Ecopetrol (EC) 20-F 25 Apr 22 2021 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2021shares
Disclosure of classes of share capital [line items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Shell Company Report	false
Document Transition Report	false
Entity Shell Company	false
Document Accounting Standard	International Financial Reporting Standards
Entity Incorporation, State or Country Code	CO
Entity Address, Address Line One	Carrera 13 No. 36 – 24
Entity Address, City or Town	BOGOTA
Entity Address, Postal Zip Code	00000
Entity Address, Country	CO
Document Period End Date	Dec. 31, 2021
Entity File Number	001-34175
Entity Registrant Name	ECOPETROL S.A.
Entity Common Stock, Shares Outstanding	41,116,694,690
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001444406
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Amendment Flag	false
ICFR Auditor Attestation Flag	true
Auditor Name	Ernst & Young Audit SAS,
Auditor Firm ID	1522
Auditor Location	Bogota
Common shares
Disclosure of classes of share capital [line items]
Title of 12(b) Security	Ecopetrol common shares par value COP$609 per share
Trading Symbol	EC
Security Exchange Name	NYSE
American depository receipts
Disclosure of classes of share capital [line items]
Title of 12(b) Security	American Depository Shares (as evidenced by American Depository Receipts), each representing 20 common shares par value COP$609 per share
Trading Symbol	EC
Security Exchange Name	NYSE
Business Contact
Disclosure of classes of share capital [line items]
Contact Personnel Email Address	investors@ecopetrol.com.co
Entity Address, Address Line One	Carrera 13 No.36 - 24
Entity Address, City or Town	Bogota
Entity Address, Postal Zip Code	00000
Entity Address, Country	CO
City Area Code	57
Local Phone Number	310 315 8600
Contact Personnel Name	Lina María Contreras Mora

Consolidated statement of finan

Consolidated statement of financial position - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 14,549,906	$ 5,082,308
Trade and other receivables	18,448,882	4,819,092
Inventories	8,398,212	5,053,960
Other financial assets	1,627,150	2,194,651
Current tax assets	6,273,802	3,976,295
Other assets	2,333,091	1,664,036
Current assets subtotal	51,631,043	22,790,342
Assets held for sale	64,704	44,032
Total current assets	51,695,747	22,834,374
Non-current assets
Trade and other receivables	24,159,716	676,607
Other financial assets	1,307,584	877,008
Investment in associates and joint ventures	8,357,186	3,174,628
Property, plant, and equipment	90,076,526	66,508,338
Natural and environmental resources	35,909,844	31,934,159
Right-of-use assets	496,678	377,886
Intangible assets	15,508,516	555,043
Non-current tax assets	9,030,132	8,071,733
Goodwill	4,686,324	1,594,279
Other assets	1,198,363	1,090,114
Total non-current assets	190,730,869	114,859,795
Total assets	242,426,616	137,694,169
Current liabilities
Loans and borrowings	9,206,283	4,923,346
Trade and other payables	13,568,231	8,449,041
Provisions for employee benefits	2,296,253	2,022,137
Current tax liabilities	2,152,104	1,243,883
Accrued liabilities and provisions	1,590,118	1,221,109
Other liabilities	1,409,534	391,771
Current liabilities sub total	30,222,523	18,251,287
Liabilities related to non-current assets held for sale	26,208	31,156
Total current liabilities	30,248,731	18,282,443
Non-current liabilities
Loans and borrowings	85,854,645	41,808,408
Trade and other payables	70,607	21,064
Provisions for employee benefits	9,082,792	10,401,530
Non-current tax liabilities	12,124,520	1,866,054
Accrued liabilities and provisions	12,642,089	11,206,621
Other liabilities	1,819,460	608,686
Total non-current liabilities	121,594,113	65,912,363
Total liabilities	151,842,844	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	11,357,894	7,947,062
Retained earnings	14,859,658	669,900
Equity attributable to owners of parent	68,489,547	49,899,864
Non-controlling interest	22,094,225	3,599,499
Total equity	90,583,772	53,499,363
Total liabilities and equity	$ 242,426,616	$ 137,694,169

Consolidated statement of profi

Consolidated statement of profit or loss - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated statement of profit or loss
Sales revenue	$ 91,881,204	$ 50,223,393	$ 71,488,512
Cost of sales	(55,581,776)	(37,567,472)	(44,972,360)
Gross profit	36,299,428	12,655,921	26,516,152
Administrative expenses	(3,342,069)	(3,373,150)	(2,151,599)
Operations and project expenses	(3,153,557)	(2,586,016)	(2,631,754)
Impairment of non-current assets	(33,351)	(633,156)	(1,762,437)
Other operating (expenses) income	(72,744)	1,118,166	1,056,796
Operating income	29,697,707	7,181,765	21,027,158
Financial results
Finance income	403,592	1,101,430	1,623,336
Finance expenses	(4,431,648)	(3,929,791)	(3,334,469)
Foreign exchange gain	330,002	346,774	40,639
Financial result	(3,698,054)	(2,481,587)	(1,670,494)
Share of profits of associates and joint ventures	426,164	76,336	366,904
Profit before income tax expense	26,425,817	4,776,514	19,723,568
Income tax expense	(8,795,263)	(2,038,661)	(4,718,413)
Net profit for the year	17,630,554	2,737,853	15,005,155
Net profit attributable to:
Owners of parent	15,649,143	1,586,677	13,744,011
Non-controlling interest	1,981,411	1,151,176	1,261,144
Net profit (loss) for the period	$ 17,630,554	$ 2,737,853	$ 15,005,155
Basic earnings per share	$ 380.60	$ 38.59	$ 334.27
Diluted earnings per share	$ 380.60	$ 38.59	$ 334.27

Consolidated statement of compr

Consolidated statement of comprehensive income - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated statement of comprehensive income
Net profit for the year	$ 17,630,554	$ 2,737,853	$ 15,005,155
Other comprehensive income that may be reclassified to profit or loss in subsequent periods -net of taxes:
Cash flow hedge for future exports	(808,777)	(722)	238,331
Hedge of a net investment in a foreign operation	(2,871,410)	(364,343)	(61,267)
Cash flow hedge with derivative instruments	(135,666)	55,072	46,451
Foreign currency translation	5,971,549	1,569,996	8,701
Sale of joint ventures	(361,728)	0	0
Unrealized loss on equity instruments measured at fair value	1,793,968	1,260,003	232,216
Other comprehensive income that may be reclassified to profit or loss in subsequent periods -net of taxes:
Remeasurement gain (loss) on defined benefit plans	1,777,157	96,221	(1,799,829)
Other losses	0	0	(175,494)
Other comprehensive income that will not to be reclassified to profit or loss in subsequent periods -net of taxes	1,777,157	96,221	(1,975,323)
Other comprehensive income (loss) for the year, net of tax	3,571,125	1,356,224	(1,743,107)
Total comprehensive income for the year, net of tax	21,201,679	4,094,077	13,262,048
Comprehensive income attributable to:
Owners of parent	19,059,975	2,887,080	11,502,149
Non-controlling interest	2,141,704	1,206,997	1,759,899
Total comprehensive income for the year, net of tax	$ 21,201,679	$ 4,094,077	$ 13,262,048

Consolidated statement of chang

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, 2018	$ 25,040,067	$ 6,607,699	$ 5,138,895	$ 8,380,761	$ 9,970,492	$ 55,137,914	$ 1,969,866	$ 57,107,780
Net profit	0	0	0	0	13,744,011	13,744,011	1,261,144	15,005,155
Release of reserves	0	0	(3,050,703)	0	3,050,703	0	0	0
Dividends declared	0	0	(3,659,386)	0	(9,251,256)	(12,910,642)	(1,010,206)	(13,920,848)
Business combination	0	0	0	0	0	0	1,606,390	1,606,390
Other movements	0	0	0	0	176,608	176,608	(350)	176,258
Appropriation of reserves net, Legal	0	0	1,155,640	0	(1,155,640)	0	0	0
Fiscal and statutory reserves	0	0	509,082	0	(509,082)	0	0	0
Occasional	0	0	3,691,130	0	(3,691,130)	0	0	0
Cash flow hedge for future exports	0	0	0	238,331	0	238,331	0	238,331
Hedge of a net investment in a foreign operation	0	0	0	(61,267)	0	(61,267)	0	(61,267)
Cash flow hedge with derivative instruments	0	0	0	34,651	0	34,651	11,800	46,451
Foreign currency translation	0	0	0	29,507	0	29,507	(20,806)	8,701
Remeasurement gains(loss) on defined benefit plans	0	0	0	(1,799,829)	0	(1,799,829)	0	(1,799,829)
Other movements	0	0	0	(175,494)	0	(175,494)	0	(175,494)
Closing 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	1,586,677	1,586,677	1,151,176	2,737,853
Release of reserves	0	0	(540,826)	0	540,826	0	0	0
Dividends declared	0	0	0	0	(7,401,005)	(7,401,005)	(1,425,586)	(8,826,591)
Change in participation in subsidiaries	0	0	0	0	0	0	249	249
Appropriation of reserves net, 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
Cash flow hedge for future exports	0	0	0	(722)	0	(722)	0	(722)
Hedge of a net investment in a foreign operation	0	0	0	(364,343)	0	(364,343)	0	(364,343)
Cash flow hedge with derivative instruments	0	0	0	40,443	0	40,443	14,629	55,072
Foreign currency translation	0	0	0	1,528,803	0	1,528,803	41,193	1,569,996
Remeasurement gains(loss) on defined benefit plans	0	0	0	96,221	0	96,221	0	96,221
Other movements								0
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	15,649,143	15,649,143	1,981,411	17,630,554
Release of reserves	0	0	(5,066,156)	0	5,066,156	0	0	0
Dividends declared	0	0	0	0	(698,984)	(698,984)	(2,008,840)	(2,707,824)
Business combination	0	0	0	0	0	0	18,973,080	18,973,080
Change in participation in subsidiaries	0	0	0	0	228,692	228,692	(596,394)	(367,702)
Equity restitution	0	0	0	0	0	0	(14,824)	(14,824)
Appropriation of reserves net, 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
Cash flow hedge for future exports	0	0	0	(808,777)	0	(808,777)	0	(808,777)
Hedge of a net investment in a foreign operation	0	0	0	(2,869,539)	0	(2,869,539)	(1,871)	(2,871,410)
Cash flow hedge with derivative instruments	0	0	0	(105,048)	0	(105,048)	(30,618)	(135,666)
Foreign currency translation	0	0	0	5,812,213	0	5,812,213	159,336	5,971,549
Sale of joint ventures	0	0	0	(361,728)	0	(361,728)	0	(361,728)
Remeasurement gains(loss) on defined benefit plans	0	0	0	1,743,711	0	1,743,711	33,446	1,777,157
Other movements								0
Closing balance at Dec. 31, 2021	$ 25,040,067	$ 6,607,699	$ 10,624,229	$ 11,357,894	$ 14,859,658	$ 68,489,547	$ 22,094,225	$ 90,583,772

consolidated statement of cash

consolidated statement of cash flows - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flow in operating activities:
Net profit for the period	$ 17,630,554	$ 2,737,853	$ 15,005,155
Adjustments to reconcile the net profit to net cash provided by operating activities:
Income tax expense	8,795,263	2,038,661	4,718,413
Depreciation, depletion, and amortization	10,159,922	9,324,538	8,582,783
Loss (gain) foreign exchange, net	31,726	(346,774)	(40,639)
Realization of other comprehensive income from the sale of a joint venture	(361,728)	0	0
Finance cost of loans and borrowings	3,095,224	2,384,342	1,894,490
Finance cost of post-employment benefits and abandonment costs	1,043,728	872,987	757,509
Write off of exploratory assets and dry wells	486,408	448,132	340,271
Loss on disposal of non-current assets	61,846	246,317	121,121
Gain on revaluation of assets in Guajira association	0	(1,284,372)	0
Gain on acquisition of participations and interests	0	(86,026)	(1,048,924)
Gain on loss of control in subsidiaries	0	(65,695)	0
Impairment loss of short-term assets	83,773	34,416	90,441
Impairment loss of non-current assets	33,351	633,156	1,762,437
(Gain) loss on fair value adjustment of financial assets	(7,431)	(43,948)	18,551
Loss on hedging transactions with derivatives	19,485	0	0
Share of profit of associates and joint ventures	(426,164)	(76,336)	(366,904)
Net gain on the sale of assets held for sale	(3,840)	(5,635)	(2,846)
Hedge ineffectiveness	24,496	9,779	5,173
Realized loss on foreign exchange cash flow hedges	249,978	193,374	386,773
Net change in operational assets and liabilities:
Trade and other receivables	(9,457,451)	678,349	2,381,905
Inventories	(2,980,134)	716,077	(597,552)
Trade and other payables	3,117,982	(2,550,411)	1,389,064
Tax assets and liabilities	(2,448,882)	(1,256,889)	(1,409,334)
Provisions for employee benefits	(222,356)	465,062	(234,629)
Provisions and contingencies	(163,737)	(30,185)	(253,043)
Other assets and liabilities	(523,090)	(392,843)	(492,745)
Cash flows from (used in) operations	28,238,923	14,643,929	33,007,470
Income tax paid	(5,702,902)	(5,457,225)	(5,295,703)
Net cash provided by operating activities	22,536,021	9,186,704	27,711,767
Cash flow in investing activities:
Investment in joint ventures	(44,735)	0	0
Acquisition of subsidiaries, net of acquired cash	(8,951,587)	0	0
Investment in property, plant, and equipment	(6,117,588)	(5,032,317)	(4,012,659)
Investment in natural and environmental resources	(6,733,028)	(5,994,462)	(9,798,193)
Acquisitions of intangibles	(444,346)	(90,082)	(168,289)
Proceeds from the sale of the other financial asset, net	1,282,903	2,107,856	3,117,549
Interests received	266,116	299,246	481,674
Dividends received	206,048	157,241	189,169
Proceeds from sales of assets	17,986	23,713	154,780
Net cash used in investment activities	(20,518,231)	(8,528,805)	(10,035,969)
Cash flow in financing activities:
Proceeds from borrowings	24,666,792	13,805,403	359,876
Repayment of borrowings	(11,267,540)	(5,003,885)	(1,596,630)
Interest payments	(3,333,555)	(2,345,683)	(1,766,223)
Lease payments	(336,030)	(350,539)	(300,326)
Dividends paid	(2,771,287)	(8,734,351)	(13,867,029)
Net cash provided (used) in financing activities	6,958,380	(2,629,055)	(17,170,332)
Exchange difference in cash and cash equivalents	491,428	(22,294)	258,548
Net increase (decrease) in cash and cash equivalents	9,467,598	(1,993,450)	764,014
Cash and cash equivalents at the beginning of the year	5,082,308	7,075,758	6,311,744
Cash and cash equivalent at the end of the year	$ 14,549,906	$ 5,082,308	$ 7,075,758

Reporting entity

Reporting entity	12 Months Ended
	Dec. 31, 2021
Reporting entity
Reporting entity	1. Reporting entity Ecopetrol 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, as well as the supplying of electric power transmission, design, development, construction, operation and maintenance of roads and projects related to energy infrastructure, and information technology and telecommunications services, directly or through its subsidiaries (collectively referred to “Ecopetrol Business Group”). An 11.51% of Ecopetrol’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 is Bogotá – Colombia, Carrera 13 No. 36 – 24.

Basis of presentation

Basis of presentation	12 Months Ended
	Dec. 31, 2021
Basis of presentation
Basis of presentation	2. Basis for presentation 2.1 Statement of compliance and authorization of financial statements The consolidated financial statements of Ecopetrol and its subsidiaries as of December 31, 2021, and 2020 and for each of the three years in the period ended December 31, 2021, 2020, and 2019 have been prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB). Accounting policies described in Note 4 have been applied consistently in all years presented. These consolidated financial statements were approved and authorized for issuance by the Board of Directors of Ecopetrol on April 25, 2021. 2.2 The consolidated financial statements were prepared by consolidating all companies set out in Exhibit 1, which are those over which Ecopetrol exercises direct or indirect control. Control is achieved when the Ecopetrol Business Group: ● has power over the investee (including rights to manage relevant activities); ● is exposed, or has the rights, to variable returns from its involvement with the investee; and ● has the ability to use its power to affect its operational returns. This instance occurs when the Ecopetrol Business Group has less than a majority of the voting rights of an investee, and it still has the power over the investee to provide it with the practical ability to direct the relevant activities of the investee unilaterally. The Ecopetrol Business Group considers all relevant facts and circumstances in assessing whether or not the Company’s voting rights in an investee are sufficient or not to give it power, including: a) the percentage of the Ecopetrol Business Group’s voting rights relative to the size and apportionment of the shares of other vote holders; b) potential voting rights held by the Ecopetrol Business Group, other vote holders or other parties; c) rights arising from other contractual arrangements; and d) any additional facts and circumstances that indicate that the Ecopetrol Business Group has, or does not have, the current ability to direct the relevant activities, at the time that decisions need to be made, including voting patterns at previous shareholders’ meetings. Subsidiaries are consolidated from the date on which control is obtained until the date that such control ceases. All intercompany assets and liabilities, equity, income, expenses, and cash flows relating to transactions between entities of the Ecopetrol Business Group were eliminated on consolidation. Unrealized losses are also eliminated. Non–controlling interest represents the proportion of profit, other comprehensive income and net assets in subsidiaries that are not attributable to Ecopetrol shareholders. The following subsidiaries had changes in the Group: 2021 Acquisition of Interconexión Eléctrica S.A. E.S.P. On August 20, 2021, the Ecopetrol acquired 51.4% of the outstanding shares of Interconexión Eléctrica S.A. E.S.P. (ISA), thus obtaining control of the company. See Note 12. As of December 2021, ISA is a Multi-Latin business group with operations in the electric power transmission, toll roads concessions, and telecommunications businesses, through 50 subsidiaries, 11 joint ventures and 1 associate, in 6 countries in South and Central America. See the subsidiaries in Exhibit 1. Divestment of Ecopetrol Energía S.A.S. E.S.P. As a result of the acquisition of ISA and considering the regulatory restrictions, the inter-administrative contract signed for the purchase between Ecopetrol, and the Ministry of Finance and Public Credit includes a clause committing the divestment of Ecopetrol Energía S.A.S. E.S.P. The transactions of this company are not material to the consolidated financial statements. New companies in Singapore On July 1, 2021, the constitution of Ecopetrol Singapore Pte Ltd. was concluded, in which Ecopetrol directly owns 100% of its share capital. This subsidiary owns 100% of the share capital of Ecopetrol Trading Asia Pte Ltd., whose main purpose is the international commercialization of crude and refined products of the Ecopetrol Business Group and of third parties in Asia. Both companies are domiciled in Singapore. 2020 ECP Oil and Gas Germany GmbH The liquidating agency for ECP Oil and Gas Germany GmbH submitted the report and the liquidation balance on December 11, 2020. Therefore, the company is no longer part of Ecopetrol Business Group from the date above on. Bioenergy S.A.S and Bioenergy Zona Franca S.A.S. On June 24, 2020, the Superintendence of Companies issued the liquidation orders decreeing on the termination of the reorganization process and the opening of the judicial liquidation process of Bioenergy S.A.S and Bioenergy Zona Franca S.A.S. The latter process will be carried out according to the law on business insolvency – Act 1116/2006, and under the direction of the aforementioned Superintendence. Consequently, as of this date Ecopetrol Business Group does not have control over these companies, and they are no longer part of the consolidated figures. As a result, reduction of net assets was recognized due to the loss of control with an impact on the results of the Business Group for $65,570. The Group does not recognize additional liabilities related to these companies. 2019 Additional ownership interest in Invercolsa In November 2019, Ecopetrol obtained an additional 8.53% ownership interest in Invercolsa, through the Supreme Court of Justice final ruling stating that Mr. Fernando Londoño’s attempt to acquire Invercolsa’s shares owned by Ecopetrol was not valid. As a result, Ecopetrol obtained control of Invercolsa, with a total ownership interest of 51.88%. No consideration was paid for the shares obtained because of the judicial ruling. The subsidiaries that started being consolidated because of obtaining control of Invercolsa are as follows: ● Inversiones de Gases de Colombia S.A., whose main corporate purpose is to hold investments in companies associated with activities in the energy sector; the exploration, exploitation, refining, transformation, transport, distribution and sale of hydrocarbons and their derivatives in the national territory; and to encourage the establishment of new companies and to hold shares or corporate interests therein. ● Alcanos de Colombia S.A. E.S.P., whose main corporate purpose is to provide fuel gas to homes in Neiva and throughout Colombia; to construct and operate gas pipelines, distribution networks, regulation, measurement and compressor stations and any works undertaken necessary for the management and commercialization of public services. ● Metrogas de Colombia S.A. E.S.P., whose main corporate purpose is to commercialize and distribute fuel gas; to explore, store, use, transport, refine, purchase, sell and distribute hydrocarbons and their derivatives in all their forms and representations. ● Gases del Oriente S.A. E.S.P., whose main corporate purpose is to provide fuel gas to homes by distributing gas and performing all activities complementary to the provision thereof. ● Promotora de Gases del Sur S.A. E.S.P., whose main corporate purpose is to promote the affiliation of national or foreign capital, public or private and to achieve the gas massification project in the Huila department, through a gas pipeline from the Neiva municipality to the Hobo municipality. ● Gasoducto de Oriente S.A., whose main corporate purpose is to design and construct hydrocarbon production and treatment plants, such as gas pipelines, oil pipelines and others, as well as to invest in projects related thereto. ● Combustibles Líquidos de Colombia S.A. E.S.P., whose main corporate purpose is to commercialize wholesale fuel gas, to distribute LPG to homes and to carry out complementary activities to this distribution, as well as to store, transport, package, distribute and sell LPG. New companies in the United States of America In July 2019, two companies were incorporated to enable the operation between Ecopetrol and Occidental Petroleum Corp. (OXY), whereby it was agreed to form a Joint Operation to execute a joint plan for the development of Unconventional Deposits in the Texas Permian Basin.The two companies incorporated were the following: ● Ecopetrol USA Inc., whose corporate purpose is to participate in any lawful act or activity for which corporations may be organized under the General Corporation Law of Delaware. ● Ecopetrol Permian LLC., whose corporate purpose is to carry out any or all lawful businesses for which limited liability companies can be organized in accordance with the Delaware Limited Liability Companies Act. New companies in Mexico Two companies in Mexico were incorporated to provide administrative and technology services to Ecopetrol México. The two companies created were: Topili Servicios Administrativos S. de R.L. de C.V. and Kalixpan Technical Services S. de R.L. de C.V. 2.3 Basis of presentation The consolidated financial statements have been prepared on a historical cost basis, except for financial assets and liabilities that are measured at fair value through profit or loss and/or changes in other comprehensive income at the end of each reporting period, as explained in the accounting policies included below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services. The fair value is the price that would be received from selling an asset or that would be paid for transferring a liability among market participants, in an orderly transaction, on the date of measurement. When estimating the fair value, the Ecopetrol Business Group uses assumptions that market participants would use for pricing an asset or liability at current market conditions, including risk assumptions, which maximize the value (highest and best use) of the asset or liability. 2.4 The consolidated financial statements are presented in Colombian Pesos, which is the Ecopetrol’s functional currency. For each Ecopetrol Business Group entity, its functional currency is determined based of the main economic environment where it operates. The statements of profit or loss, and cash flows of subsidiaries with functional currencies different from Ecopetrol’s functional currency are translated at the exchange rates on the dates of the transaction or based on the monthly average exchange rate. Assets and liabilities are translated at the closing exchange rate, and other equity items are translated at exchange rates at the time of the transaction. All resulting exchange differences are recognized in other comprehensive income. On disposal of all or significant part of a foreign operation, the cumulative translation adjustment related to the foreign operation is reclassified to profit or loss. The financial statements are presented in Colombian pesos rounded up to the closest million unit (COP$ 000,000) except when otherwise indicated. 2.5 Transactions in foreign currencies are initially recorded by the Ecopetrol Business Group’s entities at their respective functional currency spot rates at the transactions date. Monetary items denominated in foreign currencies are translated at the functional currency spot rates prevailing at the reporting date. Differences arising on settlement, or translation, or monetary items are recognized in profit or loss, in financial results, net, except those resulting from the conversion of loans and borrowings designated as cash flow hedges or net investment in a foreign operation hedge, which are recognized in other comprehensive income within equity. When the hedged item affects the financial results, exchange differences accumulated in equity are reclassified to profit or loss as part of operating results. Non–monetary items measured at fair value that are denominated in a foreign currency are translated using the exchange rates prevailing on the date when the fair value is determined. The gain or loss arising on translation of non–monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item. 2.6 The Ecopetrol Business Group presents assets and liabilities in the consolidated statement of financial position based on whether assets are classified as current or non–current. An asset or liability is classified as current when: ● It is expected to be realized or intended to be sold or consumed (or expected to be settled, in the case of liabilities) in the ordinary course of business; ● Held mainly for the purpose of trading; ● Expected to be realized (or to be settled, in the case of liabilities) within twelve months after the reporting period; or ● In the case of the assets, it is cash or a cash equivalent, unless the exchange of such asset or liability is restricted or to be used to settle a liability at least twelve months after the reporting period; or ● In the case of a liability, there is no unconditional right to defer settlement of the liability until at least twelve months after the reporting period. Other assets and liabilities are classified as non–current. Deferred tax assets and liabilities are classified as non–current assets and liabilities. 2.7 Basic earnings per share is calculated by dividing the profit for the year attributable to equity holders of Ecopetrol, the parent company, by the weighted average number of ordinary shares outstanding during the year. There is no potential dilution of shares. 2.8 Considerations and effects of Covid-19 Adverse impacts continue to evolve globally and domestically, and it is difficult to predict their ramifications. The COVID-19 pandemic forced companies to deal with the crisis not only by taking timely actions to protect the health and safety of their employees and ensure the continuity of operations, sales of products and service provision, but also to reflect in-depth about previously established goals, the impact of the pandemic on mid-term and long-term choices and the creation of new strategic plans. Throughout the pandemic of Covid-19, the Ecopetrol Business Group has taken the measures to ensure the sustainability of the business, prioritizing the opportunities for 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 2021, the Ecopetrol Business Group executed the vaccination program for its employees through the mechanism called “Empresarios por la Vacunación”, led by the National Association of Business of Colombia (ANDI), in accordance with the regulations issued by the National Government. In this way, the business sector contributed to speeding up vaccination against Covid-19 and advancing in a safer way of working. Throughout the year, Ecopetrol also participated in a program for country support, focused on economic reactivation in sustainable development projects. This plan contemplates the execution of resources for social investment against Covid-19 in the areas of operations and communities from areas of influence in Colombia. The Ecopetrol Business Group will continue monitoring the evolution of the Covid-19 pandemic and the markets, reviewing the indicators of impairment of non-current assets and investments in companies, the behavior of accounts receivables, fair value measurements of financial assets, changes in operating income, reserve levels, among others. Regarding the oil and gas industry, the behavior of the prices of crude oil and products during the year 2021 showed a recovery due to factors such as i) the efforts of the Organization of Petroleum Exporting Countries (OPEC) to keep the market balanced, ii) the progress of vaccination campaigns in several countries around the world, iii) the strengthening of the demand for fuels, driven by the economic recovery, once the peaks of COVID-19 in Colombia had been overcome and iv) the elimination of restrictions on international routes. Such factors shaped the expectations of a sustained recovery. On the other hand, ISA’s business did not incur in any significant negative effect on service revenues, considering its business nature, management, and hedging policy. ISA has identified and analyzed, for each business unit, impacts on operations and maintenance, execution of projects and procurement as well as the possible impacts on expected growth and business models. The Ecopetrol Group is subject to mandatory protocols to be able to return to day-to-day activities and mitigate and adequately manage the COVID-19 situation. Considering the spread of coronavirus, the Ministry of Health and Social Protection (Ministerio de Salud y Protección Social) issued Resolution 777 of June 2, 2021, adopting the general biosecurity protocol to mitigate, control and perform the adequate management of COVID-19. The protocol, which is applicable to all economic and social activities, include: training direct employees and contractors hired by means of services agreements or those for the execution of a specific task about the measures indicated in the biosecurity protocol; implementing the actions that will allow to guarantee the continuity of the activities and the integral protection; adopting administrative control measures for reducing exposure, such as flexible shifts and working schedules, as well as encouraging work from home; incorporating in the official communication channels and attention centers information related to selfcare, prevention, propagation and attention of COVID-19; requesting assistance and technical assessment from the Occupational Risks Insurance Company to verify the measures adopted to their different activities; implementing special protocols for cleaning and disinfection of the facilities; modifications to the workspace to comply with social distancing and comply with the requirements of personal hygiene; use virtual content to strengthen skills and communicate with employees; creating return to work strategies including employees vaccinated and those who decide not to get inoculated, among others. Additionally, other activities were implemented by the Ecopetrol Business Group to define preventive and protective actions, such as validation protocols with epidemiologists, international benchmarking to share experiences with other companies that are in similar situations, and human factors evaluations with psychologists. These or similar measures were also adopted in other countries where the Ecopetrol Business Group operates, in accordance with the local regulations. In the event home office mode is to be imposed indefinitely, we will have to comply with the requirements for teleworking modality established on Law 1221 of 2008 and Decree 884 of 2012. For the adoption of these protocols, we may be required to incur additional costs and expenses to allocate funds to industrial safety and health compliance under Colombian law. 2.9 Conflict Russia - Ukraine After weeks of intense tensions between Russia and Ukraine, as well as with the West, on February 24, 2022, Russia launched a full-scale military invasion of Ukraine. This war has increased volatility in the capital markets and has caused many commodities to rise due to supply risk (Brent crude oil prices have reached levels above 100 USD per barrel and natural gas prices in Europe have exceeded 30 USD/mmbtu). The ability of Ecopetrol to access international and local capital markets and finance operations and potentially refinance the debt maturities on terms acceptable to Ecopetrol could be adversely affected due to the volatility in prices in the oil and gas sector, the escalation of the military conflict between Ukraine and Russia, the disruptions on Russia’s energy exports as a result of sanctions, the global economy impacts due to energy supply shocks, the potential impacts on demand of further lockdowns or outbreaks of COVID-19, the lack of consensus among OPEC+ members, the political uncertainty in the region, the discovery of corruption by governments and private companies in emerging markets and further geopolitical disruptions in the world, which could involve developed countries, and in turn could worsen risk perception with respect to the emerging markets, or the occurrence of any of the risks described in the section Risk Review—Risk Factors—Risks Related to Our Business of the annual report in Form 20-F. These conditions, along with significant write-offs in the financial services sector and the re-pricing of credit risk, can make it difficult for us to obtain funding for our capital needs on favorable terms. Our cost and ability to obtain capital might be affected as well if the creditors of Ecopetrol and potential investors believe that we are not actively responding to the new low carbon economy, integrating TESG considerations in the operation and management, addressing risks related to climate change and energy transition, and meeting TESG targets; considering further the evolving restrictions to invest in pure fossil fuels companies announced by certain investors worldwide.

Significant estimates and accou

Significant estimates and accounting judgments	12 Months Ended
	Dec. 31, 2021
Significant estimates and accounting judgments
Significant estimates and accounting judgments	3. Significant estimates and accounting judgments The preparation of the consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets, liabilities, sales revenues, costs, and commitments recognized in the financial statements and the accompanying disclosures. The Ecopetrol Business Group based its assumptions and estimates on parameters available when these consolidated financial statements were prepared. Uncertainty about these assumptions and estimates could result in outcomes that required a material adjustment to the carrying amount of assets or liabilities affected in future periods. Changes in estimates are adjusted prospectively in the period in which the estimate is revised. In the process of applying the Ecopetrol Business Group’s accounting policies, management has made the following judgments and estimates which have the most significant impact on the amounts recognized in the consolidated financial statements: 3.1 Hydrocarbon reserves are estimates of the amounts of hydrocarbons that can be economically and legally extracted from the Ecopetrol Business Group’s oil and gas properties. The reserves estimation is performed annually as of December 31 in accordance with the United States Securities and Exchange Commission (SEC) definitions and rules set forth in Rule 4–10(a) of SEC Regulation S–X and the disclosure guidelines contained in the SEC final rule – Modernization of Oil and Gas Reporting. As required by current regulations, the future estimated date on which a field will no longer produce for economic reasons, is based on actual costs and average of crude prices (calculated as the arithmetical average of prices on the first day of the past 12 months). The estimated date for end of production will affect the amounts of reserves, unless the prices have been defined by contractual agreements; therefore, if the prices and costs change from one year to the next, the proved reserves estimate also changes. Generally, our proved reserves decrease as prices go down and increase when prices go up. Reserves estimation is an inherently complex process, and it involves professional judgments. Reserves estimation is prepared using geological, technical, and economic factors, including projections of future production rates, oil prices, engineering data and duration and amounts of future investments, and they imply a certain degree of uncertainty. These estimations reflect the regulatory and market conditions existing on the date of reporting, which could significantly differ from other conditions during the year or in future periods. Any changes in regulatory and/or market conditions and assumptions could materially affect the reserves estimation. Impact of oil reserves and natural gas in depreciation and depletion Changes to estimations for proven developed reserves may affect the carrying amounts of exploration and production assets, natural resources and environment, goodwill, liabilities for dismantling and depreciation, depletion, and amortization. With all other variables remaining unchanged, a decrease in estimated proven reserves would increase, prospectively, depreciation, depletion, and amortization costs, while an increase in reserves would reduce depreciation and amortization expenses, as depreciation, depletion and amortization charges are calculated using the units of production method. Information about the carrying amounts of exploration and production assets and the amounts charged to income, including depreciation, depletion, and amortization, is presented in Notes 14 and 15. 3.2 Management uses its professional judgment in assessing the existence of evidence of an impairment loss or reversal, based on internal and external factors. When an indicator of impairment loss or reversal of impairment of prior period impairment exists, the Ecopetrol Business Group estimates the recoverable amount of the cash generating units (CGU), which is considered the greater of fair value less costs of disposal and the value in use. The assessments require the use of estimates and assumptions, such as, among other factors: (1) future investments, taxes and costs; (2) useful life of assets; (3) future prices, (4) discount rate, which is reviewed annually, and is determined as the weighted average cost of capital (WACC), and (5) changes in regulation. Specifically for crude oil and gas assets, the following are also included: (6) estimation of volumes and market value of oil and natural gas reserves and (7) production profiles of oil fields and future production of refined and chemical products. The recoverable amount is compared with the net book value of the asset, or of the cash-generating unit (CGU), thus determining whether the asset is impaired or if the impairment recognized in prior periods should be reversed. A previously recognized impairment loss is reversed (except over the goodwill), only if there has been a change in the assumptions used to determine the assets or in the CGU’s recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of an asset or CGU, other than goodwill, does not exceed either its recoverable amount, or the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset or CGU in prior periods. Future oil and refined products prices assumptions are estimated at current market conditions related to upstream and downstream. For oil and gas asset, expected production volumes, which comprise proven unproved, probable, and possible reserves are used for impairment testing because management believes this to be the most appropriate indicator of expected future cash flows, which would also be considered by market participants. Reserves estimates are inherently imprecise and subject to risk and uncertainty. Furthermore, projections about unproved volumes are based on information that is necessarily less robust than what is available for mature reservoirs. These estimates and assumptions are subject to risk and uncertainty. Therefore, there is a possibility that changes in circumstances will impact these projections, which may also impact the recoverable amount of assets and/or CGUs, hence, may also affect the recognition of an impairment loss or the reversal of prior period impairment amounts. 3.3 The application of the Ecopetrol Business Group’s accounting policy for exploration and evaluation costs requires judgment to determine whether future economic benefits are likely, either from future exploitation or sale, or whether activities have not reached a stage which permits a reasonable assessment of the existence of reserves. Certain exploration and evaluation costs are initially capitalized when it is expected that commercially viable reserves will result. The Ecopetrol Business Group uses its professional judgment of future events and circumstances and makes estimates to assess annually the generation of future economic benefits for extracting oil resources, as well as technical and commercial analyses to confirm its intention of continuing their development. Changes regarding available information, such as drilling success level or changes in the project’s economics, production costs, and investment levels, as well as other factors, may result in capitalized exploration drilling costs being recognized in profit or loss for the period. The expenses for dry wells are included in operating activities in the consolidated statement of cash flows. 3.4 The allocation of assets in cash generating units requires significant judgment, as well as assessments regarding integration among assets, the existence of active markets, and similar exposure to market risk, shared infrastructure, and the way in which management monitors the operations. See Note 4.13 – Impairment of non-current assets 3.5 According to environmental and oil regulations, the Ecopetrol Business Group is required to bear the costs for the abandonment of oil extraction, refining plants and transportation facilities, which include the cost of plugging and abandoning wells, dismantling facilities, and environmental remediation in the affected areas. Estimated abandonment and dismantling costs are recorded at the time of the installation of the assets and are reviewed annually. The calculations for these estimations are complex and involve significant judgments by Management. The ultimate decommissioning costs are uncertain and cost estimates can vary in response to many factors, including changes to relevant legal requirements, the emergence of new restoration techniques or experience at other production sites. The expected timing, extent and amount of expenditure may also change, for example, in response to changes in internal cost projections, changes in reserve estimates, future inflation rates and discount rates. The Ecopetrol Business Group considers that the abandonment and dismantling costs are reasonable, based on the experience of the Ecopetrol Business Group and market conditions; nevertheless, significant variations in external factors used for the calculation of the estimation could significantly impact the amounts recorded in the financial statements. See Note 4.14 - Provisions and contingent liabilities 3.6 The determination of expenses, liabilities and adjustments relating to pension plans and other defined retirement benefits makes it necessary for management to use its judgment in the application of actuarial assumptions made in the actuarial calculation. The actuarial assumptions include estimates regarding future mortality, retirement, changes in compensation and discount rate to reflect the time value of money, in addition to the rate of return on the plan’s assets. Due to the complexity in the valuation of these variables, as well as their long-term nature, the estimated amounts are quite sensitive to any change in these assumptions. These assumptions are reviewed on an annual basis and may differ materially from actual results due to changes in economic and market conditions, regulatory changes, judicial rulings, higher or lower retirement rates, or longer or shorter life expectancies among employees. 3.7 In December of each year, the Ecopetrol Business Group performs an annual impairment test on goodwill to assess if its carrying amount may be impaired. The determination of the recoverable amount is described in Note 4.13, and its calculation requires assumptions and estimates. The Ecopetrol Business Group considers that the assumptions and estimations used are reasonable and supportable based on the current market conditions and are aligned to the risk profile of the related assets. However, if different assumptions and estimations are used, they could lead to different results. Valuation models used to determine fair value are sensitive to changes in the underlying assumptions. For example, sales volumes and prices that will be paid for the purchase of raw materials are assumptions that may vary in the future. Adverse changes in any of these assumptions could lead to the recognition of goodwill impairment. 3.8 The Ecopetrol Business Group is subject to claims relating to regulatory and arbitration proceedings, tax assessments and other claims arising in the normal course of business. Management evaluates these claims based on their nature, the likelihood that they materialize, and the amounts involved, to decide on the amounts recognized and/or disclosed in the financial statements. This analysis, which may require considerable judgment, includes the assessment of current legal proceedings brought against the Ecopetrol Business Group and claims not yet initiated. A provision is recognized when the Ecopetrol Business Group has a present obligation derived from a past event, it is likely that an outflow of resources of economic benefits will be required to settle the obligation, and a reliable estimate of the amount of such obligation can be made. 3.9 Calculation of the income tax provision requires interpretation of tax law in the jurisdictions where the Ecopetrol Business Group operates. Significant judgment is required to determine estimates for income tax on taxable profits and to evaluate the recoverability of deferred tax assets, which are based on the ability to generate sufficient taxable income during the periods in which such deferred taxes could be used or deduct. To the extent that future cash flows and taxable income differ significantly from the estimates, the Ecopetrol Business Group’s ability to realize the deferred tax assets recorded could be affected. Furthermore, changes in tax rules could limit the capacity of the Ecopetrol Business Group to obtain tax deductions in future years, as well as the recognition of new tax liabilities resulting from auditing conducted by the tax authorities. Tax positions taken involve a thorough assessment by Management and are reviewed and adjusted in response to situations such as expiration in the applicability of laws, closing of tax audits, additional disclosures caused by any legal issue or a court decision relevant to a particular tax issue. The Ecopetrol Business Group records provisions based on estimated potential liabilities that could be derived from a tax audit. The amount of these provisions depends on factors such as previous experience in tax audits and different interpretations of tax legislation. The actual results may differ from the estimates recorded. 3.10 The process of identifying hedging relationships between hedged items and the underlying instruments (derivative and non–derivative, such as long–term, foreign currency–denominated debt), and their corresponding effectiveness, requires the use of judgment by management. The Ecopetrol Business Group periodically monitors the alignment between its hedge instruments and its risk management policy. 3.11 Provision for significant maintenance and replacement Ecopetrol Business Group has contractual obligations under its road and electric power transmission concession agreements to provide the replacement and maintenance activities. The amount of the provision is based on qualitative and quantitative analyzes made by Ecopetrol Business Group's maintenance area and an estimate of disbursements for major maintenance and replacements, which considers the current market prices of the components to be replaced at the time to recognize the provision. 3.12 Traffic projections for road concessions The revenue for the services provided under the road concessions related to certain contracts, which are accounted under the financial asset model of IFRIC 12, is calculated through the present value of future revenue cash flow. This estimation is based on traffic studies made by an independent entity based on GDP projections among other variables according to the concession. 3.13 Energy power transmission concessions agreements Ecopetrol Business Group operates energy transmission concessions in Colombia, Peru, Chile, Bolivia, and Brazil under public service concession agreements in which the grantor controls or regulates the services provided by the concessionaire, to whom they are provided, and at what price. 3.14 Business combination According to IFRS 3, Business combinations, applying the acquisition method implies to identify the assets acquired and liabilities assumed and measure them at fair value on the acquisition date, subject to certain exceptions. For each kind of asset or liability, fair value methodologies are applied considering the observable inputs and elements described in IFRS 13 – Fair value measurement.

Accounting policies

Accounting policies	12 Months Ended
	Dec. 31, 2021
Accounting policies
Accounting policies	4. Accounting policies The accounting policies indicated below have been applied consistently for all the periods presented. 4.1 A financial instrument is any contract that creates a financial asset for one entity and a financial liability or equity instrument for another entity. The classification of financial instruments depends on the nature and purpose for which the financial assets or liabilities were acquired and is determined at the time of initial recognition. Financial assets and financial liabilities are initially measured at their fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. Loans and trade receivables, other receivables and financial assets held–to–maturity are measured subsequently measured at amortized cost using the effective interest method. Additionally, equity instruments are measured at fair value. Measurements at fair value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place in the principal market of the asset or liability or in the absence of a principal market in the most advantageous market. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, supposing that the market participants act in their economic best interest. A fair value measurement of a non-financial asset considers a market participant's ability to generate economic benefits by using the asset for its most profitable use or by selling it to another market participant that would use the asset in its highest and best use. Ecopetrol Business Group uses valuation techniques that are appropriate for the circumstances and for which the data is available and enough to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are classified within the following scale, based on the lowest level input that is significant to the fair value measurement, as follows: ● Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities. The fair value of the Ecopetrol Business Group’s marketable securities with a quoted market price is based on Level 1 inputs. ● Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observed. Level 2 inputs include prices of similar assets, prices obtained through quotations made by stockbrokers, and prices that can be substantially corroborated with other observable data with the same contractual terms. For derivative contracts for which a quoted market price is not available, fair value estimates are generally determined using models and other valuation methods, the key inputs for which include future prices, volatility estimates, price correlation, counterparty credit risk and market liquidity, as appropriate. For other assets and liabilities, fair value estimations are generally based on the net present value of expected future cash. ● Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. The Ecopetrol Business Group does not use Level–3 inputs for the measurement of financial assets and liabilities. The Ecopetrol Business Group may use Level–3 inputs for the calculation the recoverable amount of certain non–financial assets for the purpose of impairment testing. Effective interest rate method The effective interest rate method is a method of calculating the amortized cost of a financial instrument and accounting of income or financial cost over the relevant period. The effective interest rate is the discount rate that exactly discounts estimated future cash receipts or payments (including all fees, transaction costs and other premiums or discounts) through the expected life of the financial instrument (or, when appropriate, at a shorter period), to the net carrying amount on initial recognition. This methodology is also applied to the instrument’s measurement related to the concession financial assets. Impairment The Ecopetrol Business Group evaluates if there is objective evidence that a financial asset or group of financial assets are impaired. Financial assets are evaluated for the impairment indicators at the end of each reporting period. Financial assets are considered impaired when there is objective evidence that, because of one or more events that occurred after initial recognition, the estimated future cash flows of the asset have been affected. For financial assets measured at amortized cost, the amount of the impairment loss recognized is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate. 4.1.1 Cash and cash equivalents include cash on hand, financial investments that are highly liquid, bank deposits and special funds with original maturity dates of ninety days or less which are subject to an insignificant risk of changes in value. Restricted cash is a monetary resource with the objective of allocating it to specific and previously determined purposes. 4.1.2 The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. Except for trade receivables that do not contain a significant financing component or for which the Ecopetrol Business Group has applied the practical expedient, Ecopetrol Business Group initially measures a financial asset at its fair value plus, and, in the case of a financial asset not at fair value through profit or loss, at transaction costs. Trade receivables that do not contain a significant financing component or for which the Ecopetrol Business Group has applied the practical expedient are measured at the transaction price determined under IFRS 15. The Ecopetrol Business Group classifies its financial assets in the following categories: a) Financial assets measured at fair value through profit or loss Financial assets are held for trading and financial assets designated at the time of the initial recognition at fair value through profit or loss. Financial assets are classified as held for trading if they are acquired to be sold or repurchased in the short term. They are recognized at their fair value and losses or profits arising at the time of re–measurement are recognized in the statement of profit or loss. b) Financial assets measured at fair value with changes in other comprehensive income These are equity instruments of other non–controlled and non–strategic companies not allowing for any type of control or significant influence thereon and where the Ecopetrol Business Group’s management does not intend to negotiate with them in the short term. These investments are recorded at their fair value, and unrealized gains or losses are recognized in other comprehensive income. c) Financial assets at amortized cost This category is the most relevant to Ecopetrol Business Group. The Group's financial assets at amortized cost includes trade receivables, other receivables, loans to associates, and loans to employees. Loans and receivables are non–derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and receivables, including trade and other receivables, are measured initially at fair value and then at amortized cost using the effective interest rate method, less impairment. Loans to employees are initially recorded using the present value of the future cash flows, discounted at the current market rate for similar loans. If the interest rate is less than the current market rate, fair value will be less than the amount of the loan. This difference is recorded as a benefit to employees. Ecopetrol Business Group measures financial assets at amortized cost if both of the following conditions are met: ● The asset is held within a business model with the objective to hold financial assets to collect contractual cash flows. ● The contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment analysis. Gains and losses are recognized in profit or loss when the asset is derecognized, modified, or impaired. Derecognition of financial assets The Ecopetrol Business Group derecognizes a financial asset only upon the expiration of the contractual rights to the cash flows of the asset or, when it has transferred its rights to receive such cash flows or has assumed the obligation to pay the cash flows received in full without material delay to a third party and (a) it has transferred substantially all the risks and benefits inherent in the ownership of the financial asset or (b) it has neither transferred nor retained substantially all the risks and benefits of the asset, but has transferred control of the asset. When the Ecopetrol Business Group does neither transfer nor retain substantially all the risks and benefits of the asset or transfer control of the asset, the Ecopetrol Business Group continues to recognize the transferred asset, to the extent of its continuing participation, and it also recognizes the associated liability. 4.1.3 Financial liabilities correspond to the financing obtained by the Ecopetrol Business Group through bank credit facilities and bonds, accounts payables to suppliers and creditors. Bonds and bank credit facilities (this is the category most relevant to the Group) are initially recognized at their fair value, net of directly attributable transactions cost. After initial recognition, interest–bearing credit facilities and bonds are subsequently measured at amortized cost, using the effective interest rate (EIR) method. The effective interest method amortization is included as a financial expense in the statement of profit or loss. Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the statement of profit or loss. Accounts payable to suppliers and creditors are short–term financial liabilities recorded at nominal value since it does not significantly differ from fair value. Derecognition A financial liability is derecognized when the obligation specified in the contract is discharged, cancelled, or expires. When an existing financial liability has been replaced by another from the same lender, under substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the de–recognition of the original liability and recognized as a new liability. The difference between the respective carrying amounts is recognized in the statement of profit or loss. 4.1.4 Financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Changes in the fair value of derivatives are recognized as gains or losses in the statement of profit or loss, except for the effective portion of cash flow hedges, which is recognized in other comprehensive income and later reclassified to profit or loss when the hedge item affects profit or loss. Changes in fair value of derivative contracts, which do not qualify or are not designated as hedges, including forward contracts for the purchase and sale of commodities under negotiation for physical delivery or receipt of the commodity are recorded in profit or loss. Derivatives embedded in the host contract are accounted for as separate derivatives at fair value if their economic characteristics and risks are not closely related to those of the host contracts and the host contracts are not held for trading or designated at fair value through profit or loss. These embedded derivatives are measured at fair value with changes in fair value recognized in profit or loss. 4.1.5 For purposes of hedge accounting, hedges are classified as: ● Cash flow hedges: hedges of the exposure to variability in cash flows attributable to a particular risk associated with all, or a component of, a recognized asset or liability or a highly probable forecast transaction, and that could affect profit or loss. ● Hedges of net investments in foreign operations. ● Fair value hedges: hedges of the exposure to changes in fair value of a recognized asset or liability or an unrecognized firm commitment, or a component of any such item, that is attributable to a particular risk and that could affect profit or loss. At the inception of a hedge relationship, Ecopetrol Business Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge. Such hedges are expected to be highly effective in achieving offsetting changes in fair value or cash flows and are assessed on an ongoing basis to determine whether they have been highly effective throughout the financial reporting periods for which they were designated. 4.1.5.1 The effective portion of the gain or loss on the hedging instrument is recognized in Other Comprehensive Income (OCI) in the cash flow hedge reserve, while any ineffective portion is recognized immediately in the statement of profit or loss. The amounts previously accumulated in OCI are recognized in profit or loss when the hedged transaction affects the statement of profit or loss. If the hedged transaction subsequently results in the recognition of a non-financial item, the amount accumulated in equity is removed from the separate component of equity and included in the initial cost or other carrying amount of the hedged asset or liability. If the hedging instrument expires or is sold, terminated, or exercised without replacement or rollover, or if its designation as a hedge is revoked or when the hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss previously recognized in other comprehensive income remains separately in equity until the forecast transaction occurs is recognized in the consolidated statement of profit or loss. When it is no longer expected that the initially hedged transaction will occur. Ecopetrol Business Group designates certain loans as a hedging instrument for its exposure to exchange rate risk in future crude oil exports. Additionally, the Group enters positions with derivative financial instruments such as commodity swaps, cross currency swaps or interest rate swaps to hedge commodity price risks, exchange rate risk and interest rate risk, respectively, which may also be designated as cash flow hedges. 4.1.5.2 Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for similarly to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized as OCI while any gains or losses relating to the ineffective portion are recognized in the statement of profit or loss. On the disposal of a foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss. Ecopetrol allocates long–term loans as hedging instruments for its exposure to foreign exchange risk on its investment in subsidiaries whose functional currency is the U.S. dollar. See Note 30.4 for further information. 4.1.5.3 Fair value hedge The gain or loss on the hedging instrument shall be recognized in profit or loss or other comprehensive income if the hedging instrument hedges an equity instrument for which an entity has elected to present changes in fair value in other comprehensive income. The hedging gain or loss on the hedged item shall adjust the carrying amount of the hedged item (if applicable) and be recognized in profit or loss. If the hedged item is a financial asset (or a component thereof) that is measured at fair value through other comprehensive income, the hedging gain or loss on the hedged item shall be recognized in profit or loss. However, if the hedged item is an equity instrument for which an entity has elected to present changes in fair value in other comprehensive income, those amounts shall remain in other comprehensive income. 4.2 Inventories are stated at the lower of cost and net realizable value. Inventories mainly comprise crude oil, fuels and petrochemicals and consumable inventories (spares and supplies). The cost of crude oil is the production costs, including transportation costs. The cost required to bring a pipeline into working order, is treated as part of the related pipeline. The cost of other inventories is determined based on the weighted average cost method, which includes acquisition costs (deducting commercial discounts, rebates, and other similar items), transformation, and other costs incurred to bring inventory to their current location and condition, such as transportation costs. Consumable inventories (spares and supplies) are recognized as inventory and then charged to expense, maintenance, or project to the extent that such items are consumed. Ecopetrol estimates the net realizable value of inventories at the end of the period. When the circumstances that previously caused inventories to be written down below cost no longer exist, or when there is clear evidence of an increase in the net realizable value because of a change in economic circumstances, the amount of the write down is reversed. The reversal cannot be greater than the amount of the original write-down, so that the new carrying amount will always be the lower of the cost and the revised net realizable value. 4.3 Related parties are considered those in which one party can control, or has joint control of the other, or exercises significant influence over the other party in making financial, or operational decisions, or is a member of key management personnel (or close relative of a member). The Ecopetrol Business Group considers related parties to be associates, joint ventures, key management executives, entities managing resources for payment of employee post–employment benefit plans and Colombian government entities for the purposes of certain relevant transactions, such as the purchase of hydrocarbons and the fuel price stabilization fund (see Note 31 – Related parties). 4.3.1 An associate is an entity over which the Ecopetrol Business Group has significant influence but not control. Significant influence is the power to participate in the financial and operational policy decisions of the investee, but it is not control or joint control over those policies. Generally, these entities are those in which the Ecopetrol Business Group holds an equity interest with voting rights of 20% to 50%. See Exhibit 1 – Consolidated subsidiaries, associates, and joint ventures. Investments in associates are accounted for using the equity method. Under this method, the investment in an associate is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Ecopetrol Business Group’s share of net assets of the associate since the acquisition date. Goodwill related to the associate is included in the carrying amount of the investment and it is not tested for impairment separately. The Ecopetrol Business Group’s share of the results of operations of the associate is recognized in the consolidated statement of profit or loss. Any change in other comprehensive income is recognized in other comprehensive income of the Ecopetrol Business Group. After application of the equity method, the Ecopetrol Business Group determines if it is necessary to recognize an impairment on its investment in its associate. The Ecopetrol Business Group determines whether there is objective evidence that the investment is impaired. If there is such evidence, the amount of the impairment is calculated as the difference between the recoverable amount and its carrying value, and then the impairment is recognized in the consolidated profit or loss statement. When necessary, the Ecopetrol Business Group adjusts the accounting policies of associates to ensure consistency with the policies adopted by the Ecopetrol Business Group. Additionally, the equity method of these companies is measured on their most recent financial statements. 4.3.2 A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint arrangement. Joint control exists only when decisions about the relevant activities require unanimous consent of the parties sharing such control. The accounting treatment for the recognition of joint ventures is the same as investments in associates. 4.4 A joint operation is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and obligations for the liabilities, relating to the arrangement. Joint operation contracts are entered into between Ecopetrol and third parties to share risk, secure capital, maximize operating efficiency and optimize the recovery of reserves. In these joint operations, one party is designated as the operator to execute the operations and report to partners according to their participating interests. Likewise, each party takes its share of the produced hydrocarbons (crude oil or gas), according to their share in production. When Ecopetrol participates as a non–operator partner, it recognizes the assets, liabilities, sales revenues, cost of sales and expenses based on the operator’s report. When Ecopetrol is the direct operator of joint venture contract, it recognizes its percentage of assets, liabilities, sales revenues, costs, and expenses, based on the participation of each partner in the items corresponding to assets, liabilities, sales revenues, costs, and expenses. When the Ecopetrol Business Group acquires or increases its participation in a joint operation in which the activity constitutes a business combination, such transaction is recognized applying the acquisition method in accordance with IFRS 3 – Business combination. The acquisition cost is the sum of the consideration transferred, which corresponds to the fair value, on the date of acquisition of the assets transferred and the liabilities incurred. Any transaction cost related to the acquisition or increased share in the joint operation that constitutes a business combination is recognized in the consolidated statement of profit or loss. The excess of the sum of the consideration transferred and the amount paid in the operation is recognized as goodwill. If the result is in an excess value of the net assets acquired over the amount paid in the purchase transaction, the difference is recognized as income in the consolidated statement of profit or loss on the date of recognition of the transaction. 4.5 Non–current assets are classified as held for sale if their carrying values will be recovered principally through a sale transaction rather than through continued use. Non–current assets are classified as held for sale only when the sale is highly probable within one year from the classification date and the asset (or group of assets) is available for immediate sale in its present condition. These assets are measured at the lower of their carrying amount and fair value less related costs of disposal. 4.6 Recognition and measurement Property, plant, and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Tangible components related to natural and environmental resources are part of property, plant, and equipment. The initial cost of an assets comprises its purchase price or construction cost, including import duties and non–refundable purchase taxes, any costs directly attributable to bringing the asset into operation, costs of employee benefits arising directly from the construction or acquisition, borrowing costs incurred that are attributable to the acquisition and construction of qualifying assets and the initial estimate of the costs of dismantling and abandonment of the item. Spare parts and servicing equipment are recorded as inventories and recognized as an expense as they are used. Major spare parts and stand–by equipment that the entity expects to use during more than one period are recognized as property, plant, and equipment. Any gain or loss arising from the disposal of a property, plant and equipment is recognized in profit or loss of the period. Subsequent disbursements Subsequent disbursements correspond to all payments to be made on existing assets to increase or extend the initial expected useful life, increase productivity or productive efficiency, allow for significant reduction of operating costs, increase the level of reserves in exploration or production areas or replace a part or component of an asset that is considered critical for the operation. The costs of repair, conservation and maintenance of a day-to-day nature are expensed as incurred. However, disbursements related to major maintenance are capitalized. Depreciation Property, plant, and equipment is depreciated using the straight–line method, except for those associated with exploration and production activities which are depreciated using the units–of–production method. Technical useful lives are updated annually considering factors such as: additions or improvements (due to parts replacement or critical components for the asset’s operation), technological advances, obsolescence, and other factors; the effect of this change is recognized from the period in which it was executed. Depreciation of an asset starts when it is ready to be used. Useful lives are determined based on the period over which an asset is expected to be available for use, physical exhaustion, technical or commercial obsolescence and legal limits or restrictions over the use of the asset. The estimated useful life of assets fluctuates in the following ranges: ​ Plant and equipment 10 – 55 years Pipelines, networks, and lines 10 – 63 years Buildings 10 – 100 years Other 3 – 35 years ​ Lands are recognized separately from buildings and facilities, and it is not subject to depreciation. Depreciation methods and useful lives are reviewed annually and adjusted if appropriate. 4.7 Recognition and measurement Ecopetrol uses the successful efforts method to account for exploration and production of crude oil and gas activities, following the provisions of IFRS 6 – Exploration for the evaluation of mineral resources. Exploration costs Acquisition and exploration costs are recorded as exploration and evaluation assets until the determination of whether the exploration drilling is successful or not; if determined to be unsuccessful, all costs incurred are recognized as expenses in the statement of profit or loss. Exploration costs are those incurred with the objective of identifying areas that are considered to have prospects of containing oil and gas reserves, including geological and geophysical, seismic costs, viability, and others, which are recognized as expenses when incurred. Furthermore, disbursements associated with the drilling of exploratory wells and those related to stratigraphic wells of an exploratory nature are charged as assets until it is determined if they are commercially viable; otherwise, they are expensed in the consolidated statement of profit or loss as dry wells expense. Other expenditures are recognized as expenses when incurred. An exploration and evaluation asset is no longer classified as such when the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. Exploration and evaluation assets are reclassified to the natural and environmental resources account after being assessed for impairment. All capitalized costs are subjected to technical and commercial revisions at least once a year to confirm the evaluation and exploration efforts continue the fields; otherwise, these costs are written off through to profit or loss. Exploration costs are net of the revenues obtained from the sale of crude oil during the extensive testing period, net of cost of sales since they are considered necessary to complete the asset. Development costs Development costs correspond to those costs incurred to obtain access to proved reserves and to provide facilities for extracting, treating, gathering, and storing. When a project is approved for development, the corresponding capitalized acquisition and exploration costs are classified as natural and environmental resources and costs after the exploration phase are capitalized as development costs of the properties that contain such natural resources. All development costs are capitalized, including drilling costs of unsuccessful development wells. Production costs Production costs are those incurred to operate and maintain productive wells and are part of the corresponding equipment and facilities. Production activity includes extraction of oil and gas to the surface, its gathering, treatment, and processing as well as storage in the field. Production costs are expenses recorded in the consolidated statement of profit or loss as incurred unless they add oil and gas reserves, in which case they are capitalized. Production and support equipment is recognized at cost and is part of property, plant, and equipment subject to depreciation. Capitalized costs also include decommissioning, dismantling, retiring and restoration costs, as well as the estimated cost of future environmental obligations. The estimation includes plugging and abandonment costs, facility dismantling and environmental recovery of areas and wells. Changes arising in new abandonment liability estimations and environmental remediation are capitalized in the carrying amount of the related asset. Depletion Depletion of natural and environmental resources is determined using the unit–of–production method per field, using proved developed reserves as a base, except in limited exceptional cases that require greater judgment by Management to determine a better amortization factor of future economic benefits over the useful life of the asset. Depreciation/depletion rates are reviewed annually, based on reserves reports and the impact of any changes is recognized prospectively in the financial statements. Reserves are independently estimated by internationally recognized external consultants and approved by Ecopetrol’s Board of Directors. Proved reserves consist of the estimated quantities of crude oil and natural gas demonstrated with reasonable certainty by geological and engineering data to be recoverable in future years from known reserves under existing economic and operating conditions, that is, at the prices and costs that apply at the date of the estimation. Impairment Assets associated to exploration, evaluation and production are subject to review for possible impairment in their carrying amount. See Notes 3.2 — Impairment of non-current assets Impairment of non–current assets 4.8 Borrowing costs related to the acquisition, construction or production of a qualifying asset that requires a substantial period to get ready for its intended use are capitalized as part of the cost of such asset when it is probable that future economic benefits associated with the item will flow to the Ecopetrol Business Group and costs can be measured reliably. Other borrowing costs are recognized as finance costs. Projects that have been suspended but that the Ecopetrol Business Group intends to continue to pursue their development in the future, are not conside

New standards and regulatory ch

New standards and regulatory changes	12 Months Ended
	Dec. 31, 2021
New standards and regulatory changes
New standards and regulatory changes	5. New standards and regulatory changes 5.1 New standards adopted by Ecopetrol Business 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. According to the Financial Conduct Authority, the 3- and 6-month LIBOR dollar reference rates will remain in effect until June 30, 2023. Within the accounting analysis, Ecopetrol Business Group 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 re-estimate 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. Although the norm has already entered into force, the company has not made the changes in the current debt contracts and continues to apply the LIBOR rate for the calculation of interest, which is supported by what the Financial Conduct Authority mentioned that the LIBOR will remain in effect until June 30, 2023. 5.2 New standards issued by the IASB that are effective in future periods The IASB issued amendments to the following IFRS, with application as of January 1, 2022, or subsequent periods: ● 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. This amendment impacts the treatment of the sales to third parties of extensive production tests, which are sales of oil obtained by testing a development well before going into full production. Ecopetrol Business Group will apply this amendment as of January 1, 2022, disclosing separately the amounts of income and costs related to the items produced in the statement of profit or loss and taking the transitory definitions established in the amendment. ● IFRS 3 – Business Combinations: in which they update a reference from the standard to the Conceptual Framework. The amendments are intended to replace the reference to the Framework for the Preparation and Presentation of Financial Statements, issued in 1989, by the reference to the Conceptual Framework for Financial Information, issued in March 2018, without significantly changing its requirements. ● IAS 37 – Provisions, liabilities, and contingent assets: in which it details what costs an entity must include when determining whether a contract is onerous. The amendments define that a "directly related cost approach" must be applied. Costs directly related to a contract to provide goods or services include both incremental costs and an allocation of costs to contract activities. General and administrative costs are not directly related to the contract and should be excluded unless they are explicitly attributable to the counterparty under the contract. ● 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 1st, 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. The amendments clarify the following points: o The word “significant” is changed to “material or with relative importance”. o The accounting policies that must be disclosed in the notes to the financial statements are clarified. An entity will disclose information about its material or relatively important accounting policies. o It is clarified when an accounting policy is considered material or relatively important. o Adds the following paragraph: “Information about accounting policies that focuses on how an entity has applied the requirements of IFRS to its own circumstances provides specific information about the entity that is more useful to users of financial statements than standardized information or information that only duplicates or summarizes the requirements of IFRS Standards”. ● 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. The amendment was published by the IASB in February 2021 and defines an accounting estimate to distinguish it from an accounting policy: "Accounting estimates are monetary amounts, in financial statements, that are subject to measurement uncertainty." ● 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. ● IFRS 17 was issued by the IASB in 2017 with application beginning on January 1, 2021, to replace IFRS 4 Insurance Contracts. However, the entry into force was postponed until January 1, 2023. This standard has not been introduced into the Colombian accounting framework, and it was not included in the public discussion process that began on Technical Council of Public Accounting. Ecopetrol Business Group is constantly monitoring changes in 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	12 Months Ended
	Dec. 31, 2021
Cash and cash equivalents.
Cash and cash equivalents	6. Cash and cash equivalents ​ ​ ​ ​ ​ ​ ​ 2021 2020 Banks 11,080,569 4,215,518 Short–term investments 3,467,859 866,606 Cash 1,478 184 ​ 14,549,906 5,082,308 ​ As of December 31, 2021, cash and cash equivalents balance includes $71,979 ($11,682 as of December 31, 2020), of restricted cash to be used exclusively for the payment of loans principal and interest obtained by Oleoducto Bicentenario and Oleoducto de los Llanos, and $1,039,024, based on the financing contracts and maintained, mainly, to guarantee the debt service by Interconexión Eléctrica S.A. E.S.P. It is important to consider that the accomplishment of conditions in the loans agreements permits the cash and equivalents availability. The fair value of cash and cash equivalents approximates their book value due to their short–term nature (less than three months) and its high liquidity. Cash equivalents are convertible to a known amount of cash and are subject to an insignificant risk of changes in value. The return on cash and cash equivalents for the years ended December 31, 2021, and 2020 were 2.6% and 2.2%, respectively. The following table reflects the credit quality of banks in which Ecopetrol Business Group has deposits and check accounts, and issuers of investments included in cash and cash equivalents: ​ ​ ​ ​ ​ ​ Rating 2021 2020 AAA 3,892,694 2,578,090 F1+ ​ 2,383,713 ​ 1,286,310 BRC1+ ​ 2,172,603 ​ 99,923 A-1 1,294,164 851,394 BBB ​ 1,277,357 ​ 121 A ​ 1,224,990 ​ 4,319 F1 ​ 1,177,581 ​ 207,773 AA ​ 526,127 ​ 546 P-2 ​ 370,582 ​ — BB ​ 106,070 ​ — Aaa ​ 27,621 ​ 1,431 AAAf ​ 19,481 ​ 28,552 B ​ 14,674 ​ — F3 ​ 12,853 ​ 12,184 Aa3 ​ 11,239 ​ — C ​ 6,615 ​ — CCC ​ 4,872 ​ — A3 ​ 3,049 ​ — BRC1 ​ 1,671 ​ 2,336 A1 ​ 1,032 ​ — AAAmmf ​ — ​ 2,162 AA- — 22 Other 20,918 7,145 ​ 14,549,906 5,082,308 ​ See credit risk policy in Note 30.7.

