021, the Ordinary Process of Fiscal Responsibility PRF-80011-2018-33300 was opened, claiming alleged damages of COP$942,795 consisting of: US$21 million in unidentified expenses related to the expansion and modernization project of Refinería de Cartagena and the remaining amount in financing funds not reflected in executed expenses. Upon obtaining knowledge of the abovementioned press release, the Refinería de Cartagena sent a communication to the control entity verifying the executed and planned expenses and requesting clarification as to what the control entity refers to as unidentified expenses to prepare the corresponding explanations. - The persons accused of alleged abuse of fiscal responsibility are the Chief Executive Officers as well as the Chief Financial Officers of the Refinería de Cartagena from 2014 to 2019, among whom is the current Chief Financial Officer of Ecopetrol. Except as noted above, the information related to the Process is reserved.

Exhibit 1 - Unaudited financial

Exhibit 1 - Unaudited financial information related to consolidated companies, associates and joint ventures	6 Months Ended
	Jun. 30, 2021
Exhibit 1 - Unaudited financial information related to consolidated companies, associates and joint ventures
Exhibit 1 - Unaudited financial information related to consolidated companies, associates and joint ventures	Exhibit 1 – Unaudited financial information related to consolidated companies, associates and joint ventures ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) for ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ the period ​ Assets ​ Liabilities Subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Refinería de Cartagena S.A.S. U.S. Dollar 100 % Hydrocarbons refining, marketing and distribution Colombia Colombia 17,399,704 (622,240) 30,655,028 13,255,324 Cenit transporte y logística de hidrocarburos S.A.S. Colombian peso 100 % Storage and transportation through hydrocarbon pipelines Colombia Colombia 13,521,453 2,205,851 16,193,169 2,671,716 Ecopetrol Global Energy S.L.U. ​ U.S. Dollar ​ 100 % Investment vehicle ​ Spain ​ Spain ​ 11,115,882 ​ (8,661) ​ 11,115,927 ​ 45 ​ Oleoducto Central S. A. - Ocensa ​ U.S. Dollar ​ 72.65 % Pipeline transportation of crude oil ​ Colombia ​ Colombia ​ 3,239,646 ​ 1,140,462 ​ 6,530,528 ​ 3,290,882 ​ Hocol Petroleum Limited. ​ U.S. Dollar ​ 100 % Investment vehicle ​ Bermuda ​ Bermuda ​ 3,708,980 ​ 237,226 ​ 3,709,136 ​ 156 ​ Ecopetrol América LLC. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 2,641,647 104,270 3,075,155 433,508 Hocol S.A. U.S. Dollar 100 % Hydrocarbons exploration and exploitation Cayman Islands Colombia 2,885,017 238,196 4,349,170 1,464,153 Esenttia S.A. U.S. Dollar 100 % Production and commercialization of polypropylene resin Colombia Colombia 2,084,196 159,923 2,905,531 821,335 Ecopetrol Capital AG U.S. Dollar 100 % Collection of surpluses from, and providing funds to, companies of the Ecopetrol Business Group Switzerland Switzerland 2,153,211 105,098 8,311,108 6,157,897 Oleoducto Bicentenario de Colombia S.A.S. Colombian peso 55.97 % Pipeline transportation of crude oil Colombia Colombia 1,756,440 140,561 3,625,177 1,868,737 Oleoducto de Colombia S. A. – ODC Colombian peso 73 % Pipeline transportation of crude oil Colombia Colombia 431,796 187,200 585,068 153,272 Black Gold Re Ltd. U.S. Dollar 100 % Reaseguradora para compañías del Grupo Empresarial Ecopetrol Bermuda Bermuda 910,296 (4,845) 1,068,795 158,499 Andean Chemicals Ltd. U.S. Dollar 100 % Investment vehicle Bermuda Bermuda 1,452,098 79,911 1,452,672 574 Oleoducto de los Llanos Orientales S. A. - ODL Colombian peso 65 % Pipeline transportation of crude oil Panama Colombia 788,011 202,735 1,432,716 644,705 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) for ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ the period ​ Assets ​ Liabilities Inversiones de Gases de Colombia S.A. Invercolsa S.A. ​ Colombian peso ​ 51.88 ​ Holding with investments in transportation and distribution companies of natural gas and LPG in Colombia ​ Colombia ​ Colombia ​ 599,684 ​ 122,951 ​ 625,859 ​ 26,175 Alcanos de Colombia S.A. E.S.P. (3) Colombian peso 29.61 ​ Provision of the home public service of fuel gas, the construction and operation of gas pipelines, distribution networks, regulation, measurement and compression stations. Colombia Colombia 318,308 57,206 746,076 427,768 Metrogas de Colombia S.A E.S.P. (3) Colombian peso 33.49 ​ Provision of the public service of commercialization and distribution of fuel gas; the exploration, exploitation, storage, use, transportation, refining, purchase, sale and distribution of hydrocarbons and their derivatives. Colombia Colombia 56,786 8,618 114,841 58,055 Gases del Oriente S.A. E.S.P. (3) Colombian peso 48.50 ​ Provision of the home public service of fuel gas distribution and the development of all complementary activities to the provision of said service. Colombia Colombia 83,983 19,592 193,661 109,678 Promotora de Gases del Sur S.A. E.S.P. (3) ​ Colombian peso ​ 31.44 ​ Promote the linking of national or foreign capital, public or private, to achieve the gas massification project. ​ Colombia ​ Colombia ​ 48,452 ​ 12,822 ​ 74,456 ​ 26,004 Combustibles Líquidos de Colombia S.A E.S.P. (3) ​ Colombian peso ​ 41.61 ​ Wholesale commercialization of fuel gas, the provision of the home public LPG distribution service and the development of complementary activities to the provision of said service. ​ Colombia ​ Colombia ​ 55,662 ​ 574 ​ 75,392 ​ 19,730 Gasoducto de Oriente S.A (3) ​ Colombian peso ​ 31.61 ​ Design and construction of hydrocarbon production and treatment plants, construction of hydrocarbon transmission lines. ​ Colombia ​ Colombia ​ 573 ​ (13) ​ 585 ​ 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) for ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ the period ​ Assets ​ Liabilities ​ Ecopetrol USA Inc. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 9,135,364 159,213 9,144,503 9,139 Ecopetrol Permian LLC. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 4,699,599 76,740 5,016,981 317,382 Ecopetrol Oleo é Gas do Brasil Ltda. ​ Brazilian real ​ 100 % Hydrocarbons exploration and exploitation ​ Brazil ​ Brazil ​ 1,889,228 ​ (49,359) ​ 1,932,152 ​ 42,924 Esenttia Masterbatch Ltda. ​ Colombian peso ​ 100 % Manufacture of polypropylene compounds and masterbatches ​ Colombia ​ Colombia ​ 266,101 ​ 110,500 ​ 483,316 ​ 217,215 Ecopetrol del Perú S. A. ​ U.S. Dollar ​ 100 % Hydrocarbons exploration and exploitation ​ Peru ​ Peru ​ 57,575 ​ (303) ​ 60,018 ​ 2,443 ECP Hidrocarburos de México S.A. de C.V. ​ U.S. Dollar ​ 100 % Offshore exploration ​ Mexico ​ Mexico ​ 33,658 ​ (117,673) ​ 52,569 ​ 18,911 Ecopetrol Costa Afuera S.A.S. Colombian peso 100 % Offshore exploration Colombia Colombia 12,307 (1,049) 32,412 20,105 Ecopetrol Energía S.A.S E.S.P. Colombian peso 100 % Energy supply service Colombia Colombia 16,249 3,588 108,339 92,090 Esenttia Resinas del Perú SAC U.S. Dollar 100 % Commercialization polypropylene resins and masterbatches Peru Peru 10,521 3,531 77,202 66,681 Topili Servicios Administrativos S de RL De CV. Mexican peso 100 % Specialized management services Mexico Mexico 57 (17) 59 2 Kalixpan Servicios Técnicos S de RL De CV. Mexican peso 100 % Specialized services related to oil and gas industry Mexico Mexico 62 (16) 64 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ Geographic area ​ ​ ​ Profit (loss) ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ of operations ​ Net equity ​ for the period ​ Assets ​ Liabilities Associates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Serviport S.A. (2) Colombian peso 49 % Services to support the loading and unloading of oil trucks, supply of equipment for the same purpose, technical inspections and load measurements Colombia Colombia 17,430 568 45,457 28,027 Sociedad Portuaria Olefinas y Derivados S.A. (1) Colombian peso 50 % Construction, use, maintenance, adaptation and administration of port facilities, ports, private docks or service to the general public Colombia Colombia 5,297 192 7,943 2,646 Joint ventures Equion Energía Limited U.S. Dollar 51 % Hydrocarbons exploration and exploitation United Kingdom Colombia 2,767,907 25,726 2,866,038 98,131 Ecodiesel Colombia S.A. (1) Colombian peso 50 % Production, commercialization and distribution of biofuels and oleochemicals Colombia Colombia 96,507 23,162 182,658 86,151 ​ (1) Information available as of May 31, 2021 . (2) Information available as of September 30, 2020, the investment is totally impaired. (3) Indirect participation through Inversiones de Gases de Colombia S.A. - Invercolsa S.A.

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	6 Months Ended
	Jun. 30, 2021
Cash and cash equivalents.
Schedule of Cash and cash equivalents	​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Banks and corporations 4,749,147 4,215,518 Short-term investments 272,141 866,606 Cash 256 184 ​ 5,021,544 5,082,308 ​

Trade and other receivables, _2

Trade and other receivables, net (Tables)	6 Months Ended
	Jun. 30, 2021
Trade and other receivables, net
Schedule of trade and other receivables, net	​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Current Customers Foreign 2,987,223 ​ 2,021,070 Domestic 2,236,968 ​ 1,913,106 Fuel price stabilization fund (1) 3,785,873 ​ 319,927 Employee loans ​ 91,738 ​ 97,723 Industrial services ​ 41,007 ​ 39,651 Related parties (Note 28) ​ 28,332 ​ 105,048 Others (2) 368,495 ​ 322,567 ​ 9,539,636 ​ 4,819,092 Non–current ​ Employee loans 461,709 ​ 474,693 Domestic customers ​ 55,479 ​ 51,955 Others (2) 221,115 ​ 149,959 ​ 738,303 ​ 676,607 ​ (1) Corresponds to the application of Resolution 180522 of March 29, 2010 and other regulations that modify and add it (Decree 1880 of 2014 and Decree 1068 of 2015), which establishes the procedure to recognize the subsidy for refiners and importers of motor gasoline current and ACPM, and the methodology for calculating the net position (value generated between the parity price and the regulated price, which can be positive or negative). According to the Resolution, the increase in receivables corresponds to the increase in Brent prices. (2) Corresponds mainly to crude oil loan agreements in transportation systems.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2021
Inventories
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Crude (1) 2,646,261 1,719,426 Fuels and petrochemicals 2,357,105 1,407,297 Materials for goods production 2,173,980 1,927,237 ​ 7,177,346 5,053,960 ​ (1) The variation is mainly generated by the increase in the price of crude oil given the recovery of international benchmarks observed in 2021 and by a higher level of inventory in transit.

Other financial assets (Tables)

Other financial assets (Tables)	6 Months Ended
	Jun. 30, 2021
Other financial assets
Schedule of other financial assets	​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Assets measured at fair value Investment portfolio – Local currency 468,725 ​ 474,535 Investment portfolio – Foreign currency 913,753 ​ 2,494,124 Assets measured at fair value through other comprehensive income 1,182 ​ 732 Hedging instruments (1) 11,460 ​ 98,877 ​ ​ 1,395,120 ​ 3,068,268 Assets measured at amortized cost 3,588 ​ 3,391 ​ 1,398,708 ​ 3,071,659 Current 206,284 ​ 2,194,651 Non–current 1,192,424 ​ 877,008 ​ ​ 1,398,708 ​ 3,071,659 ​ (1) As of June 30, 2021, it corresponds to swap contracts to hedge commodity price risk and forwards to hedge exchange rate risk. ​
Schedule of fair value hierarchy level	​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Level 1 120,893 5,273 Level 2 1,274,227 3,062,995 ​ 1,395,120 3,068,268

Taxes (Tables)

Taxes (Tables)	6 Months Ended
	Jun. 30, 2021
Taxes
Schedule of current tax assets and tax liabilities and movements of deferred income tax	​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Current tax assets ​ ​ Income tax (1) ​ 2,351,296 1,823,027 Credit tax balance (2) ​ 2,135,113 1,311,693 Other taxes (3) ​ 1,078,562 ​ 841,575 ​ ​ 5,564,971 3,976,295 Non-current tax assets ​ ​ ​ ​ Deferred tax (4) ​ 8,162,781 ​ 7,673,912 Income tax (5) ​ 410,819 ​ 397,821 ​ ​ 8,573,600 ​ 8,071,733 ​ ​ ​ ​ ​ Current tax liabilities ​ ​ ​ Income tax payable (6) ​ 246,794 811,197 Industry and commerce tax ​ 123,536 ​ 161,813 National tax and surcharge on gasoline ​ 142,535 137,710 Carbon tax ​ 45,233 64,091 Value added tax ​ 53,411 ​ 5,607 Other taxes ​ 89,276 63,465 ​ ​ 700,785 1,243,883 ​ ​ ​ ​ ​ Non-current tax liabilities ​ ​ ​ ​ Deferred tax (7) ​ 1,784,493 ​ 1,639,206 Income tax (8) ​ 252,598 ​ 226,848 ​ ​ 2,037,091 ​ 1,866,054 ​ (1) Given the payment for self-withholdings during the year, credit for foreign tax paid, credit for 50% of the industry and commerce paid has generated a favorable balance for the term. (2) Corresponds mainly to the Ecopetrol´s value added tax (VAT) and credit industry and commerce tax balance. (3) Includes the VAT credit derived from the acquisition of real productive fixed assets, following Article 95 of Law 2010 of 2019 and municipal advance payments and municipal self-withholdings. (4) The increase presented in the deferred tax asset during 2021, was generated mainly by the effect of foreign exchange in loans. The financial projections of the Group estimate that in the future enough fiscal profits will be generated to allow their recoverability within the terms established in the current fiscal regulations. (5) Corresponds to the effective VAT credit paid on the acquisition of real productive fixed assets, which, given the limitations established by law, will be used in future income tax returns. (6) Corresponds mainly to the Ocensa and Cenit value income tax advances for the fiscal year 2021. (7) The increase is mainly due to the variation in the exchange rate. (8) The advance payment mechanism of “works for taxes” is regulated by article 800 of the tax statute, which established it as a form of payment in respect to the income tax payable for the years 2017, 2018 and 2019. In compliance therewith, in May 2018, 2019 and 2020, the Group recognized an asset and a liability for the value of the projects designated for each fiscal year. According to IAS 34, for deferred income tax calculation purposes, the Company used the best estimate of the weighted average annual income tax rate expected for the full financial year.
Schedule of income tax expense	​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ 2021 2020 ​ (Unaudited) ​ Current income tax 2,746,903 1,741,312 Deferred income tax 913,455 (801,302) Adjustments to prior years’ current and deferred tax ​ (18,999) ​ (31,059) Income tax expense ​ 3,641,359 ​ 908,951 ​
Schedule of deferred income tax	​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Deferred tax assets ​ 8,162,781 7,673,912 Deferred tax liabilities ​ (1,784,493) (1,639,206) Net deferred income tax ​ 6,378,288 6,034,706
Schedule of deferred income tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 Deferred tax assets (liabilities) ​ (Unaudited) Loss carry forwards (1) ​ 3,541,693 4,478,606 Provisions (2) ​ 3,217,136 3,187,850 Employee benefits (3) ​ 2,038,462 1,874,242 Accounts payable ​ 25,084 (10,626) Loans and borrowings (4) ​ 1,983,432 ​ 846,019 Accounts receivable ​ 126,954 183,843 Excess presumptive income ​ — 61,722 Other ​ (17,844) ​ 47,269 Goodwill (5) ​ (366,346) (366,346) Property plant and equipment and Natural and environmental resources (6) ​ (4,170,283) (4,267,873) ​ ​ 6,378,288 6,034,706 ​ (1) The reduction compared to December 2020 mainly corresponds to the fact that the deferred tax associated with tax losses and excess presumptive income for Ecopetrol was offset based on the results and projections for the year. The deferred tax asset for tax losses corresponds to COP$3,541,693, made up of: Ecopetrol USA Inc. for COP$1,793,913, Refinería de Cartagena for COP$1,734,569, and Invercolsa COP$13,211. (2) Corresponds to non-deductible accounting provisions, mainly the asset retirement obligation (ARO) provision. (3) Actuarial calculations for health, pensions, education, pension bonuses and other long-term benefits to employees. (4) The increase is mainly due to the variation in the exchange rate. (5) According to Colombian tax law, goodwill acquired before 2017 is subject to amortization, while under IFRS it is not amortized but such goodwill is subject to impairment tests, and any difference results in a deferred tax liability. (6) For tax purposes natural and environmental resources and property, plant and equipment have a useful life and a methodology for calculating depreciation and amortization different from those determined under international accounting standards. Under NCIF (Accounting and Financial Information Standards accepted in Colombia), the useful life is determined by a technical analysis. This difference translates into a different depreciation base for accounting and tax purposes. Within this item the amount of tax is also included for capital gains of 10% on land, as well as the application of the income tax rate of 31% and 30% for the other assets.
Schedule of movements of deferred income tax	​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ Opening balance ​ 6,034,706 5,480,516 Deferred tax recognized in profit or loss ​ (929,331) ​ 928,517 Increase due to business combinations ​ — (383,346) Deferred tax recognized in other comprehensive income (a) ​ 1,084,030 ​ 89,526 Foreign currency translation ​ 188,883 (80,507) Closing balance ​ 6,378,288 ​ 6,034,706 ​ (a) The following is the composition of the income tax recorded against other comprehensive income:
Schedule of income tax recorded in other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 (unaudited) Base Deferred tax Total Actuarial valuation gains (losses) 511,273 (153,382) 357,891 Cash flow hedging for future crude oil exports ​ 315,515 ​ (95,480) ​ 220,035 Hedge of a net investment in a foreign operation ​ 2,639,256 ​ (791,777) ​ 1,847,479 Hedge with derivative instruments 143,496 (43,391) 100,105 ​ 3,609,540 (1,084,030) 2,525,510 ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 Base Deferred tax Total Actuarial valuation gains (losses) (137,459) 41,238 (96,221) Cash flow hedging for future crude oil exports ​ (1,186) ​ 1,908 ​ 722 Hedge of a net investment in a foreign operation ​ 520,490 ​ (156,147) ​ 364,343 Hedge with derivative instruments (78,547) 23,475 (55,072) ​ ​ 303,298 ​ (89,526) ​ 213,772

Other assets (Tables)

Other assets (Tables)	6 Months Ended
	Jun. 30, 2021
Other assets
Schedule of other assets	​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Current ​ ​ Partners in joint operations (1) ​ 638,313 ​ 534,145 Advanced payments to contractors and suppliers ​ 509,706 503,698 Prepaid expenses ​ 244,957 369,979 Trust funds (2) ​ 281,424 ​ 218,158 Related parties (Note 28) ​ 2,469 7,093 Other assets ​ 30,414 30,963 ​ ​ 1,707,283 1,664,036 Non–current ​ ​ ​ Abandonment and pension funds (3) ​ 410,586 405,376 Trust funds (2) ​ 373,494 338,067 Employee benefits (4) ​ 232,387 221,658 Advanced payments and deposits ​ 54,101 54,392 Judicial deposits and judicial attachments ​ 39,818 42,672 Other assets ​ 22,355 27,949 ​ ​ 1,132,741 1,090,114 ​ (1) Corresponds to the net value of cash calls and cutbacks generated in relation to the operations carried out with partners through Exploration and Production (E&P) contracts, Technical Evaluations (TEA) contracts and agreements entered in to with the National Hydrocarbons Agency of Colombia (ANH), as well as through association contracts and other types of contracts. (2) It mainly includes the resources invested in a trust destined to taxes paid through social and infrastructure projects, payment mechanism for 2019- and 2020-income tax, constituted in compliance with article 238 of Law 1819 of 2016 - Tax Reform. (3) Corresponds to Ecopetrol’s share in trusts established to support costs of abandonment of wells and dismantling of facilities as well as the payment of future retirement pensions in some association contracts. (4) Corresponds to the benefit of lower interest rates on employee loans, granted by Ecopetrol .

Investments in associates and_2

Investments in associates and joint ventures (Tables)	6 Months Ended
	Jun. 30, 2021
Investments in associates and joint ventures
Schedule of investment entities	​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ 2021 2020 ​ ​ (Unaudited) ​ ​ Joint ventures ​ ​ Equion Energía Limited ​ 1,780,068 1,642,735 Offshore International Group (1) ​ — 613,258 Ecodiesel Colombia S.A. ​ 48,253 51,672 ​ ​ 1,828,321 2,307,665 Less impairment: ​ ​ Equion Energía Limited ​ (314,460) (314,460) Offshore International Group (1) ​ — (609,826) ​ ​ 1,513,861 1,383,379 Associates ​ ​ Gases del Caribe S.A. E.S.P. ​ 1,524,380 1,512,629 Gas Natural del Oriente S.A. E.S.P. ​ 139,502 143,893 Gases de la Guajira S.A. E.S.P. ​ 69,748 69,518 E2 Energía Eficiente S.A. E.S.P. ​ 34,761 ​ 35,614 Extrucol S.A. ​ 26,076 ​ 26,996 Serviport S.A. ​ 8,541 ​ 8,541 Sociedad Portuaria Olefinas ​ 3,288 2,599 ​ ​ 1,806,296 ​ 1,799,790 Less impairment: Serviport S.A. ​ (8,541) (8,541) ​ ​ 1,797,755 1,791,249 ​ ​ 3,311,616 3,174,628 ​ (1) On January 19, 2021, by signing the share purchase agreement with one of the subsidiaries of De Jong Capital LLC., as the buyer, Ecopetrol formalized the disposal of the entire participation in the equity in Offshore International Group (OIG), in which it had a participation of 50%. This operation generated the following impacts on the results of the period: profit from the sale of assets for COP$4,923 and the realization of other comprehensive income for COP$361,728 (Note 26).
Schedule of movement of investments in associates and joint ventures	Movement of investments in associates and joint ventures for the period ended June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Balance as of December 31, 2020 1,791,249 1,383,379 3,174,628 Equity method recognized in: ​ ​ ​ Profit or loss 90,317 24,919 115,236 Share of other comprehensive income 488 124,044 124,532 Dividends declared (84,299) (15,000) (99,299) Transfers ​ — ​ (3,481) ​ (3,481) Balance as of June 30, 2021 (Unaudited) 1,797,755 1,513,861 3,311,616 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Balance as of December 31, 2019 1,826,757 1,418,315 3,245,072 Equity method recognized in: Profit or loss 114,779 (38,443) 76,336 Share of other comprehensive income (2,923) — (2,923) Dividends declared (148,665) (9,017) (157,682) Impairment reversal (loss) 2,529 (69,041) (66,512) Foreign currency translation (1,228) 81,565 80,337 Balance as of December 31, 2020 1,791,249 1,383,379 3,174,628

Property, plant and equipment (

Property, plant and equipment (Tables)	6 Months Ended
	Jun. 30, 2021
Property, plant and equipment
Schedule of plant and equipment and depreciation and impairment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pipelines, ​ ​ ​ ​ ​ ​ ​ Plant and ​ networks and ​ Work in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ equipment ​ lines ​ progress ​ Buildings ​ Lands ​ Other ​ Total Cost Balance as of December 31, 2020 51,088,781 37,141,694 7,514,228 8,412,469 4,112,826 2,692,461 110,962,459 Additions/capitalizations 753,624 429,434 902,157 66,392 1,649 104,585 2,257,841 Decrease in abandonment cost (Note 20) — (22,521) — — — — (22,521) Capitalized financial interests (1) 31,761 14,117 13,558 2,014 88 5,442 66,980 Exchange differences capitalized ​ 954 ​ 424 ​ 407 ​ 61 ​ 3 ​ 164 ​ 2,013 Disposals (130,961) (12,809) (33) (8,821) (246) (24,679) (177,549) Foreign currency translation ​ 2,845,316 ​ 1,015,583 ​ 79,730 ​ 124,088 ​ 148,475 ​ 64,383 ​ 4,277,575 Reclassifications/transfers ​ (229,938) ​ 43,931 ​ (3,940) ​ 14,203 ​ — ​ (46,975) ​ (222,719) Balance as of June 30, 2021 (Unaudited) 54,359,537 38,609,853 8,506,107 8,610,406 4,262,795 2,795,381 117,144,079 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation and impairment losses Balance as of December 31, 2020 (21,256,869) ​ (17,558,024) ​ (1,023,456) ​ (3,628,724) ​ (78,548) ​ (908,500) ​ (44,454,121) Depreciation expense (1,159,638) ​ (748,567) ​ — ​ (183,338) ​ — ​ (53,827) ​ (2,145,370) (Impairment) Recovery 3,432 ​ — ​ — ​ 18 ​ — ​ — ​ 3,450 Disposals 124,202 ​ 3,577 ​ — ​ 5,451 ​ — ​ 22,981 ​ 156,211 Foreign currency translation ​ (975,677) ​ (432,119) ​ (932) ​ (40,976) ​ (3,130) ​ (32,463) ​ (1,485,297) Reclassifications/transfers 170,367 ​ (17,697) ​ 20,127 ​ (7,554) ​ — ​ (4,102) ​ 161,141 Balance as of June 30, 2021 (Unaudited) (23,094,183) ​ (18,752,830) ​ (1,004,261) ​ (3,855,123) ​ (81,678) ​ (975,911) ​ (47,763,986) Balance as of December 31, 2020 29,831,912 ​ 19,583,670 ​ 6,490,772 ​ 4,783,745 ​ 4,034,278 ​ 1,783,961 ​ 66,508,338 Balance as of June 30, 2021 (Unaudited) ​ 31,265,354 ​ 19,857,023 ​ 7,501,846 ​ 4,755,283 ​ 4,181,117 ​ 1,819,470 ​ 69,380,093 ​ (1) Financial interest is capitalized based on the weighted average rate of borrowing costs. See Note 17 - Loans and borrowings.

Natural and environmental res_2

Natural and environmental resources (Tables)	6 Months Ended
	Jun. 30, 2021
Natural and environmental resources
Schedule of detailed information about natural and environmental	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and gas Asset retirement Exploration and ​ ​ ​ investments ​ cost ​ evaluation ​ Total Cost Balance as of December 31, 2020 65,367,278 7,231,851 8,867,894 81,467,023 Additions /capitalizations (1) 1,320,790 268,342 1,277,658 2,866,790 Decrease in abandonment costs (Note 20) — (36,272) — (36,272) Disposals (2,910) — (4,924) (7,834) Disposals of exploratory assets and dry wells (2) — — (170,204) (170,204) Capitalized financial interests 41,235 — 14,436 55,671 Exchange differences capitalized 1,239 — 434 1,673 Foreign currency translation ​ 1,104,483 ​ 54,156 ​ 580,513 ​ 1,739,152 Reclassifications/transfers 209,981 1,309 11,865 223,155 Balance as of June 30, 2021 (Unaudited) 68,042,096 7,519,386 10,577,672 86,139,154 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated amortization Balance as of December 31, 2020 (46,106,147) (2,981,449) (445,268) (49,532,864) Amortization expense (1,675,973) (735,839) — (2,411,812) Disposals 325 — — 325 Foreign currency translation (788,135) (23,432) — (811,567) Reclassifications/transfers (256,321) — 109,054 (147,267) Balance as of June 30, 2021 (Unaudited) (48,826,251) (3,740,720) (336,214) (52,903,185) ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of December 31, 2020 19,261,131 4,250,402 8,422,626 31,934,159 Balance as of June 30, 2021 (Unaudited) 19,215,845 3,778,666 10,241,458 33,235,969 ​ (1) It mainly includes a) Ecopetrol Permian COP $1,108,482 for investments made in drilling of wells and construction of facilities executed in Rodeo, b) Ecopetrol S.A. COP $1,478,731 mainly Cantagallo, Casabe, Castilla, Chichimene and Rubiales fields and c) Hocol COP $188,752 mainly in Mamey-3, Pintado, Pozo Toldado, SN-8, Rc7 Pozo Basari y Ocelote wells. (2) It mainly includes the Moyote well by Ecopetrol México for COP $97,412 and Ecopetrol S.A. mainly includes the Aguas Blancas, Alqamari-1 and Nafta-1 wells for COP $29,650 , Hocol Chacha 2 well for COP$ 10,864 and from Ecopetrol America the Silverback # 1 well for COP$ 4,275 . Additionally, for Hocol includes exploratory and capitalized project expenses for COP$ 28,335 .

Right-of-use assets (Tables)

Right-of-use assets (Tables)	6 Months Ended
	Jun. 30, 2021
Right-of-use assets
Schedule of right-of-use assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets ​ ​ ​ ​ Lands and ​ Plant and ​ ​ ​ Right-of-use ​ Lease ​ buildings equipment ​ Vehicles assets liabilities Balance as of December 31, 2020 93,472 133,939 150,475 377,886 1,055,198 Additions 9,347 1,135 782 11,264 11,264 Amortization expense (15,535) (30,305) (42,278) (88,118) — Remeasurements 2,234 34,978 5,400 42,612 43,851 Disposals (208) — — (208) (5,085) Finance cost — — — — 27,621 Payment of capital and interests — — — — (150,191) Exchange difference 5,778 1,933 1,492 9,203 35,087 Balance as of June 30, 2021 (unaudited) 95,088 141,680 115,871 352,639 1,017,745

Loans and borrowings (Tables)

Loans and borrowings (Tables)	6 Months Ended
	Jun. 30, 2021
Disclosure of loans and borrowings
Schedule of composition of loans and borrowings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ ​ Interest rate* ​ 2021 ​ 2020 ​ 2021 2020 (Unaudited) ​ Local currency ​ ​ ​ ​ Bonds 8.4 % 6.4 % 1,085,068 1,084,461 Syndicate loans 5.9 % 5.6 % 706,173 811,079 Lease liabilities (1) ​ 6.3 % 6.6 % 795,630 ​ 836,489 Commercial loans and others ​ 3.8 % 6.3 % 351,926 ​ 312,408 ​ ​ ​ ​ ​ 2,938,797 3,044,437 Foreign currency Bonds (2) 6.0 % 6.0 % 37,083,467 33,944,548 Commercial loans 3.5 % 3.6 % 8,422,931 8,247,014 Loans from related parties (Note 28) ​ ​ ​ ​ 1,393,160 1,277,046 Lease liabilities (1) 6.1 % 6.1 % 222,115 218,709 ​ ​ ​ ​ ​ 47,121,673 43,687,317 ​ ​ ​ ​ ​ 50,060,470 46,731,754 Current ​ ​ ​ 5,323,448 4,923,346 Non–current ​ ​ ​ 44,737,022 41,808,408 ​ ​ ​ ​ ​ 50,060,470 46,731,754 ​ * Weighted average effective interest rate for the end of each period (1) Corresponds to the present value of the payments to be made during the term of the operating leases of pipelines, tanks, real estate and vehicles, recognized as a result of the adoption of IFRS 16 – Leases. See Note 15. (2) The movement corresponds mainly to the exchange rate and the recognition of the amortized cost of the financial instrument.
Schedule of maturity of loans and borrowings	The following is the maturity profile of loans and borrowings as of June 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ year ​ 1 – 5 years 5-10 years > 10 years Total Local currency Bonds 83,953 393,012 362,357 245,746 1,085,068 Syndicate loans 239,018 467,155 — — 706,173 Lease liabilities ​ 164,448 ​ 380,922 ​ 224,051 ​ 26,209 ​ 795,630 Commercial loans and others 100,226 251,700 — — 351,926 ​ 587,645 1,492,789 586,408 271,955 2,938,797 Foreign currency ​ ​ ​ ​ ​ Bonds 2,080,731 20,340,676 8,942,639 5,719,421 37,083,467 Syndicate loans 1,159,535 4,410,301 357,242 — 5,927,078 Commercial loans 35,856 2,459,997 — — 2,495,853 Lease liabilities ​ 66,521 ​ 155,594 ​ — ​ — ​ 222,115 Loans from related parties (Note 28) 1,393,160 — — — 1,393,160 Balance as of June 30, 2021 (Unaudited) ​ 4,735,803 ​ 27,366,568 ​ 9,299,881 ​ 5,719,421 ​ 47,121,673 ​ 5,323,448 28,859,357 9,886,289 5,991,376 50,060,470

Trade and other payables (Table

Trade and other payables (Tables)	6 Months Ended
	Jun. 30, 2021
Trade and other payables
Schedule of trade and other payables	​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Current ​ ​ ​ ​ Suppliers 7,207,899 6,491,909 Partner's advances 967,790 497,898 Withholding tax 483,709 462,429 Dividends payable (1) 356,344 223,571 Insurance and reinsurance ​ 157,258 ​ 240,803 Deposits received from third parties 67,819 84,436 Related parties (Note 28) 56,868 72,316 Hedging operations (2) ​ 47,203 ​ 6,405 Agreements in transport contracts ​ 29,802 ​ 37,941 Various creditors 385,401 331,333 ​ 9,760,093 8,449,041 Non-current ​ ​ ​ ​ Deposits received from third parties 527 1,109 Various creditors 15,809 19,955 ​ 16,336 21,064 ​ (1) Corresponds to dividends declared by Oleoducto de los Llanos Orientales S.A. COP$ 73,587 , Oleoducto Bicentenario de Colombia S.A.S COP$ 212,724 , Oleoducto Central S.A. COP$ 34,502 , Inversiones de Gases de Colombia S.A. COP$ 31,816 and Ecopetrol S.A. COP$ 3,716 and payable to third parties. (2) Corresponds to the payable account for the settlement of swap contracts acquired to hedge the risk of crude export prices.

Provisions for employee benef_2

Provisions for employee benefits (Tables)	6 Months Ended
	Jun. 30, 2021
Provisions for employee benefits.
Schedule of provision balances for employee benefits	​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Post–employment benefits Healthcare 7,285,586 7,193,527 Pension (1) 3,372,901 2,819,985 Education 475,615 485,792 Bonds 386,713 342,669 Other plans 104,891 102,632 Termination benefits – Voluntary retirement plan (2) 686,534 713,407 ​ 12,312,240 11,658,012 Social benefits and salaries 537,777 674,080 Other long-term benefits 86,516 91,575 ​ 12,936,533 12,423,667 Current 1,926,005 2,022,137 Non–current 11,010,528 10,401,530 ​ 12,936,533 12,423,667 ​ (1) Corresponds to pension liabilities and plan assets, net. During 2021 the portfolios of the plan assets have been decreased considering the fair value valuation (Note 19.1). (2) It includes the obligation for the new voluntary retirement plan, on which Ecopetrol made offers to a part of its workers during 2020, to which 12 workers in 2021 and 421 in 2020 have accepted. This plan was approved at the end of 2019 by the Company's Board of Directors and includes the retirement of employees from January 2020 until December 2023, through 4 modalities: Compliance with the work cycle (pension), Retirement Plan A (Rent), Retirement Plan B (Bonus) and Enhanced Compensation.
Schedule of movement of defined benefits plans recognized in results and other comprehensive income	The following table shows the movement in profit and loss and in other comprehensive income for the periods ended June 30: ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ 2021 2020 ​ (Unaudited) Profit or loss Interest expense, net 319,540 306,050 Service cost 38,368 59,052 ​ 357,908 365,102 Other comprehensive income Pension and bonds (511,273) (64,897) Others — (63) ​ (511,273) (64,960) Deferred tax 153,382 19,488 ​ (357,891) (45,472)

Accrued liabilities and provi_2

Accrued liabilities and provisions (Tables)	6 Months Ended
	Jun. 30, 2021
Accrued liabilities and provisions
Schedule of accrued liabilities and provisions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Abandonment ​ Environmental ​ ​ ​ and dismantling ​ ​ ​ contingencies and ​ ​ ​ ​ costs ​ Litigations ​ others ​ Total Balance as of December 31, 2020 11,239,325 118,139 1,070,266 12,427,730 Update in abandonment costs (58,793) — — (58,793) Additions (recoveries) (5,663) 206,515 93,215 294,067 Uses (177,617) (1,136) (38,796) (217,549) Financial cost 143,593 — — 143,593 Foreign currency translation 92,485 308 22,146 114,939 Transfers (2,200) — (47,545) (49,745) Balance as of June 30, 2021 (unaudited) 11,231,130 323,826 1,099,286 12,654,242 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current 761,633 30,762 226,681 1,019,076 Non-current 10,469,497 293,064 872,605 11,635,166 ​ 11,231,130 323,826 1,099,286 12,654,242

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Equity
Schedule of composition of the ecopetrol business group's reserves	​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Legal reserve 4,737,788 4,568,980 Fiscal and statutory reserves 509,082 509,082 Occasional reserves (1) 5,377,359 4,557,074 Total 10,624,229 9,635,136 ​ (1) Ecopetrol’s General Meeting of Shareholders, held on March 26, 2021, approved the 2020 profit distribution project and recognized a reserve of COP$5,377,359 (2020: COP$4,557,074) in order to support the Company’s financial sustainability and flexibility in development of your strategy.
Schedule of balance of movement of equity reserves	The movement of the equity reserves is the following: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Opening balance 9,635,136 3,784,658 Release of reserves (5,066,156) (540,826) Appropriation of reserves 6,055,249 6,391,304 Closing balance 10,624,229 9,635,136
Schedule of composition of the other comprehensive income attributable to the shareholders	The following is the composition of the other comprehensive results attributable to the shareholders of the parent company, net of deferred income tax: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Foreign currency translation (1) 14,933,449 11,794,201 Hedges of a net investment in a foreign operation (3,342,405) (1,494,926) Actuarial gain on defined benefit plans (2,618,880) (2,260,989) Cash flow hedges for future exports (356,505) (136,470) Cash flow hedge with derivative instruments (34,030) 44,132 Others 1,699 1,114 ​ 8,583,328 7,947,062 ​ (1) Includes the realization of other comprehensive income for COP$ 361,728 from the sale of the participation in the capital stock of Offshore International Group (OIG).

Revenue from contracts with c_2

Revenue from contracts with customers (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from contracts with customers
Schedule of detailed information of revenue from contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) National sales ​ ​ Mid–distillates (1) 6,693,474 ​ 4,537,459 Gasolines and turbo fuel (1) 6,008,990 ​ 3,021,094 Natural gas 1,470,647 ​ 1,339,952 Services 1,455,204 ​ 1,457,989 Plastic and rubber 719,638 ​ 334,937 L.P.G. and propane 360,361 ​ 159,937 Fuel gas service 346,308 ​ 330,272 Asphalts 279,851 ​ 215,060 Polyethylene 170,346 ​ 60,708 Aromatics 121,718 ​ 74,936 Crude 86,399 ​ 117,457 Fuel oil 17,133 ​ 19,219 Other income - Gas contracts (2) 1,790 ​ 28,572 Other products 218,809 ​ 203,810 Cash flow hedging (3) ​ (8) ​ — ​ 17,950,660 ​ 11,901,402 Foreign sales ​ ​ Crude (3) 14,380,121 ​ 9,612,415 Diesel 2,075,001 ​ 1,243,219 Fuel oil (3) 1,108,341 ​ 422,833 Plastic and rubber 1,010,593 ​ 575,980 L.P.G. and propane 27,802 ​ 6,157 Natural gas 23,828 ​ 7,742 Cash flow hedging (3) (124,428) ​ (715,169) Gasolines y turbo fuels ​ — ​ 153,680 Other products 266,846 ​ 433,654 ​ 18,768,104 ​ 11,740,511 ​ 36,718,764 ​ 23,641,913 ​ (1) Includes (i) the revenue from contracts with customers for COP $9,246,560 (2020: (COP $7,150,686 )) and ii) the value recognized by price differential for COP $3,455,904 (2020: (COP $407,867 )), corresponding to the application of Decree 180522 of March 29, 2010, and other standards that modify and add (Decree 1880 of 2014 and Decree 1068 of 2015), which establishes the procedure to recognize the subsidy for refiners and importers of ordinary motor gasoline and ACPM, and the methodology for calculating the net position (value generated between the parity price and the regulated price, which can be positive or negative). (2) Corresponds to the income on the participation in the profits of gas sales, according to the agreement signed between Ecopetrol and Hocol (considering the assets purchase agreement signed with Chevron to acquire the stake owned by the latter in the Guajira Association as of May 1, 2020), for the extension of the association contract for the exploitation of gas in La Guajira. (3) Includes accumulated as of June 30 the result of hedging for future exports (Note 27.3) for COP $81,095 (2020: COP$ 97,111 ) and operations with derivative financial instruments for COP$ 43,341 (2020: COP $618,058 ).