Trade and other receivables

Trade and other receivables	12 Months Ended
	Dec. 31, 2021
Trade and other receivables, net
Trade and other receivables, net	7. Trade and other receivables ​ ​ ​ ​ ​ ​ ​ 2021 2020 Current Customers and concessions Foreign (1) 6,155,070 2,021,070 Domestic (2) 3,355,716 1,913,106 Fuel price stabilization fund (3) 7,824,788 319,927 Accounts receivable from employees 106,547 97,723 Industrial services 32,096 39,651 Related parties (Note 31) ​ 9,355 ​ 105,048 Other (4) 965,310 322,567 ​ 18,448,882 4,819,092 Non–current Customers and concessions ​ ​ ​ ​ Foreign (5) ​ 19,622,925 ​ — Domestic (6) ​ 1,852,111 ​ 51,955 Accounts receivable from employees 534,051 474,693 Related parties (Note 31) ​ 335 ​ — Other (4) 2,150,294 149,959 ​ 24,159,716 676,607 (1) The amount as of December 31, 2021, includes $1,067,581 related to energy power transmission and telecommunication services provided to customers and, $2,238,208 related to foreign concessions to be received from foreign grantors. These services are provided by Interconexión Eléctrica S.A. (2) The amount as of December 31,2021, includes $309,282 related to energy power transmission and telecommunication services provided to customers in Colombia, and $438,411 related to national concessions to be received from the grantor in Colombia. These services are provided by Interconexión Eléctrica S.A. (3) Corresponds to the application of Colombian Resolution 180522 of March 29, 2010, and other regulations that modify and add to it (Decree 1880 of 2014 and Decree 1068 of 2015), which establish the procedure to recognize the subsidy for refiners and importers of current motor gasoline and diesel, and the methodology for calculating the net position (the value arising from the differences between the parity price and the regulated price, which can be positive or negative). For 2021, the increase in accounts receivable is due to the increase in international indicators. Ecopetrol Business Group received payments during 2021 from the Stabilization Fund as follows: Ecopetrol $3,071,000 and Reficar $782,468 corresponding to the settlement of the second half of 2020 and the first half of 2021. (4) Corresponds mainly to accounts receivable from ISA CTEEP to the Government of Brazil for labor benefits defined by Law 4819 of 1958 and crude loan agreements for transportation systems. This retirement supplement plan governed by State Law 4819/58 provides for the creation of a State Social Assistance Fund for employees admitted until May 1974. The company reiterates the understanding of its legal department and its external legal advisors that the expenses derived from State Law 4819/58 and its respective regulations are the total responsibility of SEFAZ-SP (Secretariat of Treasury of the State of São Paulo); therefore, it considers that these values are likely to be received. Management monitors the advances and developments related to the legal aspect of the matter and continuously evaluates the possible impacts on its financial statements. The gross value of these accounts receivable is $1,772,101 , and the provision for expected losses established, included in the provision line for expected credit losses, is $368,299 , for a net book value of $1,403,802 . (5) Corresponds to the accounts receivables related to financial assets from energy transmission companies in Brazil for $13,661,459 , and Peru for $88,939 , and financial assets from toll road concessions in Chile for $5,872,527 . Those amounts were measured in accordance with IFRS 9 and IFRIC 12. (6) Accounts receivable for road concessions in Colombia of Interconexión Eléctrica S.A., which mainly corresponds to construction, operation, and maintenance services for $1,796,456 . The book value of trade and other receivables approximates their fair value. The changes in the allowance for doubtful accounts for the year ended December 31, 2021, 2020 and 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Opening balance 291,144 282,791 268,654 (Recoveries) additions, net (7,459) 16,253 14,158 Effect of business combination (Note 12) ​ 474,654 ​ — ​ — Effect of change of control in subsidiaries (Note 2.2) ​ — ​ (5,517) ​ — Accounts receivable write–off and uses (8,148) (2,383) (21) Closing balance 750,191 291,144 282,791 ​

Inventories

Inventories	12 Months Ended
	Dec. 31, 2021
Inventories, net
Inventories, net	8 . ​ ​ ​ ​ ​ ​ ​ 2021 2020 Crude oil 3,305,965 1,719,426 Fuels and petrochemicals 2,845,486 1,407,297 Materials for the production of goods 2,246,761 1,927,237 ​ 8,398,212 5,053,960 ​ The following are the changes of the allowances for losses for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ 2019 Opening balance (109,549) (131,526) (86,938) (Additions) reversals, net (58,437) (9,748) (44,191) Increase due to business combination ​ (2,837) ​ — ​ — Foreign currency translation (1,449) (122) 371 Effect of change of control in subsidiaries ​ — ​ 20,075 ​ — Other (1) 44,610 11,772 (768) Closing balance (127,662) (109,549) (131,526) (1) It mainly includes the update of the provision in joint operations. Crude oil, fuel and petrochemicals inventories are adjusted to the lowest between the cost and the net realizable value, because of fluctuations in international crude oil prices. The amount recorded for this in 2021 was $23,785 (2020 - $ 9,017 ; 2019 - $ 9,759).

Other financial assets

Other financial assets	12 Months Ended
	Dec. 31, 2021
Other financial assets
Other financial assets	9 . ​ ​ ​ ​ ​ ​ ​ 2021 2020 Assets measured at fair value Investment Portfolio – Local currency 759,892 474,535 Investment Portfolio – Foreign currency 1,172,718 2,494,124 Assets measured at fair value through other comprehensive income ​ 2,789 ​ 732 Hedging instruments(1) 17,449 98,877 Investments in equity securities and trust funds (2) ​ 606,624 ​ — ​ ​ 2,559,472 ​ 3,068,268 Assets measured at amortized cost ​ 375,262 ​ 3,391 ​ 2,934,734 3,071,659 ​ ​ ​ Current 1,627,150 2,194,651 Non–current 1,307,584 877,008 ​ 2,934,734 3,071,659 (1) As of December 31, 2021, corresponds to swap contracts to hedge commodity price risk and forwards contracts to hedge exchange rate risk. (2) They include deposits in trusts companies and restricted funds in Brazil, Peru, Chile, and Colombia. The average return of the investment portfolio in Colombian pesos (local currency) and U.S. dollars (foreign currency) were 2.23% (2020 – 5.6%) and 0.1% (2020 – 2.3%), respectively. Changes in fair value are recognized in financial results (Note 29). 9.1 As of December 31, 2021, and 2020, there were no investments with restricted use, except some resources of Interconexión Eléctrica S.A. ESP, corresponding to long-term restricted funds in Brazil, Peru, Chile and Colombia, which have an specific destination to investment projects for $138,688. 9.2 ​ ​ ​ ​ ​ ​ ​ 2021 2020 Up to 1 year 1,627,150 2,194,651 1 – 2 years 434,372 101,216 2 – 5 years 786,760 573,420 > 5 years 86,452 202,372 ​ 2,934,734 3,071,659 ​ 9.3 The following is the balance of other financial assets by fair value hierarchy level as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ 2021 2020 Level 1 834,057 5,273 Level 2 1,139,457 3,062,995 ​ 1,973,514 3,068,268 ​ There were no transfers between hierarchy levels for the years ended December 31, 2021, and 2020. The securities comprising Ecopetrol Business Group’s portfolio are valued daily according to the instructions issued by the Financial Superintendence of Colombia. To this end, the information provided by authorized entities is used, which includes data from active markets. For cases in which market data is not available, other directly or indirectly observable data is used. For U.S. dollar–denominated investments, fair value is based on information released by Bloomberg, while for investments denominated in Colombian pesos, fair value is provided by Precia, an entity authorized by the Financial Superintendence of Colombia to provide this service. Within the investment valuation hierarchy process, other relevant aspects are considered, such as the issuer’s rating, investment rating and the risk analysis of the issuer performed by the Ecopetrol Business Group. 9.4 The following table reflects the credit quality of the issuers of other financial assets: ​ ​ ​ ​ ​ ​ 2021 2020 AAA ​ 1,158,794 ​ 353,939 BB+ ​ 954,212 ​ — F1+ ​ 319,253 ​ 551,626 B ​ 158,814 ​ — A-1 ​ 119,461 ​ 1,107,777 BRC1+ ​ 75,068 ​ — A+ ​ 42,821 ​ 60,692 A ​ 12,204 ​ 21,179 F3 ​ 8,990 ​ — BB ​ 7,412 ​ — BBB ​ 7,112 ​ — AA+ ​ 6,075 ​ 5,332 BBB- ​ — ​ 758,472 A-3 ​ — ​ 127,861 F1 — 43,839 AA- — 21,263 AA ​ — ​ 7,759 Other 64,518 11,920 ​ 2,934,734 3,071,659 ​ See credit risk policy in Note 30.7.

Taxes

Taxes	12 Months Ended
	Dec. 31, 2021
Taxes
Taxes	10. Taxes 10.1 Current and non-current tax assets and liabilities ​ ​ ​ ​ ​ ​ ​ 2021 2020 Current tax assets Income tax (1) 1,739,542 1,823,027 Credit tax balance (2) 3,108,175 1,311,693 Other taxes (3) ​ 1,426,085 ​ 841,575 ​ 6,273,802 3,976,295 Non-current tax assets ​ ​ ​ ​ Deferred tax assets (4) ​ 9,024,858 ​ 7,673,912 Income tax credits (5) ​ 5,274 ​ 397,821 ​ ​ 9,030,132 ​ 8,071,733 ​ ​ ​ ​ ​ Current tax liabilities ​ ​ Income tax payable (6) 1,298,524 811,197 Industry and commerce tax ​ 247,966 ​ 161,813 National tax and surcharge on gasoline 192,665 137,710 Carbon tax 66,006 64,091 Value added tax (7) ​ 157,452 ​ 5,607 Other taxes (8) 189,491 63,465 ​ 2,152,104 1,243,883 ​ ​ ​ ​ ​ Non-current tax liabilities ​ ​ ​ ​ Deferred tax liabilities (9) ​ 10,850,463 ​ 1,639,206 Income tax payable - work for taxes (10) ​ 65,130 ​ 226,848 Other taxes (11) ​ 1,208,927 ​ — ​ ​ 12,124,520 ​ 1,866,054 (1) Given the payment for self-withholdings during the year, tax discounts like; taxes paid abroad, 50% of the industry and commerce paid, and VAT for the acquisition of real productive fixed assets, a favorable balance is generated for the term. (2) Corresponds mainly to the Ecopetrol´s tax credit value added tax (VAT). (3) Includes the VAT credit derived from the acquisition of real productive fixed assets, following Article 258-1 of the Colombian Tax Code and municipal advance payments and self-withholdings. (4) Corresponds mainly to the loans payable in dollar of Ecopetrol, that increased from 2020 due to the currency devaluation in 2021; also includes the new tax losses of the Refinería de Cartagena S.A.S. (“Reficar”) and Ecopetrol USA, among others. (5) Corresponds to the effective VAT credit paid on the acquisition of real productive fixed assets, which, given the limitations established by law, Ecopetrol could not use in income tax return of the fiscal year 2020 but in 2021. (6) The increase between the prior year, corresponds to the income increase obtained in 2021, due to higher prices and reactivation of the economy. (7) Corresponds mainly to the ISA´s value added tax (VAT). ISA has been part of the Ecopetrol Business Group since August 2021. (8) The variation corresponds mainly to the increase in royalties’ payments, transport tax, among others, due to the improved results in the fiscal year 2021. (9) The variation corresponds mainly to purchase price allocation adjustments related to the acquisition of ISA ($2,795,136) in addition to the consolidation of ISA’s own deferred taxes ($5,082,161). (10) Corresponds to projects that will be ending in 2022 and are reclassified .to the short term. (11) Corresponds mainly to the contributions payable by the ISA group of PIS, CONFIS of CTEEP and subsidiaries located in Brazil 10.2 Income tax In accordance with Law 2010/2019 (Tax Reform) the tax provisions applicable to individual companies in Colombia for the taxable year 2021 and 2020 are the following: - The income tax rate applicable to national companies and foreign entities will be 32% for the year 2020 and 31% for the fiscal year 2021. Law 2155 of 2021 increased the income tax rate from 30% to 35% from the year 2022. - For the year 2020, the presumptive income rate was 0.5% of the taxpayer's net equity from the immediately previous year. From 2021 the applicable tax rate was 0%. - The income tax for tax free trade zone users will be 20%. If the company located in the free zone 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 years 2020 and 2021, Ecopetrol Business Group had subsidiaries that were subject to a 32% and 31%, respectively, income tax rate, subsidiaries located in free trade zones that were subject to a 15% income tax rate depending upon whether they complied with the LSA rules and other subsidiaries in Brazil, Chile, Perú, USA, that were subject to 34%, 27%, 29.5%, 21%, respectively, and other companies 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 Article 137 of the Colombian Tax Code. 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 against ordinary net income obtained in the following 12 taxable years. Statute of limitations of tax returns For the Colombian Companies, 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 can still be reviewed by the tax authorities. The management of Ecopetrol Business Group companies considers that the amounts recorded as liabilities for taxes payable are sufficient and are supported by the law to meet any claim that may be established with respect to such years In Colombia. as of January 1, 2017, the statute of limitations for the income tax return corresponds to three-year (3) counted from the due date to file the return or the filing date, when these have been lately filed. Returns filed by taxpayers that have made transactions, subject to the transfer pricing regulations, have a five-year (5) statute of limitations, for the tax returns that are filed as of January 1, 2020. For the other countries where there are subsidiaries of the Ecopetrol Business Group, the statute of limitations time will depend on the local regulations in each country. In Colombia, for tax returns with favorable balances, the statute of limitations will be 3 years as of the filing date of the request for refunds 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. For the other countries where there are subsidiaries of the Ecopetrol Business Group, the statute of limitations time will depend on the local regulations in each country Income tax expense ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Current income tax (1) 6,975,549 2,861,606 7,117,040 Deferred income tax (2) 1,939,567 (791,824) (2,365,108) Deferred income tax – rate change (3) ​ (28,993) ​ — ​ — Adjustments to prior years’ current and deferred tax(4) (90,860) (31,121) (33,519) Income tax expenses 8,795,263 2,038,661 4,718,413 (1) The variation mainly corresponds to the increase profits due to higher prices and the reactivation of the economy in fiscal year 2021. In 2020 Ecopetrol, calculated income tax under the presumptive income tax method (2) The variation mainly corresponds to the deferred tax asset on fiscal year 2020 tax losses and presumptive income tax of Ecopetrol ($1,266,293), the effect of the exchange rate on loans denominated in foreign currencies, the recognition of the deferred tax asset on excess presumptive income tax of Refinería de Cartagena S.A.S. ($180,562) and the effect of ISA acquisition ($352,906). (3) Corresponds to the effect of the Law 2155 of 2021, which increased the income tax rate from 30% to 35% for 2022 and following years. (4) Corresponds to the difference between the provision and the tax return for fiscal year 2020 filed in 2021, and the effect of the deferred tax not calculated over the tax refund certificates (CERT acronymous in Spanish) in Ecopetrol, among others. Reconciliation of the income tax expenses The reconciliation between the income tax expense and the current tax applicable to the Ecopetrol Business Group in Colombia is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Net income before income tax 26,425,817 4,776,514 19,723,568 ​ Statutory rate 31.0 % 32.0 % 33.0 % Income tax at statutory rate 8,192,003 1,528,484 6,508,777 ​ Effective tax rate reconciliation items: ​ ​ ​ ​ Non–deductible expenses 1,581,472 277,007 295,550 ​ Reversal of deferred tax recognized in prior years ​ — ​ 245,508 ​ — ​ Rate differential adjustment ​ (304,176) ​ 14,974 ​ 132,888 ​ Impairment of non–current assets — — 57,646 ​ Variation in equity accounting method in Invercolsa — — (2,943) ​ Non–taxable income ​ (517,483) ​ (35,471) ​ (524,658) ​ Prior years’ taxes (90,860) (31,121) (33,519) ​ Foreign currency translation and exchange difference (149,035) 59,852 (54,319) ​ Tax discounts and tax credit (173,154) (20,572) (110,857) ​ Ecopetrol U.S.A. adjustment income tax — — (1,550,152) ​ Others ​ 285,489 ​ — ​ — ​ Effect of tax reform (28,993) — — ​ Income tax calculated 8,795,263 2,038,661 4,718,413 ​ Effective tax rate ​ 33.3 % 42.7 % 23.9 % Current 6,940,660 2,583,832 7,127,492 ​ Deferred 1,854,603 (545,171) (2,409,079) ​ ​ 8,795,263 2,038,661 4,718,413 ​ The effective tax rate as of December 31, 2021, is 33.3% (2020 - 42.7%). The decrease from the previous year is mainly due to: a) the profit increase by the higher prices and reactivation of the economy in the fiscal year 2021, b) increase of the non–deductible expenses by the adjustment for exchange differences in the Colombian companies of Ecopetrol Business Group that are US dollar functional currency ($1,192,108) , c) the acquisition of ISA, d) the effect of the companies of the Group with profit that have a nominal rate different from the parent company (Ecopetrol Capital AG - $52,026, Esenttia MB - $51,279, and Ecopetrol Permian - $112,030) e) the effect of the deferred tax not calculated over the Tax refund certificates (CERT acronymous in Spanish) in Ecopetrol, and f) the increase of the income tax rate from 30% to 35%. Deferred income tax ​ ​ ​ ​ ​ ​ ​ 2021 2020 Deferred tax assets 9,024,858 7,673,912 Deferred tax liabilities (10,850,463) (1,639,206) Net deferred income tax (1,825,605) 6,034,706 ​ The detail of deferred tax assets and liabilities is as follows: ​ ​ ​ ​ ​ ​ 2021 2020 Deferred tax assets (liabilities) Loss carry forwards (1) 4,399,754 4,478,606 Provisions (2) 4,029,550 3,187,850 Employee benefits (3) 1,378,161 1,874,242 Accounts payable 13,774 (10,626) Loans and borrowings (4) ​ 2,735,340 ​ 846,019 Accounts receivable – customers and concessions (5) (4,029,534) 183,843 Presumptive income tax excesses (6) 180,563 61,722 Other (7) ​ (1,327,524) ​ 47,269 Goodwill (8) (780,193) (366,346) Property plant and equipment and Natural and environmental resources (9) (8,425,496) (4,267,873) ​ (1,825,605) 6,034,706 (1) In 2021, a deferred tax asset for tax losses carryforwards was recognized in the following companies: - Ecopetrol USA Inc.: losses that expires imasn 20 years (COP$1,591,781) and losses that do not expire (COP$765,914) - Refinería de Cartagena: losses that do not expire (COP$2,027,433) and - Invercolsa: losses that expires in 12 years (COP$14,626). (2) Corresponds to non-deductible accounting provisions, mainly the asset retirement obligation (ARO) provision and asset restoration obligation in Ecopetrol USA. (3) Corresponds to update of the actuarial calculations for health, pensions and bonds, education, and other long-term benefits to employees. (4) Corresponds mainly to the effect in the foreign change (16%) in the fiscal year 2021. (5) It includes mainly the deferred tax related to foreign concessions to be received from foreign grantors of ISA (COP$4,118,455). (6) Corresponds mainly to the effect by recognized deferred tax assets in Refinería de Cartagena (COP$180,563) (7) Mainly related to the effect of business combination Ecopetrol – ISA in intangibles (COP$-997,516) and exploration costs, others, and partnership interest in Ecopetrol USA (COP$28,029, COP$109,156 and COP$- 469,499 ). (8) According to Colombian tax law until the fiscal year 2016, goodwill was subject to amortization for fiscal proposes, while under IFRS it is only allowed to be subject to impairment tests, a difference that results in a deferred tax liability. (9) Relates to deferred taxes on differences between book and tax depreciation and amortization rates, natural and environmental resources, intangibles, and property, plant and equipment have a useful life and a methodology for calculating depreciation and amortization different from those determined under the international accounting standards. This item includes the amount of the capital gains of 10% tax rate applicable to the lands and 35% tax rate for the other fixed assets. It mainly includes the deferred tax related to the business combination ISA (COP$-1,756,893), natural and environmental resources in Ecopetrol (COP$-2,991,429) and Property plant and equipment in Ocensa (COP$-1,141,923), ISA (COP$-500,314), and Refinería de Cartagena (COP$-935,983). Ecopetrol Business Group offsets tax assets and liabilities only if it has a legally enforceable right to offset current tax assets and liabilities and to the extent that they relate to income taxes required by the same tax jurisdictions and tax authorities. Deferred tax details are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss ​ ​ ​ ​ ​ ​ ​ ​ Excess ​ carry ​ ​ ​ Employee Accounts ​ Loans and ​ presumptive ​ forwards Provisions benefits payable ​ borrowings income As of December 31, 2018 ​ 1,002,062 ​ 1,994,762 ​ 1,161,860 ​ 365,646 ​ 827,452 ​ (37,638) Profit or loss ​ 1,548,754 ​ 409,270 ​ (57,343) ​ 345,857 ​ 92,751 ​ 335,911 OCI ​ — ​ — ​ 771,355 ​ — ​ — ​ — As of December 31, 2019 2,550,816 2,404,032 1,875,872 711,503 ​ 920,203 298,273 Profit or loss 1,927,790 783,818 39,608 (722,129) ​ (74,184) (236,551) OCI — — (41,238) — ​ — — As of December 31, 2020 4,478,606 3,187,850 1,874,242 (10,626) ​ 846,019 61,722 Profit or loss (78,852) ​ 841,700 ​ 183,429 ​ 24,400 ​ 2,539,369 ​ 118,841 Increase due to business combinations (ISA acquisition – Note 12) ​ — ​ — ​ — ​ — ​ (650,048) ​ — OCI — ​ — ​ (679,510) ​ — ​ — ​ — As of December 31, 2021 4,399,754 4,029,550 1,378,161 13,774 ​ 2,735,340 180,563 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PPE and ​ ​ ​ ​ ​ ​ ​ Natural ​ ​ ​ Accounts ​ ​ ​ ​ resources Goodwill receivable Others Total As of December 31, 2018 ​ (2,304,140) ​ (404,394) ​ 79,591 ​ (143,717) ​ 2,541,484 Profit or loss ​ (736,296) ​ 40,426 ​ 59,819 ​ 369,930 ​ 2,409,079 OCI ​ — ​ — ​ — ​ (114,520) ​ 656,835 Increase in shareholding in Invercolsa ​ — ​ — ​ — ​ (98,005) ​ (98,005) Foreign currency translation ​ — ​ — ​ — ​ (28,877) ​ (28,877) As of December 31, 2019 (3,040,436) (363,968) 139,410 (15,189) 5,480,516 Profit or loss (844,091) (2,378) 44,433 12,201 928,517 OCI — — — 130,764 89,526 Increase due to business combinations (Guajira association) ​ (383,346) ​ — ​ — ​ — ​ (383,346) Foreign currency translation ​ — ​ — ​ — ​ (80,507) ​ (80,507) As of December 31. 2020 (4,267,873) (366,346) 183,843 47,269 6,034,706 Profit or loss (366,273) (39,627) (94,922) (4,982,668) (1,854,603) Increase due to business combinations (ISA acquisition- Note 12) (3,791,350) (374,220) (4,118,455) 1,056,776 (7,877,297) Deferred tax recognized on ISA dividends (Note 12) ​ — ​ — ​ — ​ (35,033) ​ (35,033) OCI — — — 2,214,661 1,535,151 Foreign currency translation ​ — ​ — ​ — ​ 371,471 ​ 371,471 As of December 31, 2021 (8,425,496) (780,193) (4,029,534) (1,327,524) (1,825,605) Deferred tax assets recognized Deferred tax assets recognized in the consolidated financial statements as of December 31, 2021, and 2020 amounted to (COP$1,825,605) and COP$6,034,706, respectively, and are comprised of the items included in detail of deferred tax assets and liabilities. The Ecopetrol Business Group recognizes deferred tax assets to the extent that it is probable that they will be realized against available sources of income, including forecast of future taxable income. In accordance with the tax rules regulation applicable until December 31, 2016, excess of presumptive income and excess minimum base excesses before 2017 incurred in the income tax and income tax for equity equality - (CREE, as its acronym in Spanish) respectively, may be offset with the ordinary taxable income in the following five (5) years, using for this purpose, the formula established in numeral 6th, of Article 290 of Law 1819/2016. The tax loss carryforwards of Ecopetrol USA generated between 2008 and 2017, expire in 20 years from the year in which they were incurred. The tax loss carryforwards generated starting January 1, 2018, have no expiration date and its use is limited to 80% of taxable income. The movements of deferred income tax for the years as of December 31, 2021, 2020 and 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Opening balance 6,034,706 5,480,516 2,541,484 Deferred tax recognized in profit or loss (1,854,603) 928,517 2,409,079 Increase due to business combination ​ (7,877,297) ​ (383,346) ​ (98,005) Deferred tax recognized in other comprehensive income (a) 1,535,151 89,526 656,835 ISA Differed tax Dividends ​ (35,033) ​ — ​ — Foreign currency translation ​ 371,471 ​ (80,507) ​ (28,877) Closing balance (1,825,605) 6,034,706 5,480,516 (a) ​ ​ ​ ​ ​ ​ ​ ​ December 31. 2021 Pre–tax Deferred tax After tax Actuarial valuation gains (losses) (Note 22.1) (2,456,667) 679,510 (1,777,157) Cash flow hedging for future crude oil exports (Note 30.3) ​ 1,259,269 ​ (450,492) ​ 808,777 Hedge of a net investment in a foreign operation (Note 30.4) ​ 4,579,758 ​ (1,708,348) ​ 2,871,410 Hedge with derivative instruments 191,487 (55,821) 135,666 ​ 3,573,847 (1,535,151) 2,038,696 ​ ​ ​ ​ ​ ​ ​ ​ December 31. 2020 Pre–tax Deferred tax After tax Actuarial valuation gains (losses) (Note 22.1) (137,459) 41,238 (96,221) Cash flow hedging for future crude oil exports (Note 30.3) ​ (1,186) ​ 1,908 ​ 722 Hedge of a net investment in a foreign operation (Note 30.4) ​ 520,490 ​ (156,147) ​ 364,343 Hedge with derivative instruments (78,547) 23,475 (55,072) ​ 303,298 (89,526) 213,772 ​ ​ ​ ​ ​ ​ ​ ​ December 31. 2019 Pre-tax Deferred tax After tax Actuarial valuation gains (losses) (Note 22.1) 2,571,184 (771,355) ​ 1,799,829 Cash flow hedging for future crude oil exports (Note 30.3) ​ (356,339) ​ 118,008 ​ (238,331) Hedge of a net investment in a foreign operation (Note 30.4) 87,524 ​ (26,257) ​ 61,267 Hedge with derivatives instruments (69,220) 22,769 ​ (46,451) ​ 2,233,149 (656,835) ​ 1,576,314 ​ ​ Deferred tax assets not recognized Deferred tax assets related to the tax loss carryforwards incurred by the subsidiaries Andean Chemicals Ltd (COP$1,852) and subsidiaries of ISA Group: Ruta del Bosque – Chile - (COP$35,511), Ruta del Maule - Chile - (COP$27,404), Ruta Costera – Colombia - (COP$932), ISA Intervial Colombia (COP$541), ISA Capital Do Brasil (COP$15,983), Internexa Brasil Operadora de Telecomunicações (COP$69,358), Internexa Participações – Brasil - (COP$2,122) e ISA Bolivia (COP$1,831), excess of presumptive income of Hocol Petroleum Company, and Andean Chemicals Ltd in the amount of COP$12,077 and COP$4.332, respectively, were not recognized, as the Management determined that it is not probable that these deferred tax assets will be recoverable in the foreseeable future. If the Ecopetrol Business Group had recognized this deferred tax asset, the profit for the year ending December 31, 2021 would have increased by COP$171,943. Deferred tax liabilities not recognized As of December 31, 2021, in connection with paragraph 39 of IAS 12, deferred tax liability was not recognized on the difference between the accounting and tax basis associated with investments in Ecopetrol subsidiaries, associates and joint ventures (Base: COP$ -3,902,439 - Tax: COP$ -390,244) and ISA subsidiaries (Base: COP$-5,039,019 - Tax: COP$ - 503,902). Uncertain tax positions - IFRIC 23 Ecopetrol Business Group’s strategy is to avoid making aggressive tax decisions that may cause questioning of its tax returns, by tax authorities. Regarding uncertain tax positions where it has been determined that there may be a possible controversy with the tax authority that could result in an income tax increase, a success threshold has been established by IFRIC 23, which has been calculated based on current regulations and tax opinion provided by our tax advisors. In accordance with the aforementioned interpretation, the Ecopetrol Business Group considers that uncertain tax positions include in its determination of income tax will not affect the results if it is probable that the position will be accepted by the tax authorities. Notwithstanding, the Ecopetrol Business Group will continue to monitor new tax regulations and ruling issued by the tax authority and other entities. 10.2.1. Dividend taxes Dividends related to profits generated from the year ended December 31, 2017 will be subject to withholding at a rate of 7.5% for 2020 and 2021, for resident companies and 10% for non-resident shareholders (companies and individuals). Further, if the earnings against which the dividends are distributed were not subject to corporate tax, these dividends are taxable by the income tax applicable during the distribution period (for 2021 the rate is 31%). In this scenario, the 7.5% or 10% tax on dividends will be applicable to the distributed amount, once it is reduced by the 31% in 2021 (32% in 2020) income tax rate. The non-taxed dividends that the Company will receive will not be subject to withholding tax due to the express provision of the regulation that establishes the dividends that are distributed within Ecopetrol Business Groups duly registered with the Chamber of Commerce and decentralized entities; they will not be subject to withholding tax for this concept. ​ 10.2.2. Transfer prices According to the Colombian tax law, income taxpayers who enter transactions with related parties or related parties located in foreign jurisdictions and in free trade zones or with residents located in jurisdictions considered tax havens, are obliged to determine their ordinary and extraordinary income for purposes of the income tax, its costs and deductions, considering for these operations the arm’s length principle. Ecopetrol filed in 2021 its transfer pricing informative return for the 2020 taxable year, and its corresponding supporting documentation, as well as the country-by-country report and the master file for the same year, following the current tax law. For fiscal year 2021, related-party transactions in foreign jurisdictions, as well as the business conditions under which said operations were carried out and the general structure did not vary significantly with respect to the previous year. For this reason, these transactions were carried out in accordance with the arm’s length principle. It is estimated that there will be no need for adjustments derived from the analysis of transfer prices for 2021, which imply changes in the income provision of the taxable year 2021. 10.2.3. Value Added Tax (VAT) Law 2010/2019 established that VAT paid on the import, creation, construction or acquisition of real productive fixed assets, may be treated as a tax credit for income tax purposes. This VAT cannot be assumed simultaneously as a cost or expense in the income tax and is not allowed to be discounted from the VAT return. 10.2.4. Law 2010 of 2019 The Government issued the Law 2010/2019, which makes numerous changes to the Colombian tax rules. The Tax Reform reduces the corporate income tax (CIT) rate from 33% in 2019 to 32% for 2020 and 31% for 2021. The presumptive income tax rate (i.e., an alternative based The thin capitalization rule ratio is modified from 3:1 (which includes all debt that generates interest with local and foreign entities, related or unrelated) to a 2:1 ratio that only considers debt transactions involving related local and foreign parties (including back-to-back transactions involving foreign third parties). Tax on dividends As of January 1, 2020, the Tax Reform establishes a 7.5% dividend tax on distributions between Colombian companies. The tax will be charged only on the first distribution of dividends between Colombian entities and may be credited against the dividend tax due once the ultimate Colombian company makes a distribution to its shareholders (nonresident shareholders (entities or individuals) or to Colombian individual residents). The dividend tax on local distributions does not apply if the Colombian companies are part of a registered economic Ecopetrol Business Group, or the distribution is to a Colombian entity qualifying for the new Colombian holding company (CHC) regime. Normalization tax The Tax Reform establishes a tax amnesty to “normalize” (i) unreported assets; or (ii) nonexistent liabilities that were included on a tax return. The amnesty will apply only for 2020 (September 25, 2020 is the due date for filing the normalization tax). The applicable tax rate is 15% of the value of the unreported assets or nonexistent liabilities. Value Added Tax Law 2010 of 2019 established that VAT paid on the import, construction or acquisition of real productive fixed assets may be deducted from taxable income. This VAT cannot be reported simultaneously as a cost and expense in the income tax return, nor will it be discounted from the sales tax. Concerning VAT, changes have been made to the list of goods and services excluded from VAT as set forth in Articles 424, 426 and 476 of the Tax Code, adding Article 437 to the Tax Code, with regard to guidelines on compliance with formal duties concerning VAT by service providers abroad, and it has been noted that VAT withholding may be up to 50% of the tax amount, subject to regulation by the National Government. The VAT rate remains at 19%. Tax procedures With regards to procedure, the following changes have been made: (i) withholding tax returns which, being considered ineffective, will be enforceable, (ii) electronic notification of administrative acts; (iii) payment of the entire amount covered by a statement for objections to avoid late interest at the current rate plus two points; and (iv) elimination of the extension of the status of limitations to three (3) additional years due to tax losses offset and (v) a five-year status of limitations for those taxpayers who must comply with the transfer pricing regime. Additionally, an audit benefit was included for fiscal years 2020 to 2021. Under this benefit, the income tax returns that reflect an increase in the net income tax of at least 30%, or 20% over the net income tax of the immediately preceding year, shall be considered firm for six (6) or twelve (12) months, respectively after the date of presentation if not notified of a deadline for correction or special requirement, or a special deadline or provisional settlement, provided that the return is filed timely and the payment is made within the established deadlines. The above benefit does not apply to: (i) taxpayers who have access to tax benefits due to their location in a specified geographic region; (ii) if it is demonstrated that the withholding taxes reported are non-existent; (iii) if the net income tax is less than 71 UVT (COP $2,6 10.2.5. Tax reform – Tax Law 2155/2021 The Tax Reform increase the corporate income tax (CIT) to 35% for 2022 and onwards and maintained credit for 50% of the industry and commerce paid. And introduced other changes in value-added tax and tax procedure obligations. Prior to the issuance of the tax law mentioned, the income tax rate for the year 2022 was 30% and the Industry and Commerce Tax discount was 100%. Audit benefit: Works for Taxes ​ 10.2.6. Others According to the opinions of economic analysts, it is expected that in the second half of fiscal year 2022, the National Government will present a tax reform that may have effects on the calculation of income tax of the companies. For income tax, this tax reform would have effects from January 1, 2023.

Other assets

Other assets	12 Months Ended
	Dec. 31, 2021
Other assets
Other assets	11. Other assets ​ ​ ​ ​ ​ ​ ​ 2021 2020 Current Partners in joint operations (1) 639,199 534,145 Advanced payments to contractors and suppliers 591,990 503,698 Prepaid expenses 549,456 369,979 Trust funds (2) ​ 527,520 ​ 218,158 Related parties (Note 31) 1,386 7,093 Other assets 23,540 30,963 ​ 2,333,091 1,664,036 Non–current ​ ​ Abandonment and pension funds (3) 461,729 405,376 Employee benefits 229,969 221,658 Trust funds (2) 176,781 338,067 Advanced payments and deposits 92,815 54,392 Judicial deposits and attachments 48,845 42,672 Other assets (4) 188,224 27,949 ​ 1,198,363 1,090,114 (1) Corresponds to the net amount 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 (ANH), as well as through association contracts and other types of contracts. (2) Mainly includes the resources invested in trust fund destined to “works for taxes”, mechanism of payment of the income tax of 2019 and 2020, constituted in compliance with article 238 of Law 1819 of 2016 - Tax reform. (3) Mainly corresponds to Ecopetrol’s share in trusts funds 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) Increase due to the consolidation of ISA Group. This concept includes advances to suppliers and other non-current assets. ​

Business combinations

Business combinations	12 Months Ended
	Dec. 31, 2021
Business combinations
Business combinations	12. Business combinations On August 20, 2021, Ecopetrol S.A completed the acquisition of Interconexión Eléctrica S.A. ESP ("ISA"). On such date, the closing conditions of the Inter-Administrative Agreement signed on August 11 between Ecopetrol S.A. and the Colombian Ministry of Finance and Public Credit ("MHCP") for the acquisition of $569,472,561 shares of ISA equivalent to 51.4% of the outstanding shares were fulfilled. On August 20, 2021, Ecopetrol S.A. acquired control of ISA. As ISA was controlled by the Ecopetrol Bussiness Group´s controlling shareholders the transaction was between entities under common control. ​ The acquisition of ISA represents a transformational step for the Ecopetrol Business Group in the development of the strategy of energy transition, decarbonization and diversification of the business. With this acquisition, the Ecopetrol Business Group is positioned, through a single operation, as a key player in the electricity business, with prospects for future growth. As of December 31, 2021, ISA is a multi-Latin business group with operations in the Electric Power Transmission, Toll Roads Concessions and Telecommunications businesses, through 50 subsidiaries, 11 joint ventures and 1 associate, in 6 countries in South and Central America. Acquired assets and assumed liabilities at the date of acquisition ​ ​ ​ ​ ​ Fair Value Assets Cash and cash equivalents 4,983,234 Accounts receivable 27,487,774 Inventories 120,300 Other financial assets 1,093,941 Current tax assets 477,504 Other assets 682,445 Investments in subsidiaries and joint ventures (Note 13) (1) 5,014,749 Properties, plant, and equipment (Note 14) (2) 17,640,458 Right of use assets (Note 16) (3) 230,207 Intangibles (Note 17) (4) 14,326,479 Deferred tax assets (Note 10.2) ​ 2,075,849 Total assets ​ 74,132,940 Liabilities ​ ​ Loans (Note 20) ​ 27,203,432 Leases (Note 16) (3) ​ 255,503 Accounts payable ​ 1,358,692 Employee Benefits ​ 973,210 Tax liabilities ​ 1,897,786 Provisions and contingencies (Note 23) (5) ​ 947,883 Other liabilities ​ 1,708,349 Deferred tax liabilities (Note 10.2) ​ 9,953,146 Total liabilities ​ 44,298,001 Total identifiable net assets ​ 29,834,939 ​ ​ Non-controlling interest (6) (18,973,080) Goodwill derived from the acquisition (7) 3,038,977 Consideration transferred (8) 13,900,836 1. The details of the fair values on the date of acquisition in associates and joint ventures are as follows: ​ ​ ​ ​ Company Fair Value Joint Ventures ​ ​ Transmissora Aliança de Energia Elétrica S.A. 1,496,926 Interligação Elétrica do Madeira S.A. 1,446,019 Interligação Elétrica Paraguaçu S.A. 396,753 Interligação Elétrica Garanhuns S.A. 365,533 Interligação Elétrica Aimorés S.A. 269,484 Interligação Elétrica Ivaí S.A. 249,539 Interconexión Eléctrica Colombia Panamá S.A. 6,412 Derivex S.A. 489 Parques de Rio 96 Interconexión Eléctrica Colombia Panamá S.A.S E.S.P. 4 ​ 4,231,255 Associated ATP Tower Holdings 783,494 ​ 783,494 Total investments in joint ventures and associated companies 5,014,749 ​ The fair value of the associates and joint ventures adjustment was $1,281,598 and was determined by the methodologies of discounted cash flows, market value and market multiples. The companies Interligação Elétrica Garanhuns S.A., Interligação Elétrica do Madeira S.A., Interligação Elétrica Ivaí S.A, Interligação Elétrica Aimorés S.A. and Interligação Elétrica Paraguaçu S.A. were valued by discounted cash flows, Transmissora Aliança de Energia Elétrica (TAESA) was valued at market value and the other joint and associated businesses were valued by market multiples. The fair value adjustment of associates and joint ventures totaled $1,281,598, of which $558,659 relates to Transmissora Aliança de Energia Elétrica S.A. (TAESA) and $367,659 relates to ATP. The key assumptions for TAESA’s valuation were the number of shares held by ISA, the share market price and the exchange rate; whereas for ATP’s valuation were: the Price to Book value multiple for telecommunication comparable companies and ATP’s equity book value. The remaining other companies were valued by discounted cash flows. 2. The fair value adjustment of the property, plant and equipment amounts to $5,233,557. The methodologies used to estimate the fair value of the property, plant and equipment and the transmission line easements were the replacement cost and market value estimate through quotations of similar assets. The key assumptions used to estimate the fair value of those assets were: replacement value of fixed assets, market quotations, and the assets useful lives. 3. Ecopetrol measured the acquired lease liabilities by discounting the future lease payments for the remaining lease terms using the Ecopetrol Business Group incremental borrowing rate at the date of acquisition. Right-of-use assets were measured at an amount equal to lease liabilities. 4. The fair value adjustment of intangible assets with contractual rights was $4,596,134 and were valued by the Multi – period Excess Earnings Method (MEEM) methodology, including the contractual rights’ fair value’s estimates were calculated based on the contractual revenues and the adjusted operational margin of each intangible. The projected operational profit was deducted by the corresponding income tax rate applicable in the jurisdiction, and the estimated contributory asset charges. The projected excess earning was discounted to present value using the entities’ discount rate (WACC, which included an intangible asset premium). 5. The fair value adjustment of contingent liabilities which are defined as present obligations that arise from past events and their fair value can be measured reliably was $225,983 and it was determined based on the advice of its legal advisors based on the expected likely outcome of the disputes. 6. The non-controlling interest fair value adjustment was measured based on the proportionate share in the recognized amounts of the acquiree’s identifiable net assets. It has two main components: (i) the non-controlling interest fair value adjustment in ISA’s subsidiaries, mainly ISA CTEEP, ISA REP, and Consorcio Transmantaro ($ 890,575); and (ii) the non-controlling interest from Ecopetrol in ISA ($ 10,265,482). The former corresponds mainly to the fair adjustment of the non-controlling shares in the following subsidiaries of ISA: ISA CTEEP, ISA REP and Consorcio Transmantaro. The later corresponds to the fair value of 48.59% of the equity attributable to ISA’s non-controlling shareholders, which was not acquired by Ecopetrol. 7. Goodwill from the acquisition was allocated to the Electric Power Transmission and Toll Roads Concessions Segment. Goodwill represents the future profitability of the businesses and potential upsides such as the possibility to expand some of the existing businesses, management’s know-how to identify new business opportunities and to finance them. Recognized Goodwill is not deducted for tax purposes in Colombia. 8. The consideration transferred corresponds to the payment made to the former controlling shareholder of ISA, reduced by the dividends received at the time of closing the transaction. Deferred tax liability comprises primarily the temporary differences generated between the tax bases of plant and equipment property assets and intangibles assets measured at fair value and the ISA dividend payment, using the statutory rate enacted in corresponding jurisdiction. From the date of the acquisition until December 31, 2021, ISA contributed $4,113,198 to the consolidated revenue and $1,108,202 (including non-controlling interest for $846,454) to the consolidated net profit. If the acquisition had occurred on January 1, 2021, management estimates that consolidated revenue and consolidated net income for the year would have been higher by $7,039,487 and $2,096,511 (including non-controlling interest for $1,501,984), respectively. Analysis of the cash flow of the acquisition: ​ ​ ​ ​ Consideration paid in cash (14,236,814) Dividends received by Ecopetrol from ISA (1) 371,011 Consideration transferred (included in investment activities) (2) (13,865,803) Cash acquired with the business combination (included in investing activities) 4,983,234 Acquisition-related costs (3) (69,018) Costs related to the issuance of debt (included in financing activities) (Note 20) (42,699) Acquisition cash flow, net (8,994,286) (1) In December 2021, ISA paid dividends to Ecopetrol of $371,011, constituting a deferred tax of $35,033, which was offset from the consideration transferred to be transferred as per the provisions of the acquisition agreement. (2) For the consolidated cash flow purposes, the consideration transferred does not include deferred taxes on dividends ($35,033) given that it is a non-cash item . (3) Acquisition-related costs correspond to fees for legal and financial advice and commissions.

Investments in associates and j

Investments in associates and joint ventures	12 Months Ended
	Dec. 31, 2021
Investments in associates and joint ventures
Investments in associates and joint ventures	13. Investments in associates and joint ventures The details on the participations, economic activity, address, area of operations and financial information of the investments in joint ventures and associates can be found in Exhibit 1. 13.1 ​ ​ ​ ​ ​ ​ ​ 2021 2020 Joint ventures Equion Energía Limited 1,860,634 1,642,735 Transmissora Aliança de Energia Elétrica S.A. ​ 1,496,060 ​ — Interligação Elétrica do Madeira S.A. ​ 1,374,483 ​ — Interligação Elétrica Paraguaçu S.A. ​ 412,526 ​ — Interligação Elétrica Garanhuns S.A. ​ 363,498 ​ — Interligação Elétrica Ivaí S.A. ​ 288,224 ​ — Interligação Elétrica Aimorés S.A. ​ 278,408 ​ — Ecodiesel Colombia S.A. ​ 64,019 ​ 51,672 Interconexión Eléctrica Colombia Panamá S.A. ​ 8,737 ​ — Derivex S.A. ​ 448 ​ — Parques de Rio ​ 93 ​ — Interconexión Eléctrica Colombia Panamá S.A.S E.S.P. ​ 4 ​ — Offshore International Group (1) ​ — ​ 613,258 ​ 6,147,134 2,307,665 Less impairment: Equion Energía Limited (398,104) (314,460) Offshore International Group (1) — (609,826) ​ 5,749,030 1,383,379 Associates ​ Gases del Caribe S.A. E.S.P. 1,515,838 1,512,629 ATP Tower Holdings 813,697 — Gas Natural del Oriente S.A. E.S.P. 142,508 143,893 Gases de la Guajira S.A. E.S.P. ​ 69,461 ​ 69,518 E2 Energía Eficiente S.A. E.S.P. ​ 35,062 ​ 35,614 Extrucol S.A. ​ 28,578 ​ 26,996 Serviport S.A. ​ 9,399 ​ 8,541 Sociedad Portuaria Olefinas ​ 3,012 ​ 2,599 ​ 2,617,555 1,799,790 Less impairment: Serviport S.A. (9,399) (8,541) ​ 2,608,156 1,791,249 ​ 8,357,186 3,174,628 (1) On January 19, 2021, through the signing of the Share Purchase Agreement with one of the subsidiaries of De Jong Capital LLC., in its capacity as buyer, Ecopetrol formalized the sale of all the shares in the company Offshore International Group (OIG), in which it had a participation equivalent to 50%. This operation generated the following impacts on the results of the period: profit from the sale of assets for $4,923 and the realization of other comprehensive income for $361,728. The following is the movement of investments in associates and joint ventures: For the year ended December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Opening balance 1,791,249 1,383,379 3,174,628 Capitalization ​ — ​ 44,735 ​ 44,735 Business combination (Note 12) ​ 783,494 ​ 4,231,255 ​ 5,014,749 Effects of equity method through: ​ ​ ​ Profit or loss 193,367 232,797 426,164 Other comprehensive income 12,142 121,856 133,998 Dividends declared (1) (171,238) (177,870) (349,108) Impairment (Note 18) ​ (858) ​ (83,644) ​ (84,502) Foreign currency translation — (3,478) (3,478) Closing balance 2,608,156 5,749,030 8,357,186 (1) During 2021, the Group received dividends of $206,048 from Ecodiesel, Transmissora Aliança de Energia Elétrica S.A., Interligação Elétrica do Madeira S.A., Gas Natural del Oriente S.A. E.S.P, Gases del Caribe S.A. E.S.P., Extrucol S.A., Gases de la Guajira S.A. E.S.P. and Efficient Energy S.A. E.S.P. For the year ended December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Opening balance 1,826,757 1,418,315 3,245,072 Effects of equity method through: ​ ​ ​ Profit or loss 114,779 (38,443) 76,336 Other comprehensive income (2,923) — (2,923) Dividends declared (1) (148,665) (9,017) (157,682) Impairment reversal (loss) (Note 18) 2,529 ​ (69,041) ​ (66,512) Foreign currency translation ​ (1,228) 81,565 80,337 Closing balance 1,791,249 1,383,379 3,174,628 (1) During 2020, the Group received dividends of COP$157,241 (2019 - COP$189,169) from its investments. For the year ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Opening balance 244,662 1,599,674 1,844,336 Effects of equity method through: ​ ​ ​ ​ ​ Profit or loss 109,538 257,366 366,904 Other comprehensive income (174,991) 4,531 (170,460) Dividends declared (75,674) (4,192) (79,866) Impairment reversal (loss) (Note 18) 142 (318,962) (318,820) Foreign currency translation and other movements (1) ​ 1,723,080 ​ (120,102) ​ 1,602,978 Closing balance 1,826,757 1,418,315 3,245,072 (1) Invercolsa S.A. became a subsidiary as of November 29, 2019, thus the direct investments of Invercolsa in Gases del Caribe S.A. E.S.P., Gas Natural del Oriente S.A. E.S.P., Gases de la Guajira S.A. E.S.P., Extrucol S.A., E2 Energía Eficiente S.A. E.S.P., became direct investments of the Group as of the consolidation. 13.2 The following is the detail of assets, liabilities, and results of the main investments in associates and joint ventures, as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ Interligação ​ Transmissora ​ Equion ​ Equion ​ Offshore ​ ​ Elétrica do ​ Aliança de ​ Energía ​ Energía ​ International ​ Madeira Energia Elétrica ​ Limited Limited Group Statement of financial position ​ ​ Current assets 593,389 1,233,296 ​ 3,054,020 2,616,813 266,240 Non–current assets 4,432,664 8,985,539 ​ 3,850 13,538 1,302,555 Total assets 5,026,053 10,218,835 ​ 3,057,870 2,630,351 1,568,795 Current liabilities 325,049 711,592 ​ 62,157 81,259 154,086 Non–current liabilities 2,196,231 4,633,422 ​ 35,316 49,773 871,089 Total liabilities 2,521,280 5,345,014 ​ 97,473 131,032 1,025,175 Equity 2,504,773 4,873,821 ​ 2,960,397 2,499,319 543,620 Other complementary information ​ ​ ​ ​ ​ ​ Cash and cash equivalents 207,703 128,256 ​ 106,858 36,601 110,622 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 ​ ​ Interligação ​ Transmissora ​ Equion ​ Equion ​ Offshore ​ Equion ​ Offshore ​ ​ Elétrica do ​ Aliança de ​ Energía ​ Energía ​ International ​ Energía ​ International ​ Madeira Energia Elétrica ​ Limited Limited Group Limited Group Statement of profit or loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales revenue 639,356 2,953,672 ​ 63,169 257,066 325,812 1,285,891 529,167 Costs (18,021) (450,666) ​ (45,201) (127,672) (364,750) (671,179) (690,484) Other operating income (expenses), net — (117,526) ​ (8,553) 60,852 (234,597) (624) (64,115) Financial (expenses) income (129,094) (562,549) ​ 65,611 (1,090) (24,034) (3,660) (31,288) Income tax (expense) (112,574) (285,702) ​ (22,091) (45,137) 59,818 (214,048) 208,473 Financial year results 379,667 1,537,229 ​ 52,935 144,019 (237,751) 396,380 (48,247) Other comprehensive results — 15,599 ​ 1,632,400 1,223,990 — 1,102,757 — Other complementary information ​ ​ Depreciation and amortization 3,708 15,076 ​ 399 41,536 205,243 404,482 226,654 ​ This is a reconciliation of equity of the significant investments and the carrying amount of investments as of December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ ​ Interligação ​ Transmissora ​ Equion ​ Equion ​ Offshore ​ ​ Elétrica do ​ Aliança de ​ Energía ​ Energía ​ International ​ Madeira Energia Elétrica Limited ​ Limited Group Equity of the joint venture 2,504,773 4,873,821 2,960,397 ​ 2,499,319 543,620 ​ % of Ecopetrol’s ownership 51 % 14.88 % 51 % 51 % 50 % Ecopetrol’s ownership 1,277,434 725,185 1,509,802 ​ 1,274,654 271,811 ​ Additional value of the investment — 197,070 375,694 ​ 375,693 341,447 ​ Impairment — — (398,104) ​ (314,460) (609,826) ​ Unrealized gain ​ — ​ — ​ (24,862) ​ (7,612) ​ — ​ Carrying amount of the investment 1,277,434 922,255 1,462,530 ​ 1,328,275 3,432 ​ ​ According to the equity method recognized in profit and loss by Ecopetrol Business Group in aggregated amount for separately not significant joint ventures and associates correspond to $85,509 and $193,367, respectively.