Cost of sales (Tables)

Cost of sales (Tables)	6 Months Ended
	Jun. 30, 2021
Cost of sales
Schedule of cost of sales of non current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ ​ 2021 ​ 2020 ​ (Unaudited) Variable costs ​ ​ ​ ​ Depreciation, depletion and amortization 3,169,536 2,953,636 Imported products (1) 6,226,515 4,127,712 Purchases of crude in associations and concessions (2) 3,918,432 1,708,271 Hydrocarbon purchases - ANH (3) 2,460,508 1,284,644 Hydrocarbon transportation services 449,215 436,187 Electric energy 506,011 544,479 Gas royalties in cash 515,160 417,255 Processing materials 402,041 421,551 Purchases of other products and gas 352,677 301,996 Services contracted in association 124,214 127,708 Others (4) (1,955,697) 896,395 ​ 16,168,612 13,219,834 Fixed cost ​ ​ Depreciation and amortization 1,396,027 1,442,247 Labor costs 1,145,398 1,181,037 Maintenance 1,075,034 1,006,407 Contracted services 809,689 776,300 Contracted services in associations 557,410 593,567 Taxes and contributions 396,015 321,320 Materials and operating supplies 246,622 220,215 Hydrocarbon transport services 27,979 120,563 General costs (5) 120,655 28,099 ​ 5,774,829 5,689,755 ​ 21,943,441 18,909,589 ​ (1) The imported products correspond mainly to ACPM and diluent to facilitate the transport of heavy crude oil. (2) The increase in purchases corresponds to 1) new contracts with third parties to support the recovery of refinery loads and 2) the increase in prices associated to the recovery of international indicators. (3) It corresponds to the purchases of crude oil from royalties that Ecopetrol makes to the National Agency of Hydrocarbons (ANH) derived from the national production. (4) Corresponds to: i) result of the process of use and valuation of core inventories, ii) measurement at net realizable value (VNR) and iii) other charges that can be capitalized to projects. The variation corresponds to the recovery of international indicators that affects the valuation and higher volumes. (5) Includes the transfer to operating expenses of the costs related to the Barranca refinery units without production due to the decrease in loading capacity due to the health emergency .

Administrative, operation and_2

Administrative, operation and project expenses (Tables)	6 Months Ended
	Jun. 30, 2021
Administrative, operation and project expenses
Schedule of administrative, operation and project expenses	​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30, ​ 2021 2020 ​ (Unaudited) Administration expenses ​ ​ ​ ​ General expenses 560,614 614,607 Labor expenses (1) 548,535 673,488 Depreciation and amortization 35,610 45,800 Taxes 34,141 38,057 ​ 1,178,900 1,371,952 Operation and project expenses ​ ​ Commissions, fees, freights and services 269,201 344,553 Taxes 220,745 197,011 Labor expenses 151,797 155,503 Exploration expenses 235,402 177,599 Depreciation and amortization 96,472 84,841 Fee for regulatory entities 75,141 51,318 Maintenance 59,045 48,866 Others ​ 53,410 ​ 60,933 ​ 1,161,213 1,120,624 ​ (1) It includes since 2020 the recognition of the new voluntary retirement plan for 12 workers in 2021 and 421 in 2020.

Other operating (expenses) in_2

Other operating (expenses) income (Tables)	6 Months Ended
	Jun. 30, 2021
Other operating (expenses) income
Schedule of other operating (expenses) income	​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30 ​ 2021 2020 ​ ​ (Unaudited) Provision expenses ​ (298,798) ​ (45,552) Disposals (28,091) (17,810) Impairment loss of current assets (18,844) (7,304) Gain in acquisition of participation in joint operations (1) — 1,373,112 Effect of control loss on subsidiaries (2) — 65,570 Other income 45,418 43,358 ​ (300,315) 1,411,374 ​ (1) As of June 2020, result in the acquisition of Guajira: Ecopetrol $1,284,372 and Hocol $ 88,740 . (2) Effect of the recognition of the reduction of net assets due to the loss of control due to the opening of the judicial liquidation process of Bioenergy S.A.S. and Bioenergy Zona Franca S.A.S .

Financial result (Tables)

Financial result (Tables)	6 Months Ended
	Jun. 30, 2021
Financial result
Schedule of Finance Income Expense Explanatory	​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended ​ ​ June 30 ​ 2021 2020 ​ ​ (Unaudited) Finance income ​ Results from financial assets 57,706 507,574 Yields and interests 67,855 179,505 (Loss) gain on derivatives valuation ​ (9,931) ​ 87,959 Gain in settlement of derivatives 16,031 - Dividends 27 22 Other financial income 8,921 18,035 ​ 140,609 793,095 Financial expenses ​ ​ Loans and borrowings (1) (1,166,137) (1,138,478) Financial cost of other liabilities (2) (512,836) (573,410) Results from financial assets (48,929) (378,557) ​ (1,727,902) (2,090,445) Foreign exchange loss ​ ​ Foreign exchange (loss) gain ​ (258,101) ​ 32,991 Realized gain of other comprehensive income from the sale of a joint venture (Note 12) ​ 361,728 ​ — ​ ​ 103,627 ​ 32,991 ​ (1,483,666) (1,264,359) ​ (1) For the six month periods ended June 30, 2021, interest capitalized in natural resources and property, plant and equipment totaled $122,651 (2020 – $129,458 ). (2) It includes the financial expense for the updating of the liability for abandonment costs, and the interest, net of post-employment benefits and other long-term employee benefits.

Risk management (Tables)

Risk management (Tables)	6 Months Ended
	Jun. 30, 2021
Balance of financial assets and liabilities denominated in foreign currency
Schedule of The Carrying Values For Financial Assets And Liabilities Denominated In Foreign Currencies	The book values of financial assets and liabilities denominated in foreign currency are presented in the following table: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, (USD$ Millions) ​ 2021 ​ 2020 ​ ​ Unaudited ​ ​ Cash and cash equivalents 292 197 Other financial assets 708 1,164 Trade receivables and payables, net 498 203 Loans and borrowings (11,660) (11,814) Other assets and liabilities, net 83 277 Net liability position (10,079) (9,973)
Schedule of Sensitivity analysis for types of market risk	The following is the effect that a variation of 1% and 5% would have in the exchange rate of Colombian pesos against the U.S. United States dollar, related to the exposure of financial assets and liabilities in foreign currency as of June 30, 2021: ​ ​ ​ ​ ​ ​ Scenario / variation in Effect on income Effect on other the exchange rate ​ before taxes +/– ​ comprehensive income +/– 1 % 17,380 360,431 5 % 86,900 1,802,156
Schedule of hedging instruments	The following is the movement of this non-derivative hedging instrument: ​ ​ ​ ​ ​ ​ (USD$ Millions) As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Opening balance 1,300 1,300 Reassignment of hedging instruments 269 1,230 Realized exports (269) (1,230) Closing balance 1,300 1,300 ​
Schedule of movement of other comprehensive income by item explanatory	The following is the movement in the other comprehensive income: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Opening balance (136,470) (135,748) Exchange difference (410,800) (201,967) Realized exports (Note 22) 81,095 193,374 Ineffectiveness 14,190 9,779 Deferred tax (Note 10) 95,480 (1,908) Closing balance (356,505) (136,470)
Schedule of expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss	The expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Before ​ ​ Year ​ taxes ​ Taxes After taxes 2021 (Jul-Dec) 113,722 (34,301) 79,421 2022 227,445 (68,602) 158,843 2023 169,308 (51,067) 118,241 ​ 510,475 (153,970) 356,505
Schedule of leverage ratio	The following is the leverage index over the periods reported: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, ​ As of December 31, ​ 2021 2020 ​ (Unaudited) ​ ​ ​ Loans and borrowings (Note 17) 50,060,470 46,731,754 ​ Cash and cash equivalents (Note 6) (5,021,544) (5,082,308) ​ Other financial assets (Note 9) (1,398,708) (3,071,659) ​ Net financial debt 43,640,218 38,577,787 ​ Equity (Note 21) 59,991,045 53,499,363 ​ Leverage (1) 42.11 % 41.90 % ​ (1) Net financial debt / (Net financial debt + Equity)
Hedge of a net investment in a foreign operation
Balance of financial assets and liabilities denominated in foreign currency
Schedule of hedging instruments	The following is the movement in the other comprehensive income: ​ ​ ​ ​ ​ ​ ​ As of June 30, As of December 31, ​ ​ 2021 ​ 2020 ​ ​ (Unaudited) ​ ​ Opening balance 1,494,926 1,130,583 Exchange difference 2,639,256 520,490 Deferred tax (Note 10) (791,777) (156,147) Closing balance 3,342,405 1,494,926

Related parties (Tables)

Related parties (Tables)	6 Months Ended
	Jun. 30, 2021
Related parties
Schedule of associates and joint ventures	The balances with associated companies and joint ventures as of June 30, 2021 and December 31, 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ Other ​ Accounts ​ Loans ​ Other ​ receivable assets payable payable liabilities Joint ventures Equion Energía Limited (1) 1,134 2,469 18,756 1,393,160 310 Ecodiesel Colombia S.A. 9,411 — 33,039 — 1 Associates ​ ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. 8,056 — 4,355 — — Extrucol S.A. ​ 2,145 ​ — ​ 329 ​ — ​ — E2 Energía Eficiente S.A. E.S.P. ​ 7,586 ​ — ​ 389 ​ — ​ — Balance as of June 30, 2021 (Unaudited) ​ 28,332 ​ 2,469 ​ 56,868 ​ 1,393,160 ​ 311 Current 28,332 2,469 56,868 1,393,160 311 ​ 28,332 2,469 56,868 1,393,160 311 ​ (Note 7) (Note 11) (Note 18) (Note 17) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ Loans ​ Other ​ Accounts ​ Loans ​ Other ​ receivable receivable assets payable payable liabilities Joint ventures Equion Energía Limited(1) 1,950 — 7,093 32,335 1,277,046 1,663 Ecodiesel Colombia S.A. 1,345 — — 35,632 — 1 Offshore International Group Inc (2) — 97,300 — — — — Associates ​ ​ ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. — — — 1,858 — — Extrucol S.A. ​ — ​ — ​ — ​ 279 ​ — ​ — E2 Energía Eficiente S.A. E.S.P. ​ 4,453 ​ — ​ — ​ 1,264 ​ — ​ — Serviport S.A. — — — 948 — — Balance as of December 31, 2020 7,748 97,300 7,093 72,316 1,277,046 1,664 Current 7,748 97,300 7,093 72,316 1,277,046 1,664 ​ 7,748 97,300 7,093 72,316 1,277,046 1,664 ​ (Note 7) (Note 7) (Note 11) (Note 18) (Note 17) ​ Loans payable: (1) Deposits held by Equion in Ecopetrol Capital AG. Loans receivable: (2) Savia Perú S.A. Loan granted by Ecopetrol S.A. This company is no longer part of the Business Group. See Note 12.
Schedule of transactions between related parties	The main transactions with related parties for the six-month period ended June 30, are detailed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ ​ ​ ​ Purchases of ​ ​ ​ Purchases of ​ ​ Sales and ​ product and ​ Sales and ​ product and ​ Services other Services other ​ ​ ( Unaudited) ​ ( Unaudited) Joint ventures ​ ​ ​ ​ ​ ​ Equion Energía Limited 15,267 39,631 17,512 227,793 Ecodiesel Colombia S.A. 15,659 192,844 4,065 125,376 Offshore International Group Inc — — 23 — ​ ​ 30,926 ​ 232,475 ​ 21,600 ​ 353,169 Associates ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. — 12,511 — 14,048 Extrucol S.A. ​ — ​ 921 ​ — ​ 128 E2 Energía Eficiente S.A. E.S.P. ​ 26,760 ​ 4,266 ​ — ​ 780 ​ ​ 26,760 ​ 17,698 ​ — ​ 14,956 ​ 57,686 250,173 21,600 368,125

Segments information (Tables)

Segments information (Tables)	6 Months Ended
	Jun. 30, 2021
Segments information
Schedule of operating segments	The following presents the consolidated statement of profit and loss by segment for the periods of six months ended June 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended June 30, 2021 (unaudited) ​ ​ Exploration and ​ Refining and ​ Transportation ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total Third party sales 16,169,774 19,217,323 1,243,946 87,721 36,718,764 Inter–segment sales 11,679,399 1,928,371 4,382,986 (17,990,756) — Revenue 27,849,173 21,145,694 5,626,932 (17,903,035) 36,718,764 Costs of sales (18,215,979) (19,989,429) (1,516,843) 17,778,810 (21,943,441) Gross profit 9,633,194 1,156,265 4,110,089 (124,225) 14,775,323 Administration expenses (753,773) (323,607) (201,972) 100,452 (1,178,900) Operation and projects expenses (581,649) (459,873) (157,506) 37,815 (1,161,213) Impairment recovery of non–current assets — 2,655 791 — 3,446 Other operating (expenses) income, net (311,212) (7,578) 18,499 (24) (300,315) Operating income 7,986,560 367,862 3,769,901 14,018 12,138,341 Financial result, net ​ ​ ​ ​ ​ Financial income 254,512 10,660 19,060 (143,623) 140,609 Financial expenses (1,170,565) (560,755) (126,177) 129,595 (1,727,902) Foreign exchange (loss) gain, net (69,419) (44,356) 217,402 — 103,627 ​ (985,472) (594,451) 110,285 (14,028) (1,483,666) Share of profit of associates and joint ventures 13,337 101,899 — — 115,236 Income before tax 7,014,425 (124,690) 3,880,186 (10) 10,769,911 Income tax (2,491,766) 27,734 (1,177,327) — (3,641,359) Net profit (loss) for the period 4,522,659 (96,956) 2,702,859 (10) 7,128,552 Net profit (loss) attributable to: ​ ​ ​ ​ ​ Group owners of parent 4,569,564 (184,163) 2,161,547 (10) 6,546,938 Non–controlling interest (46,905) 87,207 541,312 — 581,614 ​ 4,522,659 (96,956) 2,702,859 (10) 7,128,552 Supplementary information ​ ​ ​ ​ ​ Depreciation, depletion and amortization ​ 3,309,558 ​ 790,252 ​ 597,835 ​ — ​ 4,697,645 Impairment of non–current assets — 2,655 791 — 3,446 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six-month period ended June 30, 2020 (unaudited) ​ ​ Exploration and ​ Refining and ​ Transportation ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total Third party sales ​ 16,634,009 ​ 12,394,018 ​ 6,146,779 ​ (11,532,893) ​ 23,641,913 Revenue 16,634,009 12,394,018 6,146,779 (11,532,893) 23,641,913 Costs of sales (16,082,559) (12,507,567) (1,684,163) 11,364,700 (18,909,589) Gross profit 551,450 (113,549) 4,462,616 (168,193) 4,732,324 Administration expenses (881,656) (419,430) (199,171) 128,305 (1,371,952) Operation and projects expenses (552,999) (429,976) (177,266) 39,617 (1,120,624) Impairment recovery (loss) of non-current assets (518,173) (688,914) 2,808 — (1,204,279) Other operating income, net 1,331,660 62,019 17,700 (5) 1,411,374 Operating income (69,718) (1,589,850) 4,106,687 (276) 2,446,843 Financial result, net Financial income 799,806 68,305 75,669 (150,685) 793,095 Financial expenses (1,375,333) (604,489) (261,584) 150,961 (2,090,445) Foreign exchange (loss) gain, net 53,591 (645,442) 624,842 — 32,991 ​ (521,936) (1,181,626) 438,927 276 (1,264,359) Share of profit of associates and joint ventures (28,308) 92,641 (2,368) — 61,965 Income before tax (619,962) (2,678,835) 4,543,246 — 1,244,449 Income tax (298,605) 784,339 (1,394,685) — (908,951) Net profit (loss) for the period (918,567) (1,894,496) 3,148,561 — 335,498 Net profit (loss) attributable to: Group owners of parent (847,504) (1,958,370) 2,547,158 — (258,716) Non-controlling interest (71,063) 63,874 601,403 — 594,214 ​ (918,567) (1,894,496) 3,148,561 — 335,498 Supplementary information Depreciation, depletion and amortization 3,065,448 812,470 648,606 — 4,526,524 Impairment of non-current assets (518,173) (688,914) 2,808 — (1,204,279)
Schedule of products and services	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales by product - Segments ​ ​ Six-month period ended June 30, 2021 (unaudited) ​ ​ Exploration and ​ Refining and ​ Transportation ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total National sales Mid–distillates — 6,705,637 — (12,163) 6,693,474 Gasolines and turbo fuels — 7,055,926 — (1,046,936) 6,008,990 Natural gas 1,918,512 — — (447,865) 1,470,647 Services ​ 52,504 ​ 91,731 ​ 5,626,932 ​ (4,315,963) ​ 1,455,204 Fuel gas service ​ — ​ 349,955 ​ — ​ (3,647) ​ 346,308 Plastic and rubber — 719,638 — — 719,638 Asphalts 9,692 270,159 — — 279,851 L.P.G. and propane 234,966 133,843 — (8,448) 360,361 Crude 11,302,960 — — (11,216,561) 86,399 Polyethylene — 170,346 — — 170,346 Aromatics — 121,718 — — 121,718 Fuel oil 7,728 9,405 — — 17,133 Other income - Gas contracts 1,790 — — — 1,790 Other products 7,839 1,062,422 — (851,452) 218,809 Cash flow hedging — (8) — — (8) ​ 13,535,991 16,690,772 5,626,932 (17,903,035) 17,950,660 Foreign sales ​ ​ ​ ​ ​ Crude 14,380,121 — — — 14,380,121 Diesel — 2,075,001 — — 2,075,001 Plastic and rubber — 1,010,593 — — 1,010,593 Fuel oil — 1,108,341 — — 1,108,341 Natural gas 23,828 — — — 23,828 L.P.G. and propane 27,802 — — — 27,802 Cash flow hedging (124,436) 7 — — (124,429) Other products 5,867 260,980 — — 266,847 ​ 14,313,182 4,454,922 — — 18,768,104 ​ 27,849,173 21,145,694 5,626,932 (17,903,035) 36,718,764 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales by product - Segments ​ ​ Six-month period ended June 30, 2020 (unaudited) ​ ​ Exploration and ​ Refining and ​ Transportation ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total National sales Mid-distillates — 4,544,532 — (7,073) 4,537,459 Gasolines and turbo fuels — 3,534,581 — (513,487) 3,021,094 Natural gas 1,720,897 — — (380,945) 1,339,952 Services 76,695 172,050 6,146,742 (4,937,498) 1,457,989 Fuel gas service — 330,272 — — 330,272 Plastic and rubber — 334,937 — — 334,937 Asphalts 10,498 204,562 — — 215,060 L.P.G. and propane 108,967 53,202 — (2,232) 159,937 Crude 5,649,371 — — (5,531,914) 117,457 Polyethylene — 60,708 — — 60,708 Aromatics — 74,936 — — 74,936 Fuel oil 1,784 17,435 — — 19,219 Other income – Gas contracts 28,572 — — — 28,572 Other products 11,044 273,153 — (80,387) 203,810 ​ 7,607,828 9,600,368 6,146,742 (11,453,536) 11,901,402 Foreign sales Crude 9,691,731 29 — (79,345) 9,612,415 Diesel — 1,243,219 — — 1,243,219 Plastic and rubber — 575,980 — — 575,980 Gasolines and turbo fuels — 153,680 — — 153,680 Fuel oil — 422,833 — — 422,833 Natural gas 7,742 — — — 7,742 L.P.G. and propane 6,157 — — — 6,157 Cash flow hedging (696,577) (18,592) — — (715,169) Other products 17,128 416,501 37 (12) 433,654 ​ 9,026,181 2,793,650 37 (79,357) 11,740,511 ​ 16,634,009 12,394,018 6,146,779 (11,532,893) 23,641,913

Exhibit 1 - Unaudited financi_2

Exhibit 1 - Unaudited financial information related to consolidated companies, associates and joint ventures (Tables)	6 Months Ended
	Jun. 30, 2021
Exhibit 1 - Unaudited financial information related to consolidated companies, associates and joint ventures
Disclosure of interests in subsidiaries	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) for ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ the period ​ Assets ​ Liabilities Subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Refinería de Cartagena S.A.S. U.S. Dollar 100 % Hydrocarbons refining, marketing and distribution Colombia Colombia 17,399,704 (622,240) 30,655,028 13,255,324 Cenit transporte y logística de hidrocarburos S.A.S. Colombian peso 100 % Storage and transportation through hydrocarbon pipelines Colombia Colombia 13,521,453 2,205,851 16,193,169 2,671,716 Ecopetrol Global Energy S.L.U. ​ U.S. Dollar ​ 100 % Investment vehicle ​ Spain ​ Spain ​ 11,115,882 ​ (8,661) ​ 11,115,927 ​ 45 ​ Oleoducto Central S. A. - Ocensa ​ U.S. Dollar ​ 72.65 % Pipeline transportation of crude oil ​ Colombia ​ Colombia ​ 3,239,646 ​ 1,140,462 ​ 6,530,528 ​ 3,290,882 ​ Hocol Petroleum Limited. ​ U.S. Dollar ​ 100 % Investment vehicle ​ Bermuda ​ Bermuda ​ 3,708,980 ​ 237,226 ​ 3,709,136 ​ 156 ​ Ecopetrol América LLC. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 2,641,647 104,270 3,075,155 433,508 Hocol S.A. U.S. Dollar 100 % Hydrocarbons exploration and exploitation Cayman Islands Colombia 2,885,017 238,196 4,349,170 1,464,153 Esenttia S.A. U.S. Dollar 100 % Production and commercialization of polypropylene resin Colombia Colombia 2,084,196 159,923 2,905,531 821,335 Ecopetrol Capital AG U.S. Dollar 100 % Collection of surpluses from, and providing funds to, companies of the Ecopetrol Business Group Switzerland Switzerland 2,153,211 105,098 8,311,108 6,157,897 Oleoducto Bicentenario de Colombia S.A.S. Colombian peso 55.97 % Pipeline transportation of crude oil Colombia Colombia 1,756,440 140,561 3,625,177 1,868,737 Oleoducto de Colombia S. A. – ODC Colombian peso 73 % Pipeline transportation of crude oil Colombia Colombia 431,796 187,200 585,068 153,272 Black Gold Re Ltd. U.S. Dollar 100 % Reaseguradora para compañías del Grupo Empresarial Ecopetrol Bermuda Bermuda 910,296 (4,845) 1,068,795 158,499 Andean Chemicals Ltd. U.S. Dollar 100 % Investment vehicle Bermuda Bermuda 1,452,098 79,911 1,452,672 574 Oleoducto de los Llanos Orientales S. A. - ODL Colombian peso 65 % Pipeline transportation of crude oil Panama Colombia 788,011 202,735 1,432,716 644,705 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) for ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ the period ​ Assets ​ Liabilities Inversiones de Gases de Colombia S.A. Invercolsa S.A. ​ Colombian peso ​ 51.88 ​ Holding with investments in transportation and distribution companies of natural gas and LPG in Colombia ​ Colombia ​ Colombia ​ 599,684 ​ 122,951 ​ 625,859 ​ 26,175 Alcanos de Colombia S.A. E.S.P. (3) Colombian peso 29.61 ​ Provision of the home public service of fuel gas, the construction and operation of gas pipelines, distribution networks, regulation, measurement and compression stations. Colombia Colombia 318,308 57,206 746,076 427,768 Metrogas de Colombia S.A E.S.P. (3) Colombian peso 33.49 ​ Provision of the public service of commercialization and distribution of fuel gas; the exploration, exploitation, storage, use, transportation, refining, purchase, sale and distribution of hydrocarbons and their derivatives. Colombia Colombia 56,786 8,618 114,841 58,055 Gases del Oriente S.A. E.S.P. (3) Colombian peso 48.50 ​ Provision of the home public service of fuel gas distribution and the development of all complementary activities to the provision of said service. Colombia Colombia 83,983 19,592 193,661 109,678 Promotora de Gases del Sur S.A. E.S.P. (3) ​ Colombian peso ​ 31.44 ​ Promote the linking of national or foreign capital, public or private, to achieve the gas massification project. ​ Colombia ​ Colombia ​ 48,452 ​ 12,822 ​ 74,456 ​ 26,004 Combustibles Líquidos de Colombia S.A E.S.P. (3) ​ Colombian peso ​ 41.61 ​ Wholesale commercialization of fuel gas, the provision of the home public LPG distribution service and the development of complementary activities to the provision of said service. ​ Colombia ​ Colombia ​ 55,662 ​ 574 ​ 75,392 ​ 19,730 Gasoducto de Oriente S.A (3) ​ Colombian peso ​ 31.61 ​ Design and construction of hydrocarbon production and treatment plants, construction of hydrocarbon transmission lines. ​ Colombia ​ Colombia ​ 573 ​ (13) ​ 585 ​ 12 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) for ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ the period ​ Assets ​ Liabilities ​ Ecopetrol USA Inc. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 9,135,364 159,213 9,144,503 9,139 Ecopetrol Permian LLC. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 4,699,599 76,740 5,016,981 317,382 Ecopetrol Oleo é Gas do Brasil Ltda. ​ Brazilian real ​ 100 % Hydrocarbons exploration and exploitation ​ Brazil ​ Brazil ​ 1,889,228 ​ (49,359) ​ 1,932,152 ​ 42,924 Esenttia Masterbatch Ltda. ​ Colombian peso ​ 100 % Manufacture of polypropylene compounds and masterbatches ​ Colombia ​ Colombia ​ 266,101 ​ 110,500 ​ 483,316 ​ 217,215 Ecopetrol del Perú S. A. ​ U.S. Dollar ​ 100 % Hydrocarbons exploration and exploitation ​ Peru ​ Peru ​ 57,575 ​ (303) ​ 60,018 ​ 2,443 ECP Hidrocarburos de México S.A. de C.V. ​ U.S. Dollar ​ 100 % Offshore exploration ​ Mexico ​ Mexico ​ 33,658 ​ (117,673) ​ 52,569 ​ 18,911 Ecopetrol Costa Afuera S.A.S. Colombian peso 100 % Offshore exploration Colombia Colombia 12,307 (1,049) 32,412 20,105 Ecopetrol Energía S.A.S E.S.P. Colombian peso 100 % Energy supply service Colombia Colombia 16,249 3,588 108,339 92,090 Esenttia Resinas del Perú SAC U.S. Dollar 100 % Commercialization polypropylene resins and masterbatches Peru Peru 10,521 3,531 77,202 66,681 Topili Servicios Administrativos S de RL De CV. Mexican peso 100 % Specialized management services Mexico Mexico 57 (17) 59 2 Kalixpan Servicios Técnicos S de RL De CV. Mexican peso 100 % Specialized services related to oil and gas industry Mexico Mexico 62 (16) 64 2 ​
Disclosure of interests in associates and joint ventures	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ Geographic area ​ ​ ​ Profit (loss) ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ of operations ​ Net equity ​ for the period ​ Assets ​ Liabilities Associates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Serviport S.A. (2) Colombian peso 49 % Services to support the loading and unloading of oil trucks, supply of equipment for the same purpose, technical inspections and load measurements Colombia Colombia 17,430 568 45,457 28,027 Sociedad Portuaria Olefinas y Derivados S.A. (1) Colombian peso 50 % Construction, use, maintenance, adaptation and administration of port facilities, ports, private docks or service to the general public Colombia Colombia 5,297 192 7,943 2,646 Joint ventures Equion Energía Limited U.S. Dollar 51 % Hydrocarbons exploration and exploitation United Kingdom Colombia 2,767,907 25,726 2,866,038 98,131 Ecodiesel Colombia S.A. (1) Colombian peso 50 % Production, commercialization and distribution of biofuels and oleochemicals Colombia Colombia 96,507 23,162 182,658 86,151 ​ (1) Information available as of May 31, 2021 . (2) Information available as of September 30, 2020, the investment is totally impaired. (3) Indirect participation through Inversiones de Gases de Colombia S.A. - Invercolsa S.A.

Reporting entity (Details)

Reporting entity (Details)	Jun. 30, 2021
Reporting entity
Proportion of shares available for public trade	11.51%
Proportion of shares held by majority share holders	88.49%

Basis of presentation (Details)

Basis of presentation (Details)	Jun. 30, 2021	Jun. 30, 2020
Brent
Basis for presentation
Average price	65.2	42.1

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Cash and cash equivalents.
Banks and corporations	$ 4,749,147	$ 4,215,518
Short-term investments	272,141	866,606
Cash	256	184
Cash and cash equivalents	$ 5,021,544	$ 5,082,308	$ 9,247,947	$ 7,075,758

Cash and cash equivalents - Add

Cash and cash equivalents - Additional Information (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Cash and cash equivalents.
Restricted cash	$ 71,095	$ 13,679

Trade and other receivables, _3

Trade and other receivables, net (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Customers
Foreign	$ 2,987,223	$ 2,021,070
Domestic	2,236,968	1,913,106
Fuel price stabilization fund	3,785,873	319,927
Employee loans	91,738	97,723
Industrial services	41,007	39,651
Related parties	28,332	105,048
Others	368,495	322,567
Total current	9,539,636	4,819,092
Non-current
Employee loans	461,709	474,693
Domestic customers	55,479	51,955
Others	221,115	149,959
Total non-current	$ 738,303	$ 676,607

Inventories (Details)

Inventories (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Inventories
Crude	$ 2,646,261	$ 1,719,426
Fuels and petrochemicals	2,357,105	1,407,297
Materials for goods production	2,173,980	1,927,237
Inventories, net	$ 7,177,346	$ 5,053,960

Other financial assets (Details

Other financial assets (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets measured at fair value through profit or loss
Other financial assets	$ 1,398,708	$ 3,071,659
Current	206,284	2,194,651
Non-current	1,192,424	877,008
Financial assets at fair value, class [member]
Assets measured at fair value through profit or loss
Other financial assets	1,395,120	3,068,268
Hedging instruments [Member]
Assets measured at fair value through profit or loss
Other financial assets	11,460	98,877
Assets measured at fair value through other comprehensive income [Member]
Assets measured at fair value through profit or loss
Other financial assets	1,182	732
Assets measured at amortized cost [Member]
Assets measured at fair value through profit or loss
Other financial assets	3,588	3,391
Local currency
Assets measured at fair value through profit or loss
Financial assets at fair value through profit or loss	468,725	474,535
Foreign currency
Assets measured at fair value through profit or loss
Financial assets at fair value through profit or loss	$ 913,753	$ 2,494,124

Other financial assets - Other

Other financial assets - Other financial assets by fair value hierarchy level (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Disclosure of Other financial assets [Line Items]
Financial assets, at fair value	$ 1,395,120	$ 3,068,268
Level 1
Disclosure of Other financial assets [Line Items]
Financial assets, at fair value	120,893	5,273
Level 2
Disclosure of Other financial assets [Line Items]
Financial assets, at fair value	$ 1,274,227	$ 3,062,995

Taxes - Current and Non-current

Taxes - Current and Non-current tax assets and liabilities (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Tax assets
Current tax assets	$ 5,564,971	$ 3,976,295
Non-current tax assets	8,573,600	8,071,733
Tax liabilities
Current tax liabilities	700,785	1,243,883
Non current tax liabilities	2,037,091	1,866,054
Income tax payable [Member]
Tax liabilities
Current tax liabilities	246,794	811,197
Industry and commerce Tax [Member]
Tax liabilities
Current tax liabilities	123,536	161,813
National tax and surcharge on gasoline [Member]
Tax liabilities
Current tax liabilities	142,535	137,710
Carbon tax [Member]
Tax liabilities
Current tax liabilities	45,233	64,091
Value added tax [Member]
Tax liabilities
Current tax liabilities	53,411	5,607
Other taxes [Member]
Tax liabilities
Current tax liabilities	89,276	63,465
Deferred tax liabilities [member]
Tax liabilities
Non current tax liabilities	1,784,493	1,639,206
Income Tax credits [Member]
Tax liabilities
Non current tax liabilities	252,598	226,848
Deferred tax assets [Member]
Tax assets
Non-current tax assets	8,162,781	7,673,912
Income tax credits [Member]
Tax assets
Non-current tax assets	410,819	397,821
Income tax [member]
Tax assets
Current tax assets	2,351,296	1,823,027
Credit tax balance [Member]
Tax assets
Current tax assets	2,135,113	1,311,693
Other taxes [Member]
Tax assets
Current tax assets	$ 1,078,562	$ 841,575

Taxes - Income tax expense (Det

Taxes - Income tax expense (Details) - COP ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Taxes
Current income tax	$ 2,746,903	$ 1,741,312
Deferred income tax	913,455	(801,302)
Adjustments to prior years' current and deferred tax	(18,999)	(31,059)
Income tax expense	$ 3,641,359	$ 908,951

Taxes - Deferred income tax (De

Taxes - Deferred income tax (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Taxes
Deferred tax assets	$ 8,162,781	$ 7,673,912
Deferred tax liabilities	(1,784,493)	(1,639,206)
Net deferred income tax	$ 6,378,288	$ 6,034,706

Taxes - Deferred tax assets and

Taxes - Deferred tax assets and liabilities (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	$ 6,378,288	$ 6,034,706	$ 5,480,516
Loss carry forwards [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	3,541,693	4,478,606
Provisions [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	3,217,136	3,187,850
Employee benefits [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	2,038,462	1,874,242
Accounts payable [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	25,084	(10,626)
Loans and borrowings
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	1,983,432	846,019
Accounts receivable [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	126,954	183,843
Excess presumptive income
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	0	61,722
Others [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	(17,844)	47,269
Goodwill [member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	(366,346)	(366,346)
Property, plant and equipment and Natural and environmental resources [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	$ (4,170,283)	$ (4,267,873)

Taxes - Deferred tax detail rec

Taxes - Deferred tax detail recognized (Details) - COP ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Taxes
Opening balance	$ 6,034,706	$ 5,480,516
Deferred tax recognized in profit or loss	(929,331)	928,517
Increase due to business combinations	0	(383,346)
Deferred tax recognized in other comprehensive income (a)	1,084,030	89,526
Foreign currency translation	188,883	(80,507)
Closing balance	$ 6,378,288	$ 6,034,706

Taxes - Income tax recorded in

Taxes - Income tax recorded in other comprehensive income (Details) - COP ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Disclosure of detailed information about income tax [Line Items]
Pre-tax	$ 3,609,540	$ 303,298
Deferred tax	(1,084,030)	(89,526)
After tax	2,525,510	213,772
Cash flow hedging for future crude oil exports [member]
Disclosure of detailed information about income tax [Line Items]
Pre-tax	315,515	(1,186)
Deferred tax	(95,480)	1,908
After tax	220,035	722
Hedge of a net investment in a foreign operation
Disclosure of detailed information about income tax [Line Items]
Pre-tax	2,639,256	520,490
Deferred tax	(791,777)	(156,147)
After tax	1,847,479	364,343
Hedge with derivative instruments
Disclosure of detailed information about income tax [Line Items]
Pre-tax	143,496	(78,547)
Deferred tax	(43,391)	23,475
After tax	100,105	(55,072)
Actuarial valuation gains (losses) [member]
Disclosure of detailed information about income tax [Line Items]
Pre-tax	511,273	(137,459)
Deferred tax	(153,382)	41,238
After tax	$ 357,891	$ (96,221)

Taxes - Additional Information

Taxes - Additional Information (Details) - COP ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disclosure of detailed information about income tax [Line Items]
Percentage of tax discount in the industry and commerce tax	50.00%		50.00%
Description of tax losses carry forward	Tax losses generated as of January 1, 2017, may be offset by the liquid income generated in the following 12 years.
Effective tax rate	33.80%	(73.00%)
Variation rate	(39.20%)
Limitations Covering Tax Return With Favourable Balance Period	3 years
Description of Change in Limitation Period upon Compliance of Given Condition	Returns filed by taxpayers that have made transactions, subject to the transfer pricing regulations, have a five-year statute of limitations, for the tax returns that are filed as of January 1, 2020.
Description of statute of limitations for tax return in which tax losses are originated or carried forward	For tax returns in which tax losses are carried forward, the statute of limitations will be 6 years (5 years from 2020) counted as of their filing date.
Description of Extending the Limitation upon the Compliance of Given Conditions	With respect to tax returns where tax losses are calculated, the statute of limitations will be 12 years and if the losses are carried forward within the last 2 years of the 12–year period, the statute of limitations will be extended up to 3 additional years from the year of offsetting.
Percentage of gains	10.00%
Deferred tax asset for tax losses	$ 3,541,693
Base temporary difference	827,710
Tax, temporary difference	$ 82,771
2020 [Member]
Disclosure of detailed information about income tax [Line Items]
Presumptive income tax			0.50%
2021 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate	31.00%
Presumptive income tax	0.00%
2022 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate	30.00%
Refinera de Cartagena
Disclosure of detailed information about income tax [Line Items]
Deferred tax asset for tax losses	$ 1,734,569
Andean Chemicals Ltd. [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax asset for tax losses	1,852
Andean Chemicals Ltd. [Member] | Excess presumptive income
Disclosure of detailed information about income tax [Line Items]
Deferred tax asset for tax losses	4,332
Ecopetrol USA
Disclosure of detailed information about income tax [Line Items]
Deferred tax asset for tax losses	1,793,913
Invercolsa
Disclosure of detailed information about income tax [Line Items]
Deferred tax asset for tax losses	13,211
Hocol petroleum limited | Excess presumptive income
Disclosure of detailed information about income tax [Line Items]
Deferred tax asset for tax losses	12,077
Refinera de Cartagena S.A.S [Member] | Excess presumptive income
Disclosure of detailed information about income tax [Line Items]
Deferred tax asset for tax losses	$ 227,680
Ecopetrol Group
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate	31.00%
Bottom of range [member]
Disclosure of detailed information about income tax [Line Items]
Tariff Percentage	30.00%
Top of range [member]
Disclosure of detailed information about income tax [Line Items]
Tariff Percentage	31.00%
Free Trade Zone Area [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate	20.00%
Free Trade Zone Area [Member] | Ecopetrol Group
Disclosure of detailed information about income tax [Line Items]
Presumptive income, percentage on beginning equity	15.00%
Free trade zone with legal stability contract [Member] | Ecopetrol Group
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate	15.00%

Other assets (Details)

Other assets (Details) - COP ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Current
Partners in joint operations	[1]	$ 638,313	$ 534,145
Advanced payments to contractors and suppliers		509,706	503,698
Prepaid expenses		244,957	369,979
Trust funds	[2]	281,424	218,158
Related parties		2,469	7,093
Other assets		30,414	30,963
Total current		1,707,283	1,664,036
Non-current
Abandonment and pension funds	[3]	410,586	405,376
Trust funds	[2]	373,494	338,067
Employee benefits	[4]	232,387	221,658
Advanced payments and deposits		54,101	54,392
Judicial deposits and attachments		39,818	42,672
Other assets		22,355	27,949
Total non-current		$ 1,132,741	$ 1,090,114
[1]	Corresponds to the net value of cash calls and cutbacks generated in relation to the operations carried out with partners through Exploration and Production (E&P) contracts, Technical Evaluations (TEA) contracts and agreements entered in to with the National Hydrocarbons Agency of Colombia (ANH), as well as through association contracts and other types of contracts.
[2]	It mainly includes the resources invested in a trust destined to taxes paid through social and infrastructure projects, payment mechanism for 2019- and 2020-income tax, constituted in compliance with article 238 of Law 1819 of 2016 - Tax Reform.
[3]	Corresponds to Ecopetrol’s share in trusts established to support costs of abandonment of wells and dismantling of facilities as well as the payment of future retirement pensions in some association contracts.
[4]	Corresponds to the benefit of lower interest rates on employee loans, granted by Ecopetrol .