Property, plant, and equipment

Property, plant, and equipment	12 Months Ended
	Dec. 31, 2021
Property, plant, and equipment
Property, plant, and equipment	14. Property, plant, and equipment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plant Pipelines, ​ ​ ​ ​ ​ ​ ​ and ​ networks ​ Work in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ equipment ​ and 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 1,958,132 1,657,967 1,854,907 434,438 4,965 207,179 6,117,588 Increase by business combination (Note 12) 184,303 14,860,422 1,521,181 557,224 395,828 121,500 17,640,458 (Decrease) increase in abandonment costs (Note 23) (182,172) (104,101) (1,673) (3,494) — 127 (291,313) Capitalized financial interests (1) ​ 53,740 ​ 29,435 ​ 29,209 ​ 12,491 ​ 160 ​ 6,129 ​ 131,164 Exchange differences capitalized 1,371 751 745 319 4 156 3,346 Disposals ​ (312,646) ​ (81,967) ​ (9,344) ​ (25,530) ​ (4,164) ​ (37,560) ​ (471,211) Foreign currency translation 4,946,012 1,646,079 164,778 204,496 257,988 120,110 7,339,463 Transfers/reclassifications (284,678) 252,353 (507,917) 67,814 32,690 (91,442) (531,180) Balance as of December 31, 2021 ​ 57,452,843 ​ 55,402,633 ​ 10,566,114 ​ 9,660,227 ​ 4,800,297 ​ 3,018,660 ​ 140,900,774 ​ 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 (2,420,045) (1,723,300) — (381,978) — (116,923) (4,642,246) Reversal (loss) of an impairment (Note 18) 24,888 (22,346) (312,009) 12,790 16,403 (858) (281,132) Disposals ​ 276,225 ​ 66,555 ​ 421 ​ 18,152 ​ 34 ​ 31,355 ​ 392,742 Foreign currency translation (1,726,218) (434,365) (1,550) (73,136) (5,500) (61,416) (2,302,185) Transfers/reclassifications 403,182 6,428 56,994 (6,357) — 2,447 462,694 Balance as of December 31, 2021 ​ (24,698,837) ​ (19,665,052) ​ (1,279,600) ​ (4,059,253) ​ (67,611) ​ (1,053,895) ​ (50,824,248) Net 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 Net balance as of December 31, 2021 32,754,006 35,737,581 9,286,514 5,600,974 4,732,686 1,964,765 90,076,526 (1) Financial interest is capitalized based on the weighted average rate of loan costs. See Note 20 – Loans and financing. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plant Pipelines, ​ ​ ​ ​ ​ ​ ​ and ​ networks ​ Work in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ equipment ​ and lines ​ progress ​ Buildings ​ Lands ​ Other ​ Total Cost Balance as of December 31, 2019 47,995,471 36,370,647 6,259,654 8,157,945 4,054,538 2,660,232 105,498,487 Additions/capitalizations (1) 1,625,316 1,179,602 1,573,469 390,731 18,705 244,494 5,032,317 Increase in abandonment costs (Note 23) 181,318 15,035 — 3,885 — 3,126 203,364 Capitalized financial interests (2) 42,052 31,511 38,756 14,965 753 8,324 136,361 Exchange differences capitalized 1,338 1,002 1,233 476 24 265 4,338 Disposals (491,677) (84,184) (79,077) (16,390) (10,155) (85,785) (767,268) Effect of control loss in subsidiaries (3) ​ (298,570) ​ (592,885) ​ (775) ​ (266,526) ​ (60,341) ​ (144,189) ​ (1,363,286) Adjustment on fair value for business combination (4) ​ 547,965 ​ 44,538 ​ — ​ 54,413 ​ — ​ 73,754 ​ 720,670 Foreign currency translation 1,336,351 478,103 19,804 59,107 73,181 29,876 1,996,422 Transfers /reclassifications 149,217 (301,675) (298,836) 13,863 36,121 (97,636) (498,946) 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 Accumulated depreciation and impairment losses Balance as of December 31, 2019 (19,035,642) (16,635,110) (1,114,366) (3,456,254) (80,682) (961,611) (41,283,665) Depreciation expense (2,296,176) (1,634,545) — (341,052) — (113,207) (4,384,980) (Loss) reversal of an impairment (Note 18) (368,754) 329,743 (327,751) (18,074) 8,799 (8,601) (384,638) Disposals 443,259 75,150 3,492 14,279 11 82,310 618,501 Effect of control loss in subsidiaries (3) ​ 266,825 ​ 403,095 ​ 262 ​ 221,708 ​ 30,669 ​ 108,081 ​ 1,030,640 Foreign currency translation (306,506) (155,927) 959 (13,707) 3,403 (9,738) (481,516) Transfers/reclassifications 40,125 59,570 413,948 (35,624) (40,748) (5,734) 431,537 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) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net balance as of December 31, 2019 28,959,829 19,735,537 5,145,288 4,701,691 3,973,856 1,698,621 64,214,822 Net 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 (1) Includes capitalizations for the acquisition of Guajira association by Hocol for a value of COP $361,426 . (2) Financial interests are capitalized based on the weighted average rate of borrowing costs. See Note 20 - Loans and borrowings. (3) See effects of control loss in subsidiaries in Note 28. (4) On November 22, 2019, Hocol S.A. – a 100% subsidiary of Ecopetrol Business Group – signed a Purchase Agreement and Sale of Assets with “Chevron” to acquire the entire stake owned by the latter in the Guajira Association ( 43% of the association contract) and its position as operator.

Natural and environmental resou

Natural and environmental resources	12 Months Ended
	Dec. 31, 2021
Natural and environmental resources
Natural and environmental resources	15. Natural and environmental resources ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Oil ​ Asset retirement ​ 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) 4,032,780 60,618 2,639,630 6,733,028 Increase in abandonment costs (Note 23) — 778,925 13,256 792,181 Disposals (3,497) (484) (69,908) (73,889) Withdrawal of exploratory assets and dry wells (2) — — (486,408) (486,408) Capitalized financial interests (3) 99,786 — 24,757 124,543 Exchange differences capitalized 2,546 — 632 3,178 Foreign currency translation 1,979,171 101,866 767,117 2,848,154 Transfers/reclassifications 4,751,417 (78) (4,544,665) 206,674 Balance as of December 31, 2021 76,229,481 8,172,698 7,212,305 91,614,484 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depletion and impairment losses Balance as of December 31, 2020 (46,106,147) (2,981,449) (445,268) (49,532,864) Depletion expense (3,803,027) (1,193,454) — (4,996,481) Reversal of impairment (Note 18) 305,016 — 59,111 364,127 Disposals 500 — 31,214 31,714 Foreign currency translation (1,401,121) (41,610) — (1,442,731) Transfers/reclassifications (311,565) (14,161) 197,321 (128,405) Balance as of December 31, 2021 (51,316,344) (4,230,674) (157,622) (55,704,640) Net balance as of December 31, 2020 19,261,131 4,250,402 8,422,626 31,934,159 Net balance as of December 31, 2021 24,913,137 3,942,024 7,054,683 35,909,844 (1) Includes: a) Ecopetrol Permian for investments made in the drilling of wells and construction of facilities executed in RODEO, b) Ecopetrol for the Llanito, Purple Angel, Casabe and Offshore Tayrona fields. and c) Hocol mainly in Mamey 3, Pintado, Pozo Toldado, SN-8, Rc7 Pozo Basari, Ocelote, SSJN1, VIM8 and Saman. d) Ecopetrol America for Rydber and K2 e) Ecopetrol Brazil for the Gato do Mato project. (2) Mainly includes the Moyote well by Ecopetrol México, Ecopetrol S.A. mainly the Aguas Blancas, Alqamari-1, Nafta-1, Lorito Este 1, Boranda Centro 1 and Chimuelo 1 wells, Hocol Chacha 2 well, Ecopetrol América the well Silverback #1 and Silverback #2 and by Ecopetrol Brasil Ceará. Additionally, Hocol includes exploration expenses. (3) Financial interests are capitalized based on the weighted average rate of loan costs. See Note 20 – Loans and borrowings. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset Exploration ​ ​ ​ Oil ​ retirement ​ and ​ ​ ​ ​ investments ​ cost ​ evaluation ​ Total Cost Balance as of December 31, 2019 59,822,566 5,036,884 8,362,719 73,222,169 Additions/capitalizations (1) 3,659,270 123,446 2,211,746 5,994,462 Increase in abandonment costs (Note 23) — 2,075,992 28,097 2,104,089 Disposals (1,806) 260 (223,805) (225,351) Withdrawal of exploratory assets and dry wells (2) — — (448,132) (448,132) Capitalized financial interests (3) 111,140 — — 111,140 Exchange differences capitalized 3,535 — — 3,535 Adjustment at fair value for business combinations (4) ​ 563,546 ​ — — ​ 563,546 Foreign currency translation 440,978 23,353 (138,809) 325,522 Transfers/reclassifications 768,049 (28,084) (923,922) (183,957) Balance as of December 31, 2020 65,367,278 7,231,851 8,867,894 81,467,023 Accumulated depletion and impairment losses Balance as of December 31, 2019 (41,993,097) (2,156,274) — (44,149,371) Depletion expense (3,810,349) (831,909) — (4,642,258) Reversal (loss) of impairment (Note 18) 116,403 — (334,112) (217,709) Disposals 213 (40) 93,975 94,148 Foreign currency translation (310,894) (14,546) — (325,440) Transfers/reclassifications (108,423) 21,320 (205,131) (292,234) Balance as of December 31, 2020 (46,106,147) (2,981,449) (445,268) (49,532,864) Net balance as of December 31, 2019 17,829,469 2,880,610 8,362,719 29,072,798 Net balance as of December 31, 2020 19,261,131 4,250,402 8,422,626 31,934,159 (1) Includes capitalizations for the acquisition of Guajira association by Hocol for a value of COP $214,852 (See Note 2.2). (2) Includes dry wells: 1) Ecopetrol: Nafta 1, Caronte, Alqamari, Boranda Sur and Coyote; 2) Hocol: Obiwan and 3) Ecopetrol Brasil: a well of Saturno. Additionally, exploration costs of Ecopetrol America are included. (3) Financial interests are capitalized based on the weighted average rate of loan costs. See Note 20 – Loans and borrowings. (4) On November 22, 2019, Hocol S.A. – a 100% subsidiary of Ecopetrol Business Group – signed a Purchase Agreement and Sale of Assets with “Chevron” to acquire the entire stake owned by the latter in the Guajira Association ( 43% of the association contract) and its position as operator. Accounting for suspended exploratory wells The following table shows the classification by age, from the completion date, of the exploratory wells that are suspended as of December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Between 1 and 3 years (a) — — 361,700 Between 3 and 5 years (b) — 319,368 132,021 More than 5 years (c) 651,040 589,604 441,389 Total suspended exploratory wells 651,040 908,972 935,110 Number of projects exceeding 1 year 6 16 30 Wells under 1 year of suspension (d) 20,863 — — (a) As of December 2019, suspended exploratory wells correspond to Ecopetrol: Caronte, Purple Angel and Gorgon. (b) For 2020, the balance corresponds mainly to wells of Ecopetrol: Purple Angel and Gorgon. For 2019, the balance corresponds mainly to wells of Ecopetrol S.A.: Luna-1 and Gala 1K and discovery wells of Ecopetrol America Inc: Warrior 1. (c) Corresponds mainly to i) Ecopetrol S.A.: Orca 1, Purple Angel and Gordon, which are under evaluation. As of December 2021, the suspended exploratory wells of Offshore International Group are not included, considering that Ecopetrol formalized the sale of all the shares in the company Offshore International Group (Note 13). For 2020, the exploratory wells correspond mainly to i) Ecopetrol S.A.: Orca 1, Luna-1 and Gala 1K. For 2019, the balance corresponds mainly to Orca 1. (d) Corresponds to Hocol: Merecumbe 1 -SSJN1 as of December 2021 .

Right-of-use assets

Right-of-use assets	12 Months Ended
	Dec. 31, 2021
Right-of-use assets.
Right-of-use assets	16. Right-of-use assets The following is the movement of right-of-use assets for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lands and Plant and ​ Right-of-use Lease ​ Pipelines buildings ​ equipment Vehicles ​ assets liabilities Balance as of December 31, 2020 — 93,472 133,939 150,475 377,886 1,055,198 Additions 22,871 22,190 10,037 20,319 75,417 75,417 Effect of business combinations (Note 12) ​ 75,836 ​ 121,042 ​ 13,779 ​ 19,550 ​ 230,207 ​ 255,503 Amortization of the period (6,897) (39,109) (61,186) (86,830) (194,022) — Remeasurements(1) — 26,057 48,803 5,045 79,905 80,068 Impairment loss — (5,802) (20,608) (5,373) (31,783) — Disposals — (14,540) — (98) (14,638) (64,726) Finance cost — — — — — 49,694 Repayment of borrowings and interests — — — — — (336,030) Transfers ​ (214) ​ (11,676) ​ (363) ​ (1,134) ​ (13,387) ​ 2,615 Exchange difference (14,577) 7,436 (3,017) (2,749) (12,907) 47,360 Balance as of December 31, 2021 77,019 199,070 121,384 99,205 496,678 1,165,099 (1) Corresponds mainly to updating rates and conditions in lease contracts. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lands and Plant and ​ Right-of-use ​ Lease ​ buildings equipment ​ Vehicles assets ​ Subleases liabilities Balance as of December 31, 2019 218,513 97,264 ​ 140,448 ​ 456,225 ​ 29,436 ​ 1,290,954 Additions 41,303 14,618 ​ 32,582 ​ 88,503 ​ — ​ 88,503 Amortization of the period (52,200) (29,038) ​ (98,726) ​ (179,964) ​ — ​ — Remeasurements (1) (41,907) 33,686 ​ 69,255 ​ 61,034 ​ — ​ 76,799 Reversal of impairment ​ 312 ​ 29,718 ​ 5,844 ​ 35,874 ​ — ​ — Disposals (13,343) (4,321) ​ — ​ (17,664) ​ — ​ (28,916) Effect of control loss in subsidiaries (61,044) (7,432) ​ — ​ (68,476) ​ (29,436) ​ (102,671) Finance cost — — ​ — ​ — ​ — ​ 64,988 Repayment of borrowings and interests — — ​ — ​ — ​ — ​ (350,539) Exchange difference 1,838 (556) ​ 1,072 ​ 2,354 ​ — ​ 16,080 Balance as of December 31, 2020 93,472 133,939 ​ 150,475 ​ 377,886 ​ — ​ 1,055,198 (1) Corresponds mainly to updating rates and conditions in lease contracts. ​

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2021
Intangible assets
Intangible assets	17. Intangible assets The following is the movement of intangibles and their amortization and impairment for the years ended December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Licensees and Other Concessions ​ Easements ​ ​ ​ software ​ intangibles ​ and rights ​ (2) ​ Total Cost ​ ​ Balance as of December 31, 2020 835,030 201,463 351,108 ​ 79,176 1,466,777 Acquisitions 140,263 11,456 275,736 ​ 16,891 444,346 Effect of business combination (Note 12) (1) 130,634 666,455 11,910,589 ​ 1,618,801 ​ 14,326,479 Disposals ​ (21,581) ​ (226) ​ (402) ​ (79) ​ (22,288) Foreign currency translation 82,397 83,856 893,249 ​ 18,553 1,078,055 Transfers/reclassifications (47,932) (22,924) 73,161 ​ 37 2,342 Balance as of December 31, 2021 1,118,811 940,080 13,503,441 ​ 1,733,379 17,295,711 Accumulated amortization and impairment losses ​ ​ ​ ​ Balance as of December 31, 2020 (607,871) (67,299) (173,799) ​ (62,765) (911,734) Amortization of the period 123,796 (19,780) (427,989) ​ (3,200) (327,173) Losses for impairment ​ (57) ​ — ​ — ​ — ​ (57) Disposals 21,313 56 — ​ 41 21,410 Foreign currency translation (55,695) (66,333) (447,697) ​ — (569,725) Transfers/reclassifications (171,303) 64 171,360 ​ (37) 84 Balance as of December 31, 2021 (689,817) (153,292) (878,125) ​ (65,961) (1,787,195) Net balance as of December 31, 2020 227,159 134,164 177,309 ​ 16,411 555,043 Net balance as of December 31, 2021 428,994 786,788 12,625,316 ​ 1,667,418 ​ 15,508,516 (1) Corresponds to the balances recognized in the business combination, which mainly includes i) service concessions classified as intangible assets, according to IFRIC 12, in Peru, Bolivia, and Colombia, ii) rights to use infrastructure and intangible assets recognized through business combinations in Brazil and Peru, and iii) intangibles associated with economic benefits from contractual income. (2) Easements are acquired rights for the passage of its operating assets, mainly electric power transmission lines. These assets are acquired in perpetuity, so there is no set term or contractual limit, and the right is maintained over time. ​ ​ ​ ​ ​ ​ ​ ​ ​ Licenses and Other ​ ​ ​ software ​ intangibles ​ Total Cost Balance as of December 31, 2019 994,599 285,247 1,279,846 Acquisitions 43,817 46,265 90,082 Foreign currency translation 12,569 5,072 17,641 Effect of control loss in subsidiaries (Note 28) ​ (10,584) ​ — ​ (10,584) Disposals (5,430) — (5,430) Adjustment on fair value for business combination (Note 12) ​ 156 ​ — ​ 156 Transfers 30,892 64,174 95,066 Balance as of December 31, 2020 1,066,019 400,758 1,466,777 Accumulated amortization and impairment losses ​ Balance as of December 31, 2019 (692,217) (104,531) (796,748) Amortization of the period (93,907) (23,429) (117,336) Recovery -losses for impairment (Note 18) ​ (176) ​ 5 ​ (171) Disposals 5,558 11 5,569 Effect of control loss in subsidiaries (Note 28) ​ 9,877 ​ — ​ 9,877 Foreign currency translation (8,689) (65) (8,754) Transfers (2,116) (2,055) (4,171) Balance as of December 31, 2020 (781,670) (130,064) (911,734) Net balance as of December 31, 2019 302,382 180,716 483,098 Net balance as of December 31, 2020 284,349 270,694 555,043 ​

Impairment of non-current asset

Impairment of non-current assets	12 Months Ended
	Dec. 31, 2021
Impairment of non-current assets
Impairment of non-current assets	18. Impairment of non-current assets As mentioned in Note 4.13, each year the Ecopetrol Business Group assesses whether there is an indication that an asset or cash–generating unit may be impaired or if impairment losses recognized in previous periods should be reversed (except for goodwill impairment losses). The Impairment of non-current assets includes (tangible and intangible) property, plant and equipment and natural resources, investments in companies, goodwill and other non–current assets. The Ecopetrol Business Group is exposed to future risks derived mainly from variations in: (i) the estimate of future oil prices, (ii) refining margins and profitability, (iii) cost profile, (iv) investments and maintenance expenses, (v) amounts of recoverable reserves, (vi) market and country risk assessments reflected in the discount rate, and (vii) changes in domestic and international regulations, among others. Any changes in the above estimates used to calculate the recoverable amount of a non–current assets can have a material impact on the recognition impairment losses or reversals (other than goodwill impairment losses) in the profit or loss. Highly sensitive significant estimates affecting each business segments, among others include: (i) in the exploration and production segment, variations of recoverable hydrocarbon estimates, changes in projected realization prices and the discount rate; (ii) in the refining segment, changes in finished products and crude oil prices, the discount rate, refining margins, changes in environmental regulations, cost structure and the level of capital expenditures; (iii) in the transport and logistics segment, changes in regulated tariffs and transported volumes, and (iv) in electric power transmission and toll roads concessions, internal and external factors that affect the recoverable value of the assets versus the book value of the assets. As described in Note 2.8, the behavior of the prices of crude oil and products during the year 2021 showed a recovery versus the price levels generated in 2020 and 2019, a situation that has an impact in the parameters established for the calculation of the impairment. Based on the impairment tests conducted by the Ecopetrol Business Group, the following are the impairment or reversals for the years ended on December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ Impairment (loss) reversal by segment 2021 2020 2019 Exploration and Production 438,020 (192,693) (1,982,044) Refining and Petrochemicals (305,466) (781,528) 452,163 Transport and Logistics (165,901) 341,065 (232,556) Electric power transmission and toll roads concessions ​ (4) ​ - ​ - ​ (33,351) (633,156) (1,762,437) ​ ​ ​ ​ ​ ​ ​ Recognized in: ​ Property, plant, and equipment (Note 14) (281,132) (384,638) (373,123) Natural resources (Note 15) 364,127 (217,709) (1,017,061) Investment in joint ventures and associates (Note 13) (84,502) (66,512) (318,820) Right of use assets (Note 16) ​ (31,783) ​ 35,874 ​ (53,488) Other non-current assets (61) (171) 55 ​ (33,351) (633,156) (1,762,437) ​ 18.1 The impairment reversal of assets of the Exploration and Production segment for the years ended December 31 of 2021, 2020 and 2019 is the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Oilfields 521,664 (123,652) (1,663,082) Investment in joint ventures (83,644) (69,041) (318,962) ​ 438,020 ​ (192,693) (1,982,044) ​ 18.1.1 In 2021, because of the new market variables, the incorporation of new reserves, price differentials versus the reference to Brent, available technical and operational information, there was a recovery of impairment recognized in previous years of the fields that operate in Colombia: Tibú, West B, South, Dina Cretaceous, Hobo and Underriver, La Hocha, Totare; and in fields operated abroad: K2. There also was an expense for impairment, mainly in the Oripaya, Arrayán and Boranda fields. An impairment expense was recognized in the year 2020 because of the current economic context of the hydrocarbons sector, the behavior of market variables, price differentials versus the reference to Brent, technical and operational information available. This impairment was mainly recognized in fields that operate in Colombia: Occidente B, Sur, Teca, Tibú, La Hocha and Espinal, and in the field K2 abroad. In addition, a recovery was recognized in: Casabe, because of a significant increase in its reserves, as well as Provincia, Lisama and Orito. In 2019, because of the current hydrocarbons sector’s economic context, the behavior of the market variables, Ecopetrol’s crude oil basket price discounts as compared to the ICE Brent crude price, available technical and operational information, there was an impairment loss in the oilfields that operate in Colombia mainly Tibú, Casabe, Provincia, Underriver, La Hocha y Andalucía and the oilfield operated abroad K2. The following is the breakdown of oilfields impairment losses or reversals for the years ended December 31, 2021, 2020 and 2019: 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Recoverable ​ Impairment Cash generating units amount amount reversal (loss) Oil fields in Colombia ​ ​ ​ ​ ​ ​ Reversal ​ 11,216,641 ​ 17,575,851 ​ 499,599 Loss 239,046 136,698 (104,041) Fields operated abroad Reversal 1,142,593 1,306,219 126,106 ​ ​ ​ ​ ​ 521,664 ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Recoverable ​ Impairment Cash generating units ​ amount ​ amount ​ reversal (loss) Oil fields in Colombia Reversal 24,845,238 61,224,928 1,019,395 Loss 2,439,799 1,423,561 (1,016,238) Fields operated abroad Loss 1,277,609 1,150,800 (126,809) ​ ​ ​ ​ ​ (123,652) ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Recoverable ​ Impairment Cash generating units ​ amount ​ amount ​ reversal (loss) Oil fields in Colombia Reversal 3,842,819 6,047,345 74,577 Loss 4,992,462 3,322,284 (1,673,258) Fields operated abroad ​ ​ ​ Reversal 200,910 539,785 4,391 Loss 68,792 — (68,792) ​ ​ ​ ​ ​ (1,663,082) ​ The grouping of assets to determine the CGUs is consistent as compared to the prior periods. The assumptions used to determine the recoverable amount include the following: – The fair value less costs of disposal of the Exploration and Production segment assets was determined based on cash flows after tax derived from the business plans approved by Ecopetrol Business Group’s management, which are developed based on long–term macroeconomic policies and fundamental assumptions of supply and demand. The fair value hierarchy is 3. – Balance of oil and gas reserves, in addition to proven reserves; probable and possible reserves were also considered (See Note 34), adjusted by different risk factors. – The real discount rate (after tax) determined as the average weighted cost of capital (WACC) and it corresponds to 4.94 % (2020 – 3.67% and 2019–6.31%). – Oil price – Brent: the forecasts include USD$75.72/barrel for the first year, USD$62.60/barrel for the medium term and USD$61.89/barrel for the long term. In 2020, the assumptions taken USD$46.36/barrel for the first year, USD$57.00/barrel for the medium term and USD$67.77/barrel as of the year 2030. International oil price projections were carried out by an independent agency specializing in oil and gas, considering the current scenarios of oil quota agreements of the OPEC (Organization of Petroleum Exporting Countries) and the impact of the changes in specifications issued by the international agreement to prevent pollution by ships (Marpol) as of the year 2020 on crude and fuels with high sulfur content. 18.1.2 Investments in joint ventures in the Exploration and Production segment are recorded using the equity method of accounting. Ecopetrol evaluates if there is any objective evidence that indicate that the fair value of such investments has deteriorated in the period, especially those for which goodwill has been recorded. As a result, Ecopetrol recognized an (impairment loss) or reversal of impairment on the carrying value as of December 31, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Equion Energía Limited (83,644) 7,928 (134,753) Offshore International Group — (76,969) (184,209) ​ (83,644) (69,041) (318,962) ​ In 2021, an impairment expense was recognized on the investment in Equion, mainly from the consideration of the fair value of the sale transaction of the El Morro Araguaney Pipeline. There was a recovery in 2020 on the investment in Equion mainly originated by the update of the transport rates through pipelines where Ecopetrol has a shareholding, and an impairment loss was recorded on the investment in Offshore International Group considering the fair value of the sale transaction. The significant assumptions used to determine the recoverable amount of these investments are consistent with those described in the previous section, except for the use of a discount rate in real terms in 2020 for Offshore International Group of 5.79% (2019 – 8.50%). In 2019, an impairment loss for both. Offshore International Group and Equion Energía Limited was recorded, due to current market variables, decreasing international crude oil prices, conservative position over projects and increasing costs. 18.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Refinería de Cartagena 34,650 (440,525) 911,597 Bioenergy — — (234,340) Invercolsa S.A. (97) (3) — Refinería de Barrancabermeja (projects) (340,019) (341,000) (225,094) ​ ​ (305,466) ​ (781,528) ​ 452,163 ​ The following is the Cash Generating Units impairment or reversals in the refining and petrochemical segment for the years ended December 31, 2021, 2020 and 2019: ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impairment ​ ​ Carrying Recoverable ​ reversal Cash–generating units amount amount (loss) Refinería de Cartagena 26,808,008 26,842,658 34,650 Invercolsa S.A. 292 195 (97) Refinería de Barrancabermeja (projects) 340,019 — (340,019) ​ ​ ​ ​ ​ (305,466) ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Recoverable Impairment Cash–generating units amount amount loss Refinería de Cartagena 24,041,174 23,600,649 (440,525) Invercolsa S.A. 276 273 (3) Refinería de Barrancabermeja (projects) 676,334 335,334 (341,000) ​ ​ ​ ​ ​ (781,528) ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Recoverable ​ Impairment Cash–generating units amount amount reversal (loss) Refinería de Cartagena 22,292,788 23,204,385 911,597 Bioenergy 575,331 340,991 (234,340) Refinería de Barrancabermeja (projects) 901,517 676,423 (225,094) ​ ​ ​ ​ ​ 452,163 ​ The grouping of assets to determine the CGUs is consistent with prior periods. 18.2.1 The recoverable amount of the Refinería de Cartagena was calculated based on its fair value less costs of disposal, which is higher than its value in continued use. The fair value less costs of disposal of the Refinería de Cartagena was determined based on cash flows after taxes that are derived from business plans approved by the Ecopetrol Business Group’s management, which are developed based on market prices provided by a third-party expert, which considers long–term macroeconomic variables and fundamental supply and demand assumptions for crude oil and refined products. The fair value hierarchy is 3. The significant assumptions to determine the recoverable amount included: (i) a gross refining margin determined by crude oil feedstock and products price outlook provided by an independent third-party expert; (ii) a real discount rate (after tax) of 5.3% (2020-5.1% and 2019–6.2%), determined under WACC methodology; (iii) current conditions or benefits, or similar, as an industrial user of goods and services of the free trade zone and during the validity of the license; (iv) level of costs and long–term operating expenses in line with international refinery standards of similar configuration and conversion capacity; (v) refinery throughput and production; and (vi) level of continued investment. It is important to mention that the refining business is highly sensitive to the volatility of the margins and the macroeconomic variables implicit in the determination of the discount rate, therefore, any change in these assumptions could potentially result in significant variations in the determination of impairment losses or reversal amounts. The impairment expense for 2020 was mainly derived from lower refining margins associated with external factors associated with the COVID-19 pandemic. On the other hand, management endured operational improvements that compensate to a certain extent for the effects of macroeconomic variables. The reversal of impairment recorded for 2019, is mainly related to macroeconomic assumptions changes which decreased the discount rate used to value the assets; this is explained by the decreasing risk and the Company's cost of the debt. Together, operational management and financial results allowed the support of operational improvements included in the forecast that compensate in some measure the effects related to the impact that the MARPOL regulation will have on the margins' forecast of refined products and the crude oil basket price discounts. The results of 2019 were impacted by a higher knowledge of the Refinery capabilities and efficient operational management. 18.2.2 Starting June 24, 2020, Bioenergy entered the mandatory liquidation process. Therefore, as of this date Ecopetrol Business Group does not have control over Bioenergy and it is no longer a part of the consolidated figures. An impairment expense was recorded in 2019 in the amount of $234,340. This value was mainly generated by changes in operating variables, changes in the projection of operating flows and the need for greater resources, mainly due to the results of the renewal of older cane plantations. The recoverable amount of Bioenergy for 2019 was calculated based on the fair value less the costs of disposal level, which is greater than the value in use and corresponds to the future cash flows discounted after taxes on profit. The fair value hierarchy is 3. The significant assumptions used to determine the recoverable amount included: (a) forecast of ethanol prices based on projections made by Ecopetrol Business Group specialists and (b) a 6.03% discount rate in real terms determined under the WACC methodology. 18.2.3 As of December 31, 2021, because an update analysis for the Barrancabermeja Refinery Modernization Project, an impairment expense of $340,019 was recognized, produced mainly by engineering work executed according to the evaluations and the context of the industry during the year. An impairment expense of COP$341,000 was recognized as of December 31, 2020, as a result of the update of the analysis for the Barrancabermeja Refinery Modernization Project, in relation to engineering work based on the evaluations carried out and the current context of the industry. During 2019, a loss of COP$225,094 was recorded, primarily related to engineered works for the integral development of the Refinería de Barrancabermeja Modernization Project, mainly due to the advance in the technical analysis of options to the eventual improvement of the conversion of the Refinery. 18.3 The recoverable amount of these assets was determined based on its fair value with costs of disposal, which corresponds to discounted cash flows based on the hydrocarbon production curves and refined products transport curves. The fair value hierarchy is 3. The assumptions used in the model to determine the recoverable value included: i) the tariffs regulated by the Ministry of Mines and Energy and the Energy and Gas Regulation Commission - CREG, ii) the actual discount rate used in the valuation was 2.95% (2020 – 3.17% and 2019 - 4.88%) and iii) transport volume projections based on the financial plan and the long-term volumetric transport program. In 2021, an impairment expense was recognized for the Southern Cash Generating Unit, the estimate of the impaired value was $160,653, corresponding to the total value of the asset. In addition, an impairment of $2,845 was established for the Yaguará-Tenay system, which corresponds to 39% of the value of the asset. Finally, the segment recognized an additional impairment of $2,545 as a result of the sale of a turbo-generator during the year and a recovery in other non-current assets of $142. The recognition of impairment is due to volumetric variation and rates. In 2020, Cenit recognized an impairment recovery of COP$341,065, related to the South CGU, which includes Tumaco Port and the TransAndino Pipeline (OTA, by its acronym in Spanish) and the North CGU, which includes the section Banadia - Ayacucho, and it is part of the Caño Limón Pipeline, due to volumetric recovery and changes in tariffs. The fair value of these CGUs is COP$7,049,007 and their book value is COP$2,153,631. In 2019, we recorded an impairment loss of COP$232,556, mainly related to the cash-generating unit of the South COP$106,983, by Puerto de Tumaco and the TransAndino Pipeline (OTA), which means an impairment loss of 100% of the book value; and the cash-generating unit of the North COP$125,140; both include the right-of-use assets. This impairment loss was generated mainly by decreased volume transport to determine the income forecast and the lower efficiency costs.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2021
Goodwill
Goodwill	19. Goodwill ​ ​ ​ ​ ​ ​ ​ 2021 2020 Interconexión Eléctrica S.A. E.S.P. ​ 3,092,045 ​ — Oleoducto Central S.A.S. 683,496 683,496 Hocol Petroleum Ltd. 537,598 537,598 Invercolsa S.A. ​ 434,357 ​ 434,357 Andean Chemical Ltd 127,812 127,812 Esenttia S.A. 108,137 108,137 ​ 4,983,445 1,891,400 Less impairment Hocol Petroleum Ltd. (297,121) (297,121) ​ 4,686,324 1,594,279 ​ As of December 31, 2021, and 2020, the Ecopetrol Business Group assessed the recoverability of the carrying value of goodwill generated in the acquisition of subsidiaries. The recoverable amount was determined based on the realization value less costs of disposal using the present value of future cash flows for each of the companies acquired with goodwill. The source of information used the financial projections of each company derived from the business plans approved by management, which were developed based on long-term macroeconomic factors such as price curves and margins and fundamental assumptions of supply and demand. As a result of the analysis, the Ecopetrol Business Group did not recognize any goodwill impairment for these periods.

Loans and borrowings

Loans and borrowings	12 Months Ended
	Dec. 31, 2021
Loans and borrowings
Loans and borrowings	20. Loans and borrowings 20.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average effective ​ ​ ​ ​ ​ ​ interest rate as of December 31 ​ 2021 ​ 2020 ​ 2021 2020 ​ ​ Local currency ​ ​ ​ ​ Bonds 9.1 % 6.4 % 4,941,024 1,084,461 Syndicated loan 5.4 % 5.6 % 600,452 811,079 Lease liabilities (1) ​ 6.3 % 6.6 % 823,922 ​ 836,489 Commercial loan ​ 7.8 % 6.3 % 1,516,377 ​ 312,408 ​ ​ ​ ​ ​ 7,881,775 3,044,437 Foreign currency Bonds (2) 5.7 % 6.0 % 66,603,695 33,944,548 Commercial loan (3) 3.5 % 3.6 % 18,750,580 8,247,014 Loans from related parties (Note 31) 0.3 % 0.8 % 1,483,701 1,277,046 Lease liabilities (1) 6.0 % 6.1 % 341,177 218,709 ​ ​ ​ ​ ​ 87,179,153 43,687,317 ​ ​ ​ ​ ​ 95,060,928 46,731,754 Current ​ ​ ​ 9,206,283 4,923,346 Non–current ​ ​ ​ 85,854,645 41,808,408 ​ ​ ​ ​ ​ 95,060,928 46,731,754 (1) Corresponds to present value of the payments to be made during the term of the operative lease contracts of pipelines, tanks, property, and vehicles, recognized by the implementation of IFRS 16 – Leases (See Note 16). (2) On October 27, public debt bonds were issued for USD $2,000 million, with maturity of 10 and 30 years , at coupon rates of 4.625% and 5.875% , respectively, to partially refinance the loan obtained for the acquisition of 51.4% of Interconexión Eléctrica S.A. (ISA). The movement of foreign currency bonds also corresponds to the increase in the exchange rate. (3) Corresponds mainly to the credit with international banks for the acquisition of ISA for USD $3,672 million (the equivalent value in pesos received corresponds to $14,190,267 ) subscribed between Ecopetrol and Banco Santander S.A., Citibank N.A., JPMorgan Chase Bank, N.A., and The Bank of Nova Scotia, each with a 25% participation. The main conditions of the financing are: (i) payment of 100% principal at maturity within a period of 2 years from the date of subscription of the contract; (ii) an interest rate of Libor USD (3M) + 80 basis points and (iii) an initial aggregate commission of 30 basis points. The Costs related to the issuance of debt correspond to $42,699 (Note 12). 20.2 Fair value of loans The fair value of loans and borrowings is $99,258,034 and $52,721,790 as of December 31, 2021, and 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, FTD) and the Ecopetrol Business Group’s credit risk (spread). 20.3 The following are the maturities of loans and borrowing as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ year (1) ​ 1 – 5 years 5-10 years > 10 years Total Local currency Bonds 290,858 1,152,829 1,423,909 2,073,428 4,941,024 Syndicated loan 239,597 360,855 — — 600,452 Lease liabilities ​ 188,477 ​ 340,283 ​ 283,070 ​ 12,092 ​ 823,922 Commercial loans 170,758 539,693 595,307 210,619 1,516,377 ​ 889,690 2,393,660 2,302,286 2,296,139 7,881,775 Foreign currency ​ ​ ​ ​ ​ Bonds 3,275,138 27,550,698 17,515,876 18,261,983 66,603,695 Commercial loans 3,457,708 14,792,560 303,012 197,300 18,750,580 Lease liabilities 100,046 205,617 35,514 — 341,177 Loans from related parties ​ 1,483,701 ​ — ​ — ​ — ​ 1,483,701 ​ 8,316,593 42,548,875 17,854,402 18,459,283 87,179,153 ​ 9,206,283 44,942,535 20,156,688 20,755,422 95,060,928 ​ (1) ​ The following are the maturities of loans and borrowing as of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ year (1) ​ 1 – 5 years 5–10 years > 10 years Total Local currency Bonds 65,829 354,081 370,900 293,651 1,084,461 Syndicated loan 242,660 568,419 — — 811,079 Lease liabilities ​ 167,059 ​ 418,938 ​ 211,233 ​ 39,259 ​ 836,489 Commercial loans 106,410 205,998 — — 312,408 ​ 581,958 1,547,436 582,133 332,910 3,044,437 Foreign currency ​ Bonds 1,905,325 14,692,852 12,109,859 5,236,512 33,944,548 Commercial loans 1,098,593 6,563,863 584,558 — 8,247,014 Loans from related parties ​ 1,277,046 — — — 1,277,046 Lease liabilities 60,424 ​ 149,381 ​ 8,904 ​ — ​ 218,709 ​ 4,341,388 21,406,096 12,703,321 5,236,512 43,687,317 ​ 4,923,346 22,953,532 13,285,454 5,569,422 46,731,754 (1) Includes short–term credit and the current portion of long–term debt, as applicable. 20.4 Breakdown by type of interest rate and currency The following is the breakdown of loans and borrowing by type of interest rate as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Local currency Fixed rate 1,239,723 523,870 Floating rate 6,642,052 2,520,567 ​ 7,881,775 3,044,437 Foreign currency ​ ​ Fixed rate 69,427,014 38,706,328 Floating rate 17,752,139 4,980,989 ​ 87,179,153 43,687,317 ​ 95,060,928 46,731,754 ​ The interest on the bonds in national currency is indexed to the CPI (Consumer Price Index) and bank loans and variable rate leasing in Colombian pesos are indexed to the DTF (Fixed Term Deposits) and IBR (Banking Reference Indicator), plus a differential. Interest on loans in foreign currency is calculated based on the LIBOR rate plus a spread and the interests of the other types of debt are at a fixed rate. 20.5 As of December 31, 2021, Ecopetrol designated USD$13,287 million (2020- USD$8,549 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$4,972 million is used to hedge the cash flows of future crude oil exports. See Note 30 – Risk management 20.6 Financing obtained directly by Ecopetrol in capital markets has no guarantees granted or financial covenant restrictions. The following is a summary of certain restrictions contained in loan instruments of Ecopetrol Business Group. As of Dec 31, 2021, the covenants, loans and payments have been fulfilled. - The syndicated loan entered by Oleoducto Bicentenario requires that this subsidiary maintain an established relationship of leverage and solvency and cash flow / service to the debt. - ISA and its companies obtained guarantees to support the growth of its different business units and ensure strategic commercial and operational viability; guarantees under paragraph 14 of IFRS 7 corresponding to assets pledged as collateral for contingent assets/liabilities granted. As of December 31, 2021, the total value of the current guarantees is $18,236,351 . - ISA and its companies have covenants related to the delivery of periodic financial information and the fulfillment of the obligations originated in the credit agreements with the financial entities, the Ministry of Public Works of Chile, the bondholders, the rating agencies of risks, auditors, and municipalities, among others. The main companies with covenants acquired in the management of financing are Ruta Costera, ISA Peru, ISA CETEEP and subsidiaries, ISA Intervial and concessionaires, ISA Interchile. 20.7 The following is the movement of net financial debt as of December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and Other financial Loans and Net financial ​ ​ equivalents ​ assets ​ borrowings ​ debt Balance as of December 31, 2019 7,075,758 4,979,292 (38,239,139) (26,184,089) Cash flow (1,971,156) (2,107,856) (6,105,296) (10,184,308) Exchange difference: ​ ​ ​ ​ Recognized in profit or loss (22,294) 38,701 747,744 764,151 Recognized in other comprehensive income — — (722,458) (722,458) Financial cost registered to projects — — (255,372) (255,372) Financial income (expense) recognized in profit or loss — 43,948 (2,386,537) (2,342,589) Foreign currency translation — 42,529 (175,885) (133,356) Effect of loss of control in subsidiaries ​ — ​ — ​ 528,981 ​ 528,981 Other movements that do not generate cash flow — ​ 75,045 ​ (123,792) ​ (48,747) Balance as of December 31, 2020 5,082,308 3,071,659 (46,731,754) (38,577,787) Cash flow (1) 3,992,936 (1,317,936) (9,729,667) (7,054,667) Exchange difference: ​ ​ ​ ​ Recognized in profit or loss 491,428 76,085 (810,358) (242,845) Recognized in other comprehensive income — — (6,113,502) (6,113,502) Financial cost registered to projects — — (255,708) (255,708) Financial income (expense) recognized in profit or loss — 7,431 (3,095,224) (3,087,793) Foreign currency translation — 55,306 (821,889) (766,583) Valuation recognized in results and OCI ​ — ​ (1,632) ​ — ​ (1,632) Uploading index ​ — ​ — ​ (85,652) ​ (85,652) Effect of business combination (Note 12) (2) ​ 4,983,234 ​ 1,093,941 ​ (27,458,935) ​ (21,381,760) Other movements that do not generate cash flow — (50,120) 41,761 (8,359) Balance as of December 31, 2021 14,549,906 2,934,734 (95,060,928) (77,576,288) (1) The cash flow related to loans and borrowings includes the cash proceeded from borrowing, repayments, lease, and interest payments. The cash flow also includes $42,699 related to the issuance of debt for ISA acquisition (Note 12). (2) Includes for loans and financing, loans for $27,203,432 and lease liabilities for $255,503.

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2021
Trade and other payables
Trade and other payables	21. Trade and other payables ​ ​ ​ ​ ​ ​ ​ 2021 2020 Current ​ ​ ​ ​ Suppliers 10,470,260 6,491,909 Partners’ advances 1,060,349 497,898 Withholding tax 717,720 462,429 Insurance and reinsurance 294,114 240,803 Deposits received from third parties (1) 136,310 84,436 Related parties (Note 31) 66,598 72,316 Dividends payable (2) ​ 58,668 ​ 223,571 Agreements in transport contracts (3) ​ 33,883 ​ 37,941 Hedging operations (4) 2,032 6,405 Various creditors (1) 728,297 331,333 ​ 13,568,231 8,449,041 ​ ​ ​ ​ ​ Non - current ​ ​ ​ ​ Suppliers ​ 8,260 ​ — Deposits received from third parties (1) 33 1,109 Various creditors (1) 62,314 19,955 ​ 70,607 21,064 (1) For presentation purposes, this note includes the current and non-current trade and other payables, for comparative years 2021-2020. (2) Corresponds to dividends declared to third parties by Intercoconexión Eléctrica S.A., Ecopetrol and Investments of Gases of Colombia S.A. (3) Corresponds to the value of the payables for agreements agreed in the transportation contracts for pipelines, calculated in volumetric quality compensation and other inventory management arrangements. (4) Corresponds to the balance payable for the liquidation of swap contracts acquired to hedge the price risk of export crude oil. The carrying amount of trade accounts and other accounts payable approximates their fair value due to their short–term nature.

Provisions for employees' benef

Provisions for employees' benefits	12 Months Ended
	Dec. 31, 2021
Provisions for employees' benefits
Provisions for employees' benefits	22. Provisions for employees’ benefits ​ ​ ​ ​ ​ ​ ​ 2021 2020 Post–employment benefits Healthcare 6,636,809 7,193,527 Pension 2,159,530 2,819,985 Education 443,761 485,792 Bonds 320,833 342,669 Other plans 91,476 102,632 Termination benefits – Voluntary retirement plan (1) 746,585 713,407 ​ 10,398,994 11,658,012 Social benefits and salaries 856,198 674,080 Other employee benefits 123,853 91,575 ​ 11,379,045 12,423,667 Current 2,296,253 2,022,137 Non–current 9,082,792 10,401,530 ​ 11,379,045 12,423,667 (1) It includes the obligation for the new voluntary retirement plan, on which Ecopetrol made offers to a part of its workers during 2020, of which 94 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. 22.1 The following table shows the movement in liabilities and assets, net of post-employment benefits and termination benefits, as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and bonds (1) Other Total ​ 2021 2020 2021 2020 2021 2020 Liabilities for employee benefits Opening balance 16,320,383 15,916,472 8,510,594 7,593,171 24,830,977 23,509,643 Effect of business combination ​ 545,319 ​ — ​ 301,780 ​ — ​ 847,099 ​ — Current service cost 10,948 — 121,404 118,035 132,352 118,035 Past service cost (2) 3,545 — 125,783 631,761 129,328 631,761 Interest expense 867,644 882,785 485,494 439,682 1,353,138 1,322,467 Transferred benefits ​ — ​ — ​ (577) ​ — ​ (577) ​ — Actuarial (gains) losses (2,285,738) 418,187 (1,091,228) 87,311 (3,376,966) 505,498 Benefits paid (931,051) (897,061) (506,323) (359,366) (1,437,374) (1,256,427) Foreign currency translation ​ (10,458) ​ — ​ — ​ — ​ (10,458) ​ — Closing balance 14,520,592 16,320,383 7,946,927 8,510,594 22,467,519 24,830,977 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plan assets ​ ​ ​ ​ ​ ​ Opening balance 13,157,729 12,709,838 15,236 3,015 13,172,965 12,712,853 Effect of business combination ​ — ​ — ​ 11,004 ​ — ​ 11,004 ​ — Return on assets 691,584 700,168 367 136 691,951 700,304 Contributions to funds — — 504,511 370,090 504,511 370,090 Benefits paid (924,924) (897,061) (502,340) (358,199) (1,427,264) (1,255,260) Actuarial (losses) gains (884,160) 644,784 (482) 194 (884,642) 644,978 Closing balance 12,040,229 13,157,729 28,296 15,236 12,068,525 13,172,965 Net post–employment benefits liability 2,480,363 3,162,654 7,918,631 8,495,358 10,398,994 11,658,012 (1) There is no cost for the pension and pension plans service since the beneficiaries were retired as of July 31, 2010 . (2) It includes the new voluntary retirement plan . The following table shows the movement in profit and loss and in other comprehensive income as of December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Recognized in profit or loss Interest expense. Net 658,476 622,163 537,893 Current service cost 104,246 118,035 76,478 Remeasurements (211) — 10,213 ​ 762,511 740,198 624,584 Recognized in other comprehensive income Pension and pension bonds (1) 1,401,578 226,597 (1,303,693) Healthcare (1) 991,050 (33,324) (1,268,379) Education and severance 63,222 (55,693) 922 Termination benefits – Voluntary retirement plan — (121) (34) Other movements ​ 817 ​ — ​ — ​ 2,456,667 137,459 (2,571,184) Deferred tax (679,510) (41,238) 771,355 ​ 1,777,157 96,221 (1,799,829) ​ (1) For the year 2021, higher discount rates were applied in the actuarial calculation process, which generates a variation of other comprehensive income compared to the year 2020. The increase also includes the adding of Interconexión Eléctrica S.A. E.S.P. in consolidation process. 22.2 Plan assets are resources held by pension trusts for payment of pension obligations. Payments for health and education post–employment benefits are Ecopetrol’s responsibility. The destination of trust resources and its yields cannot be changed or returned to the Ecopetrol Business Group until all pension obligations have been fulfilled. The following is the composition of the plan assets of pension and pension bonds by type of investment as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Bonds issued by the national government 2,758,728 4,958,612 Other local currency ​ 5,422,709 ​ 1,502,349 Bonds of private entities 2,393,322 3,177,531 Variable yield ​ 1,026,862 ​ 679,448 Other public bonds ​ 302,254 ​ 777,562 Other foreign currency 113,012 1,992,800 Bonds of foreign entities 51,638 84,663 ​ 12,068,525 13,172,965 ​ 36.99% (2020 –23.3%) of plan assets are classified as level 1 in the fair value hierarchy where prices for the assets are directly observable on actively traded markets, and 63.01% (2020 – 76.7%) are classified as level 2. The fair value of level 2 plan assets is calculated using prices quoted in the assets’ market. The Ecopetrol Business Group obtains these prices through reliable financial data providers recognized in Colombia or abroad depending on the investment. For the securities issued in local currency, the fair value of plan assets is calculated using information published by Precia, a price supplier authorized by the Financial Superintendence of Colombia. According to its methodology, prices are calculated based on market information on the valuation date or estimated from historical inputs according to the criteria established for the calculation of each of the prices. The average price is calculated based on the most representative market of the transactions carried out through electronic platforms approved and supervised by the regulator. On the other hand, the estimated price is calculated for investments that do not reflect enough information to estimate an average market price, replicating the quoted prices for similar assets or prices obtained through quotes from brokers. This estimated price is also given by Precia because of the application of robust methodologies approved by the financial regulator and widely used by the financial sector. The following table reflects the credit ratings of the issuers and counterparties in assets held by the autonomous pension funds: ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ ​ ​ ​ AAA 7,183,658 4,369,805 Nación 2,871,610 5,102,222 AA+ 455,875 570,716 F1+ 112,284 61,192 BAA3 78,216 — AA 74,350 134,454 BBB+ 40,928 10,328 BBB- 39,865 458,273 BRC1+ 37,884 52,296 BAA1 18,855 — AA- 9,558 4,014 A 5,834 5,307 BBB — 201,163 A3 — 11,633 Others 47,348 297,048 Not available ratings 1,092,260 1,894,514 ​ 12,068,525 13,172,965 ​ See credit risk policy in Note 30.8. 22.3 The following are the actuarial assumptions used in determining the present value of defined employee benefit obligations used for the actuarial calculations as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 Pension Bonds Health Education Others (1) Discount rate (1) 5.18%-8.7 % 5.00%-6.25 % 7.00%-8.8 % 6.30%-8.9 % 5.56%-7.10 % Salary growth rate (1) 4.50 % N/A N/A 4.50 % 4.5%-4.7 % Expected inflation rate (1) 3.0%-4.0 % 3.00 % 3.00 % 3.00 % 3.00%-4.00 % Pension growth rate 3.0%-3.5 % N/A N/A N/A 3.50 % Cost trend ​ Short–term rate N/A N/A 6.67 % 4.00 % N/A ​ Long–term rate N/A N/A 4.00 % 4.00 % 4.70 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 Pension Bonds Health Education Others (1) Discount rate 5.50 % 4.75 % 6.00 % 5.00 % 4.09 % Salary growth rate N/A N/A N/A N/A 4.70 % Expected inflation rate 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % Pension growth rate 3.00 % N/A N/A N/A N/A ​ Cost trend ​ Short–term rate N/A N/A 6.67 % 4.00 % N/A ​ Long–term rate N/A N/A 4.00 % 4.00 % N/A ​ ​ N/A: Not applicable for this benefit. (1) Weighted average discount rate. The cost trend is the projected increase for the initial year, which includes the expected inflation rate. The mortality table used for the calculations was that of ‘Valid Annuitant’ for men and women based on the experience gained for the period 2005–2008 of the Colombian Social Security Institute. 22.4 The cash flows required for payment of post–employment obligations of Ecopetrol and Cenit are the following: ​ ​ ​ ​ ​ ​ ​ ​ Period Pension and bonds Other benefits Total 2022 999,575 510,539 1,510,114 2023 1,027,226 525,620 1,552,846 2024 1,069,119 529,898 1,599,017 2025 1,076,416 531,384 1,607,800 2026 1,108,696 529,663 1,638,359 2027 and thereafter 5,714,448 2,666,746 8,381,194 ​ 22.5 The following sensitivity analysis shows the effect of such possible changes on the obligation for defined benefits, while keeping the other assumptions constant, as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Bonds Health Education Other Discount rate –50 basis points 13,639,890 1,079,858 6,893,605 434,192 867,453 +50 basis points 12,320,218 1,014,678 6,019,242 398,399 836,192 Inflation rate ​ ​ ​ ​ ​ –50 basis points 12,265,258 1,013,016 N/A N/A 747,303 +50 basis points 13,692,090 1,080,136 N/A N/A 769,637 Salary growth rate ​ ​ ​ ​ –50 basis points N/A N/A N/A 2 89,570 +50 basis points N/A N/A N/A 2 96,968 Cost trend ​ ​ ​ ​ ​ –50 basis points N/A N/A 6,021,414 398,143 N/A +50 basis points N/A N/A 6,887,785 434,328 N/A ​ N/A: Not applicable for this benefit. ​ 22.6 In May 2020, Ecopetrol offered a new voluntary retirement plan, which 421 workers have accepted. This plan includes the dismissal of employees from January 2020 to December 2023, through 4 modalities: compliance with the work cycle (pension), retirement plan A (Income), retirement plan B (Bonus) and enhanced compensation. In August 2016, the Ecopetrol offered a voluntary retirement plan, which as of December 31, 2021, was used by 125 workers who met certain requirements. This plan includes benefits such as monthly income, education, and health benefits until the date on which the employee is granted their retirement pension. As of December 31, 2021, the amount of the net obligation associated with voluntary retirement plans is $746,585 (2020 - $713,407).