Investments in associates and_3

Investments in associates and joint ventures - Composition and movements (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Investments in joint ventures
Investments in joint ventures	$ 1,513,861	$ 1,383,379
Investments in associates
Investments in associates	1,797,755	1,791,249
Investments in joint ventures and associates	3,311,616	3,174,628	$ 3,245,072
Gross carrying amount [member]
Investments in joint ventures
Investments in joint ventures	1,828,321	2,307,665
Investments in associates
Investments in associates	1,806,296	1,799,790
Gases del Caribe S.A. E.S.P. [member] | Gross carrying amount [member]
Investments in associates
Investments in associates	1,524,380	1,512,629
Gas Natural del Oriente S.A. E.S.P. | Gross carrying amount [member]
Investments in associates
Investments in associates	139,502	143,893
Gases de la Guajira S.A. E.S.P. | Gross carrying amount [member]
Investments in associates
Investments in associates	69,748	69,518
Extrucol S.A. | Gross carrying amount [member]
Investments in associates
Investments in associates	26,076	26,996
E2 Energia Eficiente S.A. E.S.P. | Gross carrying amount [member]
Investments in associates
Investments in associates	34,761	35,614
Serviport S.A | Gross carrying amount [member]
Investments in associates
Investments in associates	8,541	8,541
Serviport S.A | Accumulated impairment [member]
Investments in associates
Investments in associates	(8,541)	(8,541)
Sociedad Portuaria Olefinas y Derivados | Gross carrying amount [member]
Investments in associates
Investments in associates	3,288	2,599
Equion Energia Limited | Gross carrying amount [member]
Investments in joint ventures
Investments in joint ventures	1,780,068	1,642,735
Equion Energia Limited | Accumulated impairment [member]
Investments in joint ventures
Investments in joint ventures	(314,460)	(314,460)
Offshore International Group | Gross carrying amount [member]
Investments in joint ventures
Investments in joint ventures		613,258
Offshore International Group | Accumulated impairment [member]
Investments in joint ventures
Investments in joint ventures		(609,826)
Ecodiesel Colombia S.A | Gross carrying amount [member]
Investments in joint ventures
Investments in joint ventures	$ 48,253	$ 51,672

Investments in associates and_4

Investments in associates and joint ventures - Movement of investments in associates and joint ventures (Details) - COP ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disclosure of Investments in associates and joint ventures [Line Items]
Opening balance	$ 3,174,628	$ 3,245,072	$ 3,245,072
Profit or loss	115,236	61,965	76,336
Share of other comprehensive income	124,532		(2,923)
Dividends declared	(99,299)		(157,682)
Impairment reversal (loss)			(66,512)
Transfers	(3,481)
Foreign currency translation			80,337
Closing balance	3,311,616		3,174,628
Joint ventures
Disclosure of Investments in associates and joint ventures [Line Items]
Opening balance	1,383,379	1,418,315	1,418,315
Profit or loss	24,919		(38,443)
Share of other comprehensive income	124,044
Dividends declared	(15,000)		(9,017)
Impairment reversal (loss)			(69,041)
Transfers	(3,481)
Foreign currency translation			81,565
Closing balance	1,513,861		1,383,379
Associates
Disclosure of Investments in associates and joint ventures [Line Items]
Opening balance	1,791,249	$ 1,826,757	1,826,757
Profit or loss	90,317		114,779
Share of other comprehensive income	488		(2,923)
Dividends declared	(84,299)		(148,665)
Impairment reversal (loss)			2,529
Transfers	0
Foreign currency translation			(1,228)
Closing balance	$ 1,797,755		$ 1,791,249

Investments in associates and_5

Investments in associates and joint ventures - Reconciliation of equity (Details) - COP ($) $ in Millions	Jan. 19, 2021	Jun. 30, 2021	Jun. 30, 2020
Disclosure of Investments in associates and joint ventures [Line Items]
Other Comprehensive Income, Net of Tax, Sale of Joint Ventures		$ (361,728)	$ 0
Offshore International Group | Sale of stake in Offshore International Group
Disclosure of Investments in associates and joint ventures [Line Items]
Sale of ownership interests	50.00%
Proceeds from disposal of oil and gas assets	$ 4,923
Other Comprehensive Income, Net of Tax, Sale of Joint Ventures	$ 361,728

Property, plant and equipment_2

Property, plant and equipment (Details) - COP ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	$ 66,508,338
Disposals	(28,091)	$ (17,810)
Ending Balance	69,380,093
Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	110,962,459
Additions/capitalizations	2,257,841
Decrease in abandonment cost (Note 20)	(22,521)
Capitalized financial interests	66,980
Exchange differences capitalized	2,013
Disposals	(177,549)
Foreign currency translation	4,277,575
Reclassifications/transfers	(222,719)
Ending Balance	117,144,079
Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	(44,454,121)
Depreciation expense	(2,145,370)
(Impairment) Recovery	3,450
Disposals	156,211
Foreign currency translation	(1,485,297)
Reclassifications/transfers	161,141
Ending Balance	(47,763,986)
Plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	29,831,912
Ending Balance	31,265,354
Plant and equipment [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	51,088,781
Additions/capitalizations	753,624
Decrease in abandonment cost (Note 20)	0
Capitalized financial interests	31,761
Exchange differences capitalized	954
Disposals	(130,961)
Foreign currency translation	2,845,316
Reclassifications/transfers	(229,938)
Ending Balance	54,359,537
Plant and equipment [member] | Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	(21,256,869)
Depreciation expense	(1,159,638)
(Impairment) Recovery	3,432
Disposals	124,202
Foreign currency translation	(975,677)
Reclassifications/transfers	170,367
Ending Balance	(23,094,183)
Pipelines, networks and lines [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	19,583,670
Ending Balance	19,857,023
Pipelines, networks and lines [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	37,141,694
Additions/capitalizations	429,434
Decrease in abandonment cost (Note 20)	(22,521)
Capitalized financial interests	14,117
Exchange differences capitalized	424
Disposals	(12,809)
Foreign currency translation	1,015,583
Reclassifications/transfers	43,931
Ending Balance	38,609,853
Pipelines, networks and lines [member] | Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	(17,558,024)
Depreciation expense	(748,567)
(Impairment) Recovery	0
Disposals	3,577
Foreign currency translation	(432,119)
Reclassifications/transfers	(17,697)
Ending Balance	(18,752,830)
Work in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	6,490,772
Ending Balance	7,501,846
Work in progress [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	7,514,228
Additions/capitalizations	902,157
Decrease in abandonment cost (Note 20)	0
Capitalized financial interests	13,558
Exchange differences capitalized	407
Disposals	(33)
Foreign currency translation	79,730
Reclassifications/transfers	(3,940)
Ending Balance	8,506,107
Work in progress [member] | Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	(1,023,456)
Depreciation expense	0
(Impairment) Recovery	0
Disposals	0
Foreign currency translation	(932)
Reclassifications/transfers	20,127
Ending Balance	(1,004,261)
Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	4,783,745
Ending Balance	4,755,283
Buildings [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	8,412,469
Additions/capitalizations	66,392
Decrease in abandonment cost (Note 20)	0
Capitalized financial interests	2,014
Exchange differences capitalized	61
Disposals	(8,821)
Foreign currency translation	124,088
Reclassifications/transfers	14,203
Ending Balance	8,610,406
Buildings [member] | Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	(3,628,724)
Depreciation expense	(183,338)
(Impairment) Recovery	18
Disposals	5,451
Foreign currency translation	(40,976)
Reclassifications/transfers	(7,554)
Ending Balance	(3,855,123)
Lands [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	4,034,278
Ending Balance	4,181,117
Lands [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	4,112,826
Additions/capitalizations	1,649
Decrease in abandonment cost (Note 20)	0
Capitalized financial interests	88
Exchange differences capitalized	3
Disposals	(246)
Foreign currency translation	148,475
Reclassifications/transfers	0
Ending Balance	4,262,795
Lands [member] | Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	(78,548)
Depreciation expense	0
(Impairment) Recovery	0
Disposals	0
Foreign currency translation	(3,130)
Reclassifications/transfers	0
Ending Balance	(81,678)
Other [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	1,783,961
Ending Balance	1,819,470
Other [member] | Gross carrying amount [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	2,692,461
Additions/capitalizations	104,585
Decrease in abandonment cost (Note 20)	0
Capitalized financial interests	5,442
Exchange differences capitalized	164
Disposals	(24,679)
Foreign currency translation	64,383
Reclassifications/transfers	(46,975)
Ending Balance	2,795,381
Other [member] | Accumulated amortization
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	(908,500)
Depreciation expense	(53,827)
(Impairment) Recovery	0
Disposals	22,981
Foreign currency translation	(32,463)
Reclassifications/transfers	(4,102)
Ending Balance	$ (975,911)

Natural and environmental res_3

Natural and environmental resources (Details) - COP ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Disclosure of Natural and environmental resources [Line Items]
Net balance	$ 33,235,969	$ 31,934,159
Gross carrying amount [member] | Oil and gas investments [Member]
Disclosure of Natural and environmental resources [Line Items]
Balance	65,367,278
Additions/capitalizations (1)	1,320,790
Decrease in abandonment costs (Note 20)	0
Disposals	(2,910)
Disposals of exploratory assets and dry wells	0
Capitalized financial interests	41,235
Exchange differences capitalized	1,239
Foreign currency translation	1,104,483
Reclassifications/transfers	209,981
Balance	68,042,096
Gross carrying amount [member] | Asset retirement cost [Member]
Disclosure of Natural and environmental resources [Line Items]
Balance	7,231,851
Additions/capitalizations (1)	268,342
Decrease in abandonment costs (Note 20)	(36,272)
Disposals	0
Disposals of exploratory assets and dry wells	0
Capitalized financial interests	0
Exchange differences capitalized	0
Foreign currency translation	54,156
Reclassifications/transfers	1,309
Balance	7,519,386
Gross carrying amount [member] | Exploration and evaluation [member]
Disclosure of Natural and environmental resources [Line Items]
Balance	8,867,894
Additions/capitalizations (1)	1,277,658
Decrease in abandonment costs (Note 20)	0
Disposals	(4,924)
Disposals of exploratory assets and dry wells	170,204
Capitalized financial interests	14,436
Exchange differences capitalized	434
Foreign currency translation	580,513
Reclassifications/transfers	11,865
Balance	10,577,672
Accumulated amortization | Oil and gas investments [Member]
Disclosure of Natural and environmental resources [Line Items]
Balance	(46,106,147)
Disposals	325
Amortization expense	(1,675,973)
Foreign currency translation	788,135
Reclassifications/transfers	(256,321)
Balance	(48,826,251)
Accumulated amortization | Asset retirement cost [Member]
Disclosure of Natural and environmental resources [Line Items]
Balance	(2,981,449)
Disposals	0
Amortization expense	(735,839)
Foreign currency translation	23,432
Reclassifications/transfers	0
Balance	(3,740,720)
Accumulated amortization | Exploration and evaluation [member]
Disclosure of Natural and environmental resources [Line Items]
Balance	(445,268)
Disposals	0
Amortization expense	0
Foreign currency translation	0
Reclassifications/transfers	109,054
Balance	(336,214)
Natural and environmental resources [Member]
Disclosure of Natural and environmental resources [Line Items]
Net balance	33,235,969	31,934,159
Natural and environmental resources [Member] | Oil and gas investments [Member]
Disclosure of Natural and environmental resources [Line Items]
Net balance	19,215,845	19,261,131
Natural and environmental resources [Member] | Asset retirement cost [Member]
Disclosure of Natural and environmental resources [Line Items]
Net balance	3,778,666	4,250,402
Natural and environmental resources [Member] | Exploration and evaluation [member]
Disclosure of Natural and environmental resources [Line Items]
Net balance	10,241,458	$ 8,422,626
Natural and environmental resources [Member] | Gross carrying amount [member]
Disclosure of Natural and environmental resources [Line Items]
Balance	81,467,023
Additions/capitalizations (1)	2,866,790
Decrease in abandonment costs (Note 20)	(36,272)
Disposals	(7,834)
Disposals of exploratory assets and dry wells	170,204
Capitalized financial interests	55,671
Exchange differences capitalized	1,673
Foreign currency translation	1,739,152
Reclassifications/transfers	223,155
Balance	86,139,154
Natural and environmental resources [Member] | Accumulated amortization
Disclosure of Natural and environmental resources [Line Items]
Balance	(49,532,864)
Disposals	325
Amortization expense	(2,411,812)
Foreign currency translation	811,567
Reclassifications/transfers	(147,267)
Balance	$ (52,903,185)

Natural and environmental res_4

Natural and environmental resources - Additional Information (Details) - Natural and environmental resources [Member] $ in Millions	6 Months Ended
	Jun. 30, 2021COP ($)
Ecopetrol Permian
Disclosure of Natural and environmental resources [Line Items]
Additions/capitalizations (1)	$ 1,108,482
Ecopetrol S.A.
Disclosure of Natural and environmental resources [Line Items]
Additions/capitalizations (1)	1,478,731
Ecopetrol S.A. | Aguas Blancas, Alqamari-1 and Nafta-1 wells
Disclosure of Natural and environmental resources [Line Items]
Disposals of exploratory assets and dry wells	29,650
Hocol
Disclosure of Natural and environmental resources [Line Items]
Additions/capitalizations (1)	188,752
Disposals of exploratory assets and dry wells	28,335
Ecopetrol Mexico
Disclosure of Natural and environmental resources [Line Items]
Disposals of exploratory assets and dry wells	97,412
Ecopetrol America | Hocol Chacha 2 well
Disclosure of Natural and environmental resources [Line Items]
Disposals of exploratory assets and dry wells	10,864
Ecopetrol America | Silverback # 1 well
Disclosure of Natural and environmental resources [Line Items]
Disposals of exploratory assets and dry wells	$ 4,275

Right-of-use assets (Details)

Right-of-use assets (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021COP ($)
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	$ 377,886
Balance at the end	352,639
Lease liabilities
Lease Liabilities Rollforward [Abstract]
Balance at the beginning	1,055,198
Additions	11,264
Remeasurements	43,851
Disposals	(5,085)
Finance cost	27,621
Payment of capital and interests	(150,191)
Exchange difference	35,087
Balance at the end	1,017,745
Lands and buildings
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	93,472
Additions	9,347
Amortization expense	(15,535)
Remeasurements	$ 2,234
Disposals	(208)
Exchange difference	$ 5,778
Balance at the end	95,088
Plant and equipment
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	133,939
Additions	1,135
Amortization expense	(30,305)
Remeasurements	34,978
Exchange difference	1,933
Balance at the end	141,680
Vehicles
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	150,475
Additions	782
Amortization expense	(42,278)
Remeasurements	5,400
Exchange difference	1,492
Balance at the end	115,871
Right-of-use assets
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	377,886
Additions	11,264
Amortization expense	(88,118)
Remeasurements	$ 42,612
Disposals	(208)
Exchange difference	$ 9,203
Balance at the end	$ 352,639

Impairment of non-current ass_2

Impairment of non-current assets - Additional Information (Details) $ in Millions	Jun. 30, 2021COP ($)
Refineria de Cartagena S.A.S. and Cenit [Member]
Disclosure Of Impairment Non-Current Assets (Line Items)
Recoverable amount of asset or cash-generating unit	$ 3,446

Impairment of non-current ass_3

Impairment of non-current assets (Details) $ in Millions	Jun. 30, 2020COP ($)	Mar. 31, 2020BarrelOfButane	Dec. 31, 2019BarrelOfButane
Disclosure Of Impairment Non-Current Assets (Line Items)
Oil price | BarrelOfButane		55.61	40
Impairment of Property, Plant and equipment [Member]
Disclosure Of Impairment Non-Current Assets (Line Items)
Impairment charge	$ 655,087
Natural and environmental resources [Member]
Disclosure Of Impairment Non-Current Assets (Line Items)
Impairment charge	495,656
Investment in associates and joint ventures [Member]
Disclosure Of Impairment Non-Current Assets (Line Items)
Impairment charge	53,249
Others non-current assets [Member]
Disclosure Of Impairment Non-Current Assets (Line Items)
Impairment charge	$ 287
Impairment by segment [Member] | Exploration and Production [Member]
Disclosure Of Impairment Non-Current Assets (Line Items)
Discount rate used in current estimate of value in use		5.47%
Impairment by segment [Member] | Investment in associates and joint ventures [Member]
Disclosure Of Impairment Non-Current Assets (Line Items)
Discount rate used in current estimate of value in use		7.21%

Loans and borrowings (Details)

Loans and borrowings (Details) - COP ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 50,060,470	$ 46,731,754
Current		5,323,448	4,923,346
Non-current		44,737,022	41,808,408
Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 2,938,797	$ 3,044,437
Local currency | Bonds [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		8.40%	6.40%
Borrowings		$ 1,085,068	$ 1,084,461
Local currency | Syndicated Loan [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		5.90%	5.60%
Borrowings		$ 706,173	$ 811,079
Local currency | Lease liabilities
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	[1]	6.30%	6.60%
Borrowings	[1]	$ 795,630	$ 836,489
Local currency | Commercial Loans and Others [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		3.80%	6.30%
Borrowings		$ 351,926	$ 312,408
Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 47,121,673	$ 43,687,317
Foreign currency | Bonds [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	[2]	6.00%	6.00%
Borrowings	[2]	$ 37,083,467	$ 33,944,548
Foreign currency | Lease liabilities
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	[1]	6.10%	6.10%
Borrowings	[1]	$ 222,115	$ 218,709
Foreign currency | Commercial loans [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		3.50%	3.60%
Borrowings		$ 8,422,931	$ 8,247,014
Foreign currency | Loans From Related Parties [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 1,393,160	$ 1,277,046
[1]	Corresponds to the present value of the payments to be made during the term of the operating leases of pipelines, tanks, real estate and vehicles, recognized as a result of the adoption of IFRS 16 – Leases. See Note 15.
[2]	The movement corresponds mainly to the exchange rate and the recognition of the amortized cost of the financial instrument.

Loans and borrowings - Maturity

Loans and borrowings - Maturity of loans and borrowings (Details) $ in Millions	Jun. 30, 2021COP ($)
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 50,060,470
Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	2,938,797
Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	47,121,673
2021
Disclosure of detailed information about borrowings [line items]
Borrowings	5,323,448
2021 | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	587,645
2021 | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	4,735,803
1 to 5 years
Disclosure of detailed information about borrowings [line items]
Borrowings	28,859,357
1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,492,789
1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	27,366,568
5 to 10 years
Disclosure of detailed information about borrowings [line items]
Borrowings	9,886,289
5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	586,408
5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	9,299,881
>10 years
Disclosure of detailed information about borrowings [line items]
Borrowings	5,991,376
>10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	271,955
>10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	5,719,421
Bonds [Member] | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,085,068
Bonds [Member] | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	37,083,467
Bonds [Member] | 2021 | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	83,953
Bonds [Member] | 2021 | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	2,080,731
Bonds [Member] | 1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	393,012
Bonds [Member] | 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	20,340,676
Bonds [Member] | 5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	362,357
Bonds [Member] | 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	8,942,639
Bonds [Member] | >10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	245,746
Bonds [Member] | >10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	5,719,421
Syndicated loans [Member] | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	706,173
Syndicated loans [Member] | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	5,927,078
Syndicated loans [Member] | 2021 | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	239,018
Syndicated loans [Member] | 2021 | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,159,535
Syndicated loans [Member] | 1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	467,155
Syndicated loans [Member] | 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	4,410,301
Syndicated loans [Member] | 5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Syndicated loans [Member] | 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	357,242
Syndicated loans [Member] | >10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Syndicated loans [Member] | >10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Commercial loans [Member] | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	2,495,853
Commercial loans [Member] | 2021 | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	35,856
Commercial loans [Member] | 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	2,459,997
Commercial loans [Member] | 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Commercial loans [Member] | >10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Commercial Loans and Others [Member] | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	351,926
Commercial Loans and Others [Member] | 2021 | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	100,226
Commercial Loans and Others [Member] | 1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	251,700
Commercial Loans and Others [Member] | 5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Commercial Loans and Others [Member] | >10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Loans From Related Parties [Member] | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,393,160
Loans From Related Parties [Member] | 2021 | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,393,160
Loans From Related Parties [Member] | 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Loans From Related Parties [Member] | 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Loans From Related Parties [Member] | >10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Lease liabilities | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	795,630
Lease liabilities | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	222,115
Lease liabilities | 2021 | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	164,448
Lease liabilities | 2021 | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	66,521
Lease liabilities | 1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	380,922
Lease liabilities | 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	155,594
Lease liabilities | 5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	224,051
Lease liabilities | 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Lease liabilities | >10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	26,209
Lease liabilities | >10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 0

Loans and borrowings - Addition

Loans and borrowings - Additional Information (Details) $ in Millions, $ in Millions	Aug. 27, 2021	Jul. 30, 2021	Jun. 30, 2021COP ($)	Dec. 31, 2020COP ($)	Jun. 30, 2021USD ($)	Jun. 08, 2016USD ($)
Disclosure of detailed information about borrowings [line items]
Financial instruments designated as hedging instruments, at fair value					$ 8,315	$ 5,200
Ifrs Debt Instrument, Term	5 years	3 years
Fair value of loans and borrowings			$ 53,406,293	$ 52,721,790
Cash flow hedging for future crude oil exports [member]
Disclosure of detailed information about borrowings [line items]
Financial instruments designated as hedging instruments, at fair value					1,300
Local Borrowings [Member]
Disclosure of detailed information about borrowings [line items]
Financial instruments designated as hedging instruments, at fair value					9,615
Local Borrowings [Member] | Hedge of a net investment in a foreign operation
Disclosure of detailed information about borrowings [line items]
Financial instruments designated as hedging instruments, at fair value					$ 8,315

Trade and other payables (Detai

Trade and other payables (Details) - COP ($) $ in Millions		Jun. 30, 2021	Dec. 31, 2020
Current
Suppliers		$ 7,207,899	$ 6,491,909
Partners' advances		967,790	497,898
Withholding tax		483,709	462,429
Dividends payable (1)	[1]	356,344	223,571
Insurance and reinsurance		157,258	240,803
Deposits received from third parties		67,819	84,436
Related parties (Note 28)		56,868	72,316
Hedging operations (2)	[2]	47,203	6,405
Agreements in transport contracts		29,802	37,941
Various creditors		385,401	331,333
Current		9,760,093	8,449,041
Non-current
Deposits received from third parties		527	1,109
Various creditors		15,809	19,955
Non-current		$ 16,336	$ 21,064
[1]	Corresponds to dividends declared by Oleoducto de los Llanos Orientales S.A. COP$ 73,587 , Oleoducto Bicentenario de Colombia S.A.S COP$ 212,724 , Oleoducto Central S.A. COP$ 34,502 , Inversiones de Gases de Colombia S.A. COP$ 31,816 and Ecopetrol S.A. COP$ 3,716 and payable to third parties.
[2]	Corresponds to the payable account for the settlement of swap contracts acquired to hedge the risk of crude export prices.