Accrued liabilities and provisi

Accrued liabilities and provisions	12 Months Ended
	Dec. 31, 2021
Accrued liabilities and provisions
Accrued liabilities and provisions	23. Accrued liabilities and provisions ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset ​ Environmental ​ ​ ​ retirement ​ ​ ​ contingencies and ​ ​ ​ ​ obligation ​ Litigation ​ others ​ Total Balance as of December 31, 2020 11,239,325 118,139 1,070,266 12,427,730 Increase in abandonment costs 500,868 — — 500,868 Effect of business combination (Note 12) ​ — ​ 329,123 ​ 618,760 ​ 947,883 Additions 242,435 261,785 210,619 714,839 Uses (548,133) (13,453) (334,922) (896,508) Financial costs 292,329 3,925 7,272 303,526 Foreign currency translation ​ 152,212 ​ 4,466 ​ 34,774 ​ 191,452 Transfers ​ 11,283 ​ (19) ​ 31,153 ​ 42,417 Balance as of December 31, 2021 11,890,319 703,966 1,637,922 14,232,207 Current 1,041,674 59,843 488,601 1,590,118 Non-current 10,848,645 644,123 1,149,321 12,642,089 ​ 11,890,319 703,966 1,637,922 14,232,207 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset ​ Environmental ​ ​ ​ retirement ​ ​ ​ contingencies and ​ ​ ​ ​ obligation ​ Litigation ​ others ​ Total Balance as of December 31, 2019 8,835,420 137,429 945,439 9,918,288 Increase in abandonment costs 2,307,453 — — 2,307,453 Additions 143,320 32,108 237,181 412,609 Uses (291,793) (31,709) (106,448) (429,950) Financial costs 258,464 — — 258,464 Effect of control loss in subsidiaries (Note 28) (23,874) (20,117) — (43,991) Adjustment on fair value for business combination 31,137 — — 31,137 Foreign currency translation 37,239 ​ 428 ​ 5,476 ​ 43,143 Transfers (58,041) ​ — ​ (11,382) ​ (69,423) Balance as of December 31, 2020 11,239,325 118,139 1,070,266 12,427,730 Current 949,638 46,844 224,627 1,221,109 Non-current ​ 10,289,687 71,295 845,639 11,206,621 ​ ​ 11,239,325 118,139 1,070,266 12,427,730 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset ​ Environmental ​ ​ ​ retirement ​ ​ ​ contingencies and ​ ​ ​ ​ obligation ​ Litigation ​ others ​ Total Balance as of December 31, 2018 6,719,275 127,945 906,792 7,754,012 Increase in abandonment costs 2,188,928 — — 2,188,928 Additions 112,486 58,913 90,854 262,253 Uses (410,191) (45,342) (59,755) (515,288) Financial costs 226,803 — 3 226,806 Foreign currency translation (5,240) 79 1,211 (3,950) Transfers 3,359 (4,166) 6,334 5,527 Balance as of December 31, 2019 8,835,420 137,429 945,439 9,918,288 Current 589,411 28,662 171,224 789,297 Non–current 8,246,009 108,767 774,215 9,128,991 ​ 8,835,420 137,429 945,439 9,918,288 ​ 23.1 Asset retirement obligation The estimated liability for asset retirement obligation costs corresponds to the future obligation that the Ecopetrol Business Group to restore environmental conditions to a level similar to that existing before the start of projects or activities, as described in Note 3.5 – Abandonment and dismantling costs of fields and other facilities. As these relate to long–term obligations, this liability is estimated by projecting the expected future payments and discounting at present value with a rate indexed to the Ecopetrol Business Group’s financial obligations, considering the temporariness and risks of this obligation. The discount rates used in the estimate of the obligation as of December 31, 2021, were Exploration and Production 2.89% (2020 – 2.65%), Transportation and Logistics 3.14% (2020 - 2.71%), and Refining and Petrochemicals 4.21% (2020 - 3.67%). 23.2 Litigations The following table details the main litigations recognized in the statement of financial position as of December 31, whose loss expectations are probable and could imply an outflow of resources: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Damages to third parties due to hydrocarbon easement in a building near the Cartagena Refinery. 11,019 11,019 CTEEP Regulatory Contingency: Billing Eletrobras – RBNI Corresponds to the collection action filed by Eletrobras against ISA CTEEP requesting the return of the value charged in excess by the company as part of the payment of the compensation resulting from the extension of Concession Contract No. 059/2001 under Law No. 12,783/201, relating to NI facilities (new investments) that had been transferred to the company by Eletrobras. 27,993 — Second instance rulings unfavorable to the interests of Ecopetrol, related to public works contributions, for which they have a unified sentence and that could be subject to collection by the tax authority 203,160 — ​ 23.2 These correspond to contingencies for environmental incidents and obligations related to environmental compensation and mandatory investment of 1% for the use of, exploitation of or effect on natural resources imposed by national, regional, and local environmental authorities. Mandatory investment of 1% is based on the use of water taken directly from natural sources in accordance with the provisions of Law 99 of 1993, Article 43, Decree 1900 of 2006, Decree 2099 of 2017 and 075 and 1120 of 2019 and article 321 of Law 1955 of 2019 in relation to the projects that Ecopetrol develops in Colombia. The Colombian Government through the Ministry of Environment and Sustainable Development, issued in December 2016 and in January 2017 the Decrees 2099 and 075, which modify the Single Regulatory Decree of the environment and sustainable development sector, Decree 1076 of 2015, related to the mandatory investment for the use of water taken directly from natural sources. The decrees included modifications and guidelines regarding the geographical scope for the execution of the activities for the fulfillment of the obligation, investment lines and the calculation of the base of liquidation 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 1955/2020 was issued, which in its article 321 unifies the basis for the settlement of this obligation and requires updating the investment obligations of 1% to present value. 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. Currently, ANLA's pronouncements are being received in relation to article 321 of Law 1955, some through official letters and others through resolutions. Ecopetrol has filed an appeal for reconsideration with ANLA in most cases, which are under review by this authority. 23.3 Contingencies Oleoducto Bicentenario de Colombia S.A.S. Settlement agreement with Frontera and the Pacifics OBC: 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). Consequently, Frontera ceased to comply with its obligations under the agreement. 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 aforementioned agreements. Consequently, Bicentenario executed the standby letters of credit posted as guarantee for the Transport Agreements. After trying a direct settlement with Frontera, the Company filed arbitration claims against Frontera under the arbitration agreement contained in the Transportation Contract in the Arbitration and Conciliation Center of Chamber of Commerce of Bogota. On November 17, 2020, Bicentenario, Frontera, the Pacific OBCs and Cenit Transporte y Logística de Hidrocarburos S.A.S. filed a conciliation request with the Attorney General's Office (Procuraduría General de la Nación) to finish their controversies. In the case of Bicentenario and Frontera together with the Pacific OBCs, the conciliation request is intended to resolve the disputes under the Transportation Contracts and under the Investment Framework Agreement and, in the case of Cenit and Frontera together with the Pacific OBC, the controversies under the respective transportation contracts entered and the tariffs dispute between Cenit and Frontera. On March 24, 2021, the Attorney General's Office issued a favorable opinion regarding the conciliation request signed between Bicentenario, Frontera, the Pacific OBCs and Cenit Transporte y Logística de Hidrocarburos SAS, recommending that the Administrative Court of Cundinamarca should approve the conciliation agreement to resolve all disputes between the parties. The Administrative Court of Cundinamarca approved the Conciliation, being executed on November 10, 2021. With the obligations of the parties in the Conciliation Agreement, in compliance, on November 11, 2021, the conciliation was closed. Settlement agreement with Vetra Exploración y Producción Colombia S.A.S: On January 13, 2021, Bicentenario and Vetra signed a conciliation agreement with which it was intended to finish the controversies related to the transportation and storage contracts and also finalize the arbitration tribunals that were in progress. Said agreement had to be approved by the Court, prior concept of the Public Ministry. In this arrangement, a formula was established, which consisted, in general, in finalizing the contractual bonds celebrated between the parties and settling all the pending payment obligations between the two companies. In February 2021, the conciliation agreement that finished the controversies between the parties was presented to the court, which was approved on April 28, 2021. With the approval of the conciliation agreement, the controversies between the parties were terminated. Settlement agreement with Canacol Energy Colombia S.A.S. On March 8, 2021, Bicentenario and Canacol signed a conciliation agreement with which it was intended to finish the controversies related to the transportation and storage contracts and also finalize the arbitration tribunals that were in progress. Said agreement required approval by the Court, prior concept of the Public Ministry and it established a settlement formula that consisted, in general, in ending the contractual connections between the parties and settling all pending payment obligations between the two companies. In March 2021, the conciliatory formula that finished the controversies between the parties was presented to the Court, which was approved on April 23, 2021. With the approval of the conciliation agreement, the controversies between the parties were terminated. Cenit Transporte y Logística de Hidrocarburos S.A.S. (“Cenit”) – Controversy with Grupo Frontera On November 29, 2018, through file No. 15911, the Company filed an arbitration claim against Grupo Frontera for three matters in dispute, between the parties: - Unilateral decision of Grupo Frontera to early termination the Ship or Pay transportation contracts for the Caño Limón – Coveñas Pipeline. Within the agreement entered with the Frontera Energy regarding the Caño Limón Coveñas Pipeline, and in particular clause 13.3 establishes that, in the event of service suspension for reasons not attributable to either party, for a longer period 180 continuous calendar days, either party may terminate the contract early. Frontera considered that the facts that gave rise to the early termination of the contract were fulfilled, for its part Cenit considered that no more than 180 days of service suspension had elapsed. - Rate disagreement between Cenit and Grupo Frontera regarding the application or not of the rates set by the Ministry of Mines and Energy for the period 2015-2019. Since December 2016, the Frontera Group filed objections to the full payment of invoices issued by Cenit, expressing its opposition to the application of the rates set by the Ministry of Mines and Energy (MME) in resolutions 31480 and 31661 of 2016. In the other hand, Cenit considered that the objections presented by the client were inadmissible. - Abandonment Fund: Cenit, considering the resolutions 31480 and 31661 of September 30, 2016, and October 26, 2016, respectively, issued in 2018 and 2019 invoices for the abandonment fund established by the Ministry of Mines and Energy, through which established the transportation rates for some of the Cenit systems for the 2015-2019 rate period. For its part, Frontera began an international arbitration process against Cenit and the Bicentenario, where the discrepancies and disputes associated with the Investment Framework Agreement and the transportation contracts for the Caño Limón – Coveñas and Bicentenario Pipelines were in process. Settlement agreement Bicentenario, Cenit and Frontera On November 17, 2020, Cenit and Oleoducto Bicentenario de Colombia, subsidiaries of Ecopetrol, reached an agreement with Frontera Energy and filed a conciliation request with the Attorney General's Office to resolve all their disputes. The Attorney General's Office issued a favorable concept for the agreement on March 24, 2021, and the Administrative Court of Cundinamarca approved the conciliation on November 5, 2021, once the approving order was executed, all the arbitration processes that existed due to the disputes already described were terminated. Within the signed agreement, it was established that Frontera would recognize the existence of the contracts in dispute as of December 31, 2019, transfering to Cenit its 43.03% of shares in the Oleoducto Bicentenario, the resources of the trust company assignment corresponding to the tariff disagreement, and deliver to Cenit the full line of the Oleoducto Bicentenario, in addition to allowing the company to offset a portion of its Bicentenario syndicated debt with the pending dividends to be declared and existing accounts receivable in favor of Frontera as of December 31, 2019. Frontera also signed new transportation contracts with Cenit and its subsidiaries Oleoducto Bicentenario and Oleoducto de los Llanos Orientales (ODL) once the conciliation took effect after the legally required approvals. Settlement agreement Bicentenario, Cenit and Canacol On October 30, 2020, Cenit and Canacol reached a settlement agreement to resolve all their disputes. The agreement included a full and final mutual release of all present and future amounts claimed by all parties related to the transportation contracts terminated by the Caño Limón - Coveñas pipeline. On November 18, 2020, the Arbitration Court approved the conciliation agreement between Cenit and Canacol, which considered that Canacol was forced to transfer all its outstanding shares in Oleoducto Bicentenario to Cenit. Additionally, as part of the agreement, Canacol entered in new transportation contracts with Cenit. The contracts allow Cenit to obtain payment of certain amounts included in the settlement, during the term of the contracts. Settlement agreement Bicentenario, Cenit and Vetra On November 23, 2020, Cenit and Vetra reached a settlement agreement to resolve all their disputes. The agreement included a full and final mutual release of all present and future amounts claimed by all parties related to the transportation contracts with early termination for the Caño Limón - Coveñas Pipeline. On February 18, 2021, the Arbitration Court approved the conciliation agreement between Cenit and Vetra, which considered that Vetra must transfer all its outstanding shares in Oleoducto Bicentenario to Cenit, and to make a cash payment for the remaining amounts included in the agreement. Refinería de Cartagena S.A.S. Arbitration tribunal: 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 in damages plus lost profits. 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 & Iron Company filed a response to Reficar's non-detailed defense of the counterclaim, updating the value of its claim to approximately USD $137 million and COP $503,241 million, including interest. Likewise, CB&I presented its detailed defense to Reficar's claim. On this same date, 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. In relation to this matter, as of December 31, 2021, 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. As a consequence 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. Between May 17 and June 16, 2021, the first two blocks of the hearing were held, in which the evidence in the Arbitration against CB&I was presented. On June 16, 2021, the Court ordered the submission of post-hearing briefs for October 15 and November 5, 2021. Likewise, the Court summoned the parties to a hearing on closing arguments for November 18, and 19, 2021. On August 16, 2021, the parties requested the Court to modify the procedural calendar, consisting of slightly altering the dates of presentation of the post-hearing briefs. On August 26, 2021, the Court granted the request of the parties, so the post-hearing briefs were presented on October 22 and November 10, 2021. The closing arguments hearing was held in a single session on November 18, 2021, and the session scheduled for November 19, 2021, was dispensed with. Subsequently, on December 20, 2021, Refinería de Cartagena presented its memorial for costs in the Arbitration against CB&I. Until the Court issues its final decision, the result of this arbitration is unknown. 23.4 Reficar is a wholly owned subsidiary of Ecopetrol. According to Colombian regulations, Ecopetrol’s and Reficar’s employees are considered public servants, and as such can be held liable for negligent use or management of public resources. In this context, given that Ecopetrol is majority owned by the Colombian Government and Reficar is a wholly owned subsidiary of Ecopetrol, Ecopetrol and Reficar administer public resources. As a result, Ecopetrol and Reficar employees are generally subject to the control and supervision of the following control entities, among others: 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 – 110016000101201600023 - MOA - PIP and 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 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. The preparatory trial hearing continued from November 2 to 30, 2021. It was suspended to elaborate evidentiary stipulations between the FGN and the defense. It was restarted on January 12, 2022, and will continue with the processing of the stipulations, and later, with the evidentiary requests by the procedural subjects. Proceeding 2 - 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 were officially recognized as victims. On November 18, 2019, the preparatory trial hearing was installed, and it is currently being developed. Proceeding 3 – 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 were officially recognized as victims. On March 11, 2020, the preparatory hearing for the trial was installed. On October 4 and 13, 2021, the preparatory hearing for the trial continued, all the evidence, both from the FGN and the defenders, was requested and decreed. On February 7, the oral trial began, and the evidence requested by the Prosecutor’s Office and the defense were taken. On April 5, the practice of evidence concluded, and May 9, 2022, was cited as the date to present the closing arguments. Office of the Comptroller General (Contraloría General de la República – CGR): Financial Audit for the 2020 period The CGR executed a financial audit of Refinería de Cartagena between February 1 st th In the Final Audit Report, three issues of an administrative nature are established, and it is indicated that (i) the budget execution is reasonable, since the budget was prepared and executed in accordance with the applicable regulations, (ii) the internal financial control was efficient, since it is adequate and effective controls according to the risks that are inherent to the different processes, procedures and activities during the 2020 period, (iii) that the accounting opinion is negative, since the CGR considered that the Financial Statements “do not present reasonably in all important aspects 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 - 2017-00309_UCC-PRF-005-2017 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 Refinería de Cartagena. 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 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. The Plenary Chamber of the Council of State, through an Order dated August 26, 2021, decided not to acknowledge the automatic control of the legality of the fiscal responsibility ruling. The parties affected by the ruling may sue the administrative act directly before the jurisdiction, once it is final. - PRF-2018-00684-PRF-017-2018 Due to the late entry into operation that generated lost profits, the CGR is executing an independent process in which various requirements have been met. To date, the CGR has not issued an indictment. - PRF-80011-2018-33300 Through Order No. 1328 of August 24 th According to the press release, the CGR attributes the alleged damage to unidentified expenses associated with the Project, amounting to US$9,240,927 from the period June to December 2015 and US$12,447,618 from the periods 2016 to 2018; and 268.71 MUSD that, being approved and entered the refinery budget, do not show what was executed within the Project. Through official letter 2021EE0138643 of August 26, 2021, the Intersectoral Comptroller's Office number 15 informed to Refinería de Cartagena of the closure of the Preliminary Inquiry UCC-IP-005-2019 and the opening of the Ordinary Process of Fiscal Responsibility PRF-80011-2018-33300, in which Refinería de Cartagena and Ecopetrol are affected entities. The CGR has been recognizing legal status to act on the different trusted representatives of those under investigation and has resolved their different requests through orders. As of the date of this report, the financial statements continue to adequately disclose the Ecopetrol Business 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. 23.5 Detail of contingent liabilities The following is a summary of the main contingent liabilities that have not been recognized in the statement of financial position as, according to the evaluations made by internal and external advisors of the Ecopetrol Business Group, the expectation of loss is not probable as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Number of ​ Number of ​ Type of process ​ processes ​ Proceedings ​ processes ​ Proceedings Constitutional 86 1,336,966 254 15,810,766 Ordinary administrative 146 1,867,591 158 726,557 Labor 788 87,175 674 57,136 Civil 58 13,148 55 6,363 Penal 1 — 2 595 ​ 1,079 3,304,880 1,143 16,601,417 ​ 23.6 Details of contingent assets The following is a breakdown of the Ecopetrol Business Group’s principal contingent assets, where the inflow of economic benefits is probable, but not virtually certain. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Number of ​ Number of ​ Type of process ​ processes ​ Proceedings ​ processes ​ Proceedings Ordinary administrative 62 217,550 109 404,830 Arbitration 1 78,600 2 138,386 Civil 188 23,258 171 87,871 Penal 72 55,385 149 61,466 Labor 185 4,714 132 3,555 Constitutional 4 — 5 — ​ 512 379,507 568 696,108 ​

Equity

Equity	12 Months Ended
	Dec. 31, 2021
Equity
Equity	24. Equity The main components of equity are detailed below: 24.1 Ecopetrol’s authorized capital amounts to $36,540,000, and is comprised of 60,000,000,000 ordinary shares, of which 41,116,694,690 are outstanding, and 11.51% (4,731,906,273 shares) are held privately and 88.49% (36,384,788,417 shares) are held by the Colombian Government. The value of the reserve shares amounts to $11,499,933 comprised of 18,883,305,310 shares. As of December 31, 2021, and 2020, subscribed and paid–in capital amounts to COP$25,040,067. There are no potentially dilutive shares. 24.2 Additional paid–in capital mainly corresponds to: (i) share premium from the Ecopetrol Business Group’s capitalization in 2007, for $4,457,997, (ii) share premium from the sale of shares awarded in the second capitalization, which took place in September 2011, of $2,118,468, iii) a $31,377 share premium from the placement of 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, and (iv) additional paid–in capital receivables for ($143). 24.3 The following is the composition of the Ecopetrol Business Group’s reserves as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Legal reserve 4,737,788 4,568,980 Fiscal and statutory reserves 509,082 509,082 Occasional reserves 5,377,359 4,557,074 ​ 10,624,229 9,635,136 ​ The movement of equity reserves is the following for the years ended December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Opening balance 9,635,136 3,784,658 Release of reserves (5,066,156) (540,826) Allocation to reserves 6,055,249 6,391,304 Closing balance 10,624,229 9,635,136 ​ 24.4 Ecopetrol Business 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 on March 26, 2021, decreed dividends on the profit for 2020, for a value of $698,984 (2020 - $7,401,005 and 2019 - $9,251,256). During 2021, dividends were paid for $696,387 for 100% of the shareholders, and the subsidiaries paid $2,074,900. As of December 2021, the total of dividends paid is $2,771,287 (2020: $8,734,351; 2019: $13,867,029). 24.5 The following is the composition of the other comprehensive income attributable to the shareholders of the parent, Ecopetrol, net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Foreign currency translation (1) 17,244,686 11,794,201 10,265,398 Cash flow hedge with derivative instruments (60,916) 44,132 3,689 Cash flow hedges for future exports (945,247) (136,470) (135,748) Actuarial gain on defined benefit plans ​ (517,278) ​ (2,260,989) ​ (2,357,210) Hedge of a net investment in a foreign operation (4,364,465) (1,494,926) (1,130,583) Others 1,114 1,114 1,114 ​ 11,357,894 7,947,062 6,646,660 (1) Includes the realization of other comprehensive income for $361,728 from the sale of the shares in the company Offshore International Group (OIG). ​ 24.6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Profit attributable to Ecopetrol’s shareholders ​ 15,649,143 ​ 1,586,677 ​ 13,744,011 Weighted average number of outstanding shares ​ 41,116,694,690 ​ 41,116,694,690 ​ 41,116,694,690 Net basic and diluted earnings per share (Colombian pesos) ​ COP$ 380.60 ​ COP$ 38.59 ​ COP$ 334.27 ​

Revenue from contracts with cus

Revenue from contracts with customers	12 Months Ended
	Dec. 31, 2021
Revenue from contracts with customers
Revenue from contracts with customers	25 . ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 National sales Mid–distillates (1) 17,140,327 8,860,588 15,041,883 Gasoline and turbo fuels (1) 15,475,370 6,768,046 9,658,180 Natural gas 3,200,069 2,845,155 2,256,123 Services 3,065,988 2,859,559 4,115,626 Plastic and rubber 1,642,035 865,204 834,133 LPG and propane 926,231 375,775 372,916 Fuel gas service 734,666 671,570 72,249 Electric power transmission services (2) 728,467 — — Asphalts 611,051 526,100 544,200 Polyethylene 320,466 138,035 192,436 Aromatics 247,387 155,740 228,552 Crude oil ​ 193,476 ​ 230,520 ​ 356,857 Roads and Construction Services (2) ​ 107,179 ​ — ​ — Fuel oil 23,799 37,001 97,907 Other income gas contracts ​ 2,879 ​ 32,190 ​ 102,845 Other products 402,828 322,232 431,201 Cash flow hedges (3) (8) — — ​ 44,822,210 24,687,715 34,305,108 Foreign sales Crude oil 34,868,421 20,086,173 28,521,993 Diesel 3,867,937 3,164,068 4,391,798 Fuel oil 2,288,977 1,044,811 1,870,929 Plastic and rubber 2,092,379 1,302,131 1,249,189 Electric power transmission services (2) 1,827,622 — — Roads and Construction Services (2) 1,241,144 — — LPG and propane 116,960 18,943 13,591 Natural gas 71,529 17,231 27,255 Gasoline and turbo fuels ​ — ​ 179,257 ​ 1,085,392 Other products ​ 1,033,909 ​ 580,411 ​ 408,427 Cash flow hedges (3) (349,884) (857,347) (385,170) ​ 47,058,994 25,535,678 37,183,404 ​ 91,881,204 50,223,393 71,488,512 (1) Corresponds 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). As of December 31, 2021, the value recognized by price differential corresponds to $11,335,453 (2020 $142,723 ; 2019 $1,785,277 ). See Note 4.17 – Revenue from contracts with customers. (2) Corresponds to the revenue related to the electric power transmission contracts and toll roads concessions of Interconexión Eléctrica S.A. E.S.P. See Note 4.17 – Revenue from contracts with customers. (3) Includes accumulated as of December 31 the result of i) hedges for future exports (Note 30.3) for ($249,978) (2020: ($193,374) ; 2019: ($386,773 )) and ii) operations with derivative financial instruments for ($99,914) (2020: ($663,973) ; 2019: $1,603 ), which are related to crude oil for ($99,913) (2020: ($587,591) ; 2019: $1,603 ), fuel oil for $7 (2020: ($76,382) ; 2019 : 0 ) and mid-distillates for ($8) (2020: 0 ; 2019: 0 ). To present comparative values, the cash flow hedges and hedges for future exports were grouped for the years 2020 and 2019. Sales by geographic areas ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 % 2020 % 2019 % ​ Colombia 44,822,210 48.8 % 24,687,715 49.2 % 34,305,108 48.0 % Asia 20,355,063 22.2 % 9,497,498 18.9 % 13,529,151 18.9 % United States 16,025,083 17.4 % 11,365,218 22.6 % 17,371,173 24.3 % South America and others 5,727,355 6.2 % 1,296,370 2.6 % 1,502,815 2.1 % Central America and the Caribbean 3,503,618 3.8 % 2,581,644 5.1 % 3,472,665 4.9 % Europe 1,447,875 1.6 % 794,948 1.6 % 1,307,600 1.8 % ​ 91,881,204 100 % 50,223,393 100 % 71,488,512 100 % ​ Concentration of customers During 2021, Organización Terpel S.A. represented 11.0% of sales revenue for the period (2020 – 15.0% and 2019 – 16.0%); no other customer represented more than 10% of total sales. There is no risk of the Ecopetrol Business Group’s financial situation being affected by a potential loss of the client. The commercial relationship with this customer is for the sale of refined products and transportation services. Revenues from concession contracts ISA, through its companies, promotes development in several countries through concessions acquired for the supplying of public energy transport services, services associated with the Management of Real Time Systems in Colombia and public road transport, through concessionaires in Chile and Colombia. The main concessions are the following: Concessions in Colombia Intelligent Network Systems, through a business collaboration agreement entered into with UNE EPM Telecomunicaciones S.A. and Consorcio ITS, executes the addendum number 5 of the Inter-administrative Agreement 5400000003 of 2006 with the Municipality of Medellín to "provide under the concession modality, the necessary technological infrastructure, the services for its modernization and optimization of the management of the administrative services of the Secretaría de Transporte y Tránsito of Medellín, through a complete solution of technology, information, communications and operation of the information and communications technology (ICT's)”, in which the payment consists in the right to participate in the resources received from the penalty fees collected through the photodetection system within the municipality. This contract is within the scope of IFRIC 12 under the intangible model, because the Municipality of Medellín, as the grantor, controls what services the operator must provide with the infrastructure, who must be charged, and at what price. In addition, the Municipality of Medellín controls, through ownership of the right of use, any significant residual interest in the infrastructure at the end of its useful life. Coastal Route Under the public-private partnership scheme, considering the terms of Law 1508 of 2012, and from the act of awarding the Public Tender VJ-VE-IP-LP-0011-2013, issued by the National Infrastructure Agency (ANI), through Resolution No. 862 of July 2, 2014, on September 10, 2014, the ANI and the concessionaire signed the Concession Contract No. 004 of 204. The purpose is to "execute the final studies and designs, environmental management, property, social management, construction, rehabilitation, improvement, operation, and maintenance of the corridor Cartagena-Barranquilla Project and Circunvalar de la Prosperidad”. This contract is within the scope of IFRIC 12 under the financial asset model for investment in construction (construction services). The concession receives income from the following sources of compensation: ANI contributions, tolls collections and revenues from commercial exploitation. If the concessionaire does not achieve the expected revenue from toll collection, the grantor (ANI) will recognize and pay the concessionaire the collection differential in years 8, 13 and 18, contractually denominated as present value of the reference month of toll collection. The revenue guarantees represent an unconditional contractual right to receive cash or other financial assets for construction services provided. The contractually guaranteed payment is a specific and determinable amount. As of December 31, 2021, a progress of 97.24% was obtained for Functional Unit 3 and 99.94% for Functional Unit 6, achieving a consolidated progress of the project of 99.91% and commissioning of the entire road corridor. Concessions in Brazil For concession contracts in Brazil to supply public electric power transmission services, the operator has the right in the contractual asset while the concessionaire complies with the obligation to build and implement the transmission infrastructure, recognizing revenues throughout the time of the project. At the end of the concession, the assets linked to it will be reverted, determining and calculating the compensation to be recognized by the operator. The concession contracts of ISA CTEEP and TAESA were analyzed and classified in accordance with IFRS 15 - Revenue from contracts with customers within the contractual asset model as of the 1st of January 2018. The value of the contractual asset of the electric power transmission concessionaires is formed by the present value of their future cash flows, which are determined at the beginning of the concession or in its extension and is revalued in the Periodic Tariff Review. The cash flows are defined based on the remuneration that the concessionaires receive for supplying the public transmission service to the users, Receita Anual Permitida (RAP). These resources amortize the investments made in the transmission infrastructure. Any investments that are not amortized (reversed assets) generate the right to compensation from the grantor, equivalent to the additional remuneration of the entire transmission infrastructure at the end of the concession contract. This flow of future collections is updated for inflation (IPCA/IGPM) and remunerated by a discount rate that represents the financial component of the business defined at the beginning of each project. During the stage of the execution of the construction of the work, the concessionaire has the right to the consideration in accordance with the fulfillment of the completion of the work and the performance obligations, and not only with the time used for the construction. The revenue is recognized for the value of the expenses incurred in the formation of the asset plus a construction margin. Construction and remuneration revenues from concession assets are subject to deferral of the cumulative Social Integration Program and the Contribution for the Financing of Social Security (Cofins), recognized as deferred taxes (non-current liabilities). Concessions in Chile Road concession contracts for the supplying the public service of road infrastructure in Chile, may consider traffic risk or guaranteed total income according to a revenue distribution mechanism or a present value of revenue, which in the latter cases, allow the total revenue of the concession to be collected in a guaranteed way in present value. Additionally, in some concession contracts other concepts are included, such as the minimum guaranteed revenue and subsidies (both in construction and in operation stages); both correspond to payments from the State, subject to specific compliance of conditions by the concessionaire. The model applied to concessions in Chile will depend on whether there is a traffic risk, that is, whether its revenue is guaranteed or not and whether it is enough to pay for the investment. If the concession contract considers traffic risk, it is recognized according to IFRIC 12 as an intangible asset. This asset is amortized over the life of the concession operation. In the other hand, if the contract establishes income and compensation guarantee mechanisms, it is recognized as a financial asset. This asset is extinguished through payments received from road users, through the collection of tolls, or directly through payments from the Ministry of Public Works. Currently, ISA has road concessions in Chile applying the financial asset model.

Cost of sales

Cost of sales	12 Months Ended
	Dec. 31, 2021
Cost of sales
Cost of sales	26. Cost of sales ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Variable costs Imported products (1) 16,944,375 7,592,489 12,639,710 Purchases of crude in association and concession 10,015,898 4,281,661 5,466,496 Depreciation amortization and depletion 6,328,144 6,069,903 5,523,306 Purchases of hydrocarbons – ANH (2) 5,611,153 2,798,432 5,437,177 Taxes and economic rights 1,125,761 841,443 788,924 Electric energy 1,087,269 1,098,621 829,543 Hydrocarbon transport services 917,552 874,632 821,654 Process materials 906,500 827,464 1,016,617 Purchases of other products and gas 811,024 598,015 584,507 Services contracted in associations 267,934 269,637 267,778 Others (3) (3,009,700) 657,634 (676,269) ​ 41,005,910 25,909,931 32,699,443 Fixed costs ​ ​ ​ Depreciation and amortization 3,270,735 2,930,120 2,781,446 Services contracted 2,756,000 1,623,375 1,841,009 Maintenance 2,637,857 2,257,370 2,497,002 Labor costs 2,596,947 2,299,761 2,316,567 Services contracted in associations 1,286,291 1,121,010 1,211,510 Taxes and contributions 1,060,123 593,041 516,933 Materials and operating supplies 561,182 508,037 574,678 Hydrocarbon transport services 57,855 253,752 268,572 General costs (4) 348,876 71,075 265,200 ​ 14,575,866 11,657,541 12,272,917 ​ 55,581,776 37,567,472 44,972,360 (1) Imported products correspond mainly to gasolines, naphtha, and diluent to facilitate the transport of heavy crude oil. (2) Corresponds to purchases of crude oil by Ecopetrol from the National Hydrocarbons Agency (ANH, by its acronym in Spanish) derived from national production. (3) Corresponds to: i) result of the process of use and valuation of core inventories, ii) measurement at net realizable value and iii) other capitalizable charges to projects. The variation corresponds to the recovery of international indicators that affects the valuation, and higher volumes. (4) Includes the transfers to operating expenses of the costs related to Refinería de Barranca units without production due to the decrease in loading capacity due to the health emergency caused by COVID-19 .

Administrative, operations and

Administrative, operations and project expenses	12 Months Ended
	Dec. 31, 2021
Administrative, operations and project expenses
Administrative, operations and project expenses	27. Administrative, operations and project expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Administrative expenses General expenses (1,638,129) (1,424,348) (1,140,975) Labor expenses (1) (1,264,319) (1,658,613) (759,324) Depreciation and amortization (386,732) (229,792) (202,547) Taxes (52,889) (60,397) (48,753) ​ (3,342,069) (3,373,150) (2,151,599) Operations and project expenses ​ ​ ​ Exploration costs (959,562) (689,087) (763,452) Commissions fees freights and services (686,156) (656,432) (558,370) Taxes (515,848) (428,608) (483,330) Labor expenses (312,791) (309,972) (402,531) Depreciation and amortization (2) (174,311) (94,723) (75,484) Maintenance (156,412) (78,181) (56,333) Fee for regulatory entities (139,158) (142,695) (94,785) Others ​ (209,319) ​ (186,318) ​ (197,469) ​ (3,153,557) (2,586,016) (2,631,754) (1) Since 2020, it includes the recognition of the new voluntary retirement plan for 94 workers for 2021 (2020: 421 ). (2) It includes the right-of-use assets amortizations for $28,441 (2020: $10,814 ; 2019: $14,532 ).

Other operating (expenses) inco

Other operating (expenses) income	12 Months Ended
	Dec. 31, 2021
Other operating (expenses) income
Other operating (expenses) income	28. Other operating (expenses) income ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Expense for legal provisions ​ (650,926) ​ (139,978) ​ (98,020) Loss on sale of assets (123,342) (263,647) (148,021) Impairment loss of short–term assets (83,773) (34,416) (90,441) Gain on revaluation of assets in Guajira association (1) — 1,284,372 — Gain on acquisition of participations and interests (1) — 86,026 1,048,924 Gain on loss of control in subsidiaries (2) — 65,695 — Other income (3) 785,297 120,114 344,354 ​ (72,744) 1,118,166 1,056,796 (1) Results in the acquisition of Guajira in 2020: Ecopetrol $1,284,372 and Hocol $86,026 . For Ecopetrol it corresponds to the revaluation of the assets that it already had in the Guajira association and for Hocol it corresponds to the Bargain obtained from the acquisition of the 43% stake. For 2019, this corresponds mainly to gains related to the business combination of Invercolsa S.A. (2) Recognition in 2020 of the disposal 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. $65,570 (Note 2.2). Liquidation process of ECP Oil and Gas Germany GmbH COP $125 . (3) It mainly corresponds to the compensation received by Cenit Transporte y Logística de Hidrocarburos and Oleoducto Bicentenario de Colombia, because of the approval of the conciliation agreement with the Frontera Group (Note 23.3).

Financial result

Financial result	12 Months Ended
	Dec. 31, 2021
Financial result
Financial result	29. Financial result ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Finance income Yields and interests 266,116 299,246 481,674 Results from financial assets and others 108,640 665,310 975,245 Gain on derivatives valuation ​ 10,289 ​ 108,838 ​ — Dividends (1) 27 44 117,260 Other financial income 18,520 27,992 49,157 ​ 403,592 1,101,430 1,623,336 Finance expenses ​ ​ ​ Interest (2) (3,095,224) (2,384,342) (1,894,490) Financial cost of other liabilities (3) (1,043,728) (872,987) (757,509) Results from financial assets (101,973) (473,598) (638,767) Other financial expenses (190,723) (198,864) (43,703) ​ (4,431,648) (3,929,791) (3,334,469) Foreign exchange gain ​ ​ ​ ​ (Loss) gain from exchange difference ​ (31,726) ​ 346,774 ​ 40,639 Gain from realization of other comprehensive income on sale of joint ventures (Note 13) ​ 361,728 ​ — ​ — ​ ​ 330,002 ​ 346,774 ​ 40,639 ​ ​ ​ ​ ​ ​ ​ Financial result (3,698,054) (2,481,587) (1,670,494) (1) In 2007, Arrendadora Financiera Internacional Bolivariana (AFIB) and Ecopetrol signed an agreement to constitute a trust fund, in which Invercolsa deposited dividends corresponding to 8.53 % of the participation in dispute, regarding the shares acquired by Fernando Londoño. In 2019, as a result of the sentence of the Supreme Court of Justice, Ecopetrol received the amount of dividends that were in that trust. (2) As of December 31, 2021, borrowing costs for the financing of developing natural resources and property, plant, and equipment of COP $255,707 (2020 – COP $247,501 and 2019 – $ 248,139 ) were capitalized. (3) Includes the financial expense of the asset retirement obligations and the liabilities for post–employment benefits .

Risk management

Risk management	12 Months Ended
	Dec. 31, 2021
Risk management
Risk management	30. Risk management 30.1 Exchange rate risk The Ecopetrol Business Group operates mainly in Colombia and makes sales in the local and international markets, for that reason, it is exposed to exchange rate risk. As of December 31, 2021, the Colombian peso depreciated 15.98%, going from a closing rate as of December 31, 2020 of COP$3,432.50 to COP$3,981.16 pesos per dollar. When the Colombian peso depreciates, export earnings, when converted to pesos, increase, and imports and external debt service become more expensive. The balance of financial assets and liabilities denominated in foreign currency for the years ended December 31, is presented in the following table: ​ ​ ​ ​ ​ ​ (in USD$Million) 2021 2020 Cash and cash equivalents 388 197 Other financial assets 408 1,164 Trade receivables and payables, net 423 203 Loans and borrowings (15,514) (11,814) Other assets and liabilities, net 702 277 Net liability position (13,593) (9,973) ​ Of the total net position, USD$(13,306) million correspond to net liabilities of companies with the Colombian peso as its functional currency, of which USD$(13,180) correspond to loans used as hedging instruments whose valuation is recognized in other comprehensive income, the exchange rate difference valuation of the remaining net liabilities for USD$(126) million affect the profit or loss. Likewise, USD$(287) million of the net position correspond to monetary assets and liabilities of Ecopetrol Business Group companies with a functional currency different from the Colombian peso, whose valuation is recognized in profit or loss. 30.2 The following is the effect of a change of 1% and 5% in the exchange rate of the Colombian peso as compared with the U.S. dollar, on the balance of financial assets and liabilities denominated in foreign currency as of December 31, 2021: ​ ​ ​ ​ ​ ​ Scenario / Variation in Effect on income Effect in other the exchange rates ​ before taxes +/– ​ comprehensive income +/– 1 % 16,432 524,727 5 % 82,161 2,623,635 ​ 30.3 In order to present on financial statements, the effect of the natural hedge between exports and debt, and considering that the exchange rate risk materializes when the exports are made, on October 1, 2015, the Board of Directors designated the amount of USD$5,440 million of Ecopetrol’s foreign currency debt as a hedge instrument of future revenue from crude oil exports, for the period 2015–2023. In 2021, USD$3,672 million were additionally designated as a hedging instrument for its future income from crude oil exports, for the period 2022-2026; in accordance with IFRS 9 – Financial Instruments. The following is the movement of foreign currency debt designated as a non–derivative hedging instrument for the years ended December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ (US$Million) 2021 2020 Hedging instrument at the beginning of the period 1,300 1,300 Reassignment of hedging instruments 675 1,230 Realization of exports (675) (1,230) Designation of new coverage 3,672 — Hedging instrument at the end of the period 4,972 1,300 ​ The following is the movement in other comprehensive income for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Opening balance (136,470) (135,748) (374,079) Exchange difference (1,533,743) (201,967) (35,607) Reclassification to profit or loss 249,978 193,374 386,773 Ineffectiveness 24,496 9,779 5,173 Deferred income tax 450,492 (1,908) (118,008) Closing balance (945,247) (136,470) (135,748) ​ The expected reclassification of the cumulative exchange difference from other comprehensive income to the profit or loss is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Year ​ Before taxes ​ Taxes After taxes 2022 (1,426,676) (499,337) (927,339) 2023 ​ 121,948 ​ 42,682 ​ 79,266 2024 ​ (118,164) ​ (41,357) ​ (76,807) 2025 (73,332) (25,666) (47,666) 2026 41,998 14,699 27,299 ​ (1,454,226) (508,979) (945,247) ​ 30.4 The Board of Directors approved the application of net investment hedge accounting from June 8, 2016. The measure is intended to reduce the volatility of non–operating income due to exchange rate variations. The net investment hedge will be applied on a portion of the Ecopetrol Business Group’s investments in foreign operations, in this case on investments in subsidiaries which have the U.S. dollar as their functional currency, using a portion of the Ecopetrol Business Group’s U.S. dollar denominated debt as the hedging instrument. Ecopetrol designated as the hedged item the 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 equivalent to USD$5,200 million. During 2021 Ecopetrol expanded this hedge for USD$1,229 million to add a greater amount of designation for Refinería de Cartagena. In 2021, also capital payments of USD$270 million were made (June USD$163 and December USD$107 million). The total hedged balance as of December 31, 2021, is USD$8,208 million ( 2020 Additionally, ISA Colombia made a net investment hedge on the investments in the companies REP, ISA Perú, CTM and PDI for a value of USD$330 million. The hedging instrument corresponds to a green international bond issued on November 26, 2021. The following is the movement in other comprehensive income attributable to owners of parent for the years ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Opening balance 1,494,926 1,130,583 1,069,316 Exchange difference 4,577,887 520,490 87,524 Deferred income tax (1,708,348) (156,147) (26,257) Closing balance 4,364,465 1,494,926 1,130,583 ​ 30.5 In 2020, Ecopetrol carries out non-delivery forward operations for the sale of dollars in order to mitigate the volatility of the exchange rate in the cash flow required for the Company's operations for around USD$420 million, during the year 2021 Ecopetrol did not sign contracts for this type of operation. The ISA Group has hedges with derivative financial instruments – CCS (Cross Currency Swaps) and IRS (Interest Rate Swap) to hedge exchange rates. These hedges are recognized as cash flow hedges. ​ ​ ​ ​ ​ ​ ​ ​ Company Derivative instrument 2021 2020 Red de Energía del Perú (1) Cross currency swap 106,333 — Intervial Chile (2) Cross currency swap 30,769 — Ruta del Maipo (3) Cross currency swap 11,042 — ​ ​ 148,144 ​ — (1) The company designated these derivative instruments as cash flow hedges, to mitigate exposure to exchange rate volatility of interest payments in Peruvian sol of the First Issue Series A and First Issue Series B of the Third Corporate Bond Program, considering that its functional currency is the US dollar. (2) In 2021, a UF currency hedging operation was subscribed as a debt strategy in Chilean pesos. (3) The subsidiary has a cross currency swap as a hedging instrument, the purpose of which is to reduce exposure to changes in future cash flows due to changes in the exchange rate that affect the bond held by the entity in US dollars and the UF variation due to future flows from toll collections. Additionally, the ISA Group has forward derivatives USD/BRL to mitigate the exchange risk for commitments in dollars with suppliers of the IE Jaguar 07 project, as of December 31, 2021, the balance corresponds to $13,019 (asset position). 30.6 The price risk of raw materials is associated with Ecopetrol Business Group’s operations, both exports and imports of crude oil, natural gas and refined products. In order to mitigate this risk, the Group has implemented hedges to partially protect the results from price fluctuations, considering that part of the financial exposure under contracts for the purchase of crude oil and refined products depends on the international oil prices. The risk of such exposure is partially hedged in a natural way, as an integrated Group (with operations in the exploration and production, transportation and logistics and refining segments) and carries out both crude exports at international market prices and sales of refined products at prices correlated with international prices. Ecopetrol Business Group has a policy for the execution of (strategic and tactical) hedges and implemented processes, procedures, and controls for their management. The main purpose of the strategic hedging program is to protect the Group’s consolidated financial statements from the volatility of market variables in each period of time, to protect income and thus cash flow. On the other hand, tactical hedges allow to capture value in trading operations and Asset Backed Trading (ABT), thereby mitigating the market risk of specific operations. The following is the detail of the operations during 2021: The commitments in physical spots and term contracts in the commercialization activity represent an exposure to the price risk of commodities, in particular the risk associated with the volatility of the price of crude oil and refined products. Although said exposure is part of the natural risk of the production, refining and commercialization activity carried out by Ecopetrol, in order to maximize value capture, Ecopetrol can concentrate the risk exposure in terms of time and/or indicator that differs from the Company’s natural price risk profile. Swaps operations for 27.5 MMBLS to mitigate risks associated with storage marketing strategies, anticipated purchases of raw materials, supply to refineries and international sales delivered at the destination port expired last year. As of the date of this report, Ecopetrol Business Group has in its liability a net swap position of $34,395 (2020: net asset position $7,572). These derivative operations are recognized under cash flow hedge accounting. 30.7 Credit risk is the risk that the Ecopetrol Business Group may suffer financial losses because of default of: (a) payments by its clients for the sale of crude oil, gas, products or services; (b) financial institutions in which it keeps investments, or (c) by counterparties with which it has contracted financial instruments. Credit risk related to customers In the selling process of crude oil, gas, refined products and petrochemicals, and transport services, the Ecopetrol Business Group may be exposed to credit risk in the event that customers fail to fulfill their payment obligations. The Ecopetrol Business Group’s risk management strategy has designed mechanisms and procedures that aim to minimize such events, thus safeguarding the Ecopetrol Business Group’s cash flow. The Ecopetrol Business Group performs a continuous analysis of the financial strength of its counterparties, by classifying them according to their risk level and financial guarantees in the event of a default of payments. Similarly, the Ecopetrol Business Group continuously monitors national and international market conditions for early alerts of major changes that may have an impact on the timely payment of obligations from customers. For the receivables that are considered exposed to credit risk, Ecopetrol Business Group make individual analysis of each customer’s situation to determine the value of impairment to recognize in financial statements. The Ecopetrol Business Group performs administrative and legal actions required to recover amounts past due and charges interest from customers that fail to comply with payment policies. An aging analysis of the accounts receivable portfolio in arrears, but not impaired, as of December 31, 2021, and 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Less than 3 months overdue 332,249 56,144 Between 3 and 6 months overdue 7,103 1,270 More than 6 months overdue 4,418 301,858 ​ 343,770 359,272 ​ Credit risk in financial assets Following the promulgation of Decree 1525 of 2008, which provides general rules on investments for public entities, Ecopetrol’s management established guidelines for its investment portfolios. These guidelines determine that investments in Ecopetrol’s U.S. dollar portfolios are generally limited to investments of cash excess in fixed–income securities issued by entities rated A or higher in the long term and A1/P1/F1 or higher in the short term (international scale) by Standard & Poor’s Ratings Services, Moody’s Investors Service or Fitch Ratings. In addition, Ecopetrol may also invest in securities issued or guaranteed by the United States of America or Colombia governments, without regard to the ratings assigned to such securities. In Ecopetrol’s Colombian Peso portfolio, it must invest the cash excess in fixed–income securities of issuers rated AAA in the long term, and F1+/BRC1+ in the short term (local scale) by Fitch Ratings Colombia or BRC Standard & Poor’s. Likewise, the Company may also invest in securities issued or guaranteed by the national government without qualification restrictions. In order to diversify the risk in the Colombian Peso portfolio, Ecopetrol does not invest more than 10% of the cash excess in one specific issuer. In the case of the U.S. dollar portfolio, Ecopetrol does not invest more than 5% of the cash excess in one specific issuer in the short term (up to one year), or 1% in the long term. The credit rating of issuers and counterparties in transactions involving financial instruments is disclosed in Note 6 – Cash and cash equivalents, Note 9 – Other financial assets and Note 22 – Provisions for employees’ benefits. 30.8 Interest rate risk arises from Ecopetrol’s exposure to changes in interest rates because the Ecopetrol Business Group has investments in fixed and floating–rate instruments and has issued floating rate debt linked to LIBOR, DTF and CPI interest rates. Thus, interest rate volatility may affect the fair value and cash flows of the Ecopetrol Business Group’s investments and the financial expense of floating rate loans and financing. As of December 31, 2021, 25.7% (2020, 16% and 2019, 17%) of the Ecopetrol Business Group’s indebtedness is linked to floating interest rates. As a result, if market interest rates rise, financing expenses will increase, which could have an adverse effect on the results of operations. Ecopetrol controls the exposure to interest rate risk by establishing limits to the portfolio duration, Value at Risk – VAR and tracking error. Autonomous equities linked to Ecopetrol’s pension obligations are also exposed to changes in interest rate, as they include fixed and floating rate instruments that are recognized according to the mark to market. Colombian regulation for pension funds, as stipulated in the Decree 941 of 2002 and Decree 1861 of 2012, indicates that they must follow the same regime as the regular obligatory pension funds in their moderate portfolio. The following table provides information about the sensitivity of the Ecopetrol Business Group’s results and other comprehensive income for the next 12 months to variations in interest rate of 100 basis points: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect on Other ​ ​ Effect on profit or loss (+/–) ​ Comprehensive Income (+/–) ​ ​ Financial ​ Financial ​ ​ ​ Assets Liabilities Plan Assets +100 basis points (22,082) 603,559 (499,144) –100 basis points 22,082 (569,008) 508,441 ​ A sensitivity analysis of discount rates on pension plan assets and liabilities is disclosed in Note 22 – Provisions for employees’ benefits. 30.9 The ability to access credit and capital markets to obtain resources for the investment plan execution for Ecopetrol Business Group may be limited due to adverse changes in market conditions. A global financial crisis could worsen risk perception in emerging markets. Events that could affect the political and regional environment of Colombia may make it difficult for our subsidiaries to access the capital markets. These conditions, together with potential significant losses in the financial services sector and changes in credit risk assessments, may make it difficult to obtain resources on favorable terms. As a result, the Ecopetrol Business Group may be forced to review the conditions of the investment plan (as necessary), or access financial markets under unfavorable terms, thereby negatively affecting the Ecopetrol Business Group’s results of operations and financial results. Liquidity risk is managed in accordance with the Ecopetrol Business Group’s policies aimed at ensuring that enough cash flows to comply with the Ecopetrol Business Group’s financial commitments within the established dates and with no additional costs. The main method for the measurement and monitoring of liquidity is cash flow forecasting. The following is a summary of the maturity of financial liabilities as of December 31, 2021. The amounts disclosed in the table are the contractual undiscounted cash flows. The payments in foreign currency were restated taking a constant exchange rate of COP$3,981.16 per U.S. dollar: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 year 1–5 years 5–10 years > 10 years Total Loans (payment of principal and interest) 5,808,268 46,594,900 24,851,089 31,568,975 108,823,232 Trade and other payables 13,568,231 78,091 — — 13,646,322 ​ 19,376,499 46,672,991 24,851,089 31,568,975 122,469,554 ​ 30.10 The main objective of the capital management of the Ecopetrol Business Group is to ensure a financial structure that optimizes the cost of capital, maximizes the rate of return to its shareholders and allows access to financial markets at a competitive cost to cover financial needs that support an investment grade credit rating profile. The following is the leverage ratio as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Loans and borrowings (Note 20) 95,060,928 46,731,754 ​ Cash and cash equivalents (Note 6) (14,549,906) (5,082,308) ​ Other financial assets (Note 9) (2,934,734) (3,071,659) ​ Net financial debt 77,576,288 38,577,787 ​ Equity 90,583,772 53,499,363 ​ Leverage 46.13 % 41.90 % ​ The movement of the net financial debt is detailed in Note 20.7.

Related parties

Related parties	12 Months Ended
	Dec. 31, 2021
Related parties
Related parties	31. Related parties Balances with associates and joint ventures as of December 31, 2021, and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ receivable ​ Other ​ Accounts ​ ​ ​ Other ​ receivable – Loans assets payable Loans liabilities Joint Ventures Equion Energy Limited (1) 925 — 1,386 12,997 1,483,701 233 Ecodiesel Colombia S.A. 1,521 — — 46,452 — — Interligação Elétrica Garanhuns S.A. — 28 — — — — Interligação Elétrica Paraguaçu S.A. ​ — 28 — — — — Interligação Elétrica Aimorés S.A. ​ — 28 — — — — Interligação Elétrica Ivaí S.A. ​ — 28 — — — — Derivex S.A. ​ — ​ 335 ​ — — — — Associates ​ ​ ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. ​ — ​ — ​ — ​ 5,211 ​ — ​ — Extrucol S.A. ​ — ​ — ​ — ​ 283 ​ — ​ — E2 Energía Eficiente S.A. E.S.P. 6,797 ​ — ​ — ​ 1,655 ​ — ​ — Balance as of December 31, 2021 9,243 447 1,386 66,598 1,483,701 233 Current 9,243 112 1,386 66,598 1,483,701 233 Non–current — 335 — — — — ​ 9,243 447 1,386 66,598 1,483,701 233 ​ (Note 7) (Note 7) (Note 11) (Note 21) (Note 20) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ receivable ​ Other ​ Accounts ​ ​ ​ Other ​ receivable – Loans assets payable Loans 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 Non–current — — — — — — ​ 7,748 97,300 7,093 72,316 1,277,046 1,664 ​ (Nota 7) (Nota 7) (Nota 11) (Nota 21) (Nota 20) ​ Loans: (1) Resources deposited by Equion in Ecopetrol Capital AG. Accounts receivable – Loans: (2) Offshore International Group Inc. loan granted by Ecopetrol This company is no longer part of the business group. See note 13. The main transactions with related parties as of December 31 are detailed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 ​ ​ Sales and ​ Purchases ​ Sales and ​ Purchases ​ Sales and ​ Purchases ​ services and others services and others services and others Joint Ventures Equion Energy Limited 13,996 149,046 27,595 356,872 317,382 569,105 Ecodiesel Colombia S.A. 35,825 442,373 8,268 346,201 8,614 280,649 Offshore International Group — — 4,461 — 3,245 — ​ ​ 49,821 ​ 591,419 ​ 40,324 ​ 703,073 ​ 329,241 ​ 849,754 Associates ​ ​ ​ ​ ​ ​ E2 Energía Eficiente S.A. E.S.P. 60,159 6,976 49,860 2,849 — — Gas Natural del Oriente S.A. E.S.P. ​ — ​ 27,175 ​ — ​ 26,141 ​ — ​ — Extrucol S.A. ​ — ​ 2,354 ​ — ​ 1,162 ​ — ​ — ​ 60,159 36,505 49,860 30,152 — — ​ ​ 109,980 627,924 90,184 733,225 329,241 849,754 ​ 31.1 In accordance with the approval given by the shareholders’ meeting in 2012, which was recorded in Minute No. 026, the directors' fees for attending the meetings of the Board of Directors and / or the committees increase from four to six legal monthly minimum legal monthly salaries in force. On the other hand, in the General Shareholders' Meeting of 2018, the amendment of the Corporate Bylaws that appears in Minute No. 036 was approved, by virtue of which, the fourth paragraph of article 23 was eliminated that made the differentiation between the fees for face-to-face and non-face-to-face meetings. The members of the Board of Directors do not have any kind of variable remuneration. The amount paid in 2021 for fees to members of the Board of Directors amounted to $3,757 (2020 - $3,102). The total compensation paid to Executive Officers and Senior Managers as of December 31, 2021, amounted to $27,735 (2020 – $24,068 and 2019 – $22,632). Executive Officers and Senior Managers are not eligible to receive pension and retirement benefits. Directors as of December 2021 are not eligible to receive benefits pension and retirement. As of December 31, 2020, the amount set aside to provide the benefits of pension and retirement for executives amounted to $13,413 (2019 – COP$18,740). As of December 31, 2021, key management officers owned less than 1% of the outstanding shares of Ecopetrol as follows: ​ Key management personnel % Shares Felipe Bayón <1% outstanding shares Jaime Caballero <1% outstanding shares ​ 31.2 The administration and management of resources for payment of Ecopetrol’s pension obligations are managed by autonomous pension funds (PAPs, by its acronym in Spanish) which serve as guarantee and payment sources. In 2008, Ecopetrol received the authorization to partially commute the value corresponding to monthly payments, bonds, and quotas, transferring said obligations and the money that support them to autonomous patrimonies of a pension nature, in accordance with the requirements of Decree 1833 of 2016. Since November 2016, the entities that manage the resources are: Fiduciaria Bancolombia, Fiduciaria de Occidente and Consorcio Ecopetrol PACC (formed by Fiduciaria La Previsora, Fiduciaria Bancoldex, Fiduagraria and Fiduciaria Central). These trust companies will manage the pension resources for a period of five years (2016-2021) and as compensation they receive remuneration with fixed and variable components, the latter are settled on the gross yields of the portfolios and charged to the resources managed. As of 2022, and after a rigorous selection and asset allocation process, the new trust companies that manage the funds related to the pension obligations are Fiduciaria BBVA, Fiduciaria Bogotá, and the Ecopetrol PACC 2021 Consortium, defined by Fiduprevisora, Fiducoldex, FiduAgraria and Fiducentral. 31.3 The Colombian Government controls Ecopetrol with a stock ownership of 88.49%. The most significant transactions with governmental entities are comprised as follows: (a) Purchase of oil from the National Hydrocarbons Agency – ANH The ANH, an entity which operates under the rules of the Ministry of Mines and Energy, has as objective to manage the oil and gas reserves and resources owned by the Colombian Nation. By nature of the business, Ecopetrol purchases the crude oil that the ANH receives from producers in Colombia at the prices set in accordance with an established formula, which reflects the sale prices (crude oils and products), adjusted for API gravity quality, sulfur content, transportation rates to the export ports, refining process cost and a commercialization rate (when apply). The contract between Ecopetrol and the ANH ended on October 30, 2021, and a new one began with effect from November 1, 2021, to October 31, 2022. Until December 2013 the Ecopetrol Business Group commercialized, on behalf of the ANH, the natural gas received by the latter in kind from producers. Since January 2014, ANH has received royalties in cash for the production of natural gas. The purchase value of oil and gas from ANH is detailed in Note 26 - Cost of sales. Additionally, Ecopetrol, like other oil and gas companies, takes part in “rounds” for the allocation of exploration blocks in Colombia without implying special treatment for Ecopetrol on count of it being an entity whose majority shareholder is the Colombian Government. (b) Refined Price Stabilization Fund The sale prices of regular gasoline and diesel are regulated by the National Government. In that way, there are differentials between the volume reported by the companies at the time of sale and the difference between the parity price and the reference price, the parity price being the one that corresponds to the daily prices of motor gasoline and diesel observed during the month. This differential can be for or against the producers, and it is a result of the application of Colombian Resolution 180522 of March 29, 2010, and other regulations that modify and add to it (Decree 1880 of 2014 and Decree 1068 of 2015), that establish the procedure to recognize the subsidy for refiners and importers of current motor gasoline and diesel, and the methodology for calculating the net position (the value arising from the differences between the parity price and the regulated price). The value of this differential is detailed in Note 25 - Revenue from contracts with customers and in Note 7 - Trade and other receivables, net. (c) National Tax and Customs Direction Ecopetrol, just like any other company in Colombia, has tax obligations that it must comply with and does not have any other kind of association or commercial relationship with the National Tax and Customs Direction of Colombia. For more information, see Note 10 - Taxes. (d) Comptroller General of the Republic Ecopetrol, just like any other state entity in Colombia, is obliged to comply with the requirements set out by the Comptroller General of the Republic and make an annual payment to this entity on account of a maintenance fee. Ecopetrol does not have any other kind of association or commercial relationship with this entity.

Joint operations

Joint operations	12 Months Ended
	Dec. 31, 2021
Joint operations
Joint operations	32. Joint operations The Ecopetrol Business Group carries out exploration and production operations through Exploration and Production (E&P) Contracts, Technical Evaluation (TEA) Contracts and Agreements signed with the National Hydrocarbons Agency or ANH, as well as through Partnership Contracts and other types of contracts. The main joint operations in 2021 are as follows: 32.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ % ​ Geographic area of Partners Contract Type Participation operations ​ ​ Chipirón ​ ​ ​ 30-41 % ​ SierraCol Energy Arauca, LLC Cosecha Production 30 % Colombia ​ Cravo Norte ​ ​ 55 % ​ ​ Rondón ​ ​ 50 % ​ Frontera Energy Colombia Corp Quifa Production 40 % Colombia ​ Casanare ​ 74.40 % ​ ​ Corocora ​ 83.91 % ​ Perenco Colombia Limited Estero ​ Production 95.98 % ​ ​ Garcero ​ ​ 91.22 % Colombia ​ Orocúe ​ ​ 86.47 % ​ ONGC Videsh Limited Sucursal Ronda Caribe RC-10 ​ Exploration 50 % Offshore Caribe Norte Colombia ​ ​ ​ ​ ​ ​ ​ ​ Petrobras ​ Tayrona ​ Exploration ​ 44 % Offshore Caribe Norte Shell EP Offshore ventures Limited Fuerte Sur ​ 50 % ​ ​ ​ Purple Angel ​ Exploration ​ 50 % Offshore Caribe Norte ​ ​ Col-5 ​ ​ ​ 50 % ​ Canacol ​ Rancho Hermoso ​ Production ​ 70 % Colombia ​ ​ Nuevas Formaciones ​ ​ ​ ​ ​ ​ ​ ​ Llanos 86 ​ ​ ​ 50 % ​ ​ ​ Llanos 87 ​ ​ ​ 50 % ​ Geopark ​ Llanos 104 ​ Exploration ​ 50 % Colombia ​ ​ Llanos 123 ​ ​ ​ 50 % ​ ​ ​ Llanos 124 ​ ​ ​ 50 % ​ ​ ​ Mana ​ ​ ​ 30 % ​ Interoil Colombia ​ Ambrosia ​ Production ​ 30 % Colombia ​ ​ Rio Opia ​ ​ ​ 30 % ​ Lewis ​ SSJN1 ​ Exploration ​ 50 % Colombia ​ ​ Saturno ​ ​ ​ 10 % ​ Shell ​ Sul de Gato do Mato ​ Exploration ​ 30 % Brazil ​ ​ Gato do Mato ​ ​ ​ 30 % ​ BP Energy Pau Brasil Exploration 20 % Brazil Occidental Midland Basin, LLC ​ Rodeo Midland Basin ​ Production ​ 49 % Midland, Texas, USA (Oxy) ​ ​ ​ ​ ​ ​ ​ ​ Quarter North Energy ​ Gunflint ​ Production ​ 32 % Golfo de México Murphy Exploration and Dalmatian Production 30 % Golfo de México Production Company - USA ​ ​ ​ ​ ​ OXY (Anadarko)- K2 ​ K2 ​ Production ​ 21 % Golfo de México Shell Offshore LLC Rydberg Exploration 29 % Golfo de México Hess Corportation ​ ESOX ​ Production ​ 21 % Golfo de México Pemex Exploración y Producción ​ Bloque 8 ​ Exploration ​ 50 % Golfo de México PC Carigali Mexico Operation SA ​ Bloque 6 ​ Exploration ​ 50 % Gulf of Mexico ​ 32.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ % ​ Geographic area of Partners Contract Type Participation operations ​ VMM29 ​ Exploration 50 % ​ ​ CR2 ​ ​ ​ 50 % ​ ExxonMobil Exploration Colombia C62 ​ ​ ​ 50 % Colombia ​ ​ VMM37 ​ ​ ​ 100 % ​ ​ ​ KALE ​ ​ ​ 0 % ​ Repsol Colombia SA CPO9 ​ Exploration 55 % Colombia ONGC Videsh Limited Sucursal Colombia RC9 ​ Exploration 50 % Colombia CPVEN E&P Corp. Sucursal Colombia VMM32 ​ Exploration 51 % Colombia Shell Exploration and Production CR4 ​ Exploration 50 % Colombia SK Innovation Co Ltd. San Jacinto ​ Exploration 70 % Colombia Repsol Exploración Colombia S.A. Catleya ​ Exploration 50 % Colombia Emerald Energy PLC Suc. Colombia Cardon ​ Exploration 50 % Colombia Parex Resources Colombia Ltd. ORC401 CRC-2004-01 ​ Exploration 50 % Colombia Repsol Colombia Oil & Gas Limited ​ CPO9 – Akacias ​ Production ​ 55 % Colombia SierraCol Energy Arauca, LLC La Cira Infantas ​ Production 58 % ​ ​ Teca ​ ​ 86 % Colombia Perenco Oil And Gas San Jacinto Rio Paez ​ Production 68 % Colombia Cepsa Colombia ​ ​ ​ ​ ​ ​ ​ ​ Total Colombie ​ Mundo Nuevo ​ Exploration ​ 15 % Colombia Repsol Exploración Colombia SA ​ ​ ​ ​ ​ ​ ​ ​ Equion Energía Limited ​ ​ ​ ​ ​ ​ ​ ​ Emerald Energy Colombia Oleoducto Alto Magdalena ​ OAM 45 % Colombia Frontera Energy ​ ​ ​ ​ ​ ​ Lewis Energy Colombia Inc Clarinero ​ Exploration 50 % Colombia Total Colombie Niscota ​ Production 20 % Colombia ​ The Company acquires investment commitments at the moment of receiving the exploration and/or exploitation rights of a determined area by the competent authority. ​ 32.3 Commitments for joint ventures ​ According to the process for exploration wells, Ecopetrol Business Group has certain commitments to meet minimum expenditure requirements on the exploration assets. The Ecopetrol exploration commitments as of December 2021, correspond to $USD 562.9 million. This value includes the contracts Llanos and Tayrona, which represent $USD 61.6 million and $USD 73 million of commitments, respectively.

Information by segments

Information by segments	12 Months Ended
	Dec. 31, 2021
Information by segments
Information by segments	33. Information by segments A description of the Ecopetrol Business Group’s business segments is in Note 4.20 - Information by business segment. The following segment information is reported based on the information used by the Board of Directors as the top body to make 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 between the Ecopetrol Business Group companies. 33.1 Below are the consolidated statements of profit or loss by segment for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Electric ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Power ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ transmission ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Transport ​ and toll ​ ​ ​ ​ ​ and Refining and and roads ​ ​ ​ ​ ​ Production ​ Petrochemicals ​ Logistics ​ concessions ​ Eliminations Total Third–party sales 38,552,572 46,658,196 2,557,238 ​ 4,113,198 — 91,881,204 Inter–segment sales 24,696,380 4,318,189 9,601,228 ​ — (38,615,797) — Total sales revenue 63,248,952 50,976,385 12,158,466 ​ 4,113,198 (38,615,797) 91,881,204 Variable cost (30,473,145) (44,860,928) (531,361) ​ — 34,859,524 (41,005,910) Fixed cost (9,861,987) (3,674,460) (2,728,948) ​ (1,817,491) 3,507,020 (14,575,866) Cost of sales (40,335,132) (48,535,388) (3,260,309) ​ (1,817,491) 38,366,544 (55,581,776) Gross profit 22,913,820 2,440,997 8,898,157 ​ 2,295,707 (249,253) 36,299,428 Administrative expenses (1,987,817) (784,214) (457,217) ​ (322,939) 210,118 (3,342,069) Operation and project expenses (1,882,686) (944,616) (404,264) ​ (460) 78,469 (3,153,557) Impairment of non–current assets 438,020 (305,466) (165,901) ​ (4) — (33,351) Other operating income and expenses net (617,893) 10,749 591,829 ​ (51,267) (6,162) (72,744) Operating income (expenses) 18,863,444 417,450 8,462,604 ​ 1,921,037 33,172 29,697,707 Financial result net ​ ​ ​ ​ ​ ​ ​ Financial income 517,629 24,313 76,453 ​ 89,267 (304,070) 403,592 Financial expenses (2,410,906) (1,151,255) (250,816) ​ (886,420) 267,749 (4,431,648) Foreign exchange gain (loss) net (219,747) (132,734) 381,964 ​ 300,519 — 330,002 ​ (2,113,024) (1,259,676) 207,601 ​ (496,634) (36,321) (3,698,054) Share of profits of associates and joint ventures 9,610 200,998 858 ​ 214,698 — 426,164 Income before tax 16,760,030 (641,228) 8,671,063 ​ 1,639,101 (3,149) 26,425,817 Income tax (5,019,540) (383,562) (2,925,390) ​ (466,771) — (8,795,263) Net profit (loss) for the period 11,740,490 (1,024,790) 5,745,673 ​ 1,172,330 (3,149) 17,630,554 Profit (loss) attributable to: ​ ​ ​ ​ ​ ​ ​ Group owners of parent 11,829,119 (1,198,619) 4,635,354 ​ 386,438 (3,149) 15,649,143 Non–controlling interest (88,629) 173,829 1,110,319 ​ 785,892 — 1,981,411 ​ 11,740,490 (1,024,790) 5,745,673 ​ 1,172,330 (3,149) 17,630,554 Supplementary information ​ ​ ​ ​ ​ ​ ​ Depreciation depletion and amortization 6,844,910 1,640,940 1,211,642 ​ 462,430 — 10,159,922 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2020 ​ ​ Exploration ​ Refining and ​ Transport and ​ ​ ​ ​ ​ and Production Petrochemicals Logistics ​ Eliminations Total Third–party sales 22,854,925 24,804,887 2,563,581 ​ — 50,223,393 Inter–segment sales 13,985,072 1,299,464 9,630,859 ​ (24,915,395) — Total sales revenue 36,839,997 26,104,351 12,194,440 ​ (24,915,395) 50,223,393 Fixed costs (9,479,317) (3,427,211) (2,813,856) ​ 4,062,843 (11,657,541) Variable costs (23,429,102) (22,398,344) (567,501) ​ 20,485,016 (25,909,931) Cost of sales (32,908,419) (25,825,555) (3,381,357) ​ 24,547,859 (37,567,472) Gross profit 3,931,578 278,796 8,813,083 ​ (367,536) 12,655,921 Administrative expenses (2,163,198) (936,175) (533,594) ​ 259,817 (3,373,150) Operation and project expenses (1,511,510) (781,309) (403,657) ​ 110,460 (2,586,016) Impairment of non–current assets (192,693) (781,528) 341,065 ​ — (633,156) Other operating income and expenses net 1,085,114 34,705 1,827 ​ (3,480) 1,118,166 Operating income (expenses) 1,149,291 (2,185,511) 8,218,724 ​ (739) 7,181,765 Financial result net ​ ​ ​ ​ ​ ​ Financial income 1,177,712 67,832 125,677 ​ (269,791) 1,101,430 Financial expenses (2,896,060) (914,534) (389,394) ​ 270,197 (3,929,791) Foreign exchange gain (loss) net 360,409 (447,880) 434,245 ​ — 346,774 ​ (1,357,939) (1,294,582) 170,528 ​ 406 (2,481,587) Share of profits of associates and joint ventures (53,037) 131,462 (2,089) ​ — 76,336 Income before tax (261,685) (3,348,631) 8,387,163 ​ (333) 4,776,514 Income tax 43,569 614,269 (2,696,499) ​ — (2,038,661) Net profit (loss) for the period (218,116) (2,734,362) 5,690,664 ​ (333) 2,737,853 Profit (loss) attributable to: ​ ​ ​ ​ ​ ​ Group owners of parent (139,279) (2,848,511) 4,574,800 ​ (333) 1,586,677 Non–controlling interest (78,837) 114,149 1,115,864 ​ — 1,151,176 ​ (218,116) (2,734,362) 5,690,664 ​ (333) 2,737,853 Supplementary information ​ ​ ​ ​ ​ ​ Depreciation depletion and amortization ​ 6,445,812 1,599,780 1,278,946 ​ — 9,324,538 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2019 ​ ​ Exploration and ​ Refining and ​ Transport ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total Third–party sales 31,295,118 36,393,470 3,799,924 ​ — 71,488,512 Inter–segment sales 21,372,872 2,377,336 9,270,812 ​ (33,021,020) — Total sales revenue 52,667,990 38,770,806 13,070,736 ​ (33,021,020) 71,488,512 Fixed costs (9,587,961) (3,523,948) (3,039,452) ​ 3,878,444 (12,272,917) Variable costs (26,785,904) (34,332,271) (698,742) ​ 29,117,474 (32,699,443) Cost of sales (36,373,865) (37,856,219) (3,738,194) ​ 32,995,918 (44,972,360) Gross profit 16,294,125 914,587 9,332,542 ​ (25,102) 26,516,152 Administrative expenses (1,284,560) (496,155) (372,942) ​ 2,058 (2,151,599) Operation and project expenses (1,475,710) (743,378) (434,904) ​ 22,238 (2,631,754) Impairment of non–current assets (1,982,044) 452,163 (232,556) ​ — (1,762,437) Other operating income and expenses net 49,673 ​ 1,014,988 74,607 ​ (82,472) ​ 1,056,796 Operating income (expenses) 11,601,484 1,142,205 8,366,747 ​ (83,278) 21,027,158 Financial result net ​ ​ ​ ​ ​ ​ Financial income 1,440,440 229,297 273,613 ​ (320,014) 1,623,336 Financial expenses (2,311,133) (996,790) (306,878) ​ 280,332 (3,334,469) Foreign exchange gain (loss) net 287,286 (179,936) (66,711) ​ — 40,639 ​ (583,407) (947,429) (99,976) ​ (39,682) (1,670,494) Share of profits of associates and joint ventures 227,401 17,091 138 ​ 122,274 366,904 Income before tax 11,245,478 211,867 8,266,909 ​ (686) 19,723,568 Income tax (1,925,798) (83,504) (2,709,111) ​ — (4,718,413) Net profit (loss) for the period 9,319,680 128,363 5,557,798 ​ (686) 15,005,155 Profit (loss) attributable to: ​ ​ ​ ​ ​ ​ Group owners of parent 9,382,129 117,708 4,244,860 ​ (686) 13,744,011 Non–controlling interest (62,449) 10,655 1,312,938 ​ — 1,261,144 ​ 9,319,680 128,363 5,557,798 ​ (686) 15,005,155 Supplementary information ​ ​ ​ ​ ​ ​ Depreciation depletion and amortization 5,892,822 1,398,948 1,291,013 ​ — 8,582,783 ​ 33.2 The sales by product for each segment are detailed below for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Electric power ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ transmission ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and toll ​ ​ ​ ​ ​ ​ Exploration and ​ Refining and ​ Transport and ​ roads ​ ​ ​ ​ ​ ​ Production Petrochemicals Logistics ​ concessions ​ Eliminations Total Local sales ​ Mid–distillates — 17,166,812 — ​ — (26,485) 17,140,327 Gasolines — 17,931,469 — ​ — (2,456,099) 15,475,370 Natural gas 4,077,691 ​ — — ​ — (877,622) 3,200,069 Services 132,060 659,088 12,158,466 ​ 120,795 (10,004,421) 3,065,988 Plastic and rubber — 1,642,035 — ​ — — 1,642,035 LPG and propane 618,218 332,542 — ​ — (24,529) 926,231 Fuel gas service — 742,212 — ​ — (7,546) 734,666 Electric power transmission services — — — ​ 728,467 — 728,467 Asphalts 25,178 585,873 — ​ — — 611,051 Polyethylene — 320,466 — ​ — — 320,466 Aromatics — 247,387 — ​ — — 247,387 Crude oil 23,619,491 — — ​ — (23,426,015) 193,476 Roads and Construction Services ​ — ​ — ​ — ​ 107,179 ​ — ​ 107,179 Fuel oil ​ 10,838 ​ 12,961 ​ — ​ — ​ — ​ 23,799 Other income gas contracts 2,879 — — ​ — — 2,879 Other products 35,213 2,160,653 — ​ — (1,793,038) 402,828 Cash flow hedges ​ — ​ (8) ​ — ​ — ​ — ​ (8) ​ 28,521,568 41,801,490 12,158,466 ​ 956,441 (38,615,755) 44,822,210 Foreign sales ​ ​ ​ ​ ​ ​ ​ Crude oil 34,868,421 — ​ — ​ — ​ — ​ 34,868,421 Diesel — 3,867,937 ​ — ​ — ​ — ​ 3,867,937 Fuel oil — 2,288,977 ​ — ​ — ​ — ​ 2,288,977 Plastic and rubber — 2,092,379 ​ — ​ — ​ — ​ 2,092,379 Electric power transmission services — — ​ — ​ 1,827,622 ​ — ​ 1,827,622 Roads and Construction Services — — ​ — ​ 1,241,144 ​ — ​ 1,241,144 LPG and propane 116,960 — ​ — ​ — ​ — ​ 116,960 Natural gas 71,529 — ​ — ​ — ​ — ​ 71,529 Other products ​ 20,365 ​ 925,595 ​ — ​ 87,991 ​ (42) ​ 1,033,909 Cash flow hedges (349,891) 7 ​ — ​ — ​ — ​ (349,884) ​ 34,727,384 9,174,895 ​ — ​ 3,156,757 ​ (42) ​ 47,058,994 ​ 63,248,952 50,976,385 ​ 12,158,466 ​ 4,113,198 ​ (38,615,797) ​ 91,881,204 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2020 ​ ​ Exploration and ​ Refining and ​ Transport and ​ ​ ​ ​ ​ Production Petrochemicals Logistics ​ Eliminations Total Local sales ​ Mid-distillates — 8,871,938 — ​ (11,350) 8,860,588 Gasoline and turbo fuels 6,739 7,880,124 — ​ (1,118,817) 6,768,046 Services 116,485 ​ 268,081 12,194,384 ​ (9,719,391) 2,859,559 Natural gas 3,683,018 — — ​ (837,863) 2,845,155 Plastic and rubber — 865,204 — ​ — 865,204 Fuel gas service — 678,396 — ​ (6,826) 671,570 Asphalts 27,043 499,057 — ​ — 526,100 LPG and propane 249,533 133,525 — ​ (7,283) 375,775 Crude oil 13,250,275 — — ​ (13,019,755) 230,520 Aromatics — 155,740 — ​ — 155,740 Polyethylene — 138,035 — ​ — 138,035 Fuel oil 7,758 29,243 — ​ — 37,001 Other income gas contracts 32,190 — — ​ — 32,190 Other products 19,556 417,889 — ​ (115,213) 322,232 ​ 17,392,597 19,937,232 12,194,384 ​ (24,836,498) 24,687,715 Foreign sales ​ ​ ​ ​ ​ ​ Crude oil 20,165,489 29 ​ — ​ (79,345) ​ 20,086,173 Diesel — 3,164,068 ​ — ​ — ​ 3,164,068 Fuel oil — 1,044,811 ​ — ​ — ​ 1,044,811 Plastic and rubber — 1,302,131 ​ — ​ — ​ 1,302,131 LPG and propane 18,943 — ​ — ​ — ​ 18,943 Natural gas 17,231 — ​ — ​ — ​ 17,231 Gasolines and turbo fuels — 179,257 ​ — ​ — ​ 179,257 Other products 26,702 553,206 ​ 56 ​ 447 ​ 580,411 Cash flow hedges (780,965) (76,382) ​ — ​ — ​ (857,347) ​ 19,447,400 6,167,120 ​ 56 ​ (78,898) ​ 25,535,678 ​ 36,839,997 26,104,352 ​ 12,194,440 ​ (24,915,396) ​ 50,223,393 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31 2019 ​ ​ Exploration and ​ Refining and ​ Transport ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total Local sales ​ Mid–distillates — 15,073,134 — ​ (31,251) 15,041,883 Gasoline and turbo fuel — 11,554,947 — ​ (1,896,767) 9,658,180 Services 196,527 ​ 261,390 13,070,676 ​ (9,412,967) 4,115,626 Natural gas 2,909,770 — — ​ (653,647) 2,256,123 Plastic and rubber — 834,133 — ​ — 834,133 Asphalts 24,690 519,510 — ​ — 544,200 LPG and propane 179,541 193,375 — ​ — 372,916 Crude oil 21,085,955 — — ​ (20,729,098) 356,857 Fuel gas service — 72,249 — ​ — 72,249 Aromatics — 228,552 — ​ — 228,552 Polyethylene — 192,436 — ​ — 192,436 Other income gas contracts 102,845 — — ​ — 102,845 Fuel oil 1,464 96,443 — ​ — 97,907 Other products 25,215 703,270 — ​ (297,284) 431,201 ​ 24,526,007 29,729,439 13,070,676 ​ (33,021,014) 34,305,108 Foreign sales ​ ​ ​ ​ ​ ​ Crude oil 28,459,998 61,995 — ​ — 28,521,993 Diesel — 4,391,798 — ​ — 4,391,798 Fuel oil — 1,870,929 — ​ — 1,870,929 Plastic and rubber — 1,249,189 — ​ — 1,249,189 LPG and propane 13,591 — — ​ — 13,591 Natural gas 27,255 — — ​ — 27,255 Gasolines and turbo fuels — 1,085,392 — ​ — 1,085,392 Other products 26,309 382,063 55 ​ — 408,427 Cash flow hedges (385,170) — — ​ — (385,170) ​ 28,141,983 9,041,366 55 ​ — 37,183,404 ​ 52,667,990 38,770,805 13,070,731 ​ (33,021,014) 71,488,512 ​ 33.3 The following are the investments amounts made by each segment for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electric ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ power ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ transmission ​ ​ ​ ​ Exploration ​ Refining and ​ Transport and ​ and toll roads ​ ​ 2021 and Production Petrochemicals Logistics concessions Total Property, plant, and equipment (Note 14) 2,633,119 ​ 1,845,618 ​ 1,344,654 ​ 294,197 ​ 6,117,588 Natural and environmental resources (Note 15) 6,733,028 ​ — ​ — ​ — ​ 6,733,028 Intangibles (Note 17) 106,490 ​ 22,685 ​ 47,236 ​ 267,935 ​ 444,346 ​ 9,472,637 ​ 1,868,303 ​ 1,391,890 ​ 562,132 ​ 13,294,962 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exploration ​ Refining and ​ Transport and ​ ​ 2020 and Production Petrochemicals Logistics Total Property, plant, and equipment (Note 14) 2,866,600 ​ 1,329,181 ​ 836,536 ​ 5,032,317 Natural and environmental resources (Note 15) 5,994,462 ​ — ​ — ​ 5,994,462 Intangibles (Note 17) 41,002 ​ 8,771 ​ 40,309 ​ 90,082 ​ 8,902,064 ​ 1,337,952 ​ 876,845 ​ 11,116,861 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exploration ​ Refining and ​ Transport and ​ ​ 2019 and Production Petrochemicals Logistics Total Property, plant, and equipment 2,151,194 497,512 1,363,953 ​ 4,012,659 Natural and environmental resources 9,798,193 — — ​ 9,798,193 Intangibles 25,775 20,569 121,945 ​ 168,289 ​ 11,975,162 518,081 1,485,898 ​ 13,979,141 ​

Supplemental information on oil

Supplemental information on oil and gas producing activities (unaudited)	12 Months Ended
	Dec. 31, 2021
Supplemental information on oil and gas producing activities (unaudited)
Supplemental information on oil and gas producing activities (unaudited)	34. Supplemental information on oil and gas producing activities (unaudited) The information in this note is referred to as “unaudited” as a means of clarifying that it is not covered by the audit opinion of the independent registered public accounting firm that has audited and reported on the “Consolidated Financial Statements.” In accordance with the requirements of the United States Securities and Exchange Commission (SEC), Rule 4–10(a) of Regulation S–X, Release 33–8879, Accounting Standards Codification 932 and the ASU– 2010–03 “Oil and Gas reserve Estimation and Disclosures” rule, this section provides supplemental information on oil and gas exploration and producing activities of the Ecopetrol Business Group. The information included in sections (1) to (3) provides historical cost information pertaining to costs incurred in exploration, property acquisitions and development, capitalized costs, and results of operations. The information included in sections (4) and (5) presents information on Ecopetrol’s estimated net proved reserve quantities, standardized measure of estimated discounted future net cash flows related to proved reserves and changes in estimated discounted future net cash flows. The following information corresponds to Ecopetrol’s oil and gas producing activities as of December 31, 2021, 2020 and 2019, and includes information related to the Ecopetrol Business Group’s consolidated subsidiaries. Under the SEC final rule optional disclosure of possible and probable reserves is allowed but, the Ecopetrol Business Group opted not to do so. Ecopetrol estimated its reserves without considering non–traditional resources. 34.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Natural and environmental properties 79,385,151 67,767,005 60,261,025 Wells, equipment, and facilities – property, plant and equipment 31,730,001 31,166,804 30,150,268 Exploration and production projects 11,474,682 12,494,665 8,801,630 Accumulated depreciation, depletion, and amortization (70,739,885) (64,233,572) (60,346,094) Net capitalized cost 51,849,949 47,194,902 38,866,829 ​ It includes information of the Exploration and Production segment subsidiaries and joint ventures. In accordance with IAS 37, costs capitalized to natural and environmental properties include provisions for asset retirement obligations of $3,930,370, $3,936,494, and $2,336,236 during 2021, 2020 and 2019, respectively. 34.2 Costs incurred are summarized below and include both amounts expensed and capitalized in the corresponding period. ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Acquisition of proved properties (1) — 507,907 2,668,960 Acquisition of unproved properties (2) — 1,274,660 261,231 Exploration costs 1,793,549 1,340,898 640,556 Development costs 11,264,075 7,367,020 8,084,283 ​ 13,057,624 10,490,485 11,655,030 (1) For 2020, it corresponds mainly to the acquisition of the entire participation in the Guajira Association ( 43% of the association contract) by Hocol and its position as operator. In July 2019, Ecopetrol and Occidental Petroleum Corp. (OXY) entered into a Joint Operation contract in order to execute a joint plan for the development of unconventional drilling in the Permian Basin in the state of Texas (USA). (2) During 2020, Ecopetrol through its subsidiary Ecopetrol Óleo e Gás do Brasil Ltda acquired 30% of the interests, rights and obligations in two areas that correspond to the BM-S-54 Concession Agrement and the Sul de Gato do Mato Shared Production Contract, located offshore in Santos basin of Brazil, in the discovery of hydrocarbons called "Gato do Mato". Additionally, Ecopetrol Óleo e Gás do Brasil Ltda has recognized the billing related to activities of drilling during the year. On July 17, 2020, the Ministry of Mines and Energy of Brazil authorized the transfer of 10% of the Saturn block for USD $85 million, located in the Santos basin, to Ecopetrol Óleo e Gás do Brasil, this percentage of which Shell Brasil Petróleo Ltda and Chevron Brasil Óleo e Gas Ltda. were equal holders. In the new shareholding structure, Ecopetrol retains 10% of the interests of the block, while Shell (operator) and Chevron each retain 45% of the total. 34.3 Results of operations for oil and gas exploration and production activities The Ecopetrol Business Group’s results of operations from oil and gas exploration and production activities for the years ended December 31, 2021, 2020 and 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Net revenues Sales 50,631,272 30,141,662 42,070,018 Transfers 12,617,680 7,025,839 11,564,358 ​ 63,248,952 37,167,501 53,634,376 Production costs(1) 12,554,338 12,753,880 9,336,387 Depreciation, depletion, and amortization(2) 6,623,891 6,393,506 6,049,543 Other production costs(3) 21,156,904 14,005,669 21,550,907 Exploration expenses(4) 960,247 689,204 763,562 Other expenses(5) 3,090,128 2,227,481 4,163,241 ​ 44,385,508 36,069,740 41,863,640 Income before income tax expense 18,863,444 1,097,761 11,770,736 Income tax expense (5,652,743) (233,255) (2,107,363) Results of operations for exploration and production activities 13,210,701 864,506 9,663,373 (1) Production costs are lifting costs incurred to operate and maintain productive wells and related equipment and facilities including costs such as operating labor, materials, supplies, and fuel consumed in operations and the costs of operating natural gas liquids plants. In addition, they include expenses related to the asset retirement obligations that were recognized during 2021, 2020 and 2019 of $292,329 , $213,925 , and $198,394 , respectively. (2) In accordance with IAS 37, the expense related to asset retirement obligations that were recognized during 2021, 2020 and 2019 in depreciation, depletion, and amortization, were $887,725, $639,123, and $272,147 , respectively. (3) Includes transportation costs and naphtha that are not part of the Ecopetrol Business Group’s lifting cost. (4) Exploration expenses include the costs of geological and geophysical activities, as well as the non–productive exploratory wells. (5) Corresponds to administration, marketing expenses and impairment. During 2021, 2020, and 2019, the Ecopetrol Business Group transferred approximately 19.9%, 18.9%, and 21.6%, respectively, of its crude oil and gas production; (percentages based on the value sales in Colombian pesos) to intercompany business units. Those transfers were 52.1%, 45.9% and 51.5%, respectively, of crude oil and gas production volume (including Reficar). The intercompany transfers were realized at market prices. 34.4 The Ecopetrol Business Group follows international standards for estimating, classifying, and reporting reserves framed under SEC definitions. Corporate Reserve Management of Ecopetrol, Upstream Management and the Vice-Presidency of Development and Production, present the reserves balance to the Board of Directors, which approved it in February 2022. The reserves were estimated at a level of 99.4% by specialized firms: DeGolyer and MacNaughton, Ryder Scott Company, Gaffney Cline, and Sproule International Limited. According to these certifications the reserves report complies with the content and guidelines set forth in Rule 4–10 of Regulation S–X issued by the United States SEC. The following information relates to the net proven reserves owned by the Ecopetrol Business Group in 2021, 2020 and 2019, and corresponds to the official reserves statements prepared by the Ecopetrol Business Group: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 ​ ​ Oil ​ Gas ​ Total ​ Oil ​ Gas ​ Total ​ Oil ​ Gas ​ Total ​ (Mbls) (Gpc) (Mbe) (Mbls) (Gpc) (Mbe) (Mbls) (Gpc) (Mbe) Proved reserves: Opening balance 1,257 2,921 1,770 1,384 2,906 1,894 1,200 3,002 1,727 Revisions of previous estimates(1) 240 431 315 (81) 51 (72) 75 51 84 Improved recovery 120 107 139 100 74 113 94 3 94 Purchases — — — — 171 30 142 126 164 Extensions and discoveries 12 — 12 41 8 42 66 2 67 Sales ​ (3) ​ (4) ​ (3) ​ (1) ​ (0) ​ (1) ​ — ​ — ​ — Production (177) (304) (231) (186) (289) (236) (193) (278) (242) Closing balance 1,449 3,151 2,002 1,257 2,921 1,770 1,384 2,906 1,894 Proved developed reserves: ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening balance 834 2,636 1,297 898 2,662 1,365 883 2,882 1,389 Closing balance 921 2,561 1,370 834 2,636 1,297 898 2,662 1,365 Proved undeveloped reserves: ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening balance 423 285 473 486 244 529 317 119 338 Closing balance 528 590 632 423 285 473 486 244 529 Some values were rounded for presentation purposes. (1) Represents changes in previous proved reserves, upward or downward, resulting from new information (except for an increase in a proved area), usually obtained from development drilling and production history or result from changes in economic factors. For additional information about the changes in Proved Reserves and the process for estimating reserves, see section 3.5.3 – Oil and Gas Reserves. 34.5 The standardized measure of discounted future net cash flows related to the above proved crude oil and natural gas reserves is calculated in accordance with the requirements of ASU 2010–03. Estimated future cash inflows from production under SEC requirements are computed by applying unweighted arithmetic average of the first day–of–the–month for oil and gas price to year–end quantities of estimated net proved reserves, with cost factors based on those at the end of each year, currently enacted tax rates and a 10% annual discount factor. In our view, the information so calculated does not provide a reliable measure of future cash flows from proved reserves, nor does it permit a realistic comparison to be made of one entity with another because the assumptions used cannot reflect the varying circumstances within each entity. In addition, a substantial but unknown proportion of future real cash flows from oil and gas production activities is expected to derive from reserves which have already been discovered, but which cannot yet be regarded as proved. ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Future cash inflows 401,980,640 187,210,379 279,722,107 Future costs ​ ​ ​ Production (1) (129,109,036) (85,989,384) (93,589,960) Development (38,451,863) (28,752,131) (32,734,702) Income taxes (69,053,224) (13,470,352) (37,077,231) Future net cash flow 165,366,517 58,998,512 116,320,214 10% discount factor (57,009,654) (18,568,308) (36,934,889) Standardized measure of discounted net cash flows 108,356,863 40,430,204 79,385,325 (1) Production future costs include the estimated costs related to assets retirement obligations in the amount of $17,364,520; $12,545,574 and $10,665,315 as of December 31, 2021, 2020, and 2019, respectively. ​ The following are the principal sources of change in the standardized measure of discounted net cash flows in 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Net change in sales and transfer prices and in production cost (lifting) related to future production 110,224,660 (44,482,725) 2,411,040 Changes in estimated future development costs (22,011,659) (5,401,560) (12,627,361) Sales and transfer of oil and gas produced net of production costs (50,694,613) (24,413,621) (44,297,989) Net change due to extensions, discoveries, and improved recovery 6,741,068 3,134,469 7,061,712 Net change due to purchase and sales of minerals in place (13,419) 570,460 213,539 Net change due to revisions in quantity estimates 32,923,680 (3,414,649) 6,756,418 Previously estimated development costs incurred during the period 32,941,335 7,943,239 23,200,357 Accretion of discount 10,468,951 10,468,951 11,542,289 Timing and other (16,636,925) 567,027 (4,993,389) Net change in income taxes (36,016,420) 16,073,288 3,814,269 Aggregate change in the standardized measure of discounted future net cash flows for the year 67,926,658 (38,955,121) (6,919,115) ​

Subsequent and relevant events

Subsequent and relevant events	12 Months Ended
	Dec. 31, 2021
Subsequent and relevant events
Subsequent and relevant events	35. Subsequent and relevant events - Distribution Project 2021 Fiscal Year Profits Ecopetrol reports on the 2021 profit distribution project, which its Board of Directors approved to be submitted for consideration by the General Assembly of Shareholders at the ordinary session on March 30, 2022. The profit distribution project proposed, in accordance with the current dividend policy, to distribute an ordinary dividend of $243 COP per share, equivalent to a payout of 59.8% of the net profit of Ecopetrol. Additionally, the Company's Board of Directors, considering the solid financial performance of all its segments, the price expectations for the year 2022 and its solidity, proposes an extraordinary dividend, of an exceptional nature, of 9.1% equivalent to $37 COP per share for a total dividend of $280 COP per share. The payment of the total dividend is aligned with the goals of the 2022-2024 Business Plan announced on February 8, 2022. Likewise, the Board proposed the constitution of an occasional reserve for $8,889,900 destined to provide support to the financial sustainability of the Company and flexibility in the development of its strategy. The General Assembly approved the distribution project. - Project Rydberg – Ecopetrol America On March 29, 2022, Ecopetrol America made the decision to withdraw from the Rydberg project, an asset that is in the development phase with production expected at the end of 2023 (it is not an exploratory asset). The approximate net book value is US$74.2 million. The main impacts of this decision consist of a reduction in the company's reserves, lower production in the development portfolio and a decrease in non-current assets. - Issuance of Notes – Consorcio Transmantaro S.A. On April 4, 2022, Consorcio Transmantaro S.A. (CTM), one of ISA’s electric power transmission subsidiaries in Peru, issued 5.20% Amortizing Notes due 2038 (14.5 years weighted average life) in an aggregate amount of US$ 500 million in a Rule 144A/Regulation S notes offering. The notes were listed on the Official List of the Luxemburg Stock Exchange. This follows CTM’s announcement on March 22, 2022, of an Any-and All Tender Offer with allocation codes and consent solicitation to holders of CTM’s 4,375% ​ - New participation of Ecopetrol Brasil in six offshore fields Ecopetrol, through its subsidiary Ecopetrol Óleo e Gás do Brasil, jointly participated with the company Shell Brasil Petróleo Ltda. to present the best offer in six exploratory blocks located in the Santos Basin in the Third Permanent Offer Cycle of the Agência Nacional do Petroleum, Gás Natural e Biocombustíveis (ANP). Ecopetrol will have a participation of 30% in the aforementioned blocks, and Shell, as the operator, will have a 70% participation. With this new acquisition, Ecopetrol was able to increase its presence to 12 blocks in Brazil; including exploratory acreage within the Santos and Ceará basins, and the Gato do Mato development project. - Borrowing from BNDES – National Bank for Economic and Social Development In February 2022, CTEEP - Companhia de Transmissão de Energia Elétrica Paulista S.A., contracted with BNDES a credit of BRL $567,400 thousand, intended for the implementation of the Investment Plan for the modernization of the energy transmission system and improvements related to the Public Service Concession Agreement for Transmission of Electricity No. 059/2001-ANEEL. The credit will be released in portions by BNDES to CTEEP, with amortization in 234 monthly and successive payments, with the first payment due on July 15, 2022. It should be noted that the first disbursement took place on March 21, 2022. Additionally, the loan agreement has the usual early maturity clauses (“covenants”), in line with the other agreements that CTEEP already has with BNDES. - Issuance of debentures On April 5, 2022, CTEEP's Board of Directors approved the 12th issue of unsecured, non-convertible simple debentures, in up to 2 (two) series. 700,000 debentures were issued, totaling an amount of BRL $700,000 thousand, with (i) the maturity term of the debentures of the 1st series of the issue being 7 years from the date of issue, corresponding to April 15, 2029, and (ii) the maturity term of the debentures of the 2nd series of the Issue of 10 years from the issue date, corresponding to April 15, 2032. ​

Exhibit 1 - Consolidated subsid

Exhibit 1 - Consolidated subsidiaries, associates, and joint ventures	12 Months Ended
	Dec. 31, 2021
Exhibit 1 - Consolidated subsidiaries, associates, and joint ventures - Consolidated subsidiary companies
Exhibit 1 - Consolidated subsidiaries, associates, and joint ventures	​ Exhibit 1 – Consolidated subsidiaries, associates, and joint ventures ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) of ​ Total ​ Total Company currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Equity ​ the year ​ assets ​ liabilities Subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Refinería de Cartagena S.A.S. US Dollar 100 % Refining of hydrocarbons, commercialization and distribution of products Colombia Colombia 17,933,857 (1,238,939) 33,094,487 15,160,630 Cenit transporte y logística de hidrocarburos S.A.S. ​ Colombian Peso ​ 100 % Storage and transport by pipelines of hydrocarbons ​ Colombia ​ Colombia ​ 16,408,773 ​ 4,784,348 ​ 18,586,004 ​ 2,177,231 ​ Ecopetrol Global Energy S.L.U. ​ US Dollar ​ 100 % Investment Vehicle ​ Spain ​ Spain ​ 12,083,224 ​ 240,792 ​ 12,083,538 ​ 314 ​ Oleoducto Central S.A.S - Ocensa ​ US Dollar ​ 72,65 % Transportation by crude oil pipelines ​ Colombia ​ Colombia ​ 3,177,600 ​ 2,353,602 ​ 7,071,850 ​ 3,894,250 ​ Hocol Petroleum Limited. US Dollar 100 % Investment Vehicle Bermuda Bermuda 3,761,673 453,876 3,791,829 30,156 Ecopetrol América LLC. US Dollar 100 % Exploration and exploitation of hydrocarbons United States United States 2,962,647 258,622 3,461,610 498,963 Hocol S.A. US Dollar 100 % Exploration and exploitation of hydrocarbons Cayman Islands Colombia 3,258,783 483,792 4,931,264 1,672,481 Esenttia S.A. US Dollar 100 % Production and commercialization of polypropylene resin Colombia Colombia 2,322,456 287,425 3,296,001 973,545 Ecopetrol Capital AG US Dollar 100 % Collection of surpluses from, and providing funds to, companies of Ecopetrol Business Group Switzerland Switzerland 2,404,032 218,723 9,007,535 6,603,503 Oleoducto Bicentenario de Colombia S.A.S. Colombian Peso 100 % Transportation by crude oil pipelines Colombia Colombia 1,426,391 731,832 2,759,984 1,333,593 Oleoducto de Colombia S. A. – ODC Colombian Peso 73 % Transportation by crude oil pipelines Colombia Colombia 432,870 375,475 669,876 237,006 Black Gold Re Ltd. US Dollar 100 % Reinsurer for companies of Ecopetrol Business Group Bermuda Bermuda 987,442 15,284 1,267,465 280,023 Andean Chemicals Ltd. US Dollar 100 % Investment Vehicle Bermuda Bermuda 1,605,929 152,357 1,606,253 324 Oleoducto de los Llanos Orientales S. A. - ODL Colombian Peso 65 % Transportation by crude oil pipelines Panama Colombia 991,866 406,590 1,434,010 442,144 Interconexión Eléctrica S.A. E.S.P (1) Colombian Peso 51,41 % Public transmission service of electric power, the development of infrastructure projects and their commercial exploitation and the development of information technology systems, activities and services and telecommunications. Colombia Latin-America 22,132,996 509,125 61,698,188 39,565,192 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) of ​ Total ​ Total Company ​ currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Equity ​ the year ​ assets ​ liabilities Inversiones de Gases de Colombia S.A. Invercolsa S.A. ​ Colombian Peso ​ 51.88 % Holding with investments in natural gas and LPG transportation and distribution companies in Colombia ​ Colombia ​ Colombia ​ 656,135 ​ 276,422 ​ 659,053 ​ 2,918 Alcanos de Colombia S.A. E.S.P. (2) Colombian Peso 29.61 % Residential public fuel gas service, construction and operation of gas pipelines, distribution networks, regulation, measurement, and compression stations. Colombia Colombia 370,507 107,960 773,501 402,994 Metrogas de Colombia S.A E.S.P. (2) Colombian Peso 33.49 % 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 65,787 17,620 121,984 56,197 Gases del Oriente S.A. E.S.P. (2) Colombian Peso 48.50 % Home public service of distribution of fuel gas and the development of all complementary activities to the supplying of said service. Colombia Colombia 122,172 57,780 194,729 72,557 Promotora de Gases del Sur S.A. E.S.P. (2) ​ Colombian Peso ​ 31.44 % Promote the linking of national or foreign capital, public or private, to achieve the gas massification project. ​ Colombia ​ Colombia ​ 58,638 ​ 22,846 ​ 82,268 ​ 23,630 Combustibles Líquidos de Colombia S.A E.S.P. (2) ​ Colombian Peso ​ 41.61 % Wholesale marketing of fuel gas, the supplying of the residential public service of LPG distribution and the development of complementary activities to supply the service. ​ Colombia ​ Colombia ​ 58,964 ​ 3,876 ​ 75,171 ​ 16,207 Gasoducto de Oriente S.A (2) ​ Colombian Peso ​ 31.61 % Design and construction of hydrocarbon production and treatment plants, construction of hydrocarbon transmission lines. ​ Colombia ​ Colombia ​ 556 ​ (29) ​ 584 ​ 28 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) of ​ Total ​ Total Company ​ currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Equity ​ the year ​ assets ​ liabilities Ecopetrol USA Inc. US Dollar 100% ​ Exploration and exploitation of hydrocarbons United States United States 10,195,017 581,820 10,202,943 7,926 Ecopetrol Permian LLC. US Dollar 100% ​ Exploration and exploitation of hydrocarbons United States United States 5,355,562 373,104 5,932,250 576,688 Ecopetrol Oleo é Gas do Brazil Ltda. Real 100% ​ Exploration and exploitation of hydrocarbons Brazil Brazil 1,774,650 (212,853) 1,861,482 86,832 Esenttia Masterbatch Ltda. ​ Colombian Peso ​ 100% ​ Manufacture of polypropylene compounds and masterbatches ​ Colombia ​ Colombia ​ 430,162 ​ 274,562 ​ 564,140 ​ 133,978 Ecopetrol del Perú S. A. ​ US Dollar ​ 100% ​ Exploration and exploitation of hydrocarbons ​ Peru ​ Peru ​ 61,103 ​ (341) ​ 63,492 ​ 2,389 ECP Hidrocarburos de México S.A. de C.V. ​ US Dollar ​ 100% ​ Offshore exploration ​ Mexico ​ Mexico ​ 52,454 ​ (126,458) ​ 57,096 ​ 4,642 Ecopetrol Costa Afuera S.A.S. ​ Colombian Peso ​ 100% ​ Offshore exploration ​ Colombia ​ Colombia ​ 13,447 ​ 90 ​ 16,952 ​ 3,505 Esenttia Resinas del Peru SAC US Dollar 100% ​ Commercialization polypropylene resins and masterbatches Peru Peru 12,240 4,555 67,144 54,904 Topili Servicios Administrativos S de RL De CV. Mexican Peso 100% ​ Specialized management services Mexico Mexico 46 (31) 48 2 Kalixpan Servicios Técnicos S de RL De CV. Mexican Peso 100% ​ Specialized services related to oil and gas industry Mexico Mexico 53 (28) 55 2 Ecopetrol Singapore PTE. LTD Singapore dollar 100% ​ Holding company with investment in an international trading company for crude oil and refined products Singapore Asia 258 (48) 261 3 Ecopetrol Trading Asia PTE. LTD Singapore dollar 100% ​ International trading of crude oil and refined products Singapore Asia 251 (46) 31,051 30,800 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ Geographic ​ ​ ​ ​ Company ​ Functional ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ Profit (loss) of ​ ​ ​ Total Associates ​ currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Equity ​ the year ​ Total assets ​ liabilities Serviport S.A. (3) Colombian Peso 49 % Services for the support of loading and unloading of oil ships, supply of equipment, technical inspections, and load measurements Colombia Colombia 19,181 2,079 43,731 24,550 Sociedad Portuaria Olefinas y Derivados S.A. (4) Colombian Peso 50 % Construction, use, maintenance and administration of port facilities, ports, private docks. Colombia Colombia 4,372 (734) 6,996 2,624 Joint Ventures Equion Energía Limited US Dollar 51 % Exploration and exploitation of hydrocarbons United Kingdom Colombia 2,960,397 52,934 3,057,870 97,473 Ecodiesel Colombia S.A. (4) Colombian Peso 50 % Production, trading and distribution of biofuels and oleochemicals Colombia Colombia 128,037 51,656 232,253 104,216 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ Geographic ​ ​ ​ ​ ​ Profit ​ ​ ​ ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ ​ ​ ​ ​ (loss) of Company Functional currency Ecopetrol ​ Activity Domicile operations Assets ​ Liabilities ​ Equity the year Subsidiaries, associates, and joint ventures Interconexión Eléctrica S.A. ESP ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consorcio Transmantaro US Dollar 60 % Electric power ​ Peru Peru 7,250,457 ​ 5,578,049 ​ 1,672,408 234,866 Interligação Eléctrica Evrecy Brazilian real 35.82 % Electric power ​ Brazil Brazil 79,166 ​ 9,677 ​ 69,489 (8,716) Fundo de Investimento Assis Brazilian real 35.73 % Autonomous Fund – Special Purpose Entity ​ Brazil Brazil 27,170 ​ 2 ​ 27,168 3,669 Fundo de Investimento Barra Bonita Renda Fixa Referenciado Brazilian real 35.77 % Autonomous Fund – Special Purpose Entity ​ Brazil Brazil 78,920 ​ 4 ​ 78,916 1,637 Fundo de Investimento Referenciado di Bandeirantes Brazilian real 13.10 % Autonomous Fund – Special Purpose Entity ​ Brazil Brazil 158,035 ​ 13 ​ 158,022 8,553 Fundo de Investimento Xavantes Referenciado di Brazilian real 15.69 % Autonomous Fund – Special Purpose Entity ​ Brazil Brazil 321,759 ​ 23 ​ 321,736 16,238 Interconexiones Viales Chilean peso 65 % Roads concessions ​ Chile Chile 6,752 ​ 1,078 ​ 5,674 (3,396) Interligação Elétrica Aguapeí Brazilian real 35.82 % Electric power ​ Brazil Brazil 482,218 ​ 80,582 ​ 401,636 77,267 Interligação Elétrica Biguaçu Brazilian real 35.82 % Electric power ​ Brazil Brazil 250,337 ​ 19,312 ​ 231,025 (2,723) Interligação Elétrica De Minas Gerais Brazilian real 35.82 % Electric power ​ Brazil Brazil 113,493 ​ 7,885 ​ 105,608 6,597 Interligação Elétrica Itapura Brazilian real 35.82 % Electric power ​ Brazil Brazil 147,721 ​ 16,394 ​ 131,327 7,094 Interligação Elétrica Itaquerê Brazilian real 35.82 % Electric power ​ Brazil Brazil 449,766 ​ 94,399 ​ 355,367 68,803 Interligação Elétrica Itaúnes Brazilian real 35.82 % Electric power ​ Brazil Brazil 301,579 ​ 23,100 ​ 278,479 32,447 Interligação Elétrica Norte E Nordeste Brazilian real 35.82 % Electric power ​ Brazil Brazil 389,507 ​ 128,724 ​ 260,783 40,840 Interligação Elétrica Pinheiros Brazilian real 35.82 % Electric power ​ Brazil Brazil 526,781 ​ 73,331 ​ 453,450 89,593 Interligação Elétrica Riacho Grande Brazilian real 35.82 % Electric power ​ Brazil Brazil 41,740 ​ (8,811) ​ 50,551 (3,907) Interligação Elétrica Serra Do Japi Brazilian real 35.82 % Electric power ​ Brazil Brazil 450,593 ​ 65,384 ​ 385,209 62,424 Interligação Elétrica Sul Brazilian real 35.82 % Electric power ​ Brazil Brazil 175,464 ​ 27,833 ​ 147,631 22,352 Interligação Elétrica Tibagi Brazilian real 35.82 % Electric power ​ Brazil Brazil 175,038 ​ 26,632 ​ 148,406 10,973 Internexa Colombian peso 99.42 % Telecommunications and ICT ​ Colombia Colombia 531,292 ​ 423,449 ​ 107,843 21,881 Transamerican Telecomunication S.A. US Dollar 99.42 % Telecommunications and ICT ​ Argentina Argentina 40,568 ​ 19,989 ​ 20,579 (58) Internexa Brazil Operadora de Telecomunicações Brazilian real 99.42 % Telecommunications and ICT ​ Brazil Brazil 249,586 ​ 229,088 ​ 20,498 (10,614) Internexa Chile Chilean peso 98.43 % Telecommunications and ICT ​ Chile Chile 78,415 ​ 56,492 ​ 21,923 4,033 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ Geographic ​ ​ ​ ​ ​ Profit ​ ​ ​ ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ ​ ​ ​ ​ (loss) of Company Functional currency Ecopetrol Activity Domicile operations ​ Assets ​ Liabilities Equity the year Subsidiaries, associates, and joint ventures Interconexión Eléctrica S.A. ESP ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internexa Participações Brazilian real 99.42 % Investment Vehicle ​ Brazil Brazil ​ 19,942 ​ 603 19,339 (10,487) Internexa Peru US Dollar 99.42 % Telecommunications and ICT ​ Peru Peru ​ 320,245 ​ 249,061 71,184 17,440 ISA Bolivia US Dollar 100 % Electric power ​ Bolivia Bolivia ​ 124,619 ​ 8,634 115,985 11,019 ISA Capital Do Brazil Brazilian real 100 % Investment Vehicle ​ Brazil Brazil ​ 3,923,685 ​ 222,115 3,701,570 734,604 ISA CTEEP Brazilian real 35.82 % Electric power ​ Brazil Brazil ​ 19,986,151 ​ 9,713,678 10,272,473 2,096,201 ISA Interchile US Dollar 100 % Electric power ​ Chile Chile ​ 6,769,025 ​ 5,514,461 1,254,564 (297,034) ISA Intercolombia Colombian peso 100 % Electric power ​ Colombia Colombia ​ 279,988 ​ 186,954 93,034 38,093 ISA Intervial Chile Chilean peso 100 % Roads concessions ​ Chile Chile ​ 3,971,874 ​ 822,694 3,149,180 252,450 ISA Intervial Colombia Colombian peso 100 % Roads concessions ​ Colombia Colombia ​ 566 ​ — 566 (7) ISA Inversiones Chile Chilean peso 100 % Investment Vehicle ​ Chile Chile ​ 3,748,138 ​ 6,872 3,741,266 202,436 ISA Inversiones Costera Chile Chilean peso 100 % Investment Vehicle ​ Chile Chile ​ 599,723 ​ 595,633 4,090 (31,127) ISA Inversiones Tolten Chilean peso 100 % Investment Vehicle ​ Chile Chile ​ 43 ​ — 43 10 ISA Investimentos E Participações Brazilian real 100 % Investment Vehicle ​ Brazil Brazil ​ 933,742 ​ 7,980 925,762 216,596 ISA Peru US Dollar 99.98 % Electric power ​ Peru Peru ​ 962,823 ​ 772,002 190,821 48,791 ISA REP US Dollar 60 % Electric power ​ Peru Peru ​ 1,949,243 ​ 1,438,949 510,294 202,971 ISA Transelca Colombian peso 100 % Electric power ​ Colombia Colombia ​ 1,507,616 ​ 580,035 927,581 184,024 Linear Systems RE US dollar 100 % Other business ​ Bermudas Bermudas ​ 130,264 ​ 104,551 25,713 3,710 Proyectos de Infraestructura del Perú US Dollar 100 % Electric power ​ Peru Peru ​ 153,956 ​ 146,612 7,344 704 Ruta Costera Colombian peso 100 % Roads concessions ​ Colombia Colombia ​ 2,680,312 ​ 2,491,025 189,287 (17,385) Ruta de La Araucanía Chilean peso 100 % Roads concessions ​ Chile Chile ​ 762,038 ​ 450,237 311,801 33,805 Ruta de Los Ríos Chilean peso 75 % Roads concessions ​ Chile Chile ​ 226,203 ​ 149,717 76,486 20,336 Ruta del Bosque Chilean peso 100 % Roads concessions ​ Chile Chile ​ 376,464 ​ 264,533 111,931 43,786 Ruta del Loa Chilean peso 100 % Roads concessions ​ Chile Chile ​ 470,016 ​ 246,754 223,262 25,607 Ruta del Maipo Chilean peso 100 % Roads concessions ​ Chile Chile ​ 6,695,805 ​ 4,647,650 2,048,155 214,324 Ruta del Maule Chilean peso 100 % Roads concessions ​ Chile Chile ​ 26,822 ​ 17,337 9,485 (21,212) Sistemas Inteligentes en Red Colombia peso 99.77 % Other business ​ Colombia Colombia ​ 17,265 ​ 7,932 9,333 3,457 XM Colombian peso 99.73 % Electric power ​ Colombia Colombia ​ 245,199 ​ 212,583 32,616 11,290 (1) Corresponds to consolidated financial statements, profit is from four months of operation (September to December), assets and liabilities are presented accumulated. See note 12. (2) Indirect participation through Inversiones de Gases de Colombia S.A. Invercolsa S.A. (3) Information available as of September 30, 2021, the investment of is fully impaired. (4) Information available as of November 30, 2021.