Trade and other payables - Addi

Trade and other payables - Additional information (Details) $ in Millions	Jun. 30, 2021COP ($)
Oleoducto de los Llanos Orientales S.A
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable (1)	$ 73,587
Oleoducto Bicentenario de Colombia S.A.S
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable (1)	212,724
Oleoducto Central S.A.
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable (1)	34,502
Inversiones de Gases de Colombia S.A.
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable (1)	31,816
Ecopetrol S.A.
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable (1)	$ 3,716

Provisions for employee benef_3

Provisions for employee benefits (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Post-employment benefits
Post-employment benefits	$ 12,936,533	$ 12,423,667
Current	1,926,005	2,022,137
Non-current	11,010,528	10,401,530
Healthcare [Member]
Post-employment benefits
Post-employment benefits	7,285,586	7,193,527
Pension [Member]
Post-employment benefits
Post-employment benefits	3,372,901	2,819,985
Education and severance [Member]
Post-employment benefits
Post-employment benefits	475,615	485,792
Bonds [Member]
Post-employment benefits
Post-employment benefits	386,713	342,669
Others [Member]
Post-employment benefits
Post-employment benefits	104,891	102,632
Termination benefits - Voluntary retirement plan [Member]
Post-employment benefits
Post-employment benefits	686,534	713,407
Post employment and termination benefits [Member]
Post-employment benefits
Post-employment benefits	12,312,240	11,658,012
Social benefits and salaries [Member]
Post-employment benefits
Post-employment benefits	537,777	674,080
Other long-term benefits [Member]
Post-employment benefits
Post-employment benefits	$ 86,516	$ 91,575

Provisions for employee benef_4

Provisions for employee benefits - Movement in profit and loss and in other comprehensive income (Details) - COP ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Profit or loss
Interest expense, net	$ 319,540	$ 306,050
Service cost	38,368	59,052
Benefits plan costs recognized in profit or loss	357,908	365,102
Other comprehensive income
Recognized in other comprehensive income	(511,273)	(64,960)
Deferred tax	153,382	19,488
Other comprehensive income, net of taxes	(357,891)	(45,472)
Pension and bonds [Member]
Other comprehensive income
Recognized in other comprehensive income	$ (511,273)	(64,897)
Others [Member]
Other comprehensive income
Recognized in other comprehensive income		$ (63)

Provisions for employee benef_5

Provisions for employee benefits - Additional Information (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021COP ($)item	Dec. 31, 2020COP ($)item
Disclosure of defined benefit plans [line items]
Number of workers utilized voluntary retirement plan	12	421
Number of modalities	4
Assets of benefit plan | $	$ 12,564,206	$ 13,172,965
Level 1
Disclosure of defined benefit plans [line items]
Percentage of plan assets	37.60%	23.30%
Level 2
Disclosure of defined benefit plans [line items]
Percentage of plan assets	62.40%	76.70%

Accrued liabilities and provi_3

Accrued liabilities and provisions (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021COP ($)
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	$ 12,427,730
Update in abandonment costs	(58,793)
Additions (recoveries)	294,067
Uses	(217,549)
Financial cost	143,593
Foreign currency translation	114,939
Transfers	(49,745)
Balance End Period	12,654,242
Current	1,019,076
Non-current	11,635,166
Abandonment and dismantling costs
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	11,239,325
Update in abandonment costs	(58,793)
Additions (recoveries)	(5,663)
Uses	(177,617)
Financial cost	143,593
Foreign currency translation	92,485
Transfers	(2,200)
Balance End Period	11,231,130
Current	761,633
Non-current	10,469,497
Litigations
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	118,139
Additions (recoveries)	206,515
Uses	(1,136)
Foreign currency translation	308
Balance End Period	323,826
Current	30,762
Non-current	293,064
Environmental contingencies and other
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	1,070,266
Additions (recoveries)	93,215
Uses	(38,796)
Foreign currency translation	22,146
Transfers	(47,545)
Balance End Period	1,099,286
Current	226,681
Non-current	$ 872,605

Accrued liabilities and provi_4

Accrued liabilities and provisions - Litigation (Details) $ in Millions	Jun. 30, 2021COP ($)
Accrued liabilities and provisions
Provision for litigations	$ 199,712

Accrued liabilities and provi_5

Accrued liabilities and provisions - Additional information (Details) $ / shares in Units, $ in Millions

Aug. 27, 2021

Jul. 30, 2021

Apr. 26, 2021COP ($)item

Jun. 28, 2019USD ($)

Jun. 05, 2018item

Jun. 30, 2017

Apr. 28, 2017USD ($)

May 25, 2016USD ($)

Mar. 08, 2016USD ($)

Jun. 30, 2021COP ($)BarrelOfButane$ / shares

Dec. 31, 2020USD ($)item

Dec. 31, 2019

Jun. 30, 2020COP ($)

Jun. 28, 2019COP ($)

Jun. 28, 2019USD ($)

Mar. 16, 2018COP ($)

Mar. 16, 2018USD ($)

Apr. 28, 2017COP ($)

Apr. 28, 2017USD ($)

Disclosure of accrued liabilities and provisions [Line Items]

Forced investments

1.00%

1.00%

1.00%

Mandatory investments, natural resources

1.00%

Legal proceedings in process, claims made, value

$ 213

Number of findings of an administrative nature established | item

3

Number of contractor companies that provided their services during the execution of the project | item

4

5

Number of insurance companies as civilly responsible third party | item

4

4

Number of reinsurers as civilly responsible third party | item

2

Expansion and modernization project

$ 2,900

Term of subject to adjustments

5 years

3 years

Frontera Energy [Member]

Disclosure of accrued liabilities and provisions [Line Items]

Amount owed by counterparty

$ 334,583,000,000

Income that cannot be recognized

$ 110,254,000,000

Refinera de Cartagena SA [Member]

Disclosure of accrued liabilities and provisions [Line Items]

Legal proceedings in process, claims made, value

$ 2,000

Contingent asset claim

$ 432,303,000,000

$ 129

Contingent asset claim invoices provisionally paid

$ 137

$ 139

$ 122

Legal proceedings in process, claims made, value updated including interest

$ 503,241,000,000

$ 137

Contingent asset non detailed counterclaim

$ 387,558,000,000

$ 116

Contingent Asset Compliance Letter Of Credit

$ 70

Cenit Transporte y Logistica S.A.S. [Member]

Disclosure of accrued liabilities and provisions [Line Items]

Contingent provision accounts receivable and payable

99,734,000,000

Cenit Transporte y Logistica S.A.S. [Member] | Frontera Energy [Member]

Disclosure of accrued liabilities and provisions [Line Items]

Amount owed by counterparty

$ 9,663,000,000

Bicentenario, Cenit And Frontera Settlement Agreement [Member]

Disclosure of accrued liabilities and provisions [Line Items]

New transportation contracts

43.03%

New ship or pay commitment | BarrelOfButane

3,900

Current fee | $ / shares

$ 11.5

Term of subject to adjustments

5 years

Refineria de Cartagena

Disclosure of accrued liabilities and provisions [Line Items]

Number of ex-members of the Board of Directors to whom responsibility is imputed | item

7

9

Number of ex-workers of the Board of Directors to whom responsibility is imputed | item

5

5

Ecopetrol S.A.

Disclosure of accrued liabilities and provisions [Line Items]

Number of ex-workers of the Board of Directors to whom responsibility is imputed | item

1

Equity - Ecopetrol Business Gro

Equity - Ecopetrol Business Group's reserves (Details) - COP ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Disclosure of changes in equity [Line Items]
Other reserves	$ 10,624,229	$ 9,635,136
Legal reserve [member]
Disclosure of changes in equity [Line Items]
Other reserves	4,737,788	4,568,980
Fiscal and statutory reserves [member]
Disclosure of changes in equity [Line Items]
Other reserves	509,082	509,082
Occasional reserves [member]
Disclosure of changes in equity [Line Items]
Other reserves	$ 5,377,359	$ 4,557,074

Equity - Movement of equity res

Equity - Movement of equity reserves (Details) - COP ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Disclosure of changes in equity [Line Items]
Opening balance	$ 53,499,363	$ 58,231,628
Closing balance	59,991,045	53,499,363
Equity reserves [Member]
Disclosure of changes in equity [Line Items]
Opening balance	9,635,136	3,784,658
Release of reserves	(5,066,156)	(540,826)
Appropriation of reserves	6,055,249	6,391,304
Closing balance	$ 10,624,229	$ 9,635,136

Equity - Other comprehensive in

Equity - Other comprehensive income (Details) - COP ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Disclosure of changes in equity [Line Items]
Equity	$ 59,991,045	$ 53,499,363	$ 53,020,960	$ 58,231,628
Offshore International Group
Disclosure of changes in equity [Line Items]
Foreign currency translation	361,728
Other comprehensive income
Disclosure of changes in equity [Line Items]
Foreign currency translation	14,933,449	11,794,201
Hedge of a net investment in a foreign operation	(3,342,405)	(1,494,926)
Actuarial gain on defined benefit plans	(2,618,880)	(2,260,989)
Cash flow hedges for future exports	(356,505)	(136,470)
Cash flow hedge with derivative instruments	(34,030)	44,132
Others	1,699	1,114
Equity	$ 8,583,328	$ 7,947,062	$ 9,099,301	$ 6,646,660

Equity - Additional information

Equity - Additional information (Details) - COP ($) $ in Millions	Apr. 22, 2021	Mar. 27, 2020	Mar. 26, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disclosure of changes in equity [Line Items]
Capital commitments				$ 36,540,000
Number of shares authorised				60,000,000,000
Number of shares subscribed				41,116,694,690
Proportion of shares available for public trade				11.51%
Number of shares available for public trade				4,731,906,273
Proportion of shares held by majority share holders				88.49%
Number of shares held by majority share holders				36,384,788,417
Capital reserve				$ 11,499,933
Number of shares reserved for issue under options and contracts for sale of shares				18,883,305,310
Subscribed and Paid-In-Capital				$ 25,040,067		$ 25,040,067
Additional Paid in Capital				6,607,699		6,607,699
Additional paid-in capital receivable				(143)
Amount of declared dividends	$ 696,387	$ 7,401,005	$ 698,984		$ 1,751,706
Subscribed and paid-in capital	$ 454,154			25,040,067	584,854	25,040,067
Percentage of decreed dividends	100.00%
Dividends paid				1,150,541	$ 2,336,560
Share-based payment arrangements [member]
Disclosure of changes in equity [Line Items]
Additional Paid in Capital				31,377
Share-based payment arrangements [member] | Colombian Peso [Member]
Disclosure of changes in equity [Line Items]
Additional Paid in Capital				4,457,997
General Meeting of Shareholders
Disclosure of changes in equity [Line Items]
Appropriation of reserves				5,377,359		$ 4,557,074
Financial guarantee contracts [member]
Disclosure of changes in equity [Line Items]
Additional Paid in Capital				$ 2,118,468

Revenue from contracts with c_3

Revenue from contracts with customers - National and foreign sales (Details) - COP ($) $ in Millions		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Disclosure of detailed information about sales revenue [Line Items]
Revenue		$ 36,718,764	$ 23,641,913
Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		17,950,660	11,901,402
Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		18,768,104	11,740,511
Mid-distillates [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	[1]	6,693,474	4,537,459
Gasoline and turbo fuels [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	[1]	6,008,990	3,021,094
Gasoline and turbo fuels [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods			153,680
Natural Gas [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		1,470,647	1,339,952
Natural Gas [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		23,828	7,742
Services [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		1,455,204	1,457,989
Plastic and rubber [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		719,638	334,937
Plastic and rubber [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		1,010,593	575,980
L.P.G. and propane [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		360,361	159,937
L.P.G. and propane [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		27,802	6,157
Fuel gas services [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		346,308	330,272
Asphalts [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		279,851	215,060
Polyethylene [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		170,346	60,708
Aromatics [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		121,718	74,936
Diesel [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		2,075,001	1,243,219
Other Income Gas Contracts [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	[2]	1,790	28,572
Gasolines y trbo fuels [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods			153,680
Other products [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		218,809	203,810
Other products [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		266,846	433,654
Crude [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		86,399	117,457
Crude [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	[3]	14,380,121	9,612,415
Fuel oil [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		17,133	19,219
Fuel oil [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	[3]	1,108,341	422,833
Cash flow hedging [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	[3]	8
Cash flow hedging [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		$ 124,428	$ 715,169
[1]	Includes (i) the revenue from contracts with customers for COP $9,246,560 (2020: (COP $7,150,686 )) and ii) the value recognized by price differential for COP $3,455,904 (2020: (COP $407,867 )), corresponding to the application of Decree 180522 of March 29, 2010, and other standards that modify and add (Decree 1880 of 2014 and Decree 1068 of 2015), which establishes the procedure to recognize the subsidy for refiners and importers of ordinary motor gasoline and ACPM, and the methodology for calculating the net position (value generated between the parity price and the regulated price, which can be positive or negative).
[2]	Corresponds to the income on the participation in the profits of gas sales, according to the agreement signed between Ecopetrol and Hocol (considering the assets purchase agreement signed with Chevron to acquire the stake owned by the latter in the Guajira Association as of May 1, 2020), for the extension of the association contract for the exploitation of gas in La Guajira.
[3]	Includes accumulated as of June 30 the result of hedging for future exports (Note 27.3) for COP $81,095 (2020: COP$ 97,111 ) and operations with derivative financial instruments for COP$ 43,341 (2020: COP $618,058 ).

Revenue from contracts with c_4

Revenue from contracts with customers - Additional information (Details) $ in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021COP ($)	Dec. 31, 2020COP ($)	Jun. 30, 2021USD ($)	Jun. 30, 2021COP ($)	Jun. 08, 2016USD ($)
Disclosure of detailed information about sales revenue [Line Items]
Revenue from contracts with customers	$ 9,246,560	$ 7,150,686
Recognition of price differential	$ 3,455,904	407,867
Hedges with derivative instruments			$ 8,315		$ 5,200
Fuel oil [Member]
Disclosure of detailed information about sales revenue [Line Items]
Hedges with derivative instruments		618,058		$ 43,341
Cash flow hedging [Member]
Disclosure of detailed information about sales revenue [Line Items]
Hedges with derivative instruments		$ 97,111		$ 81,095

Cost of sales - before impairme

Cost of sales - before impairment of non-current assets (Details) - COP ($) $ in Millions		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Disclosure of detailed information about cost of sales of non current assets [line Items]
Total Variable Costs		$ 16,168,612	$ 13,219,834
Total Fixed Costs		5,774,829	5,689,755
Cost of sales		(21,943,441)	(18,909,589)
Variable Costs [Member]
Disclosure of detailed information about cost of sales of non current assets [line Items]
Depreciation, amortization and depletion		3,169,536	2,953,636
Imported products	[1]	6,226,515	4,127,712
Purchases of crude in association and concession	[2]	3,918,432	1,708,271
Purchases of hydrocarbons - ANH	[3]	2,460,508	1,284,644
Hydrocarbon transport services		449,215	436,187
Electric energy		506,011	544,479
Gas royalties in cash		515,160	417,255
Processing materials		402,041	421,551
Purchases of other products and gas		352,677	301,996
Services contracted in associations		124,214	127,708
Others	[4]	(1,955,697)	896,395
Fixed Costs [Member]
Disclosure of detailed information about cost of sales of non current assets [line Items]
Hydrocarbon transport services		27,979	120,563
Services contracted in associations		557,410	593,567
Depreciation and amortization		1,396,027	1,442,247
Labor costs		1,145,398	1,181,037
Maintenance		1,075,034	1,006,407
Contracted services		809,689	776,300
Taxes and contributions		396,015	321,320
Materials and operating supplies		246,622	220,215
General costs	[5]	$ 120,655	$ 28,099
[1]	The imported products correspond mainly to ACPM and diluent to facilitate the transport of heavy crude oil.
[2]	The increase in purchases corresponds to 1) new contracts with third parties to support the recovery of refinery loads and 2) the increase in prices associated to the recovery of international indicators.
[3]	It corresponds to the purchases of crude oil from royalties that Ecopetrol makes to the National Agency of Hydrocarbons (ANH) derived from the national production.
[4]	Corresponds to: i) result of the process of use and valuation of core inventories, ii) measurement at net realizable value (VNR) and iii) other charges that can be capitalized to projects. The variation corresponds to the recovery of international indicators that affects the valuation and higher volumes.
[5]	Includes the transfer to operating expenses of the costs related to the Barranca refinery units without production due to the decrease in loading capacity due to the health emergency .

Administrative, operation and_3

Administrative, operation and project expenses (Details) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2021COP ($)item	Jun. 30, 2020COP ($)	Dec. 31, 2020item
Disclosure of detailed information about general and administration expense [Line Items]
Administrative expenses	$ 1,178,900	$ 1,371,952
Operations and project expenses	$ 1,161,213	1,120,624
Number of new voluntary retirement plan | item	12		421
Administrative expenses [Member]
Disclosure of detailed information about general and administration expense [Line Items]
Labor expenses	$ 560,614	614,607
General expenses	548,535	673,488
Taxes	34,141	38,057
Depreciation and amortization	35,610	45,800
Operations and project expenses [Member]
Disclosure of detailed information about general and administration expense [Line Items]
Labor expenses	151,797	155,503
Taxes	220,745	197,011
Commissions, fees, freights and services	269,201	344,553
Exploration expenses	235,402	177,599
Depreciation and amortization	96,472	84,841
Fee for regulatory entities	75,141	51,318
Maintenance	59,045	48,866
Others	$ 53,410	$ 60,933

Other operating (expenses) in_3

Other operating (expenses) income (Details) - COP ($) $ in Millions		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Other operating (expenses) income
Provision expenses		$ (298,798)	$ (45,552)
Disposals		(28,091)	(17,810)
Impairment loss of current assets		(18,844)	(7,304)
Gain in acquisition of participation in joint operations	[1]		1,373,112
Effect of control loss on subsidiaries	[2]		65,570
Other income		45,418	43,358
Other operating income (expense)		$ (300,315)	$ 1,411,374
[1]	As of June 2020, result in the acquisition of Guajira: Ecopetrol $1,284,372 and Hocol $ 88,740 .
[2]	Effect of the recognition of the reduction of net assets due to the loss of control due to the opening of the judicial liquidation process of Bioenergy S.A.S. and Bioenergy Zona Franca S.A.S .