Exhibit 2 - Conditions of the m

Exhibit 2 - Conditions of the most significant debt	12 Months Ended
	Dec. 31, 2021
Exhibit 3 - Conditions of the most significant debt
Exhibit 3 - Conditions of the most significant debt	Exhibit 2 – Conditions of the most significant debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ balance ​ balance ​ Interest ​ Amortization ​ Payment of Type of debt ​ Company ​ Issue date ​ Maturity date ​ Currency ​ Disbursement ​ Dec 31, 2021 ​ Dec 31, 2020 ​ rate ​ plan ​ interest ​ Dec-10 Dec-40 COP 284,300 284,300 284,300 Floating Bullet Half-yearly ​ Aug-13 Aug-23 COP 168,600 168,600 168,600 Floating Bullet Half-yearly ​ Ecopetrol S.A. Aug-13 Aug-28 COP 347,500 347,500 347,500 Floating Bullet Half-yearly ​ Aug-13 Aug-43 COP 262,950 262,950 262,950 Floating Bullet Half-yearly ​ Dec-11 Dec-23 COP 180,000 180,000 — Floating Bullet Half-yearly ​ ​ Dec-11 Dec-41 COP 120,000 120,000 — Floating Bullet Half-yearly ​ ​ May-13 May-22 COP 120,000 120,000 — Floating Bullet Quarterly ​ ​ ​ ​ May-13 ​ May-28 ​ COP ​ 100,000 ​ 100,000 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ May-15 May-25 COP 100,000 100,000 — Floating Bullet Quarterly Bonds, ​ ​ May-15 May-30 COP 120,000 120,000 — Floating Bullet Quarterly domestic ​ ​ May-15 May-35 COP 280,000 280,000 — Floating Bullet Quarterly currency ​ Feb-16 Feb-24 COP 115,000 115,000 — Floating Bullet Quarterly ​ ​ Feb-16 Feb-28 COP 152,000 152,000 — Floating Bullet Quarterly ​ ​ Interconexión Feb-16 Feb-41 COP 133,000 133,000 — Floating Bullet Quarterly ​ ​ Eléctrica S.A. ​ Apr-17 ​ Apr-24 ​ COP ​ 260,780 ​ 260,780 ​ — ​ Fixed ​ Bullet ​ Quarterly ​ ​ E.S.P and Apr-17 Apr-32 COP 196,300 196,300 — Floating Bullet Quarterly ​ ​ subsidiaries ​ Apr-17 ​ Apr-42 ​ COP ​ 242,920 ​ 242,920 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ Nov-17 Nov-25 COP 150,080 150,080 — Fixed Bullet Quarterly ​ ​ ​ ​ Nov-17 ​ Nov-31 ​ COP ​ 120,100 ​ 120,100 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ ​ ​ Nov-17 ​ Nov-47 ​ COP ​ 229,820 ​ 229,820 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ Jul-18 Jul-27 COP 156,500 156,500 — Floating Bullet Quarterly ​ ​ Jul-18 Jul-33 COP 142,063 142,063 — Floating Bullet Quarterly ​ ​ Jul-18 Jul-43 COP 201,437 201,437 — Floating Bullet Quarterly ​ Aug-20 Aug-29 COP 160,000 160,000 — Fixed Bullet Quarterly ​ ​ ​ Aug-20 Aug-40 UVR (1) 147,132 147,132 — Fixed Bullet Annual ​ ​ ​ ​ Jul-16 ​ Jan-34 ​ UVR (1) ​ 341,416 ​ 341,416 ​ — ​ Fixed ​ Half-yearly ​ Half-yearly ​ ​ ​ ​ Oct-11 ​ Oct-26 ​ COP ​ 100,000 ​ 100,000 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Outstanding ​ ​ ​ ​ ​ ​ Type of ​ Issue Maturity ​ ​ balance balance Interest Amortization Payment of debt ​ Company ​ date ​ date ​ Currency ​ Disbursement ​ Dec 31, 2021 ​ Dec 31, 2020 ​ rate ​ plan ​ interest ​ ​ Sep-13 Sep-23 USD 1,300 1,300 1,300 Fixed Bullet Half-yearly ​ ​ ​ Sep-13 Sep-43 ​ ​ 850 850 850 ​ ​ ​ May-14 May-45 ​ ​ 2,000 2,000 2,000 ​ ​ ​ Sep-14 Jan-25 ​ ​ 1,200 1,200 1,200 ​ ​ Ecopetrol S.A. Jun-15 Jun-26 ​ ​ 1,500 1,500 1,500 ​ ​ ​ Nov-21 Nov-31 ​ ​ 1,250 1,250 — ​ ​ ​ Nov-21 Nov-51 ​ ​ 750 750 — ​ ​ ​ Jun-16 Sep-23 ​ ​ 500 500 500 ​ ​ ​ Apr-20 Apr-30 ​ ​ 2,000 2,000 2,000 ​ Oleoducto Central S.A.S. May-14 May-21 USD 500 500 500 Fixed Bullet Half-yearly ​ ​ Nov-21 Nov-33 ​ 330 330 — Fixed Half-yearly Half-yearly ​ ​ ​ Jul-16 Jan-34 ​ ​ 151 151 — Fixed Half-yearly Half-yearly ​ ​ ​ Jan-11 Jan-26 ​ ​ 38 38 — Fixed Bullet Quarterly Bonds, ​ ​ Oct-12 Apr-31 ​ ​ 40 40 — Fixed Bullet Half-yearly foreign ​ ​ Nov-12 Nov-22 ​ ​ 26 26 — Fixed Bullet Half-yearly currency ​ ​ Feb13 Feb23 ​ ​ 19 19 — Fixed Bullet Half-yearly ​ ​ ​ May-13 May-23 ​ ​ 450 450 — Fixed Bullet Half-yearly ​ ​ ​ Apr-19 Apr-34 ​ ​ 600 600 — Fixed Half-yearly Half-yearly ​ ​ ​ Mar-17 Feb24 ​ ​ 54 54 — Floating Bullet Annual ​ ​ Interconexión May-18 Apr-25 ​ ​ 111 111 — Floating Bullet Half-yearly ​ ​ Eléctrica S.A. Dec-19 Dec-29 ​ ​ 73 73 — Floating Half-yearly Half-yearly ​ ​ E.S.P and Dec-20 Nov-28 ​ USD 143 143 — Floating Half-yearly Half-yearly ​ ​ subsidiaries Dec-20 May-44 ​ ​ 143 143 — Floating Half-yearly Half-yearly ​ ​ ​ Feb21 Jul-44 ​ ​ 121 121 — Floating Half-yearly Half-yearly ​ ​ ​ May-21 May-24 ​ ​ 215 215 — Floating Bullet Bullet ​ ​ ​ Oct-21 Oct-31 ​ ​ 120 120 — Floating Bullet Half-yearly ​ ​ ​ Oct-21 Oct-39 ​ ​ 50 50 — Floating Half-yearly Half-yearly ​ ​ ​ Aug-01 Jun-22 ​ ​ 421 421 — Fixed Half-yearly Half-yearly ​ ​ ​ Aug-18 Jun-25 ​ ​ 213 213 — Fixed Half-yearly Half-yearly ​ ​ ​ Aug-18 Dec-30 ​ ​ 220 220 — Fixed Half-yearly Half-yearly ​ ​ ​ Aug-18 Dec-24 ​ ​ 37 37 — Fixed Half-yearly Half-yearly ​ ​ ​ Jun-19 Dec-30 ​ ​ 183 183 — Fixed Half-yearly Half-yearly ​ ​ ​ Nov-06 Jun-22 ​ ​ 55 55 — Fixed Half-yearly Half-yearly ​ ​ ​ Feb21 Jun-50 ​ ​ 32 32 — Fixed Half-yearly Half-yearly ​ ​ ​ Jul-21 Jun-56 ​ ​ 1,200 1,200 — Fixed Bullet Half-yearly ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Outstanding ​ ​ ​ ​ ​ ​ ​ ​ Issue Maturity ​ ​ balance balance Interest Amortization Payment of Type of debt ​ Company ​ date ​ date ​ Currency ​ Disbursement ​ Dec 31, 2021 ​ Dec 31, 2020 ​ rate ​ plan ​ interest ​ ​ ​ ​ Sep-19 ​ Sep-25 ​ ​ ​ 70 ​ 70 ​ — ​ Fixed ​ Half-yearly ​ Half-yearly ​ ​ ​ ​ Jun-21 ​ Jun-22 ​ ​ ​ 40 ​ 40 ​ — ​ Fixed ​ Bullet ​ Bullet ​ ​ Jun-21 Jun-22 ​ 10 10 — Fixed ​ Bullet ​ Bullet ​ ​ Jun-21 Jun-22 ​ 40 40 — Fixed ​ Bullet ​ Bullet ​ ​ Jun-21 Jun-22 ​ 10 10 — Fixed ​ Bullet ​ Bullet ​ ​ Aug-20 Aug-22 ​ 83 82 — Floating ​ Bullet ​ Bullet ​ ​ Nov-21 Feb22 ​ 62 62 — Fixed ​ Bullet ​ Bullet ​ ​ Feb16 Jul-24 ​ 5 3 — Floating ​ Quarterly ​ Quarterly ​ ​ Jan-14 Mar-29 ​ 51 25 — Floating ​ Monthly ​ Monthly ​ ​ Jan-14 Jan-24 ​ 19 4 — Fixed ​ Monthly ​ Monthly ​ ​ Aug-17 Mar-32 ​ 49 36 — Floating ​ Monthly ​ Monthly ​ ​ Apr-20 Apr-22 ​ 116 116 — Floating ​ Bullet ​ Quarterly ​ ​ Jan-11 May-26 ​ 8 3 — Floating ​ Monthly ​ Monthly ​ ​ Nov-11 May-26 ​ 9 3 — Floating ​ Monthly ​ Monthly ​ ​ Nov-11 May-26 ​ 8 3 — Floating ​ Monthly ​ Monthly ​ ​ May-10 May-30 ​ 39 24 — Fixed ​ Monthly ​ Monthly International Interconexión Nov-17 Dec-22 ​ 5 2 — Floating ​ Monthly ​ Monthly commercial Eléctrica S.A. Mar-20 Aug-24 USD 6 6 — Floating ​ Quarterly ​ Quarterly loans E.S.P and Apr-20 Dec-22 ​ 5 5 — Floating ​ Bullet ​ Monthly ​ subsidiaries Mar-17 Mar-24 ​ 106 17 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-12 Sep-23 ​ 57 9 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Oct-18 Mar-25 ​ 8 8 — Floating ​ Monthly ​ Monthly ​ ​ Mar-17 Mar-24 ​ 57 7 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-12 Sep-23 ​ 32 4 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Mar-17 Mar-24 ​ 44 10 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-12 Sep-23 ​ 23 5 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ May-21 Mar-24 ​ 11 11 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ May-21 Mar-24 ​ 6 6 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-16 Aug-22 ​ 66 10 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-16 Aug-22 ​ 12 4 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Jan-19 Dec-22 ​ 6 4 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-18 Jun-50 ​ 12 16 — Fixed ​ Monthly ​ Monthly ​ ​ May-21 May-25 ​ 105 105 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ May-21 May-26 ​ 70 70 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Outstanding ​ ​ ​ ​ ​ ​ ​ ​ Issue Maturity ​ ​ balance balance Interest Amortization Payment of Type of debt Company date date Currency Disbursement 31-Dec-21 31-Dec-20 rate plan interest International ​ ​ ​ Dec-17 ​ Dec-27 ​ USD ​ 2,001 ​ 1,100 ​ 1,305 ​ Fixed ​ Half-yearly ​ Half-yearly commercial ​ ​ ​ Dec-17 ​ Dec-27 ​ ​ ​ 76 ​ 41 ​ 49 ​ Floating ​ ​ ​ ​ loans - Ecopetrol S.A. Dec-17 Dec-27 ​ 73 40 ​ 48 ​ Fixed ​ ​ ​ ​ Refinería de ​ Dec-17 Dec-27 ​ 159 87 ​ 103 ​ Floating ​ ​ ​ ​ Cartagena ​ Dec-17 Dec-25 ​ 359 224 ​ 257 ​ Floating ​ ​ ​ ​ International commercial loan –ISA acquisition Ecopetrol S.A. Aug-21 Aug-23 USD 3,672 1,672 — Floating Half-yearly Half-yearly ​ ​ Dec-16 Jan-28 COP 250,000 250,000 — Floating Half-yearly Half-yearly ​ ​ Dec-16 Jan-34 COP 150,000 150,000 — Floating Half-yearly ​ Half-yearly ​ ​ Dec-16 Jan-34 COP 150,000 150,000 — Floating Half-yearly ​ Half-yearly ​ ​ Dec-16 Jan-34 UVR (1) 392,168 161,904 — Fixed Half-yearly ​ Half-yearly Domestic Interconexión Jul-18 Jul-35 COP 217,500 4,651 — Floating Half-yearly ​ Half-yearly commercial Eléctrica S.A Oct-21 Oct-31 COP 158,050 158,050 — Floating Quarterly ​ Quarterly loans E.S.P and Oct-21 Oct-28 COP 70,500 70,500 — Floating Quarterly ​ Quarterly ​ subsidiaries Jun-17 Jun-24 COP 28,000 8,717 — Floating Quarterly ​ Quarterly ​ ​ Aug-17 Aug-24 COP 32,000 23,863 — Floating Quarterly ​ Quarterly ​ ​ Dec-17 Dec-24 COP 10,000 7,472 — Floating Quarterly ​ Quarterly ​ ​ May-18 Nov-28 COP 59,467 59,467 — Floating Half-yearly ​ Half-yearly ​ ​ Nov-18 Nov-28 COP 23,000 23,000 — Floating Half-yearly ​ Half-yearly Committed credit line Ecopetrol S.A. Apr-20 Sep-23 USD 665 665 665 Floating Bullet Half-yearly Domestic syndicated commercial loan Oleoducto Bicentenario Jul-12 Jul-24 COP 2,100,000 592,550 800,450 Floating Quarterly Quarterly ​ (1)

Accounting policies (Policies)

Accounting policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting policies
Financial instruments	4.1 A financial instrument is any contract that creates a financial asset for one entity and a financial liability or equity instrument for another entity. The classification of financial instruments depends on the nature and purpose for which the financial assets or liabilities were acquired and is determined at the time of initial recognition. Financial assets and financial liabilities are initially measured at their fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognized immediately in profit or loss. Loans and trade receivables, other receivables and financial assets held–to–maturity are measured subsequently measured at amortized cost using the effective interest method. Additionally, equity instruments are measured at fair value. Measurements at fair value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place in the principal market of the asset or liability or in the absence of a principal market in the most advantageous market. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, supposing that the market participants act in their economic best interest. A fair value measurement of a non-financial asset considers a market participant's ability to generate economic benefits by using the asset for its most profitable use or by selling it to another market participant that would use the asset in its highest and best use. Ecopetrol Business Group uses valuation techniques that are appropriate for the circumstances and for which the data is available and enough to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are classified within the following scale, based on the lowest level input that is significant to the fair value measurement, as follows: ● Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities. The fair value of the Ecopetrol Business Group’s marketable securities with a quoted market price is based on Level 1 inputs. ● Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observed. Level 2 inputs include prices of similar assets, prices obtained through quotations made by stockbrokers, and prices that can be substantially corroborated with other observable data with the same contractual terms. For derivative contracts for which a quoted market price is not available, fair value estimates are generally determined using models and other valuation methods, the key inputs for which include future prices, volatility estimates, price correlation, counterparty credit risk and market liquidity, as appropriate. For other assets and liabilities, fair value estimations are generally based on the net present value of expected future cash. ● Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. The Ecopetrol Business Group does not use Level–3 inputs for the measurement of financial assets and liabilities. The Ecopetrol Business Group may use Level–3 inputs for the calculation the recoverable amount of certain non–financial assets for the purpose of impairment testing. Effective interest rate method The effective interest rate method is a method of calculating the amortized cost of a financial instrument and accounting of income or financial cost over the relevant period. The effective interest rate is the discount rate that exactly discounts estimated future cash receipts or payments (including all fees, transaction costs and other premiums or discounts) through the expected life of the financial instrument (or, when appropriate, at a shorter period), to the net carrying amount on initial recognition. This methodology is also applied to the instrument’s measurement related to the concession financial assets. Impairment The Ecopetrol Business Group evaluates if there is objective evidence that a financial asset or group of financial assets are impaired. Financial assets are evaluated for the impairment indicators at the end of each reporting period. Financial assets are considered impaired when there is objective evidence that, because of one or more events that occurred after initial recognition, the estimated future cash flows of the asset have been affected. For financial assets measured at amortized cost, the amount of the impairment loss recognized is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
Cash and cash equivalents	4.1.1 Cash and cash equivalents include cash on hand, financial investments that are highly liquid, bank deposits and special funds with original maturity dates of ninety days or less which are subject to an insignificant risk of changes in value. Restricted cash is a monetary resource with the objective of allocating it to specific and previously determined purposes.
Financial assets	4.1.2 The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. Except for trade receivables that do not contain a significant financing component or for which the Ecopetrol Business Group has applied the practical expedient, Ecopetrol Business Group initially measures a financial asset at its fair value plus, and, in the case of a financial asset not at fair value through profit or loss, at transaction costs. Trade receivables that do not contain a significant financing component or for which the Ecopetrol Business Group has applied the practical expedient are measured at the transaction price determined under IFRS 15. The Ecopetrol Business Group classifies its financial assets in the following categories: a) Financial assets measured at fair value through profit or loss Financial assets are held for trading and financial assets designated at the time of the initial recognition at fair value through profit or loss. Financial assets are classified as held for trading if they are acquired to be sold or repurchased in the short term. They are recognized at their fair value and losses or profits arising at the time of re–measurement are recognized in the statement of profit or loss. b) Financial assets measured at fair value with changes in other comprehensive income These are equity instruments of other non–controlled and non–strategic companies not allowing for any type of control or significant influence thereon and where the Ecopetrol Business Group’s management does not intend to negotiate with them in the short term. These investments are recorded at their fair value, and unrealized gains or losses are recognized in other comprehensive income. c) Financial assets at amortized cost This category is the most relevant to Ecopetrol Business Group. The Group's financial assets at amortized cost includes trade receivables, other receivables, loans to associates, and loans to employees. Loans and receivables are non–derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and receivables, including trade and other receivables, are measured initially at fair value and then at amortized cost using the effective interest rate method, less impairment. Loans to employees are initially recorded using the present value of the future cash flows, discounted at the current market rate for similar loans. If the interest rate is less than the current market rate, fair value will be less than the amount of the loan. This difference is recorded as a benefit to employees. Ecopetrol Business Group measures financial assets at amortized cost if both of the following conditions are met: ● The asset is held within a business model with the objective to hold financial assets to collect contractual cash flows. ● The contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment analysis. Gains and losses are recognized in profit or loss when the asset is derecognized, modified, or impaired. Derecognition of financial assets The Ecopetrol Business Group derecognizes a financial asset only upon the expiration of the contractual rights to the cash flows of the asset or, when it has transferred its rights to receive such cash flows or has assumed the obligation to pay the cash flows received in full without material delay to a third party and (a) it has transferred substantially all the risks and benefits inherent in the ownership of the financial asset or (b) it has neither transferred nor retained substantially all the risks and benefits of the asset, but has transferred control of the asset. When the Ecopetrol Business Group does neither transfer nor retain substantially all the risks and benefits of the asset or transfer control of the asset, the Ecopetrol Business Group continues to recognize the transferred asset, to the extent of its continuing participation, and it also recognizes the associated liability.
Financial liabilities	4.1.3 Financial liabilities correspond to the financing obtained by the Ecopetrol Business Group through bank credit facilities and bonds, accounts payables to suppliers and creditors. Bonds and bank credit facilities (this is the category most relevant to the Group) are initially recognized at their fair value, net of directly attributable transactions cost. After initial recognition, interest–bearing credit facilities and bonds are subsequently measured at amortized cost, using the effective interest rate (EIR) method. The effective interest method amortization is included as a financial expense in the statement of profit or loss. Amortized cost is calculated by considering any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the statement of profit or loss. Accounts payable to suppliers and creditors are short–term financial liabilities recorded at nominal value since it does not significantly differ from fair value. Derecognition A financial liability is derecognized when the obligation specified in the contract is discharged, cancelled, or expires. When an existing financial liability has been replaced by another from the same lender, under substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the de–recognition of the original liability and recognized as a new liability. The difference between the respective carrying amounts is recognized in the statement of profit or loss.
Derivative financial instruments and hedging activities	4.1.4 Financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. Changes in the fair value of derivatives are recognized as gains or losses in the statement of profit or loss, except for the effective portion of cash flow hedges, which is recognized in other comprehensive income and later reclassified to profit or loss when the hedge item affects profit or loss. Changes in fair value of derivative contracts, which do not qualify or are not designated as hedges, including forward contracts for the purchase and sale of commodities under negotiation for physical delivery or receipt of the commodity are recorded in profit or loss. Derivatives embedded in the host contract are accounted for as separate derivatives at fair value if their economic characteristics and risks are not closely related to those of the host contracts and the host contracts are not held for trading or designated at fair value through profit or loss. These embedded derivatives are measured at fair value with changes in fair value recognized in profit or loss.
Hedging operations	4.1.5 For purposes of hedge accounting, hedges are classified as: ● Cash flow hedges: hedges of the exposure to variability in cash flows attributable to a particular risk associated with all, or a component of, a recognized asset or liability or a highly probable forecast transaction, and that could affect profit or loss. ● Hedges of net investments in foreign operations. ● Fair value hedges: hedges of the exposure to changes in fair value of a recognized asset or liability or an unrecognized firm commitment, or a component of any such item, that is attributable to a particular risk and that could affect profit or loss. At the inception of a hedge relationship, Ecopetrol Business Group formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the risk management objective and strategy for undertaking the hedge. Such hedges are expected to be highly effective in achieving offsetting changes in fair value or cash flows and are assessed on an ongoing basis to determine whether they have been highly effective throughout the financial reporting periods for which they were designated.
Cash flow hedge	4.1.5.1 The effective portion of the gain or loss on the hedging instrument is recognized in Other Comprehensive Income (OCI) in the cash flow hedge reserve, while any ineffective portion is recognized immediately in the statement of profit or loss. The amounts previously accumulated in OCI are recognized in profit or loss when the hedged transaction affects the statement of profit or loss. If the hedged transaction subsequently results in the recognition of a non-financial item, the amount accumulated in equity is removed from the separate component of equity and included in the initial cost or other carrying amount of the hedged asset or liability. If the hedging instrument expires or is sold, terminated, or exercised without replacement or rollover, or if its designation as a hedge is revoked or when the hedge no longer meets the criteria for hedge accounting, any cumulative gain or loss previously recognized in other comprehensive income remains separately in equity until the forecast transaction occurs is recognized in the consolidated statement of profit or loss. When it is no longer expected that the initially hedged transaction will occur. Ecopetrol Business Group designates certain loans as a hedging instrument for its exposure to exchange rate risk in future crude oil exports. Additionally, the Group enters positions with derivative financial instruments such as commodity swaps, cross currency swaps or interest rate swaps to hedge commodity price risks, exchange rate risk and interest rate risk, respectively, which may also be designated as cash flow hedges.
Hedge of net investment in a foreign operation	4.1.5.2 Hedges of a net investment in a foreign operation, including a hedge of a monetary item that is accounted for as part of the net investment, are accounted for similarly to cash flow hedges. Gains or losses on the hedging instrument relating to the effective portion of the hedge are recognized as OCI while any gains or losses relating to the ineffective portion are recognized in the statement of profit or loss. On the disposal of a foreign operation, the cumulative value of any such gains or losses recorded in equity is transferred to the statement of profit or loss. Ecopetrol allocates long–term loans as hedging instruments for its exposure to foreign exchange risk on its investment in subsidiaries whose functional currency is the U.S. dollar. See Note 30.4 for further information.
Fair value hedge	4.1.5.3 Fair value hedge The gain or loss on the hedging instrument shall be recognized in profit or loss or other comprehensive income if the hedging instrument hedges an equity instrument for which an entity has elected to present changes in fair value in other comprehensive income. The hedging gain or loss on the hedged item shall adjust the carrying amount of the hedged item (if applicable) and be recognized in profit or loss. If the hedged item is a financial asset (or a component thereof) that is measured at fair value through other comprehensive income, the hedging gain or loss on the hedged item shall be recognized in profit or loss. However, if the hedged item is an equity instrument for which an entity has elected to present changes in fair value in other comprehensive income, those amounts shall remain in other comprehensive income.
Inventories	4.2 Inventories are stated at the lower of cost and net realizable value. Inventories mainly comprise crude oil, fuels and petrochemicals and consumable inventories (spares and supplies). The cost of crude oil is the production costs, including transportation costs. The cost required to bring a pipeline into working order, is treated as part of the related pipeline. The cost of other inventories is determined based on the weighted average cost method, which includes acquisition costs (deducting commercial discounts, rebates, and other similar items), transformation, and other costs incurred to bring inventory to their current location and condition, such as transportation costs. Consumable inventories (spares and supplies) are recognized as inventory and then charged to expense, maintenance, or project to the extent that such items are consumed. Ecopetrol estimates the net realizable value of inventories at the end of the period. When the circumstances that previously caused inventories to be written down below cost no longer exist, or when there is clear evidence of an increase in the net realizable value because of a change in economic circumstances, the amount of the write down is reversed. The reversal cannot be greater than the amount of the original write-down, so that the new carrying amount will always be the lower of the cost and the revised net realizable value.
Related parties	4.3 Related parties are considered those in which one party can control, or has joint control of the other, or exercises significant influence over the other party in making financial, or operational decisions, or is a member of key management personnel (or close relative of a member). The Ecopetrol Business Group considers related parties to be associates, joint ventures, key management executives, entities managing resources for payment of employee post–employment benefit plans and Colombian government entities for the purposes of certain relevant transactions, such as the purchase of hydrocarbons and the fuel price stabilization fund (see Note 31 – Related parties).
Investments in associates	4.3.1 An associate is an entity over which the Ecopetrol Business Group has significant influence but not control. Significant influence is the power to participate in the financial and operational policy decisions of the investee, but it is not control or joint control over those policies. Generally, these entities are those in which the Ecopetrol Business Group holds an equity interest with voting rights of 20% to 50%. See Exhibit 1 – Consolidated subsidiaries, associates, and joint ventures. Investments in associates are accounted for using the equity method. Under this method, the investment in an associate is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Ecopetrol Business Group’s share of net assets of the associate since the acquisition date. Goodwill related to the associate is included in the carrying amount of the investment and it is not tested for impairment separately. The Ecopetrol Business Group’s share of the results of operations of the associate is recognized in the consolidated statement of profit or loss. Any change in other comprehensive income is recognized in other comprehensive income of the Ecopetrol Business Group. After application of the equity method, the Ecopetrol Business Group determines if it is necessary to recognize an impairment on its investment in its associate. The Ecopetrol Business Group determines whether there is objective evidence that the investment is impaired. If there is such evidence, the amount of the impairment is calculated as the difference between the recoverable amount and its carrying value, and then the impairment is recognized in the consolidated profit or loss statement. When necessary, the Ecopetrol Business Group adjusts the accounting policies of associates to ensure consistency with the policies adopted by the Ecopetrol Business Group. Additionally, the equity method of these companies is measured on their most recent financial statements.
Joint ventures	4.3.2 A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint arrangement. Joint control exists only when decisions about the relevant activities require unanimous consent of the parties sharing such control. The accounting treatment for the recognition of joint ventures is the same as investments in associates.
Joint operations	4.4 A joint operation is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and obligations for the liabilities, relating to the arrangement. Joint operation contracts are entered into between Ecopetrol and third parties to share risk, secure capital, maximize operating efficiency and optimize the recovery of reserves. In these joint operations, one party is designated as the operator to execute the operations and report to partners according to their participating interests. Likewise, each party takes its share of the produced hydrocarbons (crude oil or gas), according to their share in production. When Ecopetrol participates as a non–operator partner, it recognizes the assets, liabilities, sales revenues, cost of sales and expenses based on the operator’s report. When Ecopetrol is the direct operator of joint venture contract, it recognizes its percentage of assets, liabilities, sales revenues, costs, and expenses, based on the participation of each partner in the items corresponding to assets, liabilities, sales revenues, costs, and expenses. When the Ecopetrol Business Group acquires or increases its participation in a joint operation in which the activity constitutes a business combination, such transaction is recognized applying the acquisition method in accordance with IFRS 3 – Business combination. The acquisition cost is the sum of the consideration transferred, which corresponds to the fair value, on the date of acquisition of the assets transferred and the liabilities incurred. Any transaction cost related to the acquisition or increased share in the joint operation that constitutes a business combination is recognized in the consolidated statement of profit or loss. The excess of the sum of the consideration transferred and the amount paid in the operation is recognized as goodwill. If the result is in an excess value of the net assets acquired over the amount paid in the purchase transaction, the difference is recognized as income in the consolidated statement of profit or loss on the date of recognition of the transaction.
Non-current assets held for sale	4.5 Non–current assets are classified as held for sale if their carrying values will be recovered principally through a sale transaction rather than through continued use. Non–current assets are classified as held for sale only when the sale is highly probable within one year from the classification date and the asset (or group of assets) is available for immediate sale in its present condition. These assets are measured at the lower of their carrying amount and fair value less related costs of disposal.
Property, plant, and equipment	4.6 Recognition and measurement Property, plant, and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Tangible components related to natural and environmental resources are part of property, plant, and equipment. The initial cost of an assets comprises its purchase price or construction cost, including import duties and non–refundable purchase taxes, any costs directly attributable to bringing the asset into operation, costs of employee benefits arising directly from the construction or acquisition, borrowing costs incurred that are attributable to the acquisition and construction of qualifying assets and the initial estimate of the costs of dismantling and abandonment of the item. Spare parts and servicing equipment are recorded as inventories and recognized as an expense as they are used. Major spare parts and stand–by equipment that the entity expects to use during more than one period are recognized as property, plant, and equipment. Any gain or loss arising from the disposal of a property, plant and equipment is recognized in profit or loss of the period. Subsequent disbursements Subsequent disbursements correspond to all payments to be made on existing assets to increase or extend the initial expected useful life, increase productivity or productive efficiency, allow for significant reduction of operating costs, increase the level of reserves in exploration or production areas or replace a part or component of an asset that is considered critical for the operation. The costs of repair, conservation and maintenance of a day-to-day nature are expensed as incurred. However, disbursements related to major maintenance are capitalized. Depreciation Property, plant, and equipment is depreciated using the straight–line method, except for those associated with exploration and production activities which are depreciated using the units–of–production method. Technical useful lives are updated annually considering factors such as: additions or improvements (due to parts replacement or critical components for the asset’s operation), technological advances, obsolescence, and other factors; the effect of this change is recognized from the period in which it was executed. Depreciation of an asset starts when it is ready to be used. Useful lives are determined based on the period over which an asset is expected to be available for use, physical exhaustion, technical or commercial obsolescence and legal limits or restrictions over the use of the asset. The estimated useful life of assets fluctuates in the following ranges: ​ Plant and equipment 10 – 55 years Pipelines, networks, and lines 10 – 63 years Buildings 10 – 100 years Other 3 – 35 years ​ Lands are recognized separately from buildings and facilities, and it is not subject to depreciation. Depreciation methods and useful lives are reviewed annually and adjusted if appropriate.
Natural and environmental resources	4.7 Recognition and measurement Ecopetrol uses the successful efforts method to account for exploration and production of crude oil and gas activities, following the provisions of IFRS 6 – Exploration for the evaluation of mineral resources. Exploration costs Acquisition and exploration costs are recorded as exploration and evaluation assets until the determination of whether the exploration drilling is successful or not; if determined to be unsuccessful, all costs incurred are recognized as expenses in the statement of profit or loss. Exploration costs are those incurred with the objective of identifying areas that are considered to have prospects of containing oil and gas reserves, including geological and geophysical, seismic costs, viability, and others, which are recognized as expenses when incurred. Furthermore, disbursements associated with the drilling of exploratory wells and those related to stratigraphic wells of an exploratory nature are charged as assets until it is determined if they are commercially viable; otherwise, they are expensed in the consolidated statement of profit or loss as dry wells expense. Other expenditures are recognized as expenses when incurred. An exploration and evaluation asset is no longer classified as such when the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. Exploration and evaluation assets are reclassified to the natural and environmental resources account after being assessed for impairment. All capitalized costs are subjected to technical and commercial revisions at least once a year to confirm the evaluation and exploration efforts continue the fields; otherwise, these costs are written off through to profit or loss. Exploration costs are net of the revenues obtained from the sale of crude oil during the extensive testing period, net of cost of sales since they are considered necessary to complete the asset. Development costs Development costs correspond to those costs incurred to obtain access to proved reserves and to provide facilities for extracting, treating, gathering, and storing. When a project is approved for development, the corresponding capitalized acquisition and exploration costs are classified as natural and environmental resources and costs after the exploration phase are capitalized as development costs of the properties that contain such natural resources. All development costs are capitalized, including drilling costs of unsuccessful development wells. Production costs Production costs are those incurred to operate and maintain productive wells and are part of the corresponding equipment and facilities. Production activity includes extraction of oil and gas to the surface, its gathering, treatment, and processing as well as storage in the field. Production costs are expenses recorded in the consolidated statement of profit or loss as incurred unless they add oil and gas reserves, in which case they are capitalized. Production and support equipment is recognized at cost and is part of property, plant, and equipment subject to depreciation. Capitalized costs also include decommissioning, dismantling, retiring and restoration costs, as well as the estimated cost of future environmental obligations. The estimation includes plugging and abandonment costs, facility dismantling and environmental recovery of areas and wells. Changes arising in new abandonment liability estimations and environmental remediation are capitalized in the carrying amount of the related asset. Depletion Depletion of natural and environmental resources is determined using the unit–of–production method per field, using proved developed reserves as a base, except in limited exceptional cases that require greater judgment by Management to determine a better amortization factor of future economic benefits over the useful life of the asset. Depreciation/depletion rates are reviewed annually, based on reserves reports and the impact of any changes is recognized prospectively in the financial statements. Reserves are independently estimated by internationally recognized external consultants and approved by Ecopetrol’s Board of Directors. Proved reserves consist of the estimated quantities of crude oil and natural gas demonstrated with reasonable certainty by geological and engineering data to be recoverable in future years from known reserves under existing economic and operating conditions, that is, at the prices and costs that apply at the date of the estimation. Impairment Assets associated to exploration, evaluation and production are subject to review for possible impairment in their carrying amount. See Notes 3.2 — Impairment of non-current assets Impairment of non–current assets
Capitalization of borrowing costs	4.8 Borrowing costs related to the acquisition, construction or production of a qualifying asset that requires a substantial period to get ready for its intended use are capitalized as part of the cost of such asset when it is probable that future economic benefits associated with the item will flow to the Ecopetrol Business Group and costs can be measured reliably. Other borrowing costs are recognized as finance costs. Projects that have been suspended but that the Ecopetrol Business Group intends to continue to pursue their development in the future, are not considered qualifying assets for the purpose of capitalization of borrowing costs.
Intangible assets	4.9 Intangible assets with a defined useful life, are stated at cost less accumulated amortization and any impairment loss. Intangible assets are amortized under the straight–line method, over their estimated useful lives. The estimated useful lives and amortization method are revised at the end of each reporting period; any change in estimates is recognized on a prospective basis. The disbursements related to research activities are expensed as incurred. Easements Easements are rights obtained for the use part of land for the installation of a transmission line. This implies restrictions on the use of the land by the owner and authorizations to Ecopetrol Business Group to build, operate, or maintain the transmission lines. These intangible assets are permanent rights with an indefinite term of use. Although the transmission lines to which these easements are related have a finite useful life, the rights do not expire, and Ecopetrol Business Group may replace the transmission lines at the end of their useful life or make use of said rights for any other service related to transmission electricity and telecommunications. Easements have an indefinite useful life, so they are not amortized and are reviewed annually for impairment.
Concessions	4.10 Ecopetrol Business Group operates concessions under public service concession agreements, in which the grantor controls or regulates the services provided by the concessionaire, whom they are provided to, and price of the service. IFRIC 12, Service Concession Arrangements, establishes general guidelines for the recognition and measurement of rights and obligations related to concession agreements and applies when the granting authority controls or regulates which services the concessionaire should provide with the infrastructure, to whom the services should be provided and at what price, and controls any significant residual interest in the infrastructure at the end of the concession period. Concessions that meet the above criteria and in which Ecopetrol Business Group has the obligation to return the assets to the grantor or the grantor retains any residual interest in the infrastructure at the end of the concession term are recognized according to IFRIC 12 - Concession Agreements of services. The Ecopetrol Business Group applies the guidance of IFRIC 12, on concessions that meet the criteria above, otherwise, Ecopetrol Business Group applies the guidance of IFRS 16 - Leases. Revenue from services is measured and recognized according IFRS 15 – Revenue from contracts with customers. In the other hand, the financial concession assets are measured and recognized according to IFRS 9 – Financial Instruments. The details of each type of concession by country is disclosed in Note 25. Intangible asset model Concessions in which Ecopetrol Business Group does not have a contractual right to receive cash or another financial asset from the grantor but has the right to charge users in exchange for the services provided, are recognized under the intangible asset model. The costs incurred by Ecopetrol Business Group for the construction of the concession infrastructure are on a straight-line basis over the term of the concession period. Revenue from construction or improvement services is recognized according to the level of completion of the construction, based on the costs actually incurred, including at construction margin. The operation and maintenance costs related to the concession are recognized in the statement of profit or loss once the infrastructure of the concession is ready for its use and Ecopetrol Business Group receives from the grantor the right to receive a fee for the services. Revenues are recognized based on the services provided as established in the concession agreements. Infrastructure expansions are recognized as intangible asset when they are expected to generate future economic benefits. The renovations costs, improvements and additions are capitalized, while routine maintenance and repairs that do not extend the useful life of the assets are recognized in the profit or loss statement. Financial asset model Concessions in which Ecopetrol Business Group has a contractual right to receive cash or another financial asset from the grantor for the services provided under the concession agreements and the grantor has little or no power to avoid payment are recognized under financial asset model. In this model the financial asset is classified as a financial asset concession, according to IFRS 9 – Financial Instruments. This asset accrues interest using the effective interest rate method (see Note 4.1). Mixed model for concessions This model is applied when the contract simultaneously includes remuneration commitments guaranteed by the grantor and remuneration commitments that depend on the level of use of the concession infrastructure. Contract asset model This business model is developed under electric power transmission concession agreement, associated with the obligation to build, and implement the electric power transmission infrastructure and is classified under the contractual asset model according to IFRS 15 – Revenue from contracts with customers (See Note 4.16). The contractual asset is recognized while the obligation to build and implement the infrastructure is satisfied, and revenue is recognized over the life of the project. The value of Ecopetrol Business Group's contractual asset is measured as the present value of the future cash flows that include the current remuneration allowed. The future cash flows are estimated at the beginning of the concession or in its extension, and the assumptions of its measurement are adjusted in the periodic fee review. Cash flows are defined based on the remuneration clauses identified in the contract, which is the consideration that Ecopetrol Business Group receives for the provision of the public transmission service to users. These received resources amortize the investments in infrastructure. Under this methodology, the performance of the concession is recognized by the straight-line method based on the implicit discount rate applied to the value of investments in construction, which considers the specifications of each project. The purpose of the rate is defining the financial component of the contractual asset, and it is determined on the initial date of each concession agreement and remains fixed during the term of the concession. In general, the construction of the infrastructure made by the operator constitutes a service that is provided to the grantor when there are concession agreements to supply public services, different from the operation and maintenance services, and there is a payment by it.
Goodwill	4.11 Goodwill Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for non–controlling interest and any previous interest held over the net identifiable assets acquired and liabilities assumed). After initial recognition goodwill is measured at cost less any accumulated impairment loss, which cannot be reversed in subsequent periods according to IAS 36. Goodwill is not amortized but tested for impairment annually.
Leases	4.12 As of January 1, 2019, the Ecopetrol Business Group adopted IFRS 16, “Leases” (“IFRS 16”) applying the modified retrospective scope. At the beginning of a contract, Ecopetrol Business Group assesses whether a contract is, or contains, a lease. This situation arises if the contract transfers the right to control the use of an identified asset for a period in exchange for a consideration. To assess whether a contract conveys the right to control an identified asset, the regulations of IFRS 16 are used. Ecopetrol Business Group applies the guidance of IFRS 16 – Leases on concessions contracts that do not meet the criteria of the guidance of IFRIC 12. Ecopetrol Business Group as a lessee On the commencement date of the lease, Ecopetrol Business Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying asset during the lease term. The interest expense on the lease liability and the depreciation expense on the right-of-use asset are recognized separately. In subsequent recognition, Ecopetrol business Group makes a remeasurement of the lease obligation upon the occurrence of events such as: a) changes in the lease term, b) changes in future lease payments resulting from variations in an index or in the rate used for determining the payments. The amount of the remeasurement of the obligation will be recognized as an adjustment to the asset for the right of use. Ecopetrol Business Group as a lessor Leases in which the Ecopetrol Business Group does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified as operational. Rental income is recognized in the statement of profit or loss on a straight-line basis over the lease terms. Right-of-use assets The Ecopetrol Business Group recognizes right-of-use assets on the commencement date of the lease (that is, the date on which the underlying asset is available for use). The right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of the lease liabilities. Right-of-use assets are amortized in a straight-line basis during the lease term. Right-of-use assets are subject to impairment assessment. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Lease liabilities At the commencement date of the lease, the Ecopetrol Business Group recognizes lease liabilities measured at the present value of the lease payments to be made during the term of the lease. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. Variable payments that do not depend on an index or rate are recognized as expenses in the period in which an event or condition indicates that the payment will occur. To calculate the present value of the lease payments, the Ecopetrol Business Group uses the incremental borrowing rate on the lease’s commencement date. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments or a change in the assessment of an option to purchase the underlying asset. Short-term leases and low-value asset leases The Ecopetrol Business Group elected to use the recognition exemptions for lease contracts that, at the commencement date, have a lease term of 12 months or less and do not contain a purchase option (short-term leases), and lease contracts for which the underlying asset is of low value (low-value assets). Joint Operating Agreements In JOA agreements, the Ecopetrol Business Group assesses whether it controls the use of the asset. If the Ecopetrol Business Group, as the operator, controls the use of the asset, it recognizes the entire right-of-use and lease liability in the consolidated financial statements. If it is the JOA who controls, it is analyzed whether the contract meets the characteristics of a sublease, and in that case each party must recognize the right of use in proportion to their participation.
Impairment of non-current assets	4.13 In order to evaluate if any non-current assets are impaired, Ecopetrol compares its carrying amount with its recoverable amount at least annually or earlier, if there is any indicator that an asset may be impaired. For purposes of impairment testing, assets are grouped into cash generating units (CGU), provided that those assets individually considered do not generate cash inflows that, to a greater extent, are independent from those generated by other assets or CGUs. The grouping of assets in different CGUs requires the exercise of professional judgment and the consideration, among other parameters, of the business segments. In this sense, in the Exploration and Production segment, each CGU corresponds to each one of the different contractual areas commonly called “fields”; by exception, in those cases where the cash inflows generated by several fields are interdependent from each other, those fields are grouped into a single CGU. In the case of the Refining and Petrochemicals, each CGUs corresponds to each one of the refineries, petrochemical plants, and companies in this segment of the Ecopetrol Business Group, for the Transportation segment, each pipeline system is considered an independent CGU, and for the Electric power transmission and toll roads concessions segment, which also includes telecommunication business, the CGUs are as follows: 1) energy power transmission; 2) toll roads; and 3) telecommunications. The recoverable amount of an asset is the higher amount of the fair value less costs of disposal or its value in use. If the recoverable amount of an asset (or of a CGU) is lower than its net carrying amount, such amount (or that of the CGU) is reduced to its recoverable amount, recognizing an impairment loss in profit or loss. Fair value less costs of disposal is usually higher than the value in use for the asset in the production segment due to some significant restrictions in the estimation of future cash flows, such as: a) future capital expenses that improve the CGU performance, which could result in expected increase of net cash flows, and b) items before taxes that reflect specific business risks, resulting in a higher discount rate. Fair value less costs of disposal is determined as the sum of the future discounted cash flows adjusted to the estimated risk. The estimations of expected future cash flows used in the assessment of impairment of the assets include estimates of futures commodity prices, supply and demand estimations, and the margins of the products. Fair value less costs of disposal, as described above, is compared to valuation multiples and quoted prices of shares in companies comparable to Ecopetrol to determine if it is reasonable. When an impairment loss is recorded, future amortization expenses are calculated based on the adjusted recoverable amount. Impairment losses may be recovered only if the reversal is related to a change in estimations used after impairment loss was recognized in previous periods. These recoveries do not exceed the carrying amount of the assets net of depreciation or amortization that would have been determined if such impairment had not been recognized. The carrying amount of non–current assets reclassified as assets held–for–sale is compared to its fair value less costs of disposal. No other provision for depreciation, depletion or amortization is recorded if the fair value less costs of sale is lower than the carrying amount.
Provisions and contingent liabilities	4.14 Provisions are recognized when the Ecopetrol Business Group has a current obligation (legal or constructive) because of a past event, it is probable that Ecopetrol will be required to settle the obligation, and a reliable estimation can be made of the amount of the obligation. Where applicable, they are recorded at present value, using a rate reflecting the risk specific to the liability. Future environmental decommissioning costs related to current or future operations, are accounted for as expenses or assets. Expenditures related to past operations that do not contribute to the obtaining of current or future benefits, are expensed as incurred. The recognition of these provisions coincides with the identification of an obligation related to environmental remediation and Ecopetrol uses available information to determine a reasonable estimation of the related cost. Provisions for which a negative outcome is assessed as possible are not recognized but are disclosed in the explanatory notes; including those for which the amount cannot be estimated. If there is an expectation that the provision will be reimbursed, either in whole or in part, for example by virtue of an insurance contract, the amounts expected to be reimbursed are recognized as a separate asset only when such reimbursement is almost certain. If the effect of the time value of money is significant, the provisions are discounted using the current market rate before taxes reflecting, as applicable, the liability specific risks. When recognizing the discount, the increase of the provision resulting from time elapsed is recognized as financial cost in the profit or loss statement. Asset retirement obligation Liabilities associated with the retirement of assets are recognized when there are current obligations, either legal or constructive, related to the abandonment and dismantling of wells, facilities, pipelines, buildings, and equipment. The obligation is usually recorded when the assets are installed or when the surface or the environment are altered at the operating sites. These liabilities are calculated using the discounted cash flow method, using a pre–tax rate reflecting current market conditions similar liabilities and considering the economic limits of the field or the useful life of the respective asset. When it is not possible to determine a reliable estimation in the period in which the obligation originates, a provision is recognized when there is enough information available to make the best estimation. The carrying amount of the provision is reviewed and adjusted annually considering changes in the assumptions used for its estimation, using a risk-free rate adjusted by a premium that reflects the risk and the company credit rating under the current market conditions. Any change in the present value of the estimated expenditure is reflected as an adjustment to the provision and the corresponding property, plant and equipment and natural and environmental resources. When a decrease in the asset retirement obligation related to a producing asset exceeds the carrying amount of the asset, the excess is recognized in the consolidated statement of profit or loss. The increase in the provision due to the passage of time is recognized in results for the period as a financial expense.
Income tax and other taxes	4.15 Income tax expense is comprised of income tax payable for the period and the effect of deferred taxes in each period. Current income taxes are recognized in income except when they relate to items recognized in other comprehensive income, in which case the corresponding tax effect is also recognized in other comprehensive income. Income tax assets and liabilities are presented separately in the consolidated statement of financial position, except where there is a right of setoff within fiscal jurisdictions and an intention to settle such balances on a net basis. Income tax is paid by each legal entity and not on a consolidated basis.
Current income tax	4.15.1 The Ecopetrol Business Group determines the provision for income tax based on the highest amount between taxable income and presumptive income (the minimum estimated amount of taxable profit on which the law expects to quantify and collect income taxes). Taxable income differs from profit before tax as reported in the consolidated statement of profit or loss, because of: items of income or expense that are taxable or deductible in other periods, special taxable deductions, tax losses and income and line items measured that, according to applicable tax laws in each jurisdiction, are considered nontaxable or nondeductible.
Deferred income tax	4.15.2 Deferred tax is provided using the liability method for temporary differences between the carrying amounts of existing assets and liabilities in the consolidated financial statements and their respective tax bases. A deferred tax liability is recognized for all taxable temporary differences. A deferred tax asset is recognized for all deductible temporary differences and for all accumulated tax losses, if there is a reasonable expectation that the Ecopetrol Business Group will generate future tax profits against which they will be used. Deferred taxes on assets and liabilities are calculated based on the tax rates that are expected to apply during the years in which temporary differences between the carrying amounts and tax bases are expected to be reversed. The carrying amount of a deferred tax asset is subject to review at the end of each reporting period, and it is reduced to the extent it is no longer probable that the corresponding legal entity will generate enough future taxable profit to realize such deferred tax asset. In the statement of financial position, deferred tax assets are reflected net and as an offset against deferred tax liabilities, depending on the overall tax position in a particular jurisdiction and on the same taxable entity. Deferred taxes are not recognized when they arise in the initial recognition of an asset or liability in a transaction (except in a business combination) and at the time of the transaction, do not affect the accounting or tax profit, or in respect of the taxes on the possible future distribution of accumulated profits of subsidiaries or investments accounted for by the equity method, if at the time of the distribution it may be controlled by Ecopetrol and it is probable that the retained earnings will be reinvested by the Ecopetrol Business Group companies and, therefore, will not be distributed to the Group.
Other taxes	4.15.3 The Ecopetrol Business Group recognizes in profit or loss the costs and expenses related to other taxes than the income tax, such as the wealth tax, which is determined based on the tax equity, the industry and commerce tax on income obtained in the municipalities for performance of commercial, industrial, and service activities, and the transport tax on volumes loaded in the transport systems. Taxes are calculated in accordance with current tax regulations. For more details, see Note 10.
Employee benefits	4.16 Salaries and benefits for Ecopetrol’s employees are governed by the Colombian Collective Labor (Agreement 01 of 1977), and, by the Colombian Substantive Labor Code. In addition to the benefits determined by labour laws, employees are entitled to fringe benefits which are subject to the place of work, type of work, length of service, and basic salary. An annual interest of 12% is recognized on accumulated severance amounts for each employee, and the payment of compensation is provided for when special circumstances arise resulting in the non–voluntary termination of the contract, without justified cause, and in periods other than the probationary period. Ecopetrol belonged to the special pension regime under which pension liabilities are Ecopetrol’s responsibility and not pension fund’s responsibility. However, Law 797 of January 29, 2003, and Legislative Act 001 of 2005 determined that Ecopetrol will no longer belong to the said regime and that from that point on employees would be part of the General Pension Regime. Consequently, pension obligations related to employees pensioned until July 31, 2010, are still Ecopetrol’s responsibility. Employees are entitled to such pension bonus if they worked with Ecopetrol prior to January 29, 2003, but whose labor agreement expired without renewal before that date. All labor benefits of employees who joined Ecopetrol before 1990 are Ecopetrol’s responsibility, without the involvement of any social security entity or institution. Service cost for the employee and his/her relatives registered with Ecopetrol is determined by means of a mortality table, prepared based on facts occurring during the year. For employees who joined Ecopetrol after the Act 50 of 1990 went in effect, Ecopetrol makes periodic contributions for severance payments, pensions, and labor risks to the respective funds. In 2008, Ecopetrol partially settled the value corresponding to monthly pension payments from its pension liabilities, transferring such liabilities and their underlying amounts to autonomous pension funds (PAP, for its acronym in Spanish). The funds transferred, and returns on those funds, cannot be redirected, nor can they be returned to the Ecopetrol Business Group, until all of the pension obligations have been fulfilled. The settled obligation covers allowances and pension bonds payments, with health and education remaining Ecopetrol’s responsibility. Employee benefits are divided into four groups comprised as follows: a) Short–term employee benefits and post–employment defined benefits: Benefits to employees in the short term mainly correspond to those which payment will be made in the term of twelve months following the closing of the period in which the employees have rendered their services. These mainly include salaries, severance payments, vacation, bonuses, and other benefits. Post–employment benefits of defined contributions plans correspond to the periodic payments for severance, pensions, and labor risk payments that the Ecopetrol Business Group makes to the respective funds that assume these obligations in their entirety. The above benefits are recognized as an expense with an associated liability after deducting any already paid amounts. b) Post–employment defined benefit plans: In the defined benefits plan, the Ecopetrol Business Group provides the benefits agreed to current and former employees and assumes the actuarial and investment risks. The following benefits are classified as long–term defined benefit plans recognized in the financial statements according to the calculations of an independent actuary: ● Pensions ● Pension bonds ● Health ● Educational plan ● Retroactive severances Liabilities recognized in the statement of financial position with respect to these benefit plans are determined based on the present value of the defined benefit obligation at the date of the statement of financial position less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected credit unit method, which considers employees’ years of service and, for pensions, average or final pensionable remuneration. This obligation is discounted at its present value using interest rates of high–quality government bonds denominated in the currency in which the benefits will be paid and of a duration consistent with the plan obligations. These actuarial calculations involve several assumptions that could differ from the events that will effectively take place in the future. Said assumptions include the determination of a discount rate, future salary increases, mortality rates and future pension increases. Because of the complexity of the calculation, the underlying assumptions and long–term nature of these plans, the obligations for defined benefits are extremely sensitive to changes in assumptions. All key assumptions are revised at the end of the reported period. In determining the appropriate discount rate, in absence of a broad high quality bond market, Management considers interest rates corresponding to the class B TES bonds issued by the Colombian Government as its best reference, at an appropriate discount rate with maturities extrapolated in line with the term expected for each benefit plan. The mortality rate is based on the country’s rate, the latest version of which is the RV08 mortality table published in resolution 1555 of October 2010. The future salary and pension increases are linked to the country’s future inflation rates. Note 22 – Provisions for employee benefits The amounts recognized in the consolidated statement of profit or loss related to employees defined benefit plans are comprised mainly by service cost and the net financial expense. Service cost includes mainly the increase in present value of the benefit obligation during the period (current service cost) and the amount resulting from a new benefit plan. Plan amendments corresponds to changes in benefits and are usually recognized when all legal and regulatory approvals have been obtained and the effects have been conveyed to the employees involved. The net financial expense is calculated using the net liability for defined benefits as compared with the yield curve of the discount rate at the beginning of each year for each plan. The net defined benefit obligation or asset resulting from actuarial profits and losses, the asset ceiling effect, and the asset profitability, excluding the value of recognized in the consolidated statement of profit or loss, are recognized in other comprehensive income. When the plan assets exceed the gross obligation, the recognized asset is limited to the lower of the surplus in the defined benefits plan and the ceiling of assets determined using a discount rate based on Colombian Government bonds. (a) Others long-term benefits Others long–term benefits include the five–year term bonus which also considered in the actuarial calculation. This benefit is a cash bond that accumulates annually and is paid every five years to employees. The Ecopetrol Business Group recognizes in the consolidated statement of profit or loss the service cost, the net financial cost and the adjustment to the obligation of the defined benefit plan. (b) Termination benefits Termination benefits are recognized only when a detailed plan exists and there is no possibility to withdraw the offer. The Ecopetrol Business Group recognizes a liability and an expense for termination benefits at the earliest date between the date when the offer of such benefits cannot be withdrawn and the date when the restructuring costs are recognized.
Revenue from contracts with customers	4.17 The Ecopetrol Business Group’s business is based on four principal sources of revenue from customer contracts: 1) sales of crude oil and natural gas, 2) services associated with the transport of hydrocarbons, and 3) sales of refined and petrochemical products, and biofuels, and 4) transmission of energy power and toll roads concessions. Revenue from customer contracts is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration that the Ecopetrol Business Group expects to receive in exchange for those goods or services. Sales of crude oil and natural gas Revenue from sales of crude oil and natural gas is recognized upon transfer of control to the buyer. This generally occurs when the product is physically transferred into a vessel, pipe or by another delivery method, thus fulfilling the Ecopetrol Group's performance obligations to its customers. For some natural gas supply contracts with a replacement period, a distinction is made between quantities of gas consumed and not consumed to recognize the respective revenue or liability relating to quantities that will be requested in the future. Once the customer claims such natural gas, the revenue is recognized. Services associated with hydrocarbons transport Revenue from hydrocarbons transport services is recognized when the service is provided to the customer and there are no contractual conditions that prevent recognition of the revenue. Ecopetrol Business Group companies are principal in providing these services. Ship/ Take-or-Pay contracts for the sale of refined products, storage and transport specify minimum quantities of products or services for which a customer will pay, even if the latter does not receive them or use them (“deficient quantities”). Although the Ecopetrol Business Group expects customers to recover all deficient quantities to which they are contractually entitled, any load revenue received related to temporary shortfalls that will be offset in a future period will be deferred and that amount recognized as revenue in the event any of the following scenarios occurs: a) The customer exercises its right to deficient volumes or services, or b) The possibility is remote that the customer will exercise its right to deficient volumes or services. Refined and petrochemical products and biofuels In the case of refined products and petrochemicals, such as fuel oil, asphalt, polyethylene, LPG and propane and gasoline, etc., revenue is recognized when the products are shipped and delivered by the refinery; subsequently, they are adjusted for price changes, in the case of products with regulated prices. In the case of the companies that distribute natural gas and LPG, the revenue from the services is recognized when the service is provided to the customer. In other cases, Ecopetrol Business Group recognizes revenue when the performance obligation is satisfied, giving rise to the certain, probable, and quantifiable right to demand payment. Under current local regulation, Ecopetrol sells regular gasoline and ACPM in Colombia at a regulated price. In accordance with Decree 1068 of 2015, the Ministry of Mines and Energy semiannually calculates and settles Ecopetrol’s net position to be stabilized for each fuel by the Fuel Price Stabilization Fund (FEPC, for its acronym in Spanish). The net position corresponds to the sum of the spreads throughout the period, the result of which is the amount in pesos owed to the Company and charged to the resources of the FEPC. The differential corresponds to the product between the volume reported by the Company at the time of sale and the difference between the parity price and the reference price, the parity price being that which corresponds to the daily prices of motor and diesel gasoline observed during the month, expressed in pesos, referenced to the Gulf of the United States market, calculated by applying Resolution 18 0522 of 2010, and the reference price is the Producer Income defined by the Ministry of Mines and Energy for these purposes. Therefore, this differential constitutes a greater or lesser value of sales revenue and a receivable or payable account for Ecopetrol. Electric power transmission and toll roads concessions This group refers to 1) supplying of electricity transmission services in Latin America through the operation and maintenance of high-voltage transport networks and interconnections 2) design, construction, operation, and maintenance of road infrastructures, 3) supplying of information technology, and (4) telecommunications services. The recognition of revenue from electric power transmission services occurs according to the performance obligations based on the conditions of the contracts that include requirements established by the electricity market regulators in the countries in which Ecopetrol Business Group operates. This is generally achieved when the performance obligations agreed with the regulatory entities are executed, considering the period and the quality of the service established in the contracts. Technology and telecommunications services revenue is also recognized according to the performance obligations defined in contracts with customers. For service concession agreements, Ecopetrol Business Group measures the revenue in accordance with IFRIC 12 at the fair value of the consideration received or receivable, considering the payment defined in the contracts. ● Recognize revenues and costs for project construction services in results for the period, according to the percentage completion method of the projects at the reporting date, which includes an estimated profit margin determined based on the macroeconomic characteristics and the conditions of the project, and the weighting of the estimated receivable cash flows related to the estimated cash flows of the construction. ● Recognize revenues and costs for operation and maintenance services of third-party facilities in the profit or loss statement for the period, as the service is provided, based on the performance obligations established in the contracts. ● Recognize the financial returns of concession agreements classified as financial assets or contractual assets in the statement of profit or loss for the period using the effective interest rate method. Significant financing component Payments received from customers are generally short term. Using the practical expedient in IFRS 15, Ecopetrol Business Group does not adjust the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception, that the period between the transfer of the promised good or service to the customer and the customer’s payment for that good or service to be one year or less. Considering that revenues related to concessions generates long term non-current accounts receivables to be received from grantors, a financial component is applied considering the measurement of the asset as amortized cost, defining the future cash flows and applying and discount rate, according to IFRS 9 – Financial Instruments. Variable considerations Upon fulfillment of the obligations set forth in agreements with customers, via delivery of the product or provision of the service, variable components of the transaction price may exist, such as the exchange rate for crude exports or international price fluctuations. In these cases, the Ecopetrol Business Group makes its best estimate of the transaction price that reflects the goods and services transferred to customers. Agreements signed with customers do not include material variable considerations such as rebates, refunds, or discounts. Customer advances These correspond to contractual obligations in which the Ecopetrol Business Group receives advances from customers. These advances by customers form part of the policies and risk assessment defined by the Business Group.
Costs and expenses	4.18 Costs and expenses are presented according to their nature; they are detailed in the related disclosures in cost of sales, and administrative, operating, projects and other associated expenses.
Finance income (expenses)	4.19 Finance income and expenses include mainly: a) borrowings costs on loans and financing, except for those that are capitalized on qualifying asset, b) gains and losses on changes in fair value of financial instruments measured at fair value through profit or loss, c) currency exchange differences of financial assets and liabilities, except for debt instruments designated as hedging instruments, d) interest expenses as a result of discounting long–term liabilities (abandonment costs and pension liabilities), e) dividends derived from equity instruments measured at fair value with changes in other comprehensive income.
Information by business segment	4.20 Ecopetrol presents the information related to its business segments in its consolidated financial statements in accordance with paragraph 4 of IFRS 8 – Operation segments. The operations of the Ecopetrol Business Group are performed through four business segments: 1) Exploration and Production, 2) Transport and Logistics, 3) Refining, Petrochemical and Biofuels, and 4) Electric Power Transmission and Toll Roads Concessions. Segments are determined based on management objectives and corporate strategic plans, considering that these businesses: (a) are engaged in different commercial activities, which generate sales revenue and incur costs and expenses; (b) the operational results are revised regularly by the Ecopetrol Business Group’s Governance that makes operational decisions to allocate resources to the various segments and assess their performance; and (c) there is differentiated financial information available. Internal transfers represent sales to inter–company segments and are recognized and presented at market prices. a) Exploration and production : This segment includes activities related to the exploration and production of oil and gas. Revenues are derived from sales of oil and natural gas at market prices to other segments and to third parties (domestic and foreign distributors). Costs include costs incurred in production. Expenses include all exploration costs that are not capitalized. b) Transport and logistics : This segment includes sales revenue and costs associated with the transport and distribution of hydrocarbons and derivative products in operation. c) Refining, petrochemicals, and biofuels : This segment mainly includes activities performed at the Barrancabermeja and Cartagena refineries, where crude oil from production fields is refined or processed. Additionally, this segment includes distribution of natural gas and LPG activities performed by Invercolsa Group. Revenues are derived from the sale of products to other segments and to domestic and foreign customers and include refined and petrochemical products at market prices and some fuels at regulated price. This segment also includes industrial service sales to customers. d) Electric power transmission and toll roads concessions: This segment includes activities of supplying electric power transmission services, design, development, construction, operation, and maintenance of road and energy infrastructure projects. Revenues come from the supplying of these services to domestic and foreign clients (mainly Latin America). This segment also includes the supplying of information technology and telecommunications services. See information by segments in Note 33.
Business combinations	4.21 Business combinations ​ The Ecopetrol Business Group accounts for business combinations using the acquisition method. Identifiable assets acquired and liabilities assumed are initially measured at fair value on the acquisition date. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling interests in the acquiree. For each business combination, the Ecopetrol Business Group elects whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred and included in administrative expenses. The Ecopetrol Business Group determines that it has acquired a business when the acquired set of activities and assets include an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired process is considered substantive if it is critical to the ability to continue producing outputs, and the inputs acquired include an organized workforce with the necessary skills, knowledge, or experience to perform that process or it significantly contributes to the ability to continue producing outputs and is considered unique or scarce or cannot be replaced without significant cost, effort, or delay in the ability to continue producing outputs. ​ When Ecopetrol Business Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Ecopetrol Business Group re-assesses whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognized at the acquisition date. If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in profit or loss. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of Ecopetrol Business Group’s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units. Where goodwill has been allocated to a cash-generating unit (CGU) and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operation and the portion of the cash-generating unit retained.

Accounting policies (Tables)

Accounting policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting policies
Schedule of depreciation and amortisation expense	​ Plant and equipment 10 – 55 years Pipelines, networks, and lines 10 – 63 years Buildings 10 – 100 years Other 3 – 35 years

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2021
IFRS Statement [Line Items]
Schedule of Cash and cash equivalents	​ ​ ​ ​ ​ ​ ​ 2021 2020 Banks 11,080,569 4,215,518 Short–term investments 3,467,859 866,606 Cash 1,478 184 ​ 14,549,906 5,082,308 ​
Credit quality of issuers of investments [Member]
IFRS Statement [Line Items]
Schedule of other financial assets measured at fair value through profit or loss	The following table reflects the credit quality of banks in which Ecopetrol Business Group has deposits and check accounts, and issuers of investments included in cash and cash equivalents: ​ ​ ​ ​ ​ ​ Rating 2021 2020 AAA 3,892,694 2,578,090 F1+ ​ 2,383,713 ​ 1,286,310 BRC1+ ​ 2,172,603 ​ 99,923 A-1 1,294,164 851,394 BBB ​ 1,277,357 ​ 121 A ​ 1,224,990 ​ 4,319 F1 ​ 1,177,581 ​ 207,773 AA ​ 526,127 ​ 546 P-2 ​ 370,582 ​ — BB ​ 106,070 ​ — Aaa ​ 27,621 ​ 1,431 AAAf ​ 19,481 ​ 28,552 B ​ 14,674 ​ — F3 ​ 12,853 ​ 12,184 Aa3 ​ 11,239 ​ — C ​ 6,615 ​ — CCC ​ 4,872 ​ — A3 ​ 3,049 ​ — BRC1 ​ 1,671 ​ 2,336 A1 ​ 1,032 ​ — AAAmmf ​ — ​ 2,162 AA- — 22 Other 20,918 7,145 ​ 14,549,906 5,082,308

Trade and other receivables (Ta

Trade and other receivables (Tables)	12 Months Ended
	Dec. 31, 2021
Trade and other receivables, net
Schedule of trade and other receivables, net	​ ​ ​ ​ ​ ​ ​ 2021 2020 Current Customers and concessions Foreign (1) 6,155,070 2,021,070 Domestic (2) 3,355,716 1,913,106 Fuel price stabilization fund (3) 7,824,788 319,927 Accounts receivable from employees 106,547 97,723 Industrial services 32,096 39,651 Related parties (Note 31) ​ 9,355 ​ 105,048 Other (4) 965,310 322,567 ​ 18,448,882 4,819,092 Non–current Customers and concessions ​ ​ ​ ​ Foreign (5) ​ 19,622,925 ​ — Domestic (6) ​ 1,852,111 ​ 51,955 Accounts receivable from employees 534,051 474,693 Related parties (Note 31) ​ 335 ​ — Other (4) 2,150,294 149,959 ​ 24,159,716 676,607 (1) The amount as of December 31, 2021, includes $1,067,581 related to energy power transmission and telecommunication services provided to customers and, $2,238,208 related to foreign concessions to be received from foreign grantors. These services are provided by Interconexión Eléctrica S.A. (2) The amount as of December 31,2021, includes $309,282 related to energy power transmission and telecommunication services provided to customers in Colombia, and $438,411 related to national concessions to be received from the grantor in Colombia. These services are provided by Interconexión Eléctrica S.A. (3) Corresponds to the application of Colombian Resolution 180522 of March 29, 2010, and other regulations that modify and add to it (Decree 1880 of 2014 and Decree 1068 of 2015), which establish the procedure to recognize the subsidy for refiners and importers of current motor gasoline and diesel, and the methodology for calculating the net position (the value arising from the differences between the parity price and the regulated price, which can be positive or negative). For 2021, the increase in accounts receivable is due to the increase in international indicators. Ecopetrol Business Group received payments during 2021 from the Stabilization Fund as follows: Ecopetrol $3,071,000 and Reficar $782,468 corresponding to the settlement of the second half of 2020 and the first half of 2021. (4) Corresponds mainly to accounts receivable from ISA CTEEP to the Government of Brazil for labor benefits defined by Law 4819 of 1958 and crude loan agreements for transportation systems. This retirement supplement plan governed by State Law 4819/58 provides for the creation of a State Social Assistance Fund for employees admitted until May 1974. The company reiterates the understanding of its legal department and its external legal advisors that the expenses derived from State Law 4819/58 and its respective regulations are the total responsibility of SEFAZ-SP (Secretariat of Treasury of the State of São Paulo); therefore, it considers that these values are likely to be received. Management monitors the advances and developments related to the legal aspect of the matter and continuously evaluates the possible impacts on its financial statements. The gross value of these accounts receivable is $1,772,101 , and the provision for expected losses established, included in the provision line for expected credit losses, is $368,299 , for a net book value of $1,403,802 . (5) Corresponds to the accounts receivables related to financial assets from energy transmission companies in Brazil for $13,661,459 , and Peru for $88,939 , and financial assets from toll road concessions in Chile for $5,872,527 . Those amounts were measured in accordance with IFRS 9 and IFRIC 12. (6) Accounts receivable for road concessions in Colombia of Interconexión Eléctrica S.A., which mainly corresponds to construction, operation, and maintenance services for $1,796,456 .
Schedule of changes in the allowance for doubtful accounts	The changes in the allowance for doubtful accounts for the year ended December 31, 2021, 2020 and 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Opening balance 291,144 282,791 268,654 (Recoveries) additions, net (7,459) 16,253 14,158 Effect of business combination (Note 12) ​ 474,654 ​ — ​ — Effect of change of control in subsidiaries (Note 2.2) ​ — ​ (5,517) ​ — Accounts receivable write–off and uses (8,148) (2,383) (21) Closing balance 750,191 291,144 282,791

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2021
Inventories, net
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ 2021 2020 Crude oil 3,305,965 1,719,426 Fuels and petrochemicals 2,845,486 1,407,297 Materials for the production of goods 2,246,761 1,927,237 ​ 8,398,212 5,053,960
Schedule of changes of the allowances for losses	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ 2019 Opening balance (109,549) (131,526) (86,938) (Additions) reversals, net (58,437) (9,748) (44,191) Increase due to business combination ​ (2,837) ​ — ​ — Foreign currency translation (1,449) (122) 371 Effect of change of control in subsidiaries ​ — ​ 20,075 ​ — Other (1) 44,610 11,772 (768) Closing balance (127,662) (109,549) (131,526) (1) It mainly includes the update of the provision in joint operations.

Other financial assets (Tables)

Other financial assets (Tables)	12 Months Ended
	Dec. 31, 2021
Other financial assets [Line Items]
Schedule of other financial assets	​ ​ ​ ​ ​ ​ ​ 2021 2020 Assets measured at fair value Investment Portfolio – Local currency 759,892 474,535 Investment Portfolio – Foreign currency 1,172,718 2,494,124 Assets measured at fair value through other comprehensive income ​ 2,789 ​ 732 Hedging instruments(1) 17,449 98,877 Investments in equity securities and trust funds (2) ​ 606,624 ​ — ​ ​ 2,559,472 ​ 3,068,268 Assets measured at amortized cost ​ 375,262 ​ 3,391 ​ 2,934,734 3,071,659 ​ ​ ​ Current 1,627,150 2,194,651 Non–current 1,307,584 877,008 ​ 2,934,734 3,071,659 (1) As of December 31, 2021, corresponds to swap contracts to hedge commodity price risk and forwards contracts to hedge exchange rate risk. (2) They include deposits in trusts companies and restricted funds in Brazil, Peru, Chile, and Colombia.
Schedule of maturities of other financial assets	​ ​ ​ ​ ​ ​ ​ 2021 2020 Up to 1 year 1,627,150 2,194,651 1 – 2 years 434,372 101,216 2 – 5 years 786,760 573,420 > 5 years 86,452 202,372 ​ 2,934,734 3,071,659
Schedule of fair value hierarchy level	The following is the balance of other financial assets by fair value hierarchy level as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ 2021 2020 Level 1 834,057 5,273 Level 2 1,139,457 3,062,995 ​ 1,973,514 3,068,268
Other financial assets [Member]
Other financial assets [Line Items]
Schedule of other financial assets measured at fair value through profit or loss	The following table reflects the credit quality of the issuers of other financial assets: ​ ​ ​ ​ ​ ​ 2021 2020 AAA ​ 1,158,794 ​ 353,939 BB+ ​ 954,212 ​ — F1+ ​ 319,253 ​ 551,626 B ​ 158,814 ​ — A-1 ​ 119,461 ​ 1,107,777 BRC1+ ​ 75,068 ​ — A+ ​ 42,821 ​ 60,692 A ​ 12,204 ​ 21,179 F3 ​ 8,990 ​ — BB ​ 7,412 ​ — BBB ​ 7,112 ​ — AA+ ​ 6,075 ​ 5,332 BBB- ​ — ​ 758,472 A-3 ​ — ​ 127,861 F1 — 43,839 AA- — 21,263 AA ​ — ​ 7,759 Other 64,518 11,920 ​ 2,934,734 3,071,659

Taxes (Tables)

Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Taxes
Schedule of current tax assets and tax liabilities and movements of deferred income tax	​ ​ ​ ​ ​ ​ ​ 2021 2020 Current tax assets Income tax (1) 1,739,542 1,823,027 Credit tax balance (2) 3,108,175 1,311,693 Other taxes (3) ​ 1,426,085 ​ 841,575 ​ 6,273,802 3,976,295 Non-current tax assets ​ ​ ​ ​ Deferred tax assets (4) ​ 9,024,858 ​ 7,673,912 Income tax credits (5) ​ 5,274 ​ 397,821 ​ ​ 9,030,132 ​ 8,071,733 ​ ​ ​ ​ ​ Current tax liabilities ​ ​ Income tax payable (6) 1,298,524 811,197 Industry and commerce tax ​ 247,966 ​ 161,813 National tax and surcharge on gasoline 192,665 137,710 Carbon tax 66,006 64,091 Value added tax (7) ​ 157,452 ​ 5,607 Other taxes (8) 189,491 63,465 ​ 2,152,104 1,243,883 ​ ​ ​ ​ ​ Non-current tax liabilities ​ ​ ​ ​ Deferred tax liabilities (9) ​ 10,850,463 ​ 1,639,206 Income tax payable - work for taxes (10) ​ 65,130 ​ 226,848 Other taxes (11) ​ 1,208,927 ​ — ​ ​ 12,124,520 ​ 1,866,054 (1) Given the payment for self-withholdings during the year, tax discounts like; taxes paid abroad, 50% of the industry and commerce paid, and VAT for the acquisition of real productive fixed assets, a favorable balance is generated for the term. (2) Corresponds mainly to the Ecopetrol´s tax credit value added tax (VAT). (3) Includes the VAT credit derived from the acquisition of real productive fixed assets, following Article 258-1 of the Colombian Tax Code and municipal advance payments and self-withholdings. (4) Corresponds mainly to the loans payable in dollar of Ecopetrol, that increased from 2020 due to the currency devaluation in 2021; also includes the new tax losses of the Refinería de Cartagena S.A.S. (“Reficar”) and Ecopetrol USA, among others. (5) Corresponds to the effective VAT credit paid on the acquisition of real productive fixed assets, which, given the limitations established by law, Ecopetrol could not use in income tax return of the fiscal year 2020 but in 2021. (6) The increase between the prior year, corresponds to the income increase obtained in 2021, due to higher prices and reactivation of the economy. (7) Corresponds mainly to the ISA´s value added tax (VAT). ISA has been part of the Ecopetrol Business Group since August 2021. (8) The variation corresponds mainly to the increase in royalties’ payments, transport tax, among others, due to the improved results in the fiscal year 2021. (9) The variation corresponds mainly to purchase price allocation adjustments related to the acquisition of ISA ($2,795,136) in addition to the consolidation of ISA’s own deferred taxes ($5,082,161). (10) Corresponds to projects that will be ending in 2022 and are reclassified .to the short term. (11) Corresponds mainly to the contributions payable by the ISA group of PIS, CONFIS of CTEEP and subsidiaries located in Brazil
Schedule of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Current income tax (1) 6,975,549 2,861,606 7,117,040 Deferred income tax (2) 1,939,567 (791,824) (2,365,108) Deferred income tax – rate change (3) ​ (28,993) ​ — ​ — Adjustments to prior years’ current and deferred tax(4) (90,860) (31,121) (33,519) Income tax expenses 8,795,263 2,038,661 4,718,413 (1) The variation mainly corresponds to the increase profits due to higher prices and the reactivation of the economy in fiscal year 2021. In 2020 Ecopetrol, calculated income tax under the presumptive income tax method (2) The variation mainly corresponds to the deferred tax asset on fiscal year 2020 tax losses and presumptive income tax of Ecopetrol ($1,266,293), the effect of the exchange rate on loans denominated in foreign currencies, the recognition of the deferred tax asset on excess presumptive income tax of Refinería de Cartagena S.A.S. ($180,562) and the effect of ISA acquisition ($352,906). (3) Corresponds to the effect of the Law 2155 of 2021, which increased the income tax rate from 30% to 35% for 2022 and following years. (4) Corresponds to the difference between the provision and the tax return for fiscal year 2020 filed in 2021, and the effect of the deferred tax not calculated over the tax refund certificates (CERT acronymous in Spanish) in Ecopetrol, among others.
Schedule of Reconciliation of the income tax expenses	The reconciliation between the income tax expense and the current tax applicable to the Ecopetrol Business Group in Colombia is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Net income before income tax 26,425,817 4,776,514 19,723,568 ​ Statutory rate 31.0 % 32.0 % 33.0 % Income tax at statutory rate 8,192,003 1,528,484 6,508,777 ​ Effective tax rate reconciliation items: ​ ​ ​ ​ Non–deductible expenses 1,581,472 277,007 295,550 ​ Reversal of deferred tax recognized in prior years ​ — ​ 245,508 ​ — ​ Rate differential adjustment ​ (304,176) ​ 14,974 ​ 132,888 ​ Impairment of non–current assets — — 57,646 ​ Variation in equity accounting method in Invercolsa — — (2,943) ​ Non–taxable income ​ (517,483) ​ (35,471) ​ (524,658) ​ Prior years’ taxes (90,860) (31,121) (33,519) ​ Foreign currency translation and exchange difference (149,035) 59,852 (54,319) ​ Tax discounts and tax credit (173,154) (20,572) (110,857) ​ Ecopetrol U.S.A. adjustment income tax — — (1,550,152) ​ Others ​ 285,489 ​ — ​ — ​ Effect of tax reform (28,993) — — ​ Income tax calculated 8,795,263 2,038,661 4,718,413 ​ Effective tax rate ​ 33.3 % 42.7 % 23.9 % Current 6,940,660 2,583,832 7,127,492 ​ Deferred 1,854,603 (545,171) (2,409,079) ​ ​ 8,795,263 2,038,661 4,718,413 ​
Schedule of deferred income tax	​ ​ ​ ​ ​ ​ ​ 2021 2020 Deferred tax assets 9,024,858 7,673,912 Deferred tax liabilities (10,850,463) (1,639,206) Net deferred income tax (1,825,605) 6,034,706
Schedule of deferred income tax assets and liabilities	The detail of deferred tax assets and liabilities is as follows: ​ ​ ​ ​ ​ ​ 2021 2020 Deferred tax assets (liabilities) Loss carry forwards (1) 4,399,754 4,478,606 Provisions (2) 4,029,550 3,187,850 Employee benefits (3) 1,378,161 1,874,242 Accounts payable 13,774 (10,626) Loans and borrowings (4) ​ 2,735,340 ​ 846,019 Accounts receivable – customers and concessions (5) (4,029,534) 183,843 Presumptive income tax excesses (6) 180,563 61,722 Other (7) ​ (1,327,524) ​ 47,269 Goodwill (8) (780,193) (366,346) Property plant and equipment and Natural and environmental resources (9) (8,425,496) (4,267,873) ​ (1,825,605) 6,034,706 (1) In 2021, a deferred tax asset for tax losses carryforwards was recognized in the following companies: - Ecopetrol USA Inc.: losses that expires imasn 20 years (COP$1,591,781) and losses that do not expire (COP$765,914) - Refinería de Cartagena: losses that do not expire (COP$2,027,433) and - Invercolsa: losses that expires in 12 years (COP$14,626). (2) Corresponds to non-deductible accounting provisions, mainly the asset retirement obligation (ARO) provision and asset restoration obligation in Ecopetrol USA. (3) Corresponds to update of the actuarial calculations for health, pensions and bonds, education, and other long-term benefits to employees. (4) Corresponds mainly to the effect in the foreign change (16%) in the fiscal year 2021. (5) It includes mainly the deferred tax related to foreign concessions to be received from foreign grantors of ISA (COP$4,118,455). (6) Corresponds mainly to the effect by recognized deferred tax assets in Refinería de Cartagena (COP$180,563) (7) Mainly related to the effect of business combination Ecopetrol – ISA in intangibles (COP$-997,516) and exploration costs, others, and partnership interest in Ecopetrol USA (COP$28,029, COP$109,156 and COP$- 469,499 ). (8) According to Colombian tax law until the fiscal year 2016, goodwill was subject to amortization for fiscal proposes, while under IFRS it is only allowed to be subject to impairment tests, a difference that results in a deferred tax liability. (9) Relates to deferred taxes on differences between book and tax depreciation and amortization rates, natural and environmental resources, intangibles, and property, plant and equipment have a useful life and a methodology for calculating depreciation and amortization different from those determined under the international accounting standards. This item includes the amount of the capital gains of 10% tax rate applicable to the lands and 35% tax rate for the other fixed assets. It mainly includes the deferred tax related to the business combination ISA (COP$-1,756,893), natural and environmental resources in Ecopetrol (COP$-2,991,429) and Property plant and equipment in Ocensa (COP$-1,141,923), ISA (COP$-500,314), and Refinería de Cartagena (COP$-935,983).
Schedule of deferred tax	Deferred tax details are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss ​ ​ ​ ​ ​ ​ ​ ​ Excess ​ carry ​ ​ ​ Employee Accounts ​ Loans and ​ presumptive ​ forwards Provisions benefits payable ​ borrowings income As of December 31, 2018 ​ 1,002,062 ​ 1,994,762 ​ 1,161,860 ​ 365,646 ​ 827,452 ​ (37,638) Profit or loss ​ 1,548,754 ​ 409,270 ​ (57,343) ​ 345,857 ​ 92,751 ​ 335,911 OCI ​ — ​ — ​ 771,355 ​ — ​ — ​ — As of December 31, 2019 2,550,816 2,404,032 1,875,872 711,503 ​ 920,203 298,273 Profit or loss 1,927,790 783,818 39,608 (722,129) ​ (74,184) (236,551) OCI — — (41,238) — ​ — — As of December 31, 2020 4,478,606 3,187,850 1,874,242 (10,626) ​ 846,019 61,722 Profit or loss (78,852) ​ 841,700 ​ 183,429 ​ 24,400 ​ 2,539,369 ​ 118,841 Increase due to business combinations (ISA acquisition – Note 12) ​ — ​ — ​ — ​ — ​ (650,048) ​ — OCI — ​ — ​ (679,510) ​ — ​ — ​ — As of December 31, 2021 4,399,754 4,029,550 1,378,161 13,774 ​ 2,735,340 180,563 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ PPE and ​ ​ ​ ​ ​ ​ ​ Natural ​ ​ ​ Accounts ​ ​ ​ ​ resources Goodwill receivable Others Total As of December 31, 2018 ​ (2,304,140) ​ (404,394) ​ 79,591 ​ (143,717) ​ 2,541,484 Profit or loss ​ (736,296) ​ 40,426 ​ 59,819 ​ 369,930 ​ 2,409,079 OCI ​ — ​ — ​ — ​ (114,520) ​ 656,835 Increase in shareholding in Invercolsa ​ — ​ — ​ — ​ (98,005) ​ (98,005) Foreign currency translation ​ — ​ — ​ — ​ (28,877) ​ (28,877) As of December 31, 2019 (3,040,436) (363,968) 139,410 (15,189) 5,480,516 Profit or loss (844,091) (2,378) 44,433 12,201 928,517 OCI — — — 130,764 89,526 Increase due to business combinations (Guajira association) ​ (383,346) ​ — ​ — ​ — ​ (383,346) Foreign currency translation ​ — ​ — ​ — ​ (80,507) ​ (80,507) As of December 31. 2020 (4,267,873) (366,346) 183,843 47,269 6,034,706 Profit or loss (366,273) (39,627) (94,922) (4,982,668) (1,854,603) Increase due to business combinations (ISA acquisition- Note 12) (3,791,350) (374,220) (4,118,455) 1,056,776 (7,877,297) Deferred tax recognized on ISA dividends (Note 12) ​ — ​ — ​ — ​ (35,033) ​ (35,033) OCI — — — 2,214,661 1,535,151 Foreign currency translation ​ — ​ — ​ — ​ 371,471 ​ 371,471 As of December 31, 2021 (8,425,496) (780,193) (4,029,534) (1,327,524) (1,825,605)
Schedule of movements of deferred income tax	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Opening balance 6,034,706 5,480,516 2,541,484 Deferred tax recognized in profit or loss (1,854,603) 928,517 2,409,079 Increase due to business combination ​ (7,877,297) ​ (383,346) ​ (98,005) Deferred tax recognized in other comprehensive income (a) 1,535,151 89,526 656,835 ISA Differed tax Dividends ​ (35,033) ​ — ​ — Foreign currency translation ​ 371,471 ​ (80,507) ​ (28,877) Closing balance (1,825,605) 6,034,706 5,480,516 (a)
Schedule of income tax recorded in other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ December 31. 2021 Pre–tax Deferred tax After tax Actuarial valuation gains (losses) (Note 22.1) (2,456,667) 679,510 (1,777,157) Cash flow hedging for future crude oil exports (Note 30.3) ​ 1,259,269 ​ (450,492) ​ 808,777 Hedge of a net investment in a foreign operation (Note 30.4) ​ 4,579,758 ​ (1,708,348) ​ 2,871,410 Hedge with derivative instruments 191,487 (55,821) 135,666 ​ 3,573,847 (1,535,151) 2,038,696 ​ ​ ​ ​ ​ ​ ​ ​ December 31. 2020 Pre–tax Deferred tax After tax Actuarial valuation gains (losses) (Note 22.1) (137,459) 41,238 (96,221) Cash flow hedging for future crude oil exports (Note 30.3) ​ (1,186) ​ 1,908 ​ 722 Hedge of a net investment in a foreign operation (Note 30.4) ​ 520,490 ​ (156,147) ​ 364,343 Hedge with derivative instruments (78,547) 23,475 (55,072) ​ 303,298 (89,526) 213,772 ​ ​ ​ ​ ​ ​ ​ ​ December 31. 2019 Pre-tax Deferred tax After tax Actuarial valuation gains (losses) (Note 22.1) 2,571,184 (771,355) ​ 1,799,829 Cash flow hedging for future crude oil exports (Note 30.3) ​ (356,339) ​ 118,008 ​ (238,331) Hedge of a net investment in a foreign operation (Note 30.4) 87,524 ​ (26,257) ​ 61,267 Hedge with derivatives instruments (69,220) 22,769 ​ (46,451) ​ 2,233,149 (656,835) ​ 1,576,314

Other assets (Tables)

Other assets (Tables)	12 Months Ended
	Dec. 31, 2021
Other assets
Schedule of other assets	​ ​ ​ ​ ​ ​ ​ 2021 2020 Current Partners in joint operations (1) 639,199 534,145 Advanced payments to contractors and suppliers 591,990 503,698 Prepaid expenses 549,456 369,979 Trust funds (2) ​ 527,520 ​ 218,158 Related parties (Note 31) 1,386 7,093 Other assets 23,540 30,963 ​ 2,333,091 1,664,036 Non–current ​ ​ Abandonment and pension funds (3) 461,729 405,376 Employee benefits 229,969 221,658 Trust funds (2) 176,781 338,067 Advanced payments and deposits 92,815 54,392 Judicial deposits and attachments 48,845 42,672 Other assets (4) 188,224 27,949 ​ 1,198,363 1,090,114 (1) Corresponds to the net amount 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 (ANH), as well as through association contracts and other types of contracts. (2) Mainly includes the resources invested in trust fund destined to “works for taxes”, mechanism of payment of the income tax of 2019 and 2020, constituted in compliance with article 238 of Law 1819 of 2016 - Tax reform. (3) Mainly corresponds to Ecopetrol’s share in trusts funds 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) Increase due to the consolidation of ISA Group. This concept includes advances to suppliers and other non-current assets.

Business combinations (Tables)

Business combinations (Tables)	12 Months Ended
	Dec. 31, 2021
Business combinations
Summary of the amounts recognised for the assets acquired and the liabilities assumed at the date of acquisition	​ ​ ​ ​ ​ Fair Value Assets Cash and cash equivalents 4,983,234 Accounts receivable 27,487,774 Inventories 120,300 Other financial assets 1,093,941 Current tax assets 477,504 Other assets 682,445 Investments in subsidiaries and joint ventures (Note 13) (1) 5,014,749 Properties, plant, and equipment (Note 14) (2) 17,640,458 Right of use assets (Note 16) (3) 230,207 Intangibles (Note 17) (4) 14,326,479 Deferred tax assets (Note 10.2) ​ 2,075,849 Total assets ​ 74,132,940 Liabilities ​ ​ Loans (Note 20) ​ 27,203,432 Leases (Note 16) (3) ​ 255,503 Accounts payable ​ 1,358,692 Employee Benefits ​ 973,210 Tax liabilities ​ 1,897,786 Provisions and contingencies (Note 23) (5) ​ 947,883 Other liabilities ​ 1,708,349 Deferred tax liabilities (Note 10.2) ​ 9,953,146 Total liabilities ​ 44,298,001 Total identifiable net assets ​ 29,834,939 ​ ​ Non-controlling interest (6) (18,973,080) Goodwill derived from the acquisition (7) 3,038,977 Consideration transferred (8) 13,900,836 1. The details of the fair values on the date of acquisition in associates and joint ventures are as follows: ​ ​ ​ ​ Company Fair Value Joint Ventures ​ ​ Transmissora Aliança de Energia Elétrica S.A. 1,496,926 Interligação Elétrica do Madeira S.A. 1,446,019 Interligação Elétrica Paraguaçu S.A. 396,753 Interligação Elétrica Garanhuns S.A. 365,533 Interligação Elétrica Aimorés S.A. 269,484 Interligação Elétrica Ivaí S.A. 249,539 Interconexión Eléctrica Colombia Panamá S.A. 6,412 Derivex S.A. 489 Parques de Rio 96 Interconexión Eléctrica Colombia Panamá S.A.S E.S.P. 4 ​ 4,231,255 Associated ATP Tower Holdings 783,494 ​ 783,494 Total investments in joint ventures and associated companies 5,014,749 ​ The fair value of the associates and joint ventures adjustment was $1,281,598 and was determined by the methodologies of discounted cash flows, market value and market multiples. The companies Interligação Elétrica Garanhuns S.A., Interligação Elétrica do Madeira S.A., Interligação Elétrica Ivaí S.A, Interligação Elétrica Aimorés S.A. and Interligação Elétrica Paraguaçu S.A. were valued by discounted cash flows, Transmissora Aliança de Energia Elétrica (TAESA) was valued at market value and the other joint and associated businesses were valued by market multiples. The fair value adjustment of associates and joint ventures totaled $1,281,598, of which $558,659 relates to Transmissora Aliança de Energia Elétrica S.A. (TAESA) and $367,659 relates to ATP. The key assumptions for TAESA’s valuation were the number of shares held by ISA, the share market price and the exchange rate; whereas for ATP’s valuation were: the Price to Book value multiple for telecommunication comparable companies and ATP’s equity book value. The remaining other companies were valued by discounted cash flows. 2. The fair value adjustment of the property, plant and equipment amounts to $5,233,557. The methodologies used to estimate the fair value of the property, plant and equipment and the transmission line easements were the replacement cost and market value estimate through quotations of similar assets. The key assumptions used to estimate the fair value of those assets were: replacement value of fixed assets, market quotations, and the assets useful lives. 3. Ecopetrol measured the acquired lease liabilities by discounting the future lease payments for the remaining lease terms using the Ecopetrol Business Group incremental borrowing rate at the date of acquisition. Right-of-use assets were measured at an amount equal to lease liabilities. 4. The fair value adjustment of intangible assets with contractual rights was $4,596,134 and were valued by the Multi – period Excess Earnings Method (MEEM) methodology, including the contractual rights’ fair value’s estimates were calculated based on the contractual revenues and the adjusted operational margin of each intangible. The projected operational profit was deducted by the corresponding income tax rate applicable in the jurisdiction, and the estimated contributory asset charges. The projected excess earning was discounted to present value using the entities’ discount rate (WACC, which included an intangible asset premium). 5. The fair value adjustment of contingent liabilities which are defined as present obligations that arise from past events and their fair value can be measured reliably was $225,983 and it was determined based on the advice of its legal advisors based on the expected likely outcome of the disputes. 6. The non-controlling interest fair value adjustment was measured based on the proportionate share in the recognized amounts of the acquiree’s identifiable net assets. It has two main components: (i) the non-controlling interest fair value adjustment in ISA’s subsidiaries, mainly ISA CTEEP, ISA REP, and Consorcio Transmantaro ($ 890,575); and (ii) the non-controlling interest from Ecopetrol in ISA ($ 10,265,482). The former corresponds mainly to the fair adjustment of the non-controlling shares in the following subsidiaries of ISA: ISA CTEEP, ISA REP and Consorcio Transmantaro. The later corresponds to the fair value of 48.59% of the equity attributable to ISA’s non-controlling shareholders, which was not acquired by Ecopetrol. 7. Goodwill from the acquisition was allocated to the Electric Power Transmission and Toll Roads Concessions Segment. Goodwill represents the future profitability of the businesses and potential upsides such as the possibility to expand some of the existing businesses, management’s know-how to identify new business opportunities and to finance them. Recognized Goodwill is not deducted for tax purposes in Colombia. 8. The consideration transferred corresponds to the payment made to the former controlling shareholder of ISA, reduced by the dividends received at the time of closing the transaction.
Summary of investments in associates measured at fair value on the date of acquisition	​ ​ ​ ​ Company Fair Value Joint Ventures ​ ​ Transmissora Aliança de Energia Elétrica S.A. 1,496,926 Interligação Elétrica do Madeira S.A. 1,446,019 Interligação Elétrica Paraguaçu S.A. 396,753 Interligação Elétrica Garanhuns S.A. 365,533 Interligação Elétrica Aimorés S.A. 269,484 Interligação Elétrica Ivaí S.A. 249,539 Interconexión Eléctrica Colombia Panamá S.A. 6,412 Derivex S.A. 489 Parques de Rio 96 Interconexión Eléctrica Colombia Panamá S.A.S E.S.P. 4 ​ 4,231,255 Associated ATP Tower Holdings 783,494 ​ 783,494 Total investments in joint ventures and associated companies 5,014,749
Schedule of cash flow of the acquisition	​ ​ ​ ​ Consideration paid in cash (14,236,814) Dividends received by Ecopetrol from ISA (1) 371,011 Consideration transferred (included in investment activities) (2) (13,865,803) Cash acquired with the business combination (included in investing activities) 4,983,234 Acquisition-related costs (3) (69,018) Costs related to the issuance of debt (included in financing activities) (Note 20) (42,699) Acquisition cash flow, net (8,994,286) (1) In December 2021, ISA paid dividends to Ecopetrol of $371,011, constituting a deferred tax of $35,033, which was offset from the consideration transferred to be transferred as per the provisions of the acquisition agreement. (2) For the consolidated cash flow purposes, the consideration transferred does not include deferred taxes on dividends ($35,033) given that it is a non-cash item . (3) Acquisition-related costs correspond to fees for legal and financial advice and commissions.

Investments in associates and_2

Investments in associates and joint ventures (Tables)	12 Months Ended
	Dec. 31, 2021
Investments in associates and joint ventures
Schedule of investment entities	​ ​ ​ ​ ​ ​ ​ 2021 2020 Joint ventures Equion Energía Limited 1,860,634 1,642,735 Transmissora Aliança de Energia Elétrica S.A. ​ 1,496,060 ​ — Interligação Elétrica do Madeira S.A. ​ 1,374,483 ​ — Interligação Elétrica Paraguaçu S.A. ​ 412,526 ​ — Interligação Elétrica Garanhuns S.A. ​ 363,498 ​ — Interligação Elétrica Ivaí S.A. ​ 288,224 ​ — Interligação Elétrica Aimorés S.A. ​ 278,408 ​ — Ecodiesel Colombia S.A. ​ 64,019 ​ 51,672 Interconexión Eléctrica Colombia Panamá S.A. ​ 8,737 ​ — Derivex S.A. ​ 448 ​ — Parques de Rio ​ 93 ​ — Interconexión Eléctrica Colombia Panamá S.A.S E.S.P. ​ 4 ​ — Offshore International Group (1) ​ — ​ 613,258 ​ 6,147,134 2,307,665 Less impairment: Equion Energía Limited (398,104) (314,460) Offshore International Group (1) — (609,826) ​ 5,749,030 1,383,379 Associates ​ Gases del Caribe S.A. E.S.P. 1,515,838 1,512,629 ATP Tower Holdings 813,697 — Gas Natural del Oriente S.A. E.S.P. 142,508 143,893 Gases de la Guajira S.A. E.S.P. ​ 69,461 ​ 69,518 E2 Energía Eficiente S.A. E.S.P. ​ 35,062 ​ 35,614 Extrucol S.A. ​ 28,578 ​ 26,996 Serviport S.A. ​ 9,399 ​ 8,541 Sociedad Portuaria Olefinas ​ 3,012 ​ 2,599 ​ 2,617,555 1,799,790 Less impairment: Serviport S.A. (9,399) (8,541) ​ 2,608,156 1,791,249 ​ 8,357,186 3,174,628 (1) On January 19, 2021, through the signing of the Share Purchase Agreement with one of the subsidiaries of De Jong Capital LLC., in its capacity as buyer, Ecopetrol formalized the sale of all the shares in the company Offshore International Group (OIG), in which it had a participation equivalent to 50%. This operation generated the following impacts on the results of the period: profit from the sale of assets for $4,923 and the realization of other comprehensive income for $361,728.
Schedule of movement of investments in associates and joint ventures	The following is the movement of investments in associates and joint ventures: For the year ended December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Opening balance 1,791,249 1,383,379 3,174,628 Capitalization ​ — ​ 44,735 ​ 44,735 Business combination (Note 12) ​ 783,494 ​ 4,231,255 ​ 5,014,749 Effects of equity method through: ​ ​ ​ Profit or loss 193,367 232,797 426,164 Other comprehensive income 12,142 121,856 133,998 Dividends declared (1) (171,238) (177,870) (349,108) Impairment (Note 18) ​ (858) ​ (83,644) ​ (84,502) Foreign currency translation — (3,478) (3,478) Closing balance 2,608,156 5,749,030 8,357,186 (1) During 2021, the Group received dividends of $206,048 from Ecodiesel, Transmissora Aliança de Energia Elétrica S.A., Interligação Elétrica do Madeira S.A., Gas Natural del Oriente S.A. E.S.P, Gases del Caribe S.A. E.S.P., Extrucol S.A., Gases de la Guajira S.A. E.S.P. and Efficient Energy S.A. E.S.P. For the year ended December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Opening balance 1,826,757 1,418,315 3,245,072 Effects of equity method through: ​ ​ ​ Profit or loss 114,779 (38,443) 76,336 Other comprehensive income (2,923) — (2,923) Dividends declared (1) (148,665) (9,017) (157,682) Impairment reversal (loss) (Note 18) 2,529 ​ (69,041) ​ (66,512) Foreign currency translation ​ (1,228) 81,565 80,337 Closing balance 1,791,249 1,383,379 3,174,628 (1) During 2020, the Group received dividends of COP$157,241 (2019 - COP$189,169) from its investments. For the year ended December 31, 2019: ​ ​ ​ ​ ​ ​ ​ ​ Associates Joint ventures Total Opening balance 244,662 1,599,674 1,844,336 Effects of equity method through: ​ ​ ​ ​ ​ Profit or loss 109,538 257,366 366,904 Other comprehensive income (174,991) 4,531 (170,460) Dividends declared (75,674) (4,192) (79,866) Impairment reversal (loss) (Note 18) 142 (318,962) (318,820) Foreign currency translation and other movements (1) ​ 1,723,080 ​ (120,102) ​ 1,602,978 Closing balance 1,826,757 1,418,315 3,245,072 (1) Invercolsa S.A. became a subsidiary as of November 29, 2019, thus the direct investments of Invercolsa in Gases del Caribe S.A. E.S.P., Gas Natural del Oriente S.A. E.S.P., Gases de la Guajira S.A. E.S.P., Extrucol S.A., E2 Energía Eficiente S.A. E.S.P., became direct investments of the Group as of the consolidation.
Schedule of breakdown of assets, liabilities and results of two investements	The following is the detail of assets, liabilities, and results of the main investments in associates and joint ventures, as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ Interligação ​ Transmissora ​ Equion ​ Equion ​ Offshore ​ ​ Elétrica do ​ Aliança de ​ Energía ​ Energía ​ International ​ Madeira Energia Elétrica ​ Limited Limited Group Statement of financial position ​ ​ Current assets 593,389 1,233,296 ​ 3,054,020 2,616,813 266,240 Non–current assets 4,432,664 8,985,539 ​ 3,850 13,538 1,302,555 Total assets 5,026,053 10,218,835 ​ 3,057,870 2,630,351 1,568,795 Current liabilities 325,049 711,592 ​ 62,157 81,259 154,086 Non–current liabilities 2,196,231 4,633,422 ​ 35,316 49,773 871,089 Total liabilities 2,521,280 5,345,014 ​ 97,473 131,032 1,025,175 Equity 2,504,773 4,873,821 ​ 2,960,397 2,499,319 543,620 Other complementary information ​ ​ ​ ​ ​ ​ Cash and cash equivalents 207,703 128,256 ​ 106,858 36,601 110,622 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 ​ ​ Interligação ​ Transmissora ​ Equion ​ Equion ​ Offshore ​ Equion ​ Offshore ​ ​ Elétrica do ​ Aliança de ​ Energía ​ Energía ​ International ​ Energía ​ International ​ Madeira Energia Elétrica ​ Limited Limited Group Limited Group Statement of profit or loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales revenue 639,356 2,953,672 ​ 63,169 257,066 325,812 1,285,891 529,167 Costs (18,021) (450,666) ​ (45,201) (127,672) (364,750) (671,179) (690,484) Other operating income (expenses), net — (117,526) ​ (8,553) 60,852 (234,597) (624) (64,115) Financial (expenses) income (129,094) (562,549) ​ 65,611 (1,090) (24,034) (3,660) (31,288) Income tax (expense) (112,574) (285,702) ​ (22,091) (45,137) 59,818 (214,048) 208,473 Financial year results 379,667 1,537,229 ​ 52,935 144,019 (237,751) 396,380 (48,247) Other comprehensive results — 15,599 ​ 1,632,400 1,223,990 — 1,102,757 — Other complementary information ​ ​ Depreciation and amortization 3,708 15,076 ​ 399 41,536 205,243 404,482 226,654
Schedule of reconciliation of equity of the significant investments and carrying amount of investments	This is a reconciliation of equity of the significant investments and the carrying amount of investments as of December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ ​ Interligação ​ Transmissora ​ Equion ​ Equion ​ Offshore ​ ​ Elétrica do ​ Aliança de ​ Energía ​ Energía ​ International ​ Madeira Energia Elétrica Limited ​ Limited Group Equity of the joint venture 2,504,773 4,873,821 2,960,397 ​ 2,499,319 543,620 ​ % of Ecopetrol’s ownership 51 % 14.88 % 51 % 51 % 50 % Ecopetrol’s ownership 1,277,434 725,185 1,509,802 ​ 1,274,654 271,811 ​ Additional value of the investment — 197,070 375,694 ​ 375,693 341,447 ​ Impairment — — (398,104) ​ (314,460) (609,826) ​ Unrealized gain ​ — ​ — ​ (24,862) ​ (7,612) ​ — ​ Carrying amount of the investment 1,277,434 922,255 1,462,530 ​ 1,328,275 3,432 ​

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property, plant, and equipment
Schedule of plant and equipment and depreciation and impairment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plant Pipelines, ​ ​ ​ ​ ​ ​ ​ and ​ networks ​ Work in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ equipment ​ and 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 1,958,132 1,657,967 1,854,907 434,438 4,965 207,179 6,117,588 Increase by business combination (Note 12) 184,303 14,860,422 1,521,181 557,224 395,828 121,500 17,640,458 (Decrease) increase in abandonment costs (Note 23) (182,172) (104,101) (1,673) (3,494) — 127 (291,313) Capitalized financial interests (1) ​ 53,740 ​ 29,435 ​ 29,209 ​ 12,491 ​ 160 ​ 6,129 ​ 131,164 Exchange differences capitalized 1,371 751 745 319 4 156 3,346 Disposals ​ (312,646) ​ (81,967) ​ (9,344) ​ (25,530) ​ (4,164) ​ (37,560) ​ (471,211) Foreign currency translation 4,946,012 1,646,079 164,778 204,496 257,988 120,110 7,339,463 Transfers/reclassifications (284,678) 252,353 (507,917) 67,814 32,690 (91,442) (531,180) Balance as of December 31, 2021 ​ 57,452,843 ​ 55,402,633 ​ 10,566,114 ​ 9,660,227 ​ 4,800,297 ​ 3,018,660 ​ 140,900,774 ​ 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 (2,420,045) (1,723,300) — (381,978) — (116,923) (4,642,246) Reversal (loss) of an impairment (Note 18) 24,888 (22,346) (312,009) 12,790 16,403 (858) (281,132) Disposals ​ 276,225 ​ 66,555 ​ 421 ​ 18,152 ​ 34 ​ 31,355 ​ 392,742 Foreign currency translation (1,726,218) (434,365) (1,550) (73,136) (5,500) (61,416) (2,302,185) Transfers/reclassifications 403,182 6,428 56,994 (6,357) — 2,447 462,694 Balance as of December 31, 2021 ​ (24,698,837) ​ (19,665,052) ​ (1,279,600) ​ (4,059,253) ​ (67,611) ​ (1,053,895) ​ (50,824,248) Net 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 Net balance as of December 31, 2021 32,754,006 35,737,581 9,286,514 5,600,974 4,732,686 1,964,765 90,076,526 (1) Financial interest is capitalized based on the weighted average rate of loan costs. See Note 20 – Loans and financing. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plant Pipelines, ​ ​ ​ ​ ​ ​ ​ and ​ networks ​ Work in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ equipment ​ and lines ​ progress ​ Buildings ​ Lands ​ Other ​ Total Cost Balance as of December 31, 2019 47,995,471 36,370,647 6,259,654 8,157,945 4,054,538 2,660,232 105,498,487 Additions/capitalizations (1) 1,625,316 1,179,602 1,573,469 390,731 18,705 244,494 5,032,317 Increase in abandonment costs (Note 23) 181,318 15,035 — 3,885 — 3,126 203,364 Capitalized financial interests (2) 42,052 31,511 38,756 14,965 753 8,324 136,361 Exchange differences capitalized 1,338 1,002 1,233 476 24 265 4,338 Disposals (491,677) (84,184) (79,077) (16,390) (10,155) (85,785) (767,268) Effect of control loss in subsidiaries (3) ​ (298,570) ​ (592,885) ​ (775) ​ (266,526) ​ (60,341) ​ (144,189) ​ (1,363,286) Adjustment on fair value for business combination (4) ​ 547,965 ​ 44,538 ​ — ​ 54,413 ​ — ​ 73,754 ​ 720,670 Foreign currency translation 1,336,351 478,103 19,804 59,107 73,181 29,876 1,996,422 Transfers /reclassifications 149,217 (301,675) (298,836) 13,863 36,121 (97,636) (498,946) 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 Accumulated depreciation and impairment losses Balance as of December 31, 2019 (19,035,642) (16,635,110) (1,114,366) (3,456,254) (80,682) (961,611) (41,283,665) Depreciation expense (2,296,176) (1,634,545) — (341,052) — (113,207) (4,384,980) (Loss) reversal of an impairment (Note 18) (368,754) 329,743 (327,751) (18,074) 8,799 (8,601) (384,638) Disposals 443,259 75,150 3,492 14,279 11 82,310 618,501 Effect of control loss in subsidiaries (3) ​ 266,825 ​ 403,095 ​ 262 ​ 221,708 ​ 30,669 ​ 108,081 ​ 1,030,640 Foreign currency translation (306,506) (155,927) 959 (13,707) 3,403 (9,738) (481,516) Transfers/reclassifications 40,125 59,570 413,948 (35,624) (40,748) (5,734) 431,537 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) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net balance as of December 31, 2019 28,959,829 19,735,537 5,145,288 4,701,691 3,973,856 1,698,621 64,214,822 Net 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 (1) Includes capitalizations for the acquisition of Guajira association by Hocol for a value of COP $361,426 . (2) Financial interests are capitalized based on the weighted average rate of borrowing costs. See Note 20 - Loans and borrowings. (3) See effects of control loss in subsidiaries in Note 28. (4) On November 22, 2019, Hocol S.A. – a 100% subsidiary of Ecopetrol Business Group – signed a Purchase Agreement and Sale of Assets with “Chevron” to acquire the entire stake owned by the latter in the Guajira Association ( 43% of the association contract) and its position as operator.

Natural and environmental res_2

Natural and environmental resources (Tables)	12 Months Ended
	Dec. 31, 2021
Natural and environmental resources
Schedule of detailed information about natural and environmental	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Oil ​ Asset retirement ​ 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) 4,032,780 60,618 2,639,630 6,733,028 Increase in abandonment costs (Note 23) — 778,925 13,256 792,181 Disposals (3,497) (484) (69,908) (73,889) Withdrawal of exploratory assets and dry wells (2) — — (486,408) (486,408) Capitalized financial interests (3) 99,786 — 24,757 124,543 Exchange differences capitalized 2,546 — 632 3,178 Foreign currency translation 1,979,171 101,866 767,117 2,848,154 Transfers/reclassifications 4,751,417 (78) (4,544,665) 206,674 Balance as of December 31, 2021 76,229,481 8,172,698 7,212,305 91,614,484 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depletion and impairment losses Balance as of December 31, 2020 (46,106,147) (2,981,449) (445,268) (49,532,864) Depletion expense (3,803,027) (1,193,454) — (4,996,481) Reversal of impairment (Note 18) 305,016 — 59,111 364,127 Disposals 500 — 31,214 31,714 Foreign currency translation (1,401,121) (41,610) — (1,442,731) Transfers/reclassifications (311,565) (14,161) 197,321 (128,405) Balance as of December 31, 2021 (51,316,344) (4,230,674) (157,622) (55,704,640) Net balance as of December 31, 2020 19,261,131 4,250,402 8,422,626 31,934,159 Net balance as of December 31, 2021 24,913,137 3,942,024 7,054,683 35,909,844 (1) Includes: a) Ecopetrol Permian for investments made in the drilling of wells and construction of facilities executed in RODEO, b) Ecopetrol for the Llanito, Purple Angel, Casabe and Offshore Tayrona fields. and c) Hocol mainly in Mamey 3, Pintado, Pozo Toldado, SN-8, Rc7 Pozo Basari, Ocelote, SSJN1, VIM8 and Saman. d) Ecopetrol America for Rydber and K2 e) Ecopetrol Brazil for the Gato do Mato project. (2) Mainly includes the Moyote well by Ecopetrol México, Ecopetrol S.A. mainly the Aguas Blancas, Alqamari-1, Nafta-1, Lorito Este 1, Boranda Centro 1 and Chimuelo 1 wells, Hocol Chacha 2 well, Ecopetrol América the well Silverback #1 and Silverback #2 and by Ecopetrol Brasil Ceará. Additionally, Hocol includes exploration expenses. (3) Financial interests are capitalized based on the weighted average rate of loan costs. See Note 20 – Loans and borrowings. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset Exploration ​ ​ ​ Oil ​ retirement ​ and ​ ​ ​ ​ investments ​ cost ​ evaluation ​ Total Cost Balance as of December 31, 2019 59,822,566 5,036,884 8,362,719 73,222,169 Additions/capitalizations (1) 3,659,270 123,446 2,211,746 5,994,462 Increase in abandonment costs (Note 23) — 2,075,992 28,097 2,104,089 Disposals (1,806) 260 (223,805) (225,351) Withdrawal of exploratory assets and dry wells (2) — — (448,132) (448,132) Capitalized financial interests (3) 111,140 — — 111,140 Exchange differences capitalized 3,535 — — 3,535 Adjustment at fair value for business combinations (4) ​ 563,546 ​ — — ​ 563,546 Foreign currency translation 440,978 23,353 (138,809) 325,522 Transfers/reclassifications 768,049 (28,084) (923,922) (183,957) Balance as of December 31, 2020 65,367,278 7,231,851 8,867,894 81,467,023 Accumulated depletion and impairment losses Balance as of December 31, 2019 (41,993,097) (2,156,274) — (44,149,371) Depletion expense (3,810,349) (831,909) — (4,642,258) Reversal (loss) of impairment (Note 18) 116,403 — (334,112) (217,709) Disposals 213 (40) 93,975 94,148 Foreign currency translation (310,894) (14,546) — (325,440) Transfers/reclassifications (108,423) 21,320 (205,131) (292,234) Balance as of December 31, 2020 (46,106,147) (2,981,449) (445,268) (49,532,864) Net balance as of December 31, 2019 17,829,469 2,880,610 8,362,719 29,072,798 Net balance as of December 31, 2020 19,261,131 4,250,402 8,422,626 31,934,159 (1) Includes capitalizations for the acquisition of Guajira association by Hocol for a value of COP $214,852 (See Note 2.2). (2) Includes dry wells: 1) Ecopetrol: Nafta 1, Caronte, Alqamari, Boranda Sur and Coyote; 2) Hocol: Obiwan and 3) Ecopetrol Brasil: a well of Saturno. Additionally, exploration costs of Ecopetrol America are included. (3) Financial interests are capitalized based on the weighted average rate of loan costs. See Note 20 – Loans and borrowings. (4) On November 22, 2019, Hocol S.A. – a 100% subsidiary of Ecopetrol Business Group – signed a Purchase Agreement and Sale of Assets with “Chevron” to acquire the entire stake owned by the latter in the Guajira Association ( 43% of the association contract) and its position as operator.
Schedule ofdetailed information about classification by age from completion date of suspended exploaratory wells	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Between 1 and 3 years (a) — — 361,700 Between 3 and 5 years (b) — 319,368 132,021 More than 5 years (c) 651,040 589,604 441,389 Total suspended exploratory wells 651,040 908,972 935,110 Number of projects exceeding 1 year 6 16 30 Wells under 1 year of suspension (d) 20,863 — — (a) As of December 2019, suspended exploratory wells correspond to Ecopetrol: Caronte, Purple Angel and Gorgon. (b) For 2020, the balance corresponds mainly to wells of Ecopetrol: Purple Angel and Gorgon. For 2019, the balance corresponds mainly to wells of Ecopetrol S.A.: Luna-1 and Gala 1K and discovery wells of Ecopetrol America Inc: Warrior 1. (c) Corresponds mainly to i) Ecopetrol S.A.: Orca 1, Purple Angel and Gordon, which are under evaluation. As of December 2021, the suspended exploratory wells of Offshore International Group are not included, considering that Ecopetrol formalized the sale of all the shares in the company Offshore International Group (Note 13). For 2020, the exploratory wells correspond mainly to i) Ecopetrol S.A.: Orca 1, Luna-1 and Gala 1K. For 2019, the balance corresponds mainly to Orca 1. (d) Corresponds to Hocol: Merecumbe 1 -SSJN1 as of December 2021 .

Right-of-use assets (Tables)

Right-of-use assets (Tables)	12 Months Ended
	Dec. 31, 2021
Right-of-use assets.
Schedule of right-of-use assets	The following is the movement of right-of-use assets for the years ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lands and Plant and ​ Right-of-use Lease ​ Pipelines buildings ​ equipment Vehicles ​ assets liabilities Balance as of December 31, 2020 — 93,472 133,939 150,475 377,886 1,055,198 Additions 22,871 22,190 10,037 20,319 75,417 75,417 Effect of business combinations (Note 12) ​ 75,836 ​ 121,042 ​ 13,779 ​ 19,550 ​ 230,207 ​ 255,503 Amortization of the period (6,897) (39,109) (61,186) (86,830) (194,022) — Remeasurements(1) — 26,057 48,803 5,045 79,905 80,068 Impairment loss — (5,802) (20,608) (5,373) (31,783) — Disposals — (14,540) — (98) (14,638) (64,726) Finance cost — — — — — 49,694 Repayment of borrowings and interests — — — — — (336,030) Transfers ​ (214) ​ (11,676) ​ (363) ​ (1,134) ​ (13,387) ​ 2,615 Exchange difference (14,577) 7,436 (3,017) (2,749) (12,907) 47,360 Balance as of December 31, 2021 77,019 199,070 121,384 99,205 496,678 1,165,099 (1) Corresponds mainly to updating rates and conditions in lease contracts. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Lands and Plant and ​ Right-of-use ​ Lease ​ buildings equipment ​ Vehicles assets ​ Subleases liabilities Balance as of December 31, 2019 218,513 97,264 ​ 140,448 ​ 456,225 ​ 29,436 ​ 1,290,954 Additions 41,303 14,618 ​ 32,582 ​ 88,503 ​ — ​ 88,503 Amortization of the period (52,200) (29,038) ​ (98,726) ​ (179,964) ​ — ​ — Remeasurements (1) (41,907) 33,686 ​ 69,255 ​ 61,034 ​ — ​ 76,799 Reversal of impairment ​ 312 ​ 29,718 ​ 5,844 ​ 35,874 ​ — ​ — Disposals (13,343) (4,321) ​ — ​ (17,664) ​ — ​ (28,916) Effect of control loss in subsidiaries (61,044) (7,432) ​ — ​ (68,476) ​ (29,436) ​ (102,671) Finance cost — — ​ — ​ — ​ — ​ 64,988 Repayment of borrowings and interests — — ​ — ​ — ​ — ​ (350,539) Exchange difference 1,838 (556) ​ 1,072 ​ 2,354 ​ — ​ 16,080 Balance as of December 31, 2020 93,472 133,939 ​ 150,475 ​ 377,886 ​ — ​ 1,055,198 (1) Corresponds mainly to updating rates and conditions in lease contracts.

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2021
Intangible assets
Schedule of intangibles and their amortization and impairment	The following is the movement of intangibles and their amortization and impairment for the years ended December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Licensees and Other Concessions ​ Easements ​ ​ ​ software ​ intangibles ​ and rights ​ (2) ​ Total Cost ​ ​ Balance as of December 31, 2020 835,030 201,463 351,108 ​ 79,176 1,466,777 Acquisitions 140,263 11,456 275,736 ​ 16,891 444,346 Effect of business combination (Note 12) (1) 130,634 666,455 11,910,589 ​ 1,618,801 ​ 14,326,479 Disposals ​ (21,581) ​ (226) ​ (402) ​ (79) ​ (22,288) Foreign currency translation 82,397 83,856 893,249 ​ 18,553 1,078,055 Transfers/reclassifications (47,932) (22,924) 73,161 ​ 37 2,342 Balance as of December 31, 2021 1,118,811 940,080 13,503,441 ​ 1,733,379 17,295,711 Accumulated amortization and impairment losses ​ ​ ​ ​ Balance as of December 31, 2020 (607,871) (67,299) (173,799) ​ (62,765) (911,734) Amortization of the period 123,796 (19,780) (427,989) ​ (3,200) (327,173) Losses for impairment ​ (57) ​ — ​ — ​ — ​ (57) Disposals 21,313 56 — ​ 41 21,410 Foreign currency translation (55,695) (66,333) (447,697) ​ — (569,725) Transfers/reclassifications (171,303) 64 171,360 ​ (37) 84 Balance as of December 31, 2021 (689,817) (153,292) (878,125) ​ (65,961) (1,787,195) Net balance as of December 31, 2020 227,159 134,164 177,309 ​ 16,411 555,043 Net balance as of December 31, 2021 428,994 786,788 12,625,316 ​ 1,667,418 ​ 15,508,516 (1) Corresponds to the balances recognized in the business combination, which mainly includes i) service concessions classified as intangible assets, according to IFRIC 12, in Peru, Bolivia, and Colombia, ii) rights to use infrastructure and intangible assets recognized through business combinations in Brazil and Peru, and iii) intangibles associated with economic benefits from contractual income. (2) Easements are acquired rights for the passage of its operating assets, mainly electric power transmission lines. These assets are acquired in perpetuity, so there is no set term or contractual limit, and the right is maintained over time. ​ ​ ​ ​ ​ ​ ​ ​ ​ Licenses and Other ​ ​ ​ software ​ intangibles ​ Total Cost Balance as of December 31, 2019 994,599 285,247 1,279,846 Acquisitions 43,817 46,265 90,082 Foreign currency translation 12,569 5,072 17,641 Effect of control loss in subsidiaries (Note 28) ​ (10,584) ​ — ​ (10,584) Disposals (5,430) — (5,430) Adjustment on fair value for business combination (Note 12) ​ 156 ​ — ​ 156 Transfers 30,892 64,174 95,066 Balance as of December 31, 2020 1,066,019 400,758 1,466,777 Accumulated amortization and impairment losses ​ Balance as of December 31, 2019 (692,217) (104,531) (796,748) Amortization of the period (93,907) (23,429) (117,336) Recovery -losses for impairment (Note 18) ​ (176) ​ 5 ​ (171) Disposals 5,558 11 5,569 Effect of control loss in subsidiaries (Note 28) ​ 9,877 ​ — ​ 9,877 Foreign currency translation (8,689) (65) (8,754) Transfers (2,116) (2,055) (4,171) Balance as of December 31, 2020 (781,670) (130,064) (911,734) Net balance as of December 31, 2019 302,382 180,716 483,098 Net balance as of December 31, 2020 284,349 270,694 555,043

Impairment of non-current ass_2

Impairment of non-current assets (Tables)	12 Months Ended
	Dec. 31, 2021
Impairment of non-current assets [Line Items]
Schedule of impairment (losses) or reversals	Based on the impairment tests conducted by the Ecopetrol Business Group, the following are the impairment or reversals for the years ended on December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ Impairment (loss) reversal by segment 2021 2020 2019 Exploration and Production 438,020 (192,693) (1,982,044) Refining and Petrochemicals (305,466) (781,528) 452,163 Transport and Logistics (165,901) 341,065 (232,556) Electric power transmission and toll roads concessions ​ (4) ​ - ​ - ​ (33,351) (633,156) (1,762,437) ​ ​ ​ ​ ​ ​ ​ Recognized in: ​ Property, plant, and equipment (Note 14) (281,132) (384,638) (373,123) Natural resources (Note 15) 364,127 (217,709) (1,017,061) Investment in joint ventures and associates (Note 13) (84,502) (66,512) (318,820) Right of use assets (Note 16) ​ (31,783) ​ 35,874 ​ (53,488) Other non-current assets (61) (171) 55 ​ (33,351) (633,156) (1,762,437)
Schedule of Refining and Petrochemical Segment	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Refinería de Cartagena 34,650 (440,525) 911,597 Bioenergy — — (234,340) Invercolsa S.A. (97) (3) — Refinería de Barrancabermeja (projects) (340,019) (341,000) (225,094) ​ ​ (305,466) ​ (781,528) ​ 452,163 ​ The following is the Cash Generating Units impairment or reversals in the refining and petrochemical segment for the years ended December 31, 2021, 2020 and 2019: ​ 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impairment ​ ​ Carrying Recoverable ​ reversal Cash–generating units amount amount (loss) Refinería de Cartagena 26,808,008 26,842,658 34,650 Invercolsa S.A. 292 195 (97) Refinería de Barrancabermeja (projects) 340,019 — (340,019) ​ ​ ​ ​ ​ (305,466) ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Recoverable Impairment Cash–generating units amount amount loss Refinería de Cartagena 24,041,174 23,600,649 (440,525) Invercolsa S.A. 276 273 (3) Refinería de Barrancabermeja (projects) 676,334 335,334 (341,000) ​ ​ ​ ​ ​ (781,528) ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Recoverable ​ Impairment Cash–generating units amount amount reversal (loss) Refinería de Cartagena 22,292,788 23,204,385 911,597 Bioenergy 575,331 340,991 (234,340) Refinería de Barrancabermeja (projects) 901,517 676,423 (225,094) ​ ​ ​ ​ ​ 452,163
Schedule of breakdown of oilfields impairment losses or reversals	The following is the breakdown of oilfields impairment losses or reversals for the years ended December 31, 2021, 2020 and 2019: 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Recoverable ​ Impairment Cash generating units amount amount reversal (loss) Oil fields in Colombia ​ ​ ​ ​ ​ ​ Reversal ​ 11,216,641 ​ 17,575,851 ​ 499,599 Loss 239,046 136,698 (104,041) Fields operated abroad Reversal 1,142,593 1,306,219 126,106 ​ ​ ​ ​ ​ 521,664 ​ 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Recoverable ​ Impairment Cash generating units ​ amount ​ amount ​ reversal (loss) Oil fields in Colombia Reversal 24,845,238 61,224,928 1,019,395 Loss 2,439,799 1,423,561 (1,016,238) Fields operated abroad Loss 1,277,609 1,150,800 (126,809) ​ ​ ​ ​ ​ (123,652) ​ 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Recoverable ​ Impairment Cash generating units ​ amount ​ amount ​ reversal (loss) Oil fields in Colombia Reversal 3,842,819 6,047,345 74,577 Loss 4,992,462 3,322,284 (1,673,258) Fields operated abroad ​ ​ ​ Reversal 200,910 539,785 4,391 Loss 68,792 — (68,792) ​ ​ ​ ​ ​ (1,663,082)
Investment in joint ventures (Note 12) [Member]
Impairment of non-current assets [Line Items]
Schedule of breakdown of oilfields impairment losses or reversals	As a result, Ecopetrol recognized an (impairment loss) or reversal of impairment on the carrying value as of December 31, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Equion Energía Limited (83,644) 7,928 (134,753) Offshore International Group — (76,969) (184,209) ​ (83,644) (69,041) (318,962)
Exploration and Production [Member]
Impairment of non-current assets [Line Items]
Schedule of breakdown of oilfields impairment losses or reversals	The impairment reversal of assets of the Exploration and Production segment for the years ended December 31 of 2021, 2020 and 2019 is the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Oilfields 521,664 (123,652) (1,663,082) Investment in joint ventures (83,644) (69,041) (318,962) ​ 438,020 ​ (192,693) (1,982,044)

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill
Schedule of goodwill in acquisitions of subsidiaries	​ ​ ​ ​ ​ ​ ​ 2021 2020 Interconexión Eléctrica S.A. E.S.P. ​ 3,092,045 ​ — Oleoducto Central S.A.S. 683,496 683,496 Hocol Petroleum Ltd. 537,598 537,598 Invercolsa S.A. ​ 434,357 ​ 434,357 Andean Chemical Ltd 127,812 127,812 Esenttia S.A. 108,137 108,137 ​ 4,983,445 1,891,400 Less impairment Hocol Petroleum Ltd. (297,121) (297,121) ​ 4,686,324 1,594,279 ​

Loans and borrowings (Tables)

Loans and borrowings (Tables)	12 Months Ended
	Dec. 31, 2021
Loans and borrowings
Schedule of composition of loans and borrowings	20.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average effective ​ ​ ​ ​ ​ ​ interest rate as of December 31 ​ 2021 ​ 2020 ​ 2021 2020 ​ ​ Local currency ​ ​ ​ ​ Bonds 9.1 % 6.4 % 4,941,024 1,084,461 Syndicated loan 5.4 % 5.6 % 600,452 811,079 Lease liabilities (1) ​ 6.3 % 6.6 % 823,922 ​ 836,489 Commercial loan ​ 7.8 % 6.3 % 1,516,377 ​ 312,408 ​ ​ ​ ​ ​ 7,881,775 3,044,437 Foreign currency Bonds (2) 5.7 % 6.0 % 66,603,695 33,944,548 Commercial loan (3) 3.5 % 3.6 % 18,750,580 8,247,014 Loans from related parties (Note 31) 0.3 % 0.8 % 1,483,701 1,277,046 Lease liabilities (1) 6.0 % 6.1 % 341,177 218,709 ​ ​ ​ ​ ​ 87,179,153 43,687,317 ​ ​ ​ ​ ​ 95,060,928 46,731,754 Current ​ ​ ​ 9,206,283 4,923,346 Non–current ​ ​ ​ 85,854,645 41,808,408 ​ ​ ​ ​ ​ 95,060,928 46,731,754 (1) Corresponds to present value of the payments to be made during the term of the operative lease contracts of pipelines, tanks, property, and vehicles, recognized by the implementation of IFRS 16 – Leases (See Note 16). (2) On October 27, public debt bonds were issued for USD $2,000 million, with maturity of 10 and 30 years , at coupon rates of 4.625% and 5.875% , respectively, to partially refinance the loan obtained for the acquisition of 51.4% of Interconexión Eléctrica S.A. (ISA). The movement of foreign currency bonds also corresponds to the increase in the exchange rate. (3) Corresponds mainly to the credit with international banks for the acquisition of ISA for USD $3,672 million (the equivalent value in pesos received corresponds to $14,190,267 ) subscribed between Ecopetrol and Banco Santander S.A., Citibank N.A., JPMorgan Chase Bank, N.A., and The Bank of Nova Scotia, each with a 25% participation. The main conditions of the financing are: (i) payment of 100% principal at maturity within a period of 2 years from the date of subscription of the contract; (ii) an interest rate of Libor USD (3M) + 80 basis points and (iii) an initial aggregate commission of 30 basis points. The Costs related to the issuance of debt correspond to $42,699 (Note 12).
Schedule of maturity of loans and borrowings	20.3 The following are the maturities of loans and borrowing as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ year (1) ​ 1 – 5 years 5-10 years > 10 years Total Local currency Bonds 290,858 1,152,829 1,423,909 2,073,428 4,941,024 Syndicated loan 239,597 360,855 — — 600,452 Lease liabilities ​ 188,477 ​ 340,283 ​ 283,070 ​ 12,092 ​ 823,922 Commercial loans 170,758 539,693 595,307 210,619 1,516,377 ​ 889,690 2,393,660 2,302,286 2,296,139 7,881,775 Foreign currency ​ ​ ​ ​ ​ Bonds 3,275,138 27,550,698 17,515,876 18,261,983 66,603,695 Commercial loans 3,457,708 14,792,560 303,012 197,300 18,750,580 Lease liabilities 100,046 205,617 35,514 — 341,177 Loans from related parties ​ 1,483,701 ​ — ​ — ​ — ​ 1,483,701 ​ 8,316,593 42,548,875 17,854,402 18,459,283 87,179,153 ​ 9,206,283 44,942,535 20,156,688 20,755,422 95,060,928 ​ (1) ​ The following are the maturities of loans and borrowing as of December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 ​ ​ ​ ​ ​ ​ ​ ​ ​ year (1) ​ 1 – 5 years 5–10 years > 10 years Total Local currency Bonds 65,829 354,081 370,900 293,651 1,084,461 Syndicated loan 242,660 568,419 — — 811,079 Lease liabilities ​ 167,059 ​ 418,938 ​ 211,233 ​ 39,259 ​ 836,489 Commercial loans 106,410 205,998 — — 312,408 ​ 581,958 1,547,436 582,133 332,910 3,044,437 Foreign currency ​ Bonds 1,905,325 14,692,852 12,109,859 5,236,512 33,944,548 Commercial loans 1,098,593 6,563,863 584,558 — 8,247,014 Loans from related parties ​ 1,277,046 — — — 1,277,046 Lease liabilities 60,424 ​ 149,381 ​ 8,904 ​ — ​ 218,709 ​ 4,341,388 21,406,096 12,703,321 5,236,512 43,687,317 ​ 4,923,346 22,953,532 13,285,454 5,569,422 46,731,754 (1) Includes short–term credit and the current portion of long–term debt, as applicable.
Schedule of Breakdown by type of interest rate and currency	20.4 Breakdown by type of interest rate and currency The following is the breakdown of loans and borrowing by type of interest rate as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Local currency Fixed rate 1,239,723 523,870 Floating rate 6,642,052 2,520,567 ​ 7,881,775 3,044,437 Foreign currency ​ ​ Fixed rate 69,427,014 38,706,328 Floating rate 17,752,139 4,980,989 ​ 87,179,153 43,687,317 ​ 95,060,928 46,731,754

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2021
Trade and other payables
Schedule of trade and other payables	​ ​ ​ ​ ​ ​ ​ 2021 2020 Current ​ ​ ​ ​ Suppliers 10,470,260 6,491,909 Partners’ advances 1,060,349 497,898 Withholding tax 717,720 462,429 Insurance and reinsurance 294,114 240,803 Deposits received from third parties (1) 136,310 84,436 Related parties (Note 31) 66,598 72,316 Dividends payable (2) ​ 58,668 ​ 223,571 Agreements in transport contracts (3) ​ 33,883 ​ 37,941 Hedging operations (4) 2,032 6,405 Various creditors (1) 728,297 331,333 ​ 13,568,231 8,449,041 ​ ​ ​ ​ ​ Non - current ​ ​ ​ ​ Suppliers ​ 8,260 ​ — Deposits received from third parties (1) 33 1,109 Various creditors (1) 62,314 19,955 ​ 70,607 21,064 (1) For presentation purposes, this note includes the current and non-current trade and other payables, for comparative years 2021-2020. (2) Corresponds to dividends declared to third parties by Intercoconexión Eléctrica S.A., Ecopetrol and Investments of Gases of Colombia S.A. (3) Corresponds to the value of the payables for agreements agreed in the transportation contracts for pipelines, calculated in volumetric quality compensation and other inventory management arrangements. (4) Corresponds to the balance payable for the liquidation of swap contracts acquired to hedge the price risk of export crude oil.

Provisions for employees' ben_2

Provisions for employees' benefits (Tables)	12 Months Ended
	Dec. 31, 2021
Provisions for employees' benefits
Schedule of provision balances for employee benefits	​ ​ ​ ​ ​ ​ ​ 2021 2020 Post–employment benefits Healthcare 6,636,809 7,193,527 Pension 2,159,530 2,819,985 Education 443,761 485,792 Bonds 320,833 342,669 Other plans 91,476 102,632 Termination benefits – Voluntary retirement plan (1) 746,585 713,407 ​ 10,398,994 11,658,012 Social benefits and salaries 856,198 674,080 Other employee benefits 123,853 91,575 ​ 11,379,045 12,423,667 Current 2,296,253 2,022,137 Non–current 9,082,792 10,401,530 ​ 11,379,045 12,423,667 (1) It includes the obligation for the new voluntary retirement plan, on which Ecopetrol made offers to a part of its workers during 2020, of which 94 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 net defined benefit liability (asset)	The following table shows the movement in liabilities and assets, net of post-employment benefits and termination benefits, as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and bonds (1) Other Total ​ 2021 2020 2021 2020 2021 2020 Liabilities for employee benefits Opening balance 16,320,383 15,916,472 8,510,594 7,593,171 24,830,977 23,509,643 Effect of business combination ​ 545,319 ​ — ​ 301,780 ​ — ​ 847,099 ​ — Current service cost 10,948 — 121,404 118,035 132,352 118,035 Past service cost (2) 3,545 — 125,783 631,761 129,328 631,761 Interest expense 867,644 882,785 485,494 439,682 1,353,138 1,322,467 Transferred benefits ​ — ​ — ​ (577) ​ — ​ (577) ​ — Actuarial (gains) losses (2,285,738) 418,187 (1,091,228) 87,311 (3,376,966) 505,498 Benefits paid (931,051) (897,061) (506,323) (359,366) (1,437,374) (1,256,427) Foreign currency translation ​ (10,458) ​ — ​ — ​ — ​ (10,458) ​ — Closing balance 14,520,592 16,320,383 7,946,927 8,510,594 22,467,519 24,830,977 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Plan assets ​ ​ ​ ​ ​ ​ Opening balance 13,157,729 12,709,838 15,236 3,015 13,172,965 12,712,853 Effect of business combination ​ — ​ — ​ 11,004 ​ — ​ 11,004 ​ — Return on assets 691,584 700,168 367 136 691,951 700,304 Contributions to funds — — 504,511 370,090 504,511 370,090 Benefits paid (924,924) (897,061) (502,340) (358,199) (1,427,264) (1,255,260) Actuarial (losses) gains (884,160) 644,784 (482) 194 (884,642) 644,978 Closing balance 12,040,229 13,157,729 28,296 15,236 12,068,525 13,172,965 Net post–employment benefits liability 2,480,363 3,162,654 7,918,631 8,495,358 10,398,994 11,658,012 (1) There is no cost for the pension and pension plans service since the beneficiaries were retired as of July 31, 2010 . (2) It includes the new voluntary retirement plan .
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 as of December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Recognized in profit or loss Interest expense. Net 658,476 622,163 537,893 Current service cost 104,246 118,035 76,478 Remeasurements (211) — 10,213 ​ 762,511 740,198 624,584 Recognized in other comprehensive income Pension and pension bonds (1) 1,401,578 226,597 (1,303,693) Healthcare (1) 991,050 (33,324) (1,268,379) Education and severance 63,222 (55,693) 922 Termination benefits – Voluntary retirement plan — (121) (34) Other movements ​ 817 ​ — ​ — ​ 2,456,667 137,459 (2,571,184) Deferred tax (679,510) (41,238) 771,355 ​ 1,777,157 96,221 (1,799,829) (1) For the year 2021, higher discount rates were applied in the actuarial calculation process, which generates a variation of other comprehensive income compared to the year 2020. The increase also includes the adding of Interconexión Eléctrica S.A. E.S.P. in consolidation process.
Schedule of fair value of plan assets	The following is the composition of the plan assets of pension and pension bonds by type of investment as of December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Bonds issued by the national government 2,758,728 4,958,612 Other local currency ​ 5,422,709 ​ 1,502,349 Bonds of private entities 2,393,322 3,177,531 Variable yield ​ 1,026,862 ​ 679,448 Other public bonds ​ 302,254 ​ 777,562 Other foreign currency 113,012 1,992,800 Bonds of foreign entities 51,638 84,663 ​ 12,068,525 13,172,965
Schedule of fair value hierarchy of plan assets	The following table reflects the credit ratings of the issuers and counterparties in assets held by the autonomous pension funds: ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ ​ ​ ​ AAA 7,183,658 4,369,805 Nación 2,871,610 5,102,222 AA+ 455,875 570,716 F1+ 112,284 61,192 BAA3 78,216 — AA 74,350 134,454 BBB+ 40,928 10,328 BBB- 39,865 458,273 BRC1+ 37,884 52,296 BAA1 18,855 — AA- 9,558 4,014 A 5,834 5,307 BBB — 201,163 A3 — 11,633 Others 47,348 297,048 Not available ratings 1,092,260 1,894,514 ​ 12,068,525 13,172,965
Schedule of analysis of present value of defined benefit obligation that distinguishes nature, characteristics and risks	The following are the actuarial assumptions used in determining the present value of defined employee benefit obligations used for the actuarial calculations as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 Pension Bonds Health Education Others (1) Discount rate (1) 5.18%-8.7 % 5.00%-6.25 % 7.00%-8.8 % 6.30%-8.9 % 5.56%-7.10 % Salary growth rate (1) 4.50 % N/A N/A 4.50 % 4.5%-4.7 % Expected inflation rate (1) 3.0%-4.0 % 3.00 % 3.00 % 3.00 % 3.00%-4.00 % Pension growth rate 3.0%-3.5 % N/A N/A N/A 3.50 % Cost trend ​ Short–term rate N/A N/A 6.67 % 4.00 % N/A ​ Long–term rate N/A N/A 4.00 % 4.00 % 4.70 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 Pension Bonds Health Education Others (1) Discount rate 5.50 % 4.75 % 6.00 % 5.00 % 4.09 % Salary growth rate N/A N/A N/A N/A 4.70 % Expected inflation rate 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % Pension growth rate 3.00 % N/A N/A N/A N/A ​ Cost trend ​ Short–term rate N/A N/A 6.67 % 4.00 % N/A ​ Long–term rate N/A N/A 4.00 % 4.00 % N/A ​ ​ N/A: Not applicable for this benefit. (1) Weighted average discount rate.
Schedule of maturity profile of defined benefit obligation	The cash flows required for payment of post–employment obligations of Ecopetrol and Cenit are the following: ​ ​ ​ ​ ​ ​ ​ ​ Period Pension and bonds Other benefits Total 2022 999,575 510,539 1,510,114 2023 1,027,226 525,620 1,552,846 2024 1,069,119 529,898 1,599,017 2025 1,076,416 531,384 1,607,800 2026 1,108,696 529,663 1,638,359 2027 and thereafter 5,714,448 2,666,746 8,381,194
Schedule of sensitivity analysis for actuarial assumptions	The following sensitivity analysis shows the effect of such possible changes on the obligation for defined benefits, while keeping the other assumptions constant, as of December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Bonds Health Education Other Discount rate –50 basis points 13,639,890 1,079,858 6,893,605 434,192 867,453 +50 basis points 12,320,218 1,014,678 6,019,242 398,399 836,192 Inflation rate ​ ​ ​ ​ ​ –50 basis points 12,265,258 1,013,016 N/A N/A 747,303 +50 basis points 13,692,090 1,080,136 N/A N/A 769,637 Salary growth rate ​ ​ ​ ​ –50 basis points N/A N/A N/A 2 89,570 +50 basis points N/A N/A N/A 2 96,968 Cost trend ​ ​ ​ ​ ​ –50 basis points N/A N/A 6,021,414 398,143 N/A +50 basis points N/A N/A 6,887,785 434,328 N/A

Accrued liabilities and provi_2

Accrued liabilities and provisions (Tables)	12 Months Ended
	Dec. 31, 2021
Accrued liabilities and provisions
Schedule of accrued liabilities and provisions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset ​ Environmental ​ ​ ​ retirement ​ ​ ​ contingencies and ​ ​ ​ ​ obligation ​ Litigation ​ others ​ Total Balance as of December 31, 2020 11,239,325 118,139 1,070,266 12,427,730 Increase in abandonment costs 500,868 — — 500,868 Effect of business combination (Note 12) ​ — ​ 329,123 ​ 618,760 ​ 947,883 Additions 242,435 261,785 210,619 714,839 Uses (548,133) (13,453) (334,922) (896,508) Financial costs 292,329 3,925 7,272 303,526 Foreign currency translation ​ 152,212 ​ 4,466 ​ 34,774 ​ 191,452 Transfers ​ 11,283 ​ (19) ​ 31,153 ​ 42,417 Balance as of December 31, 2021 11,890,319 703,966 1,637,922 14,232,207 Current 1,041,674 59,843 488,601 1,590,118 Non-current 10,848,645 644,123 1,149,321 12,642,089 ​ 11,890,319 703,966 1,637,922 14,232,207 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset ​ Environmental ​ ​ ​ retirement ​ ​ ​ contingencies and ​ ​ ​ ​ obligation ​ Litigation ​ others ​ Total Balance as of December 31, 2019 8,835,420 137,429 945,439 9,918,288 Increase in abandonment costs 2,307,453 — — 2,307,453 Additions 143,320 32,108 237,181 412,609 Uses (291,793) (31,709) (106,448) (429,950) Financial costs 258,464 — — 258,464 Effect of control loss in subsidiaries (Note 28) (23,874) (20,117) — (43,991) Adjustment on fair value for business combination 31,137 — — 31,137 Foreign currency translation 37,239 ​ 428 ​ 5,476 ​ 43,143 Transfers (58,041) ​ — ​ (11,382) ​ (69,423) Balance as of December 31, 2020 11,239,325 118,139 1,070,266 12,427,730 Current 949,638 46,844 224,627 1,221,109 Non-current ​ 10,289,687 71,295 845,639 11,206,621 ​ ​ 11,239,325 118,139 1,070,266 12,427,730 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Asset ​ Environmental ​ ​ ​ retirement ​ ​ ​ contingencies and ​ ​ ​ ​ obligation ​ Litigation ​ others ​ Total Balance as of December 31, 2018 6,719,275 127,945 906,792 7,754,012 Increase in abandonment costs 2,188,928 — — 2,188,928 Additions 112,486 58,913 90,854 262,253 Uses (410,191) (45,342) (59,755) (515,288) Financial costs 226,803 — 3 226,806 Foreign currency translation (5,240) 79 1,211 (3,950) Transfers 3,359 (4,166) 6,334 5,527 Balance as of December 31, 2019 8,835,420 137,429 945,439 9,918,288 Current 589,411 28,662 171,224 789,297 Non–current 8,246,009 108,767 774,215 9,128,991 ​ 8,835,420 137,429 945,439 9,918,288 ​
Schedule of litigations	​ ​ ​ ​ ​ ​ ​ 2021 2020 Damages to third parties due to hydrocarbon easement in a building near the Cartagena Refinery. 11,019 11,019 CTEEP Regulatory Contingency: Billing Eletrobras – RBNI Corresponds to the collection action filed by Eletrobras against ISA CTEEP requesting the return of the value charged in excess by the company as part of the payment of the compensation resulting from the extension of Concession Contract No. 059/2001 under Law No. 12,783/201, relating to NI facilities (new investments) that had been transferred to the company by Eletrobras. 27,993 — Second instance rulings unfavorable to the interests of Ecopetrol, related to public works contributions, for which they have a unified sentence and that could be subject to collection by the tax authority 203,160 —
Schedule of unrecorded contingent liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Number of ​ Number of ​ Type of process ​ processes ​ Proceedings ​ processes ​ Proceedings Constitutional 86 1,336,966 254 15,810,766 Ordinary administrative 146 1,867,591 158 726,557 Labor 788 87,175 674 57,136 Civil 58 13,148 55 6,363 Penal 1 — 2 595 ​ 1,079 3,304,880 1,143 16,601,417
Schedule of contingent assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ Number of ​ Number of ​ Type of process ​ processes ​ Proceedings ​ processes ​ Proceedings Ordinary administrative 62 217,550 109 404,830 Arbitration 1 78,600 2 138,386 Civil 188 23,258 171 87,871 Penal 72 55,385 149 61,466 Labor 185 4,714 132 3,555 Constitutional 4 — 5 — ​ 512 379,507 568 696,108

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Equity
Schedule of composition of the ecopetrol business group's reserves	The following is the composition of the Ecopetrol Business Group’s reserves as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Legal reserve 4,737,788 4,568,980 Fiscal and statutory reserves 509,082 509,082 Occasional reserves 5,377,359 4,557,074 ​ 10,624,229 9,635,136 ​
Schedule of balance of movement of equity reserves	The movement of equity reserves is the following for the years ended December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Opening balance 9,635,136 3,784,658 Release of reserves (5,066,156) (540,826) Allocation to 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 income attributable to the shareholders of the parent, Ecopetrol, net of tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Foreign currency translation (1) 17,244,686 11,794,201 10,265,398 Cash flow hedge with derivative instruments (60,916) 44,132 3,689 Cash flow hedges for future exports (945,247) (136,470) (135,748) Actuarial gain on defined benefit plans ​ (517,278) ​ (2,260,989) ​ (2,357,210) Hedge of a net investment in a foreign operation (4,364,465) (1,494,926) (1,130,583) Others 1,114 1,114 1,114 ​ 11,357,894 7,947,062 6,646,660 (1) Includes the realization of other comprehensive income for $361,728 from the sale of the shares in the company Offshore International Group (OIG).
Schedule of earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Profit attributable to Ecopetrol’s shareholders ​ 15,649,143 ​ 1,586,677 ​ 13,744,011 Weighted average number of outstanding shares ​ 41,116,694,690 ​ 41,116,694,690 ​ 41,116,694,690 Net basic and diluted earnings per share (Colombian pesos) ​ COP$ 380.60 ​ COP$ 38.59 ​ COP$ 334.27

Revenue from contracts with c_2

Revenue from contracts with customers (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue from contracts with customers
Schedule of detailed information of revenue from contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 National sales Mid–distillates (1) 17,140,327 8,860,588 15,041,883 Gasoline and turbo fuels (1) 15,475,370 6,768,046 9,658,180 Natural gas 3,200,069 2,845,155 2,256,123 Services 3,065,988 2,859,559 4,115,626 Plastic and rubber 1,642,035 865,204 834,133 LPG and propane 926,231 375,775 372,916 Fuel gas service 734,666 671,570 72,249 Electric power transmission services (2) 728,467 — — Asphalts 611,051 526,100 544,200 Polyethylene 320,466 138,035 192,436 Aromatics 247,387 155,740 228,552 Crude oil ​ 193,476 ​ 230,520 ​ 356,857 Roads and Construction Services (2) ​ 107,179 ​ — ​ — Fuel oil 23,799 37,001 97,907 Other income gas contracts ​ 2,879 ​ 32,190 ​ 102,845 Other products 402,828 322,232 431,201 Cash flow hedges (3) (8) — — ​ 44,822,210 24,687,715 34,305,108 Foreign sales Crude oil 34,868,421 20,086,173 28,521,993 Diesel 3,867,937 3,164,068 4,391,798 Fuel oil 2,288,977 1,044,811 1,870,929 Plastic and rubber 2,092,379 1,302,131 1,249,189 Electric power transmission services (2) 1,827,622 — — Roads and Construction Services (2) 1,241,144 — — LPG and propane 116,960 18,943 13,591 Natural gas 71,529 17,231 27,255 Gasoline and turbo fuels ​ — ​ 179,257 ​ 1,085,392 Other products ​ 1,033,909 ​ 580,411 ​ 408,427 Cash flow hedges (3) (349,884) (857,347) (385,170) ​ 47,058,994 25,535,678 37,183,404 ​ 91,881,204 50,223,393 71,488,512 (1) Corresponds 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). As of December 31, 2021, the value recognized by price differential corresponds to $11,335,453 (2020 $142,723 ; 2019 $1,785,277 ). See Note 4.17 – Revenue from contracts with customers. (2) Corresponds to the revenue related to the electric power transmission contracts and toll roads concessions of Interconexión Eléctrica S.A. E.S.P. See Note 4.17 – Revenue from contracts with customers. (3) Includes accumulated as of December 31 the result of i) hedges for future exports (Note 30.3) for ($249,978) (2020: ($193,374) ; 2019: ($386,773 )) and ii) operations with derivative financial instruments for ($99,914) (2020: ($663,973) ; 2019: $1,603 ), which are related to crude oil for ($99,913) (2020: ($587,591) ; 2019: $1,603 ), fuel oil for $7 (2020: ($76,382) ; 2019 : 0 ) and mid-distillates for ($8) (2020: 0 ; 2019: 0 ). To present comparative values, the cash flow hedges and hedges for future exports were grouped for the years 2020 and 2019.
Schedule of sales by geographic areas	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 % 2020 % 2019 % ​ Colombia 44,822,210 48.8 % 24,687,715 49.2 % 34,305,108 48.0 % Asia 20,355,063 22.2 % 9,497,498 18.9 % 13,529,151 18.9 % United States 16,025,083 17.4 % 11,365,218 22.6 % 17,371,173 24.3 % South America and others 5,727,355 6.2 % 1,296,370 2.6 % 1,502,815 2.1 % Central America and the Caribbean 3,503,618 3.8 % 2,581,644 5.1 % 3,472,665 4.9 % Europe 1,447,875 1.6 % 794,948 1.6 % 1,307,600 1.8 % ​ 91,881,204 100 % 50,223,393 100 % 71,488,512 100 %

Cost of sales (Tables)

Cost of sales (Tables)	12 Months Ended
	Dec. 31, 2021
Cost of sales
Schedule of cost of sales of non current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Variable costs Imported products (1) 16,944,375 7,592,489 12,639,710 Purchases of crude in association and concession 10,015,898 4,281,661 5,466,496 Depreciation amortization and depletion 6,328,144 6,069,903 5,523,306 Purchases of hydrocarbons – ANH (2) 5,611,153 2,798,432 5,437,177 Taxes and economic rights 1,125,761 841,443 788,924 Electric energy 1,087,269 1,098,621 829,543 Hydrocarbon transport services 917,552 874,632 821,654 Process materials 906,500 827,464 1,016,617 Purchases of other products and gas 811,024 598,015 584,507 Services contracted in associations 267,934 269,637 267,778 Others (3) (3,009,700) 657,634 (676,269) ​ 41,005,910 25,909,931 32,699,443 Fixed costs ​ ​ ​ Depreciation and amortization 3,270,735 2,930,120 2,781,446 Services contracted 2,756,000 1,623,375 1,841,009 Maintenance 2,637,857 2,257,370 2,497,002 Labor costs 2,596,947 2,299,761 2,316,567 Services contracted in associations 1,286,291 1,121,010 1,211,510 Taxes and contributions 1,060,123 593,041 516,933 Materials and operating supplies 561,182 508,037 574,678 Hydrocarbon transport services 57,855 253,752 268,572 General costs (4) 348,876 71,075 265,200 ​ 14,575,866 11,657,541 12,272,917 ​ 55,581,776 37,567,472 44,972,360 (1) Imported products correspond mainly to gasolines, naphtha, and diluent to facilitate the transport of heavy crude oil. (2) Corresponds to purchases of crude oil by Ecopetrol from the National Hydrocarbons Agency (ANH, by its acronym in Spanish) derived from national production. (3) Corresponds to: i) result of the process of use and valuation of core inventories, ii) measurement at net realizable value and iii) other capitalizable charges to projects. The variation corresponds to the recovery of international indicators that affects the valuation, and higher volumes. (4) Includes the transfers to operating expenses of the costs related to Refinería de Barranca units without production due to the decrease in loading capacity due to the health emergency caused by COVID-19 .

Administrative, operation and p

Administrative, operation and project expenses (Tables)	12 Months Ended
	Dec. 31, 2021
Administrative, operations and project expenses
Schedule of administrative, operation and project expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Administrative expenses General expenses (1,638,129) (1,424,348) (1,140,975) Labor expenses (1) (1,264,319) (1,658,613) (759,324) Depreciation and amortization (386,732) (229,792) (202,547) Taxes (52,889) (60,397) (48,753) ​ (3,342,069) (3,373,150) (2,151,599) Operations and project expenses ​ ​ ​ Exploration costs (959,562) (689,087) (763,452) Commissions fees freights and services (686,156) (656,432) (558,370) Taxes (515,848) (428,608) (483,330) Labor expenses (312,791) (309,972) (402,531) Depreciation and amortization (2) (174,311) (94,723) (75,484) Maintenance (156,412) (78,181) (56,333) Fee for regulatory entities (139,158) (142,695) (94,785) Others ​ (209,319) ​ (186,318) ​ (197,469) ​ (3,153,557) (2,586,016) (2,631,754) (1) Since 2020, it includes the recognition of the new voluntary retirement plan for 94 workers for 2021 (2020: 421 ). (2) It includes the right-of-use assets amortizations for $28,441 (2020: $10,814 ; 2019: $14,532 ).

Other operating (expenses) in_2

Other operating (expenses) income (Tables)	12 Months Ended
	Dec. 31, 2021
Other operating (expenses) income
Schedule of other operating (expenses) income	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Expense for legal provisions ​ (650,926) ​ (139,978) ​ (98,020) Loss on sale of assets (123,342) (263,647) (148,021) Impairment loss of short–term assets (83,773) (34,416) (90,441) Gain on revaluation of assets in Guajira association (1) — 1,284,372 — Gain on acquisition of participations and interests (1) — 86,026 1,048,924 Gain on loss of control in subsidiaries (2) — 65,695 — Other income (3) 785,297 120,114 344,354 ​ (72,744) 1,118,166 1,056,796 (1) Results in the acquisition of Guajira in 2020: Ecopetrol $1,284,372 and Hocol $86,026 . For Ecopetrol it corresponds to the revaluation of the assets that it already had in the Guajira association and for Hocol it corresponds to the Bargain obtained from the acquisition of the 43% stake. For 2019, this corresponds mainly to gains related to the business combination of Invercolsa S.A. (2) Recognition in 2020 of the disposal 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. $65,570 (Note 2.2). Liquidation process of ECP Oil and Gas Germany GmbH COP $125 . (3) It mainly corresponds to the compensation received by Cenit Transporte y Logística de Hidrocarburos and Oleoducto Bicentenario de Colombia, because of the approval of the conciliation agreement with the Frontera Group (Note 23.3).

Financial result (Tables)

Financial result (Tables)	12 Months Ended
	Dec. 31, 2021
Financial result
Schedule of Finance Income Expense Explanatory	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Finance income Yields and interests 266,116 299,246 481,674 Results from financial assets and others 108,640 665,310 975,245 Gain on derivatives valuation ​ 10,289 ​ 108,838 ​ — Dividends (1) 27 44 117,260 Other financial income 18,520 27,992 49,157 ​ 403,592 1,101,430 1,623,336 Finance expenses ​ ​ ​ Interest (2) (3,095,224) (2,384,342) (1,894,490) Financial cost of other liabilities (3) (1,043,728) (872,987) (757,509) Results from financial assets (101,973) (473,598) (638,767) Other financial expenses (190,723) (198,864) (43,703) ​ (4,431,648) (3,929,791) (3,334,469) Foreign exchange gain ​ ​ ​ ​ (Loss) gain from exchange difference ​ (31,726) ​ 346,774 ​ 40,639 Gain from realization of other comprehensive income on sale of joint ventures (Note 13) ​ 361,728 ​ — ​ — ​ ​ 330,002 ​ 346,774 ​ 40,639 ​ ​ ​ ​ ​ ​ ​ Financial result (3,698,054) (2,481,587) (1,670,494) (1) In 2007, Arrendadora Financiera Internacional Bolivariana (AFIB) and Ecopetrol signed an agreement to constitute a trust fund, in which Invercolsa deposited dividends corresponding to 8.53 % of the participation in dispute, regarding the shares acquired by Fernando Londoño. In 2019, as a result of the sentence of the Supreme Court of Justice, Ecopetrol received the amount of dividends that were in that trust. (2) As of December 31, 2021, borrowing costs for the financing of developing natural resources and property, plant, and equipment of COP $255,707 (2020 – COP $247,501 and 2019 – $ 248,139 ) were capitalized. (3) Includes the financial expense of the asset retirement obligations and the liabilities for post–employment benefits .

Risk management (Tables)

Risk management (Tables)	12 Months Ended
	Dec. 31, 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 balance of financial assets and liabilities denominated in foreign currency for the years ended December 31, is presented in the following table: ​ ​ ​ ​ ​ ​ (in USD$Million) 2021 2020 Cash and cash equivalents 388 197 Other financial assets 408 1,164 Trade receivables and payables, net 423 203 Loans and borrowings (15,514) (11,814) Other assets and liabilities, net 702 277 Net liability position (13,593) (9,973)
Schedule of Sensitivity analysis for types of market risk	The following is the effect of a change of 1% and 5% in the exchange rate of the Colombian peso as compared with the U.S. dollar, on the balance of financial assets and liabilities denominated in foreign currency as of December 31, 2021: ​ ​ ​ ​ ​ ​ Scenario / Variation in Effect on income Effect in other the exchange rates ​ before taxes +/– ​ comprehensive income +/– 1 % 16,432 524,727 5 % 82,161 2,623,635
Schedule of hedging instruments	The following is the movement of foreign currency debt designated as a non–derivative hedging instrument for the years ended December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ (US$Million) 2021 2020 Hedging instrument at the beginning of the period 1,300 1,300 Reassignment of hedging instruments 675 1,230 Realization of exports (675) (1,230) Designation of new coverage 3,672 — Hedging instrument at the end of the period 4,972 1,300 ​
Schedule of movement of other comprehensive income by item explanatory	The following is the movement in other comprehensive income for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Opening balance (136,470) (135,748) (374,079) Exchange difference (1,533,743) (201,967) (35,607) Reclassification to profit or loss 249,978 193,374 386,773 Ineffectiveness 24,496 9,779 5,173 Deferred income tax 450,492 (1,908) (118,008) Closing balance (945,247) (136,470) (135,748) The following is the movement in other comprehensive income attributable to owners of parent for the years ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Opening balance 1,494,926 1,130,583 1,069,316 Exchange difference 4,577,887 520,490 87,524 Deferred income tax (1,708,348) (156,147) (26,257) Closing balance 4,364,465 1,494,926 1,130,583
Schedule of expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss	The expected reclassification of the cumulative exchange difference from other comprehensive income to the profit or loss is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Year ​ Before taxes ​ Taxes After taxes 2022 (1,426,676) (499,337) (927,339) 2023 ​ 121,948 ​ 42,682 ​ 79,266 2024 ​ (118,164) ​ (41,357) ​ (76,807) 2025 (73,332) (25,666) (47,666) 2026 41,998 14,699 27,299 ​ (1,454,226) (508,979) (945,247)
Schedule of Analysis of age of financial assets that are past due but not impaired	An aging analysis of the accounts receivable portfolio in arrears, but not impaired, as of December 31, 2021, and 2020 is as follows: ​ ​ ​ ​ ​ ​ ​ 2021 2020 Less than 3 months overdue 332,249 56,144 Between 3 and 6 months overdue 7,103 1,270 More than 6 months overdue 4,418 301,858 ​ 343,770 359,272
Schedule of financial instruments by type of interest rate	The following table provides information about the sensitivity of the Ecopetrol Business Group’s results and other comprehensive income for the next 12 months to variations in interest rate of 100 basis points: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Effect on Other ​ ​ Effect on profit or loss (+/–) ​ Comprehensive Income (+/–) ​ ​ Financial ​ Financial ​ ​ ​ Assets Liabilities Plan Assets +100 basis points (22,082) 603,559 (499,144) –100 basis points 22,082 (569,008) 508,441
Schedule of how entity manages liquidity risk	The following is a summary of the maturity of financial liabilities as of December 31, 2021. The amounts disclosed in the table are the contractual undiscounted cash flows. The payments in foreign currency were restated taking a constant exchange rate of COP$3,981.16 per U.S. dollar: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 year 1–5 years 5–10 years > 10 years Total Loans (payment of principal and interest) 5,808,268 46,594,900 24,851,089 31,568,975 108,823,232 Trade and other payables 13,568,231 78,091 — — 13,646,322 ​ 19,376,499 46,672,991 24,851,089 31,568,975 122,469,554
Schedule of leverage ratio	The following is the leverage ratio as of December 31, 2021, and 2020: ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Loans and borrowings (Note 20) 95,060,928 46,731,754 ​ Cash and cash equivalents (Note 6) (14,549,906) (5,082,308) ​ Other financial assets (Note 9) (2,934,734) (3,071,659) ​ Net financial debt 77,576,288 38,577,787 ​ Equity 90,583,772 53,499,363 ​ Leverage 46.13 % 41.90 % ​ The movement of the net financial debt is detailed in Note 20.7.
Cash flow hedging
Balance of financial assets and liabilities denominated in foreign currency
Schedule of hedging instruments	​ ​ ​ ​ ​ ​ ​ ​ Company Derivative instrument 2021 2020 Red de Energía del Perú (1) Cross currency swap 106,333 — Intervial Chile (2) Cross currency swap 30,769 — Ruta del Maipo (3) Cross currency swap 11,042 — ​ ​ 148,144 ​ —

Related parties (Tables)

Related parties (Tables)	12 Months Ended
	Dec. 31, 2021
Related parties
Schedule of associates and joint ventures	Balances with associates and joint ventures as of December 31, 2021, and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ receivable ​ Other ​ Accounts ​ ​ ​ Other ​ receivable – Loans assets payable Loans liabilities Joint Ventures Equion Energy Limited (1) 925 — 1,386 12,997 1,483,701 233 Ecodiesel Colombia S.A. 1,521 — — 46,452 — — Interligação Elétrica Garanhuns S.A. — 28 — — — — Interligação Elétrica Paraguaçu S.A. ​ — 28 — — — — Interligação Elétrica Aimorés S.A. ​ — 28 — — — — Interligação Elétrica Ivaí S.A. ​ — 28 — — — — Derivex S.A. ​ — ​ 335 ​ — — — — Associates ​ ​ ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. ​ — ​ — ​ — ​ 5,211 ​ — ​ — Extrucol S.A. ​ — ​ — ​ — ​ 283 ​ — ​ — E2 Energía Eficiente S.A. E.S.P. 6,797 ​ — ​ — ​ 1,655 ​ — ​ — Balance as of December 31, 2021 9,243 447 1,386 66,598 1,483,701 233 Current 9,243 112 1,386 66,598 1,483,701 233 Non–current — 335 — — — — ​ 9,243 447 1,386 66,598 1,483,701 233 ​ (Note 7) (Note 7) (Note 11) (Note 21) (Note 20) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ receivable ​ Other ​ Accounts ​ ​ ​ Other ​ receivable – Loans assets payable Loans 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 Non–current — — — — — — ​ 7,748 97,300 7,093 72,316 1,277,046 1,664 ​ (Nota 7) (Nota 7) (Nota 11) (Nota 21) (Nota 20) ​ Loans: (1) Resources deposited by Equion in Ecopetrol Capital AG. Accounts receivable – Loans: (2) Offshore International Group Inc. loan granted by Ecopetrol This company is no longer part of the business group. See note 13.
Schedule of transactions between related parties	The main transactions with related parties as of December 31 are detailed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 ​ ​ Sales and ​ Purchases ​ Sales and ​ Purchases ​ Sales and ​ Purchases ​ services and others services and others services and others Joint Ventures Equion Energy Limited 13,996 149,046 27,595 356,872 317,382 569,105 Ecodiesel Colombia S.A. 35,825 442,373 8,268 346,201 8,614 280,649 Offshore International Group — — 4,461 — 3,245 — ​ ​ 49,821 ​ 591,419 ​ 40,324 ​ 703,073 ​ 329,241 ​ 849,754 Associates ​ ​ ​ ​ ​ ​ E2 Energía Eficiente S.A. E.S.P. 60,159 6,976 49,860 2,849 — — Gas Natural del Oriente S.A. E.S.P. ​ — ​ 27,175 ​ — ​ 26,141 ​ — ​ — Extrucol S.A. ​ — ​ 2,354 ​ — ​ 1,162 ​ — ​ — ​ 60,159 36,505 49,860 30,152 — — ​ ​ 109,980 627,924 90,184 733,225 329,241 849,754
Schedule of key management personnel	As of December 31, 2021, key management officers owned less than 1% of the outstanding shares of Ecopetrol as follows: ​ Key management personnel % Shares Felipe Bayón <1% outstanding shares Jaime Caballero <1% outstanding shares

Joint operations (Tables)

Joint operations (Tables)	12 Months Ended
	Dec. 31, 2021
Contract where entity not operator
Disclosure of joint operations [line items]
Schedule of interests in joint arrangements	32.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ % ​ Geographic area of Partners Contract Type Participation operations ​ ​ Chipirón ​ ​ ​ 30-41 % ​ SierraCol Energy Arauca, LLC Cosecha Production 30 % Colombia ​ Cravo Norte ​ ​ 55 % ​ ​ Rondón ​ ​ 50 % ​ Frontera Energy Colombia Corp Quifa Production 40 % Colombia ​ Casanare ​ 74.40 % ​ ​ Corocora ​ 83.91 % ​ Perenco Colombia Limited Estero ​ Production 95.98 % ​ ​ Garcero ​ ​ 91.22 % Colombia ​ Orocúe ​ ​ 86.47 % ​ ONGC Videsh Limited Sucursal Ronda Caribe RC-10 ​ Exploration 50 % Offshore Caribe Norte Colombia ​ ​ ​ ​ ​ ​ ​ ​ Petrobras ​ Tayrona ​ Exploration ​ 44 % Offshore Caribe Norte Shell EP Offshore ventures Limited Fuerte Sur ​ 50 % ​ ​ ​ Purple Angel ​ Exploration ​ 50 % Offshore Caribe Norte ​ ​ Col-5 ​ ​ ​ 50 % ​ Canacol ​ Rancho Hermoso ​ Production ​ 70 % Colombia ​ ​ Nuevas Formaciones ​ ​ ​ ​ ​ ​ ​ ​ Llanos 86 ​ ​ ​ 50 % ​ ​ ​ Llanos 87 ​ ​ ​ 50 % ​ Geopark ​ Llanos 104 ​ Exploration ​ 50 % Colombia ​ ​ Llanos 123 ​ ​ ​ 50 % ​ ​ ​ Llanos 124 ​ ​ ​ 50 % ​ ​ ​ Mana ​ ​ ​ 30 % ​ Interoil Colombia ​ Ambrosia ​ Production ​ 30 % Colombia ​ ​ Rio Opia ​ ​ ​ 30 % ​ Lewis ​ SSJN1 ​ Exploration ​ 50 % Colombia ​ ​ Saturno ​ ​ ​ 10 % ​ Shell ​ Sul de Gato do Mato ​ Exploration ​ 30 % Brazil ​ ​ Gato do Mato ​ ​ ​ 30 % ​ BP Energy Pau Brasil Exploration 20 % Brazil Occidental Midland Basin, LLC ​ Rodeo Midland Basin ​ Production ​ 49 % Midland, Texas, USA (Oxy) ​ ​ ​ ​ ​ ​ ​ ​ Quarter North Energy ​ Gunflint ​ Production ​ 32 % Golfo de México Murphy Exploration and Dalmatian Production 30 % Golfo de México Production Company - USA ​ ​ ​ ​ ​ OXY (Anadarko)- K2 ​ K2 ​ Production ​ 21 % Golfo de México Shell Offshore LLC Rydberg Exploration 29 % Golfo de México Hess Corportation ​ ESOX ​ Production ​ 21 % Golfo de México Pemex Exploración y Producción ​ Bloque 8 ​ Exploration ​ 50 % Golfo de México PC Carigali Mexico Operation SA ​ Bloque 6 ​ Exploration ​ 50 % Gulf of Mexico
Contract where Entity is operator
Disclosure of joint operations [line items]
Schedule of interests in joint arrangements	32.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ % ​ Geographic area of Partners Contract Type Participation operations ​ VMM29 ​ Exploration 50 % ​ ​ CR2 ​ ​ ​ 50 % ​ ExxonMobil Exploration Colombia C62 ​ ​ ​ 50 % Colombia ​ ​ VMM37 ​ ​ ​ 100 % ​ ​ ​ KALE ​ ​ ​ 0 % ​ Repsol Colombia SA CPO9 ​ Exploration 55 % Colombia ONGC Videsh Limited Sucursal Colombia RC9 ​ Exploration 50 % Colombia CPVEN E&P Corp. Sucursal Colombia VMM32 ​ Exploration 51 % Colombia Shell Exploration and Production CR4 ​ Exploration 50 % Colombia SK Innovation Co Ltd. San Jacinto ​ Exploration 70 % Colombia Repsol Exploración Colombia S.A. Catleya ​ Exploration 50 % Colombia Emerald Energy PLC Suc. Colombia Cardon ​ Exploration 50 % Colombia Parex Resources Colombia Ltd. ORC401 CRC-2004-01 ​ Exploration 50 % Colombia Repsol Colombia Oil & Gas Limited ​ CPO9 – Akacias ​ Production ​ 55 % Colombia SierraCol Energy Arauca, LLC La Cira Infantas ​ Production 58 % ​ ​ Teca ​ ​ 86 % Colombia Perenco Oil And Gas San Jacinto Rio Paez ​ Production 68 % Colombia Cepsa Colombia ​ ​ ​ ​ ​ ​ ​ ​ Total Colombie ​ Mundo Nuevo ​ Exploration ​ 15 % Colombia Repsol Exploración Colombia SA ​ ​ ​ ​ ​ ​ ​ ​ Equion Energía Limited ​ ​ ​ ​ ​ ​ ​ ​ Emerald Energy Colombia Oleoducto Alto Magdalena ​ OAM 45 % Colombia Frontera Energy ​ ​ ​ ​ ​ ​ Lewis Energy Colombia Inc Clarinero ​ Exploration 50 % Colombia Total Colombie Niscota ​ Production 20 % Colombia

Information by segments (Tables

Information by segments (Tables)	12 Months Ended
	Dec. 31, 2021
Information by segments
Schedule of operating segments	Below are the consolidated statements of profit or loss by segment for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Electric ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Power ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ transmission ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ Transport ​ and toll ​ ​ ​ ​ ​ and Refining and and roads ​ ​ ​ ​ ​ Production ​ Petrochemicals ​ Logistics ​ concessions ​ Eliminations Total Third–party sales 38,552,572 46,658,196 2,557,238 ​ 4,113,198 — 91,881,204 Inter–segment sales 24,696,380 4,318,189 9,601,228 ​ — (38,615,797) — Total sales revenue 63,248,952 50,976,385 12,158,466 ​ 4,113,198 (38,615,797) 91,881,204 Variable cost (30,473,145) (44,860,928) (531,361) ​ — 34,859,524 (41,005,910) Fixed cost (9,861,987) (3,674,460) (2,728,948) ​ (1,817,491) 3,507,020 (14,575,866) Cost of sales (40,335,132) (48,535,388) (3,260,309) ​ (1,817,491) 38,366,544 (55,581,776) Gross profit 22,913,820 2,440,997 8,898,157 ​ 2,295,707 (249,253) 36,299,428 Administrative expenses (1,987,817) (784,214) (457,217) ​ (322,939) 210,118 (3,342,069) Operation and project expenses (1,882,686) (944,616) (404,264) ​ (460) 78,469 (3,153,557) Impairment of non–current assets 438,020 (305,466) (165,901) ​ (4) — (33,351) Other operating income and expenses net (617,893) 10,749 591,829 ​ (51,267) (6,162) (72,744) Operating income (expenses) 18,863,444 417,450 8,462,604 ​ 1,921,037 33,172 29,697,707 Financial result net ​ ​ ​ ​ ​ ​ ​ Financial income 517,629 24,313 76,453 ​ 89,267 (304,070) 403,592 Financial expenses (2,410,906) (1,151,255) (250,816) ​ (886,420) 267,749 (4,431,648) Foreign exchange gain (loss) net (219,747) (132,734) 381,964 ​ 300,519 — 330,002 ​ (2,113,024) (1,259,676) 207,601 ​ (496,634) (36,321) (3,698,054) Share of profits of associates and joint ventures 9,610 200,998 858 ​ 214,698 — 426,164 Income before tax 16,760,030 (641,228) 8,671,063 ​ 1,639,101 (3,149) 26,425,817 Income tax (5,019,540) (383,562) (2,925,390) ​ (466,771) — (8,795,263) Net profit (loss) for the period 11,740,490 (1,024,790) 5,745,673 ​ 1,172,330 (3,149) 17,630,554 Profit (loss) attributable to: ​ ​ ​ ​ ​ ​ ​ Group owners of parent 11,829,119 (1,198,619) 4,635,354 ​ 386,438 (3,149) 15,649,143 Non–controlling interest (88,629) 173,829 1,110,319 ​ 785,892 — 1,981,411 ​ 11,740,490 (1,024,790) 5,745,673 ​ 1,172,330 (3,149) 17,630,554 Supplementary information ​ ​ ​ ​ ​ ​ ​ Depreciation depletion and amortization 6,844,910 1,640,940 1,211,642 ​ 462,430 — 10,159,922 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2020 ​ ​ Exploration ​ Refining and ​ Transport and ​ ​ ​ ​ ​ and Production Petrochemicals Logistics ​ Eliminations Total Third–party sales 22,854,925 24,804,887 2,563,581 ​ — 50,223,393 Inter–segment sales 13,985,072 1,299,464 9,630,859 ​ (24,915,395) — Total sales revenue 36,839,997 26,104,351 12,194,440 ​ (24,915,395) 50,223,393 Fixed costs (9,479,317) (3,427,211) (2,813,856) ​ 4,062,843 (11,657,541) Variable costs (23,429,102) (22,398,344) (567,501) ​ 20,485,016 (25,909,931) Cost of sales (32,908,419) (25,825,555) (3,381,357) ​ 24,547,859 (37,567,472) Gross profit 3,931,578 278,796 8,813,083 ​ (367,536) 12,655,921 Administrative expenses (2,163,198) (936,175) (533,594) ​ 259,817 (3,373,150) Operation and project expenses (1,511,510) (781,309) (403,657) ​ 110,460 (2,586,016) Impairment of non–current assets (192,693) (781,528) 341,065 ​ — (633,156) Other operating income and expenses net 1,085,114 34,705 1,827 ​ (3,480) 1,118,166 Operating income (expenses) 1,149,291 (2,185,511) 8,218,724 ​ (739) 7,181,765 Financial result net ​ ​ ​ ​ ​ ​ Financial income 1,177,712 67,832 125,677 ​ (269,791) 1,101,430 Financial expenses (2,896,060) (914,534) (389,394) ​ 270,197 (3,929,791) Foreign exchange gain (loss) net 360,409 (447,880) 434,245 ​ — 346,774 ​ (1,357,939) (1,294,582) 170,528 ​ 406 (2,481,587) Share of profits of associates and joint ventures (53,037) 131,462 (2,089) ​ — 76,336 Income before tax (261,685) (3,348,631) 8,387,163 ​ (333) 4,776,514 Income tax 43,569 614,269 (2,696,499) ​ — (2,038,661) Net profit (loss) for the period (218,116) (2,734,362) 5,690,664 ​ (333) 2,737,853 Profit (loss) attributable to: ​ ​ ​ ​ ​ ​ Group owners of parent (139,279) (2,848,511) 4,574,800 ​ (333) 1,586,677 Non–controlling interest (78,837) 114,149 1,115,864 ​ — 1,151,176 ​ (218,116) (2,734,362) 5,690,664 ​ (333) 2,737,853 Supplementary information ​ ​ ​ ​ ​ ​ Depreciation depletion and amortization ​ 6,445,812 1,599,780 1,278,946 ​ — 9,324,538 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2019 ​ ​ Exploration and ​ Refining and ​ Transport ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total Third–party sales 31,295,118 36,393,470 3,799,924 ​ — 71,488,512 Inter–segment sales 21,372,872 2,377,336 9,270,812 ​ (33,021,020) — Total sales revenue 52,667,990 38,770,806 13,070,736 ​ (33,021,020) 71,488,512 Fixed costs (9,587,961) (3,523,948) (3,039,452) ​ 3,878,444 (12,272,917) Variable costs (26,785,904) (34,332,271) (698,742) ​ 29,117,474 (32,699,443) Cost of sales (36,373,865) (37,856,219) (3,738,194) ​ 32,995,918 (44,972,360) Gross profit 16,294,125 914,587 9,332,542 ​ (25,102) 26,516,152 Administrative expenses (1,284,560) (496,155) (372,942) ​ 2,058 (2,151,599) Operation and project expenses (1,475,710) (743,378) (434,904) ​ 22,238 (2,631,754) Impairment of non–current assets (1,982,044) 452,163 (232,556) ​ — (1,762,437) Other operating income and expenses net 49,673 ​ 1,014,988 74,607 ​ (82,472) ​ 1,056,796 Operating income (expenses) 11,601,484 1,142,205 8,366,747 ​ (83,278) 21,027,158 Financial result net ​ ​ ​ ​ ​ ​ Financial income 1,440,440 229,297 273,613 ​ (320,014) 1,623,336 Financial expenses (2,311,133) (996,790) (306,878) ​ 280,332 (3,334,469) Foreign exchange gain (loss) net 287,286 (179,936) (66,711) ​ — 40,639 ​ (583,407) (947,429) (99,976) ​ (39,682) (1,670,494) Share of profits of associates and joint ventures 227,401 17,091 138 ​ 122,274 366,904 Income before tax 11,245,478 211,867 8,266,909 ​ (686) 19,723,568 Income tax (1,925,798) (83,504) (2,709,111) ​ — (4,718,413) Net profit (loss) for the period 9,319,680 128,363 5,557,798 ​ (686) 15,005,155 Profit (loss) attributable to: ​ ​ ​ ​ ​ ​ Group owners of parent 9,382,129 117,708 4,244,860 ​ (686) 13,744,011 Non–controlling interest (62,449) 10,655 1,312,938 ​ — 1,261,144 ​ 9,319,680 128,363 5,557,798 ​ (686) 15,005,155 Supplementary information ​ ​ ​ ​ ​ ​ Depreciation depletion and amortization 5,892,822 1,398,948 1,291,013 ​ — 8,582,783
Schedule of products and services	The sales by product for each segment are detailed below for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ Electric power ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ transmission ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and toll ​ ​ ​ ​ ​ ​ Exploration and ​ Refining and ​ Transport and ​ roads ​ ​ ​ ​ ​ ​ Production Petrochemicals Logistics ​ concessions ​ Eliminations Total Local sales ​ Mid–distillates — 17,166,812 — ​ — (26,485) 17,140,327 Gasolines — 17,931,469 — ​ — (2,456,099) 15,475,370 Natural gas 4,077,691 ​ — — ​ — (877,622) 3,200,069 Services 132,060 659,088 12,158,466 ​ 120,795 (10,004,421) 3,065,988 Plastic and rubber — 1,642,035 — ​ — — 1,642,035 LPG and propane 618,218 332,542 — ​ — (24,529) 926,231 Fuel gas service — 742,212 — ​ — (7,546) 734,666 Electric power transmission services — — — ​ 728,467 — 728,467 Asphalts 25,178 585,873 — ​ — — 611,051 Polyethylene — 320,466 — ​ — — 320,466 Aromatics — 247,387 — ​ — — 247,387 Crude oil 23,619,491 — — ​ — (23,426,015) 193,476 Roads and Construction Services ​ — ​ — ​ — ​ 107,179 ​ — ​ 107,179 Fuel oil ​ 10,838 ​ 12,961 ​ — ​ — ​ — ​ 23,799 Other income gas contracts 2,879 — — ​ — — 2,879 Other products 35,213 2,160,653 — ​ — (1,793,038) 402,828 Cash flow hedges ​ — ​ (8) ​ — ​ — ​ — ​ (8) ​ 28,521,568 41,801,490 12,158,466 ​ 956,441 (38,615,755) 44,822,210 Foreign sales ​ ​ ​ ​ ​ ​ ​ Crude oil 34,868,421 — ​ — ​ — ​ — ​ 34,868,421 Diesel — 3,867,937 ​ — ​ — ​ — ​ 3,867,937 Fuel oil — 2,288,977 ​ — ​ — ​ — ​ 2,288,977 Plastic and rubber — 2,092,379 ​ — ​ — ​ — ​ 2,092,379 Electric power transmission services — — ​ — ​ 1,827,622 ​ — ​ 1,827,622 Roads and Construction Services — — ​ — ​ 1,241,144 ​ — ​ 1,241,144 LPG and propane 116,960 — ​ — ​ — ​ — ​ 116,960 Natural gas 71,529 — ​ — ​ — ​ — ​ 71,529 Other products ​ 20,365 ​ 925,595 ​ — ​ 87,991 ​ (42) ​ 1,033,909 Cash flow hedges (349,891) 7 ​ — ​ — ​ — ​ (349,884) ​ 34,727,384 9,174,895 ​ — ​ 3,156,757 ​ (42) ​ 47,058,994 ​ 63,248,952 50,976,385 ​ 12,158,466 ​ 4,113,198 ​ (38,615,797) ​