Other operating (expenses) in_4

Other operating (expenses) income - Additional Information (Details) - COP ($) $ in Millions		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Disclosure of associates [line items]
Adjustments for gain loss on Acquisition of investments in subsidiaries, joint ventures and associates	[1]		$ 1,373,112
Gases de la Guajira S.A. E.S.P.
Disclosure of associates [line items]
Adjustments for gain loss on Acquisition of investments in subsidiaries, joint ventures and associates		$ 1,284,372
Hocol petroleum limited
Disclosure of associates [line items]
Adjustments for gain loss on Acquisition of investments in subsidiaries, joint ventures and associates			$ 88,740
[1]	As of June 2020, result in the acquisition of Guajira: Ecopetrol $1,284,372 and Hocol $ 88,740 .

Financial result (Details)

Financial result (Details) - COP ($) $ in Millions		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Finance income
Results from financial assets		$ 57,706	$ 507,574
Yields and interests		67,855	179,505
(Loss) gain on derivatives valuation		(9,931)	87,959
Gain in settlement of derivatives		16,031
Dividends		27	22
Other financial income		8,921	18,035
Finance income		140,609	793,095
Finance expenses
Loans and borrowings	[1]	(1,166,137)	(1,138,478)
Financial cost of other liabilities	[2]	(512,836)	(573,410)
Results from financial assets		(48,929)	(378,557)
Finance costs		(1,727,902)	(2,090,445)
Foreign exchange (loss) gain		(258,101)	32,991
Realized gain of other comprehensive income from the sale of a joint venture (Note 12)		361,728	0
Foreign exchange (loss) gain, net		103,627	32,991
Financial result, net		$ (1,483,666)	$ (1,264,359)
[1]	For the six month periods ended June 30, 2021, interest capitalized in natural resources and property, plant and equipment totaled $122,651 (2020 – $129,458 ).
[2]	It includes the financial expense for the updating of the liability for abandonment costs, and the interest, net of post-employment benefits and other long-term employee benefits.

Financial result - Additional I

Financial result - Additional Information (Details) - COP ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Financial result
Interest capitalized in natural resources and property, plant and equipment	$ 122,651	$ 129,458

Risk management - Financial ass

Risk management - Financial assets and liabilities (Details) $ in Millions, $ in Millions	Jun. 30, 2021COP ($)	Jun. 30, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2020USD ($)	Jun. 30, 2020COP ($)	Dec. 31, 2019COP ($)
Balance of financial assets and liabilities denominated in foreign currency
Cash and cash equivalents	$ 5,021,544		$ 5,082,308		$ 9,247,947	$ 7,075,758
Other financial assets	$ 1,398,708		$ 3,071,659
USD$ Million
Balance of financial assets and liabilities denominated in foreign currency
Cash and cash equivalents		$ 292		$ 197
Other financial assets		708		1,164
Trade receivables and payables, net		498		203
Loans and borrowings		(11,660)		(11,814)
Other assets and liabilities, net		83		277
Net liability position		$ (10,079)		$ (9,973)

Risk management - Financial a_2

Risk management - Financial assets and liabilities denominated in foreign currency (Details) - Currency risk [member] $ in Millions	6 Months Ended
	Jun. 30, 2021COP ($)
Disclosure of detailed information about financial risk management [Line Items]
One Percent variations in exchange rate, Effect on income before income taxes	$ 17,380
One percent variations in exchange rate, effect on other comprehensive income	360,431
Five Percent variations in exchange rate, Effect on income before income taxes	86,900
Five Percent variations in exchange rate, effect on other comprehensive income	$ 1,802,156

Risk management - Non-derivativ

Risk management - Non-derivative hedging instrument (Details) - Cash flow hedging for future crude oil exports [member] - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument at the beginning of the period	$ 1,300	$ 1,300
Reassignment of hedging instruments	269	1,230
Realized exports	(269)	(1,230)
Hedging instrument at the end of the period	$ 1,300	$ 1,300

Risk management - Cash flow hed

Risk management - Cash flow hedge for future exports - Movement in other comprehensive income (Details) - COP ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Risk management
Opening balance	$ (136,470)	$ (135,748)
Exchange difference	(410,800)	(201,967)
Realized exports (Note 22)	81,095	193,374
Ineffectiveness	14,190	9,779
Deferred tax (Note 10)	95,480	(1,908)
Closing balance	$ (356,505)	$ (136,470)

Risk management - Expected recl

Risk management - Expected reclassification of the cumulative exchange difference from other comprehensive income to profit or loss (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021COP ($)
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	$ 510,475
Taxes	(153,970)
After taxes	356,505
2021
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	113,722
Taxes	(34,301)
After taxes	79,421
2022
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	227,445
Taxes	(68,602)
After taxes	158,843
2023
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	169,308
Taxes	(51,067)
After taxes	$ 118,241

Risk management - Hedge recogni

Risk management - Hedge recognised in other comprehensive income (Details) - Hedge of a net investment in a foreign operation - COP ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument at the beginning of the period	$ 1,494,926	$ 1,130,583
Exchange difference	2,639,256	520,490
Deferred tax (Note 10)	(791,777)	(156,147)
Hedging instrument at the end of the period	$ 3,342,405	$ 1,494,926

Risk management - Leverage rati

Risk management - Leverage ratio (Details) - COP ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Risk management
Loans and borrowings (Note 17)	$ 50,060,470	$ 46,731,754
Cash and cash equivalents (Note 6)	(5,021,544)	(5,082,308)	$ (9,247,947)	$ (7,075,758)
Other financial assets (Note 9)	(1,398,708)	(3,071,659)
Net financial debt	43,640,218	38,577,787
Equity (Note 21)	$ 59,991,045	$ 53,499,363	$ 53,020,960	$ 58,231,628
Leverage (1)	42.11%	41.90%

Risk management - Additional In

Risk management - Additional Information (Details) $ in Millions, $ in Millions	Oct. 01, 2015USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2021COP ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020COP ($)	Dec. 31, 2020COP ($)	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019COP ($)	Dec. 31, 2019USD ($)	Jun. 08, 2016USD ($)
Disclosure of detailed information about financial risk management [Line Items]
Closing foreign exchange rate			3,748.50	3,748.50		3,432.50
Amount in which the company expanded the hedge of a net investment in a foreign operation							$ 8,315				$ 5,200
Debt principal payments		$ 163	$ 751,216		$ 747,509
Net position of assets and liabilities different functional currency				$ 260
Hedging Instruments Foreign Currency Debt	$ 5,440
Colombian Peso [Member]
Disclosure of detailed information about financial risk management [Line Items]
Net liabilities of companies in the Group with a different functional currency							10,079
Valuation recognized in other comprehensive income in companies							464
USD$ Million
Disclosure of detailed information about financial risk management [Line Items]
Valuation recognized in other comprehensive income in companies							9,615
Hedge of a net investment in a foreign operation
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument, assets			$ 3,342,405			$ 1,494,926			$ 1,130,583
Hedge of a net investment in a foreign operation | Ecopetrol Business Group
Disclosure of detailed information about financial risk management [Line Items]
Amount in which the company expanded the hedge of a net investment in a foreign operation							1,221
Cash flow hedging for future crude oil exports [member]
Disclosure of detailed information about financial risk management [Line Items]
Amount in which the company expanded the hedge of a net investment in a foreign operation							1,300
Hedging instrument, assets							$ 1,300	$ 1,300		$ 1,300
Credit risk in U.S. dollar portfolio
Disclosure of detailed information about financial risk management [Line Items]
Maximum percentage of cash investment held in portfolio, non current			1.00%	1.00%
Maximum percentage of cash investment held in portfolio, current			5.00%	5.00%
Currency risk [member]
Disclosure of detailed information about financial risk management [Line Items]
The increase (Decrease) in Foreign exchange Rate			9.20%	9.20%

Related parties (Details)

Related parties (Details) - COP ($) $ in Millions		Jun. 30, 2021		Dec. 31, 2020
Investments in joint ventures and associates [abstract]
Accounts receivable		$ 28,332		$ 7,748
Loans receivable				97,300
Other assets		2,469	[1]	7,093
Accounts payable		56,868		72,316
Loans		1,393,160		1,277,046
Other liabilities		311	[2]	1,664
Accounts receivable, Current		28,332		7,748
Accounts receivable - Loans, Current				97,300
Other assets, Current		2,469	[1]	7,093
Accounts payable, Current		56,868		72,316
Loans, Current		1,393,160		1,277,046
Other liabilities, Current		311	[2]	1,664
Gas Natural del Oriente S.A. E.S.P.
Investments in joint ventures and associates [abstract]
Accounts receivable		8,056		0
Loans receivable				0
Other assets				0
Accounts payable		4,355		1,858
Loans				0
Other liabilities		0	[2]	0
Extrucol S.A.
Investments in joint ventures and associates [abstract]
Accounts receivable		2,145		0
Loans receivable				0
Other assets				0
Accounts payable		329		279
Loans				0
Other liabilities		0	[2]	0
E2 Energia Eficiente S.A. E.S.P.
Investments in joint ventures and associates [abstract]
Accounts receivable		7,586		4,453
Loans receivable				0
Other assets				0
Accounts payable		389		1,264
Loans				0
Other liabilities		0	[2]	0
Serviport S.A
Investments in joint ventures and associates [abstract]
Accounts receivable				0
Loans receivable				0
Other assets				0
Accounts payable				948
Loans				0
Other liabilities				0
Equion Energia Limited
Investments in joint ventures and associates [abstract]
Accounts receivable	[2]	1,134		1,950
Loans receivable	[2]			0
Other assets	[2]	2,469	[1]	7,093
Accounts payable	[2]	18,756		32,335
Loans	[2]	1,393,160		1,277,046
Other liabilities	[2]	310		1,663
Ecodiesel Colombia S.A
Investments in joint ventures and associates [abstract]
Accounts receivable		9,411		1,345
Loans receivable				0
Other assets				0
Accounts payable		33,039		35,632
Loans				0
Other liabilities		$ 1	[2]	1
Offshore International Group
Investments in joint ventures and associates [abstract]
Accounts receivable	[1]			0
Loans receivable	[1]			97,300
Other assets	[1]			0
Accounts payable	[1]			0
Loans	[1]			0
Other liabilities	[1]			$ 0
[1]	Savia Perú S.A. Loan granted by Ecopetrol S.A. This company is no longer part of the Business Group. See Note 12.
[2]	Deposits held by Equion in Ecopetrol Capital AG.

Related parties - Transactions

Related parties - Transactions with related parties (Details) - COP ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	$ 57,686	$ 21,600
Purchases And Other Assets, Related Party Transactions	250,173	368,125
Joint ventures
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	30,926	21,600
Purchases And Other Assets, Related Party Transactions	232,475	353,169
Associates
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	26,760	0
Purchases And Other Assets, Related Party Transactions	17,698	14,956
Gas Natural del Oriente S.A. E.S.P. | Associates
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	0	0
Purchases And Other Assets, Related Party Transactions	12,511	14,048
Extrucol S.A. | Associates
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	0	0
Purchases And Other Assets, Related Party Transactions	921	128
E2 Energia Eficiente S.A. E.S.P. | Associates
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	26,760	0
Purchases And Other Assets, Related Party Transactions	4,266	780
Equion Energia Limited | Joint ventures
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	15,267	17,512
Purchases And Other Assets, Related Party Transactions	39,631	227,793
Ecodiesel Colombia S.A | Joint ventures
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	15,659	4,065
Purchases And Other Assets, Related Party Transactions	192,844	125,376
Offshore International Group | Joint ventures
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	0	23
Purchases And Other Assets, Related Party Transactions	$ 0	$ 0

Segments information (Details)

Segments information (Details) - COP ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disclosure of operating segments [line items]
Revenue	$ 36,718,764	$ 23,641,913
Cost of sales	(21,943,441)	(18,909,589)
Gross profit	14,775,323	4,732,324
Administration expenses	(1,178,900)	(1,371,952)
Operation and projects expenses	(1,161,213)	(1,120,624)
Impairment recovery of non-current assets	3,446	(1,204,279)
Other operating income, net	(300,315)	1,411,374
Operating income	12,138,341	2,446,843
Financial result, net
Financial income	140,609	793,095
Financial expenses	(1,727,902)	(2,090,445)
Foreign exchange (loss) gain, net	103,627	32,991
Financial result, net	(1,483,666)	(1,264,359)
Share of profits of associates and joint ventures	115,236	61,965	$ 76,336
Income before tax	10,769,911	1,244,449
Income tax	(3,641,359)	(908,951)
Net profit (loss) for the period	7,128,552	335,498
Net profit (loss) attributable to:
Group owners of parent	6,546,938	(258,716)
Non-controlling interest	581,614	594,214
Net income	7,128,552	335,498
Supplementary information
Depreciation, depletion and amortization	4,697,645	4,526,524
Impairment of non-current assets	3,446	(1,204,279)
Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	36,718,764	23,641,913
Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	0
Operating segments [member] | Exploration and Production [Member]
Disclosure of operating segments [line items]
Revenue	27,849,173	16,634,009
Cost of sales	(18,215,979)	(16,082,559)
Gross profit	9,633,194	551,450
Administration expenses	753,773	(881,656)
Operation and projects expenses	(581,649)	(552,999)
Impairment recovery of non-current assets	0	(518,173)
Other operating income, net	(311,212)	1,331,660
Operating income	7,986,560	(69,718)
Financial result, net
Financial income	254,512	799,806
Financial expenses	(1,170,565)	(1,375,333)
Foreign exchange (loss) gain, net	(69,419)	53,591
Financial result, net	(985,472)	(521,936)
Share of profits of associates and joint ventures	13,337	(28,308)
Income before tax	7,014,425	(619,962)
Income tax	(2,491,766)	(298,605)
Net profit (loss) for the period	4,522,659	(918,567)
Net profit (loss) attributable to:
Group owners of parent	4,569,564	(847,504)
Non-controlling interest	(46,905)	(71,063)
Net income	4,522,659	(918,567)
Supplementary information
Depreciation, depletion and amortization	3,309,558	3,065,448
Impairment of non-current assets	0	(518,173)
Operating segments [member] | Exploration and Production [Member] | Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	16,169,774	16,634,009
Operating segments [member] | Exploration and Production [Member] | Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	11,679,399
Operating segments [member] | Refining and petrochemicals [Member]
Disclosure of operating segments [line items]
Revenue	21,145,694	12,394,018
Cost of sales	(19,989,429)	(12,507,567)
Gross profit	1,156,265	(113,549)
Administration expenses	323,607	(419,430)
Operation and projects expenses	(459,873)	(429,976)
Impairment recovery of non-current assets	2,655	(688,914)
Other operating income, net	(7,578)	62,019
Operating income	367,862	(1,589,850)
Financial result, net
Financial income	10,660	68,305
Financial expenses	(560,755)	(604,489)
Foreign exchange (loss) gain, net	(44,356)	(645,442)
Financial result, net	(594,451)	(1,181,626)
Share of profits of associates and joint ventures	101,899	92,641
Income before tax	(124,690)	(2,678,835)
Income tax	27,734	784,339
Net profit (loss) for the period	(96,956)	(1,894,496)
Net profit (loss) attributable to:
Group owners of parent	(184,163)	(1,958,370)
Non-controlling interest	87,207	63,874
Net income	(96,956)	(1,894,496)
Supplementary information
Depreciation, depletion and amortization	790,252	812,470
Impairment of non-current assets	2,655	(688,914)
Operating segments [member] | Refining and petrochemicals [Member] | Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	19,217,323	12,394,018
Operating segments [member] | Refining and petrochemicals [Member] | Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	1,928,371
Operating segments [member] | Transport and logistics [Member]
Disclosure of operating segments [line items]
Revenue	5,626,932	6,146,779
Cost of sales	(1,516,843)	(1,684,163)
Gross profit	4,110,089	4,462,616
Administration expenses	201,972	(199,171)
Operation and projects expenses	(157,506)	(177,266)
Impairment recovery of non-current assets	791	2,808
Other operating income, net	18,499	17,700
Operating income	3,769,901	4,106,687
Financial result, net
Financial income	19,060	75,669
Financial expenses	(126,177)	(261,584)
Foreign exchange (loss) gain, net	217,402	624,842
Financial result, net	110,285	438,927
Share of profits of associates and joint ventures		(2,368)
Income before tax	3,880,186	4,543,246
Income tax	(1,177,327)	(1,394,685)
Net profit (loss) for the period	2,702,859	3,148,561
Net profit (loss) attributable to:
Group owners of parent	2,161,547	2,547,158
Non-controlling interest	541,312	601,403
Net income	2,702,859	3,148,561
Supplementary information
Depreciation, depletion and amortization	597,835	648,606
Impairment of non-current assets	791	2,808
Operating segments [member] | Transport and logistics [Member] | Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	1,243,946	6,146,779
Operating segments [member] | Transport and logistics [Member] | Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	4,382,986
Elimination of intersegment amounts [member]
Disclosure of operating segments [line items]
Revenue	(17,903,035)	(11,532,893)
Cost of sales	17,778,810	11,364,700
Gross profit	(124,225)	(168,193)
Administration expenses	(100,452)	128,305
Operation and projects expenses	37,815	39,617
Impairment recovery of non-current assets	0
Other operating income, net	(24)	(5)
Operating income	14,018	(276)
Financial result, net
Financial income	(143,623)	(150,685)
Financial expenses	129,595	150,961
Foreign exchange (loss) gain, net	0
Financial result, net	(14,028)	276
Share of profits of associates and joint ventures	0
Income before tax	(10)
Income tax	0
Net profit (loss) for the period	(10)
Net profit (loss) attributable to:
Group owners of parent	(10)
Non-controlling interest	0
Net income	(10)
Supplementary information
Depreciation, depletion and amortization	0
Impairment of non-current assets	0
Elimination of intersegment amounts [member] | Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	87,721	$ (11,532,893)
Elimination of intersegment amounts [member] | Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	$ (17,990,756)

Segments information - Sales by

Segments information - Sales by product (Details) - COP ($) $ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disclosure of operating segments [line items]
Recognition of price differential		$ 3,455,904		$ 407,867
Total sales revenue			$ 23,641,913
Domestic sales [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		17,950,660	11,901,402
Revenue From Sale Of Goods And Rendering Of Services Before Price Differential Adjustment			11,901,402
Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods	[1]	6,693,474	4,537,459
Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods	[1]	6,008,990	3,021,094
Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,470,647	1,339,952
Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,455,204	1,457,989
Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods			330,272
Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		719,638	334,937
Domestic sales [Member] | Asphats [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods			215,060
Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		360,361	159,937
Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods			117,457
Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		170,346	60,708
Domestic sales [Member] | Aromatics [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		121,718	74,936
Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		17,133	19,219
Domestic sales [Member] | Other Income Gas Contracts [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods	[2]	1,790	28,572
Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods			203,810
Foreign sales [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		18,768,104	11,740,511
Foreign sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods			153,680
Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		23,828	7,742
Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,010,593	575,980
Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		27,802	6,157
Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods			9,612,415
Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		2,075,001	1,243,219
Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods	[3]	1,108,341	422,833
Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods			433,654
Foreign sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods			(715,169)
Operating segments [member]
Disclosure of operating segments [line items]
Total sales revenue		36,718,764
Operating segments [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenue From Sale Of Goods And Rendering Of Services Before Price Differential Adjustment		17,950,660
Operating segments [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		6,693,474
Operating segments [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		6,008,990
Operating segments [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,470,647
Operating segments [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,455,204
Operating segments [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		346,308
Operating segments [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		719,638
Operating segments [member] | Domestic sales [Member] | Asphats [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		279,851
Operating segments [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		360,361
Operating segments [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		86,399
Operating segments [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		170,346
Operating segments [member] | Domestic sales [Member] | Aromatics [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		121,718
Operating segments [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		17,133
Operating segments [member] | Domestic sales [Member] | Other Income Gas Contracts [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,790
Operating segments [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		218,809
Operating segments [member] | Domestic sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		8
Operating segments [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		18,768,104
Operating segments [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		23,828
Operating segments [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,010,593
Operating segments [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		27,802
Operating segments [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		14,380,121
Operating segments [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		2,075,001
Operating segments [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,108,341
Operating segments [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		266,847
Operating segments [member] | Foreign sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(124,429)
Elimination of intersegment amounts [member]
Disclosure of operating segments [line items]
Total sales revenue		(17,903,035)	(11,532,893)
Elimination of intersegment amounts [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenue From Sale Of Goods And Rendering Of Services Before Price Differential Adjustment		(17,903,035)	(11,453,536)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(12,163)	(7,073)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(1,046,936)	(513,487)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(447,865)	(380,945)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(4,315,963)	(4,937,498)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(3,647)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Asphats [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(8,448)	(2,232)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(11,216,561)	(5,531,914)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Aromatics [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Other Income Gas Contracts [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(851,452)	(80,387)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0	(79,357)
Elimination of intersegment amounts [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0	(79,345)
Elimination of intersegment amounts [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0	(12)
Elimination of intersegment amounts [member] | Foreign sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member]
Disclosure of operating segments [line items]
Total sales revenue		27,849,173	16,634,009
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenue From Sale Of Goods And Rendering Of Services Before Price Differential Adjustment		13,535,991	7,607,828
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,918,512	1,720,897
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		52,504	76,695
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Asphats [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		9,692	10,498
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		234,966	108,967
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		11,302,960	5,649,371
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Aromatics [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		7,728	1,784
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Other Income Gas Contracts [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,790	28,572
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		7,839	11,044
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		14,313,182	9,026,181
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		23,828	7,742
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		27,802	6,157
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		14,380,121	9,691,731
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		5,867	17,128
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		(124,436)	(696,577)
Refining and petrochemicals [Member] | Operating segments [member]
Disclosure of operating segments [line items]
Total sales revenue		21,145,694	12,394,018
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenue From Sale Of Goods And Rendering Of Services Before Price Differential Adjustment		16,690,772	9,600,368
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		6,705,637	4,544,532
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		7,055,926	3,534,581
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		91,731	172,050
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		349,955	330,272
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		719,638	334,937
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Asphats [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		270,159	204,562
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		133,843	53,202
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		170,346	60,708
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Aromatics [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		121,718	74,936
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		9,405	17,435
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Other Income Gas Contracts [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,062,422	273,153
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		8
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		4,454,922	2,793,650
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods			153,680
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,010,593	575,980
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0	29
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		2,075,001	1,243,219
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		1,108,341	422,833
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		260,980	416,501
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		7	(18,592)
Transport and logistics [Member] | Operating segments [member]
Disclosure of operating segments [line items]
Total sales revenue		5,626,932	6,146,779
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenue From Sale Of Goods And Rendering Of Services Before Price Differential Adjustment		5,626,932	6,146,742
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		5,626,932	6,146,742
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Asphats [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Aromatics [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Other Income Gas Contracts [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0	37
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		0	$ 37
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Cash flow hedging - Reclassification to profit or loss [Member]
Disclosure of operating segments [line items]
Revenue from sale of goods		$ 0
[1]	Includes (i) the revenue from contracts with customers for COP $9,246,560 (2020: (COP $7,150,686 )) and ii) the value recognized by price differential for COP $3,455,904 (2020: (COP $407,867 )), corresponding to the application of Decree 180522 of March 29, 2010, and other standards that modify and add (Decree 1880 of 2014 and Decree 1068 of 2015), which establishes the procedure to recognize the subsidy for refiners and importers of ordinary motor gasoline and ACPM, and the methodology for calculating the net position (value generated between the parity price and the regulated price, which can be positive or negative).
[2]	Corresponds to the income on the participation in the profits of gas sales, according to the agreement signed between Ecopetrol and Hocol (considering the assets purchase agreement signed with Chevron to acquire the stake owned by the latter in the Guajira Association as of May 1, 2020), for the extension of the association contract for the exploitation of gas in La Guajira.
[3]	Includes accumulated as of June 30 the result of hedging for future exports (Note 27.3) for COP $81,095 (2020: COP$ 97,111 ) and operations with derivative financial instruments for COP$ 43,341 (2020: COP $618,058 ).

Subsequent events (Details)

Subsequent events (Details)

Aug. 27, 2021

Aug. 26, 2021USD ($)

Aug. 20, 2021COP ($)$ / shares

Aug. 17, 2021USD ($)

Aug. 13, 2021USD ($)shares

Aug. 11, 2021shares

Jul. 30, 2021USD ($)

Jul. 01, 2021

Jun. 30, 2021COP ($)

Jun. 30, 2020COP ($)

Aug. 26, 2021COP ($)

Aug. 20, 2021USD ($)

Jun. 23, 2021COP ($)

Disclosure of non-adjusting events after reporting period [line items]

Percentage of ownership interest acquired

80.00%

Borrowings

$ 1,200,000,000

Period of availability for disbursements

2 years

Maturity period

5 years

3 years

Payment of interest term

6M

Variable rate basis points

1.25%

Agreed price

$ 14,236,814,000,000

Share price per share | $ / shares

$ 25,000

Consideration paid

$ 3,673,000,000

Market rate/dollar

3,876.08

Amount of disbursement

$ 70,125,000,000

$ 11,875,213,000,000

Banco Santander, S.A.,

Disclosure of non-adjusting events after reporting period [line items]

Percent of lender participation

25.00%

Citibank, N.A.,

Disclosure of non-adjusting events after reporting period [line items]

Percent of lender participation

25.00%

JPMorgan Chase Bank, N.A.

Disclosure of non-adjusting events after reporting period [line items]

Percent of lender participation

25.00%

The Bank of Nova Scotia

Disclosure of non-adjusting events after reporting period [line items]

Percent of lender participation

25.00%

ISA

Disclosure of non-adjusting events after reporting period [line items]

Percentage of ownership interest acquired

51.40%

51.40%

51.40%

Percentage of ownership interest held

100.00%

100.00%

Shares acquired | shares

569,472,561

569,472,561

Maximum credit loan

$ 4,000,000,000

Ecopetrol Singapore Private Ltd [Member]

Disclosure of non-adjusting events after reporting period [line items]

Percentage of ownership interest held

100.00%

Ecopetrol Trading Asia Private Ltd [Member]

Disclosure of non-adjusting events after reporting period [line items]

Percentage of ownership interest held

100.00%

Non-binding offer to acquire participation in ISA | ISA

Disclosure of non-adjusting events after reporting period [line items]

Percentage of ownership interest acquired

51.40%

Authorization of issuance and placement of bonds

Disclosure of non-adjusting events after reporting period [line items]

Allowed liquidity position in capital market

$ 1,400,000,000

Financing arrangements | Acquisition Loan

Disclosure of non-adjusting events after reporting period [line items]

Payment of interest term

3-month

Variable rate basis points

0.80%

Amount of disbursement

$ 3,672,000,000

Financing arrangements | Committed credit line

Disclosure of non-adjusting events after reporting period [line items]

Maximum committed credit line

$ 1,200,000,000

Investigations of control entities related to Refinera de Cartagena

Disclosure of non-adjusting events after reporting period [line items]

Alleged damages

$ 942,795,000,000

Amount of unidentified expenses related to the expansion and modernization project

$ 21,000,000

Exhibit 1 - Unaudited financi_3

Exhibit 1 - Unaudited financial information related to consolidated companies, associates and joint ventures - Consolidated subsidiary companies (Details) - COP ($) $ in Millions		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Equity		$ 59,991,045	$ 53,020,960	$ 53,499,363	$ 58,231,628
Profit (loss) of the year		7,128,552	$ 335,498
Total assets		149,369,734		137,694,169
Total liabilities		$ 89,378,689		$ 84,194,806
Refineria de Cartagena
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Hydrocarbons refining, marketing and distribution
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 17,399,704
Profit (loss) of the year		(622,240)
Total assets		30,655,028
Total liabilities		$ 13,255,324
Cenit Transporte y Logistica S.A.S. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Colombian peso
Ownership interest Ecopetrol		100.00%
Activity		Storage and transportation through hydrocarbon pipelines
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 13,521,453
Profit (loss) of the year		2,205,851
Total assets		16,193,169
Total liabilities		$ 2,671,716
Oleoducto Central S. A. - Ocensa [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		72.65%
Activity		Pipeline transportation of crude oil
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 3,239,646
Profit (loss) of the year		1,140,462
Total assets		6,530,528
Total liabilities		$ 3,290,882
Ecopetrol Global Energy SLU [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Investment vehicle
Country/Domicile		Spain
Geographic area of operations		Spain
Equity		$ 11,115,882
Profit (loss) of the year		(8,661)
Total assets		11,115,927
Total liabilities		$ 45
Hocol Petroleum Limited - HPL [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Investment vehicle
Country/Domicile		Bermuda
Geographic area of operations		Bermuda
Equity		$ 3,708,980
Profit (loss) of the year		237,226
Total assets		3,709,136
Total liabilities		$ 156
Ecopetrol America
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Hydrocarbons exploration and exploitation
Country/Domicile		United States of America
Geographic area of operations		United States of America
Equity		$ 2,641,647
Profit (loss) of the year		104,270
Total assets		3,075,155
Total liabilities		$ 433,508
Hocol
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Hydrocarbons exploration and exploitation
Country/Domicile		Cayman Islands
Geographic area of operations		Colombia
Equity		$ 2,885,017
Profit (loss) of the year		238,196
Total assets		4,349,170
Total liabilities		$ 1,464,153
Esenttia S.A. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Production and commercialization of polypropylene resin
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 2,084,196
Profit (loss) of the year		159,923
Total assets		2,905,531
Total liabilities		$ 821,335
Ecopetrol Capital AG [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Collection of surpluses from, and providing funds to, companies of the Ecopetrol Business Group
Country/Domicile		Switzerland
Geographic area of operations		Switzerland
Equity		$ 2,153,211
Profit (loss) of the year		105,098
Total assets		8,311,108
Total liabilities		$ 6,157,897
Andean Chemicals Ltd. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Investment vehicle
Country/Domicile		Bermuda
Geographic area of operations		Bermuda
Equity		$ 1,452,098
Profit (loss) of the year		79,911
Total assets		1,452,672
Total liabilities		$ 574
Oleoducto Bicentenario de Colombia S.A.S
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Colombian peso
Ownership interest Ecopetrol		55.97%
Activity		Pipeline transportation of crude oil
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 1,756,440
Profit (loss) of the year		140,561
Total assets		3,625,177
Total liabilities		$ 1,868,737
Oleoducto de los Llanos Orientales S.A
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Colombian peso
Ownership interest Ecopetrol		65.00%
Activity		Pipeline transportation of crude oil
Country/Domicile		Panama
Geographic area of operations		Colombia
Equity		$ 788,011
Profit (loss) of the year		202,735
Total assets		1,432,716
Total liabilities		$ 644,705
Inversiones de Gases de Colombia S.A.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Colombian peso
Ownership interest Ecopetrol		51.88%
Activity		Holding with investments in transportation and distribution companies of natural gas and LPG in Colombia
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 599,684
Profit (loss) of the year		122,951
Total assets		625,859
Total liabilities		$ 26,175
Black Gold Re Ltd. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Reaseguradora para compañías del Grupo Empresarial Ecopetrol
Country/Domicile		Bermuda
Geographic area of operations		Bermuda
Equity		$ 910,296
Profit (loss) of the year		(4,845)
Total assets		1,068,795
Total liabilities		$ 158,499
Oleoducto de Colombia S.A. - ODC [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Colombian peso
Ownership interest Ecopetrol		73.00%
Activity		Pipeline transportation of crude oil
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 431,796
Profit (loss) of the year		187,200
Total assets		585,068
Total liabilities		$ 153,272
Esenttia Masterbatch Ltda [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Colombian peso
Ownership interest Ecopetrol		100.00%
Activity		Manufacture of polypropylene compounds and masterbatches
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 266,101
Profit (loss) of the year		110,500
Total assets		483,316
Total liabilities		$ 217,215
Ecopetrol Oleo e Gas do Brasil Ltda. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Brazilian real
Ownership interest Ecopetrol		100.00%
Activity		Hydrocarbons exploration and exploitation
Country/Domicile		Brazil
Geographic area of operations		Brazil
Equity		$ 1,889,228
Profit (loss) of the year		(49,359)
Total assets		1,932,152
Total liabilities		$ 42,924
Ecopetrol del Peru S.A. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Hydrocarbons exploration and exploitation
Country/Domicile		Peru
Geographic area of operations		Peru
Equity		$ 57,575
Profit (loss) of the year		(303)
Total assets		60,018
Total liabilities		$ 2,443
ECP Hidrocarburos de Mexico SA de CV [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Offshore exploration
Country/Domicile		Mexico
Geographic area of operations		Mexico
Equity		$ 33,658
Profit (loss) of the year		(117,673)
Total assets		52,569
Total liabilities		$ 18,911
Ecopetrol Costa Afuera S.A.S. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Colombian peso
Ownership interest Ecopetrol		100.00%
Activity		Offshore exploration
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 12,307
Profit (loss) of the year		(1,049)
Total assets		32,412
Total liabilities		$ 20,105
Esenttia Resinas del Peru SAC [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Commercialization polypropylene resins and masterbatches
Country/Domicile		Peru
Geographic area of operations		Peru
Equity		$ 10,521
Profit (loss) of the year		3,531
Total assets		77,202
Total liabilities		$ 66,681
Ecopetrol Energia S.A.S E.S.P. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Colombian peso
Ownership interest Ecopetrol		100.00%
Activity		Energy supply service
Country/Domicile		Colombia
Geographic area of operations		Colombia
Equity		$ 16,249
Profit (loss) of the year		3,588
Total assets		108,339
Total liabilities		$ 92,090
Ecopetrol USA Inc
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Hydrocarbons exploration and exploitation
Country/Domicile		United States of America
Geographic area of operations		United States of America
Equity		$ 9,135,364
Profit (loss) of the year		159,213
Total assets		9,144,503
Total liabilities		$ 9,139
Ecopetrol Permian LLC [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol		100.00%
Activity		Hydrocarbons exploration and exploitation
Country/Domicile		United States of America
Geographic area of operations		United States of America
Equity		$ 4,699,599
Profit (loss) of the year		76,740
Total assets		5,016,981
Total liabilities		$ 317,382
Topili Servicios Administrativos S de RL de CV [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Mexican peso
Ownership interest Ecopetrol		100.00%
Activity		Specialized management services
Country/Domicile		Mexico
Geographic area of operations		Mexico
Equity		$ 57
Profit (loss) of the year		(17)
Total assets		59
Total liabilities		$ 2
Kalixpan Servicios Tecnicos S de RL de CV [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		Mexican peso
Ownership interest Ecopetrol		100.00%
Activity		Specialized services related to oil and gas industry
Country/Domicile		Mexico
Geographic area of operations		Mexico
Equity		$ 62
Profit (loss) of the year		(16)
Total assets		64
Total liabilities		$ 2
Alcanos de Colombia S.A. E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	[1]	Colombian peso
Ownership interest Ecopetrol	[1]	29.61%
Activity	[1]	Provision of the home public service of fuel gas, the construction and operation of gas pipelines, distribution networks, regulation, measurement and compression stations.
Country/Domicile	[1]	Colombia
Geographic area of operations	[1]	Colombia
Equity	[1]	$ 318,308
Profit (loss) of the year	[1]	57,206
Total assets	[1]	746,076
Total liabilities	[1]	$ 427,768
Metrogas de Colombia S.A E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	[1]	Colombian peso
Ownership interest Ecopetrol	[1]	33.49%
Activity	[1]	Provision of the public service of commercialization and distribution of fuel gas; the exploration, exploitation, storage, use, transportation, refining, purchase, sale and distribution of hydrocarbons and their derivatives.
Country/Domicile	[1]	Colombia
Geographic area of operations	[1]	Colombia
Equity	[1]	$ 56,786
Profit (loss) of the year	[1]	8,618
Total assets	[1]	114,841
Total liabilities	[1]	$ 58,055
Gases del Oriente S.A. E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	[1]	Colombian peso
Ownership interest Ecopetrol	[1]	48.50%
Activity	[1]	Provision of the home public service of fuel gas distribution and the development of all complementary activities to the provision of said service.
Country/Domicile	[1]	Colombia
Geographic area of operations	[1]	Colombia
Equity	[1]	$ 83,983
Profit (loss) of the year	[1]	19,592
Total assets	[1]	193,661
Total liabilities	[1]	$ 109,678
Promotora de Gases del Sur S.A. E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	[1]	Colombian peso
Ownership interest Ecopetrol	[1]	31.44%
Activity	[1]	Promote the linking of national or foreign capital, public or private, to achieve the gas massification project.
Country/Domicile	[1]	Colombia
Geographic area of operations	[1]	Colombia
Equity	[1]	$ 48,452
Profit (loss) of the year	[1]	12,822
Total assets	[1]	74,456
Total liabilities	[1]	$ 26,004
Combustibles Lquidos de Colombia S.A E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	[1]	Colombian peso
Ownership interest Ecopetrol	[1]	41.61%
Activity	[1]	Wholesale commercialization of fuel gas, the provision of the home public LPG distribution service and the development of complementary activities to the provision of said service.
Country/Domicile	[1]	Colombia
Geographic area of operations	[1]	Colombia
Equity	[1]	$ 55,662
Profit (loss) of the year	[1]	574
Total assets	[1]	75,392
Total liabilities	[1]	$ 19,730
Gasoducto de Oriente S.A [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	[1]	Colombian peso
Ownership interest Ecopetrol	[1]	31.61%
Activity	[1]	Design and construction of hydrocarbon production and treatment plants, construction of hydrocarbon transmission lines.
Country/Domicile	[1]	Colombia
Geographic area of operations	[1]	Colombia
Equity	[1]	$ 573
Profit (loss) of the year	[1]	(13)
Total assets	[1]	585
Total liabilities	[1]	$ 12
[1]	Indirect participation through Inversiones de Gases de Colombia S.A. - Invercolsa S.A.

Exhibit 1 - Unaudited financi_4

Exhibit 1 - Unaudited financial information related to consolidated companies, associates and joint ventures - Consolidated subsidiaries (Details) - COP ($) $ in Millions		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Equity		$ 59,991,045	$ 53,020,960	$ 53,499,363	$ 58,231,628
Profit (loss) of the year		7,128,552	$ 335,498
Total assets		149,369,734		137,694,169
Total liabilities		$ 89,378,689		$ 84,194,806
Equion Energia Limited
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency		U.S. Dollar
Ownership interest Ecopetrol, joint venture		51.00%
Activity, joint venture		Hydrocarbons exploration and exploitation
Country/Domicile, joint venture		United Kingdom
Geographic area of operations, joint venture		Colombia
Equity		$ 2,767,907
Profit (loss) of the year		25,726
Total assets		2,866,038
Total liabilities		$ 98,131
Ecodiesel Colombia S.A
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	[1]	Colombian peso
Ownership interest Ecopetrol, joint venture	[1]	50.00%
Activity, joint venture	[1]	Production, commercialization and distribution of biofuels and oleochemicals
Country/Domicile, joint venture	[1]	Colombia
Geographic area of operations, joint venture	[1]	Colombia
Equity	[1]	$ 96,507
Profit (loss) of the year	[1]	23,162
Total assets	[1]	182,658
Total liabilities	[1]	$ 86,151
Serviport S.A
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	[2]	Colombian peso
Ownership interest Ecopetrol, associate	[2]	49.00%
Activity, associate	[2]	Services to support the loading and unloading of oil trucks, supply of equipment for the same purpose, technical inspections and load measurements
Country/Domicile, associate	[2]	Colombia
Geographic area of operations, associate	[2]	Colombia
Equity	[2]	$ 17,430
Profit (loss) of the year	[2]	568
Total assets	[2]	45,457
Total liabilities	[2]	$ 28,027
Sociedad Portuaria Olefinas y Derivados S.A. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	[1]	Colombian peso
Ownership interest Ecopetrol, associate	[1]	50.00%
Activity, associate	[1]	Construction, use, maintenance, adaptation and administration of port facilities, ports, private docks or service to the general public
Country/Domicile, associate	[1]	Colombia
Geographic area of operations, associate	[1]	Colombia
Equity	[1]	$ 5,297
Profit (loss) of the year	[1]	192
Total assets	[1]	7,943
Total liabilities	[1]	$ 2,646
[1]	Information available as of May 31, 2021 .
[2]	Information available as of September 30, 2020, the investment is totally impaired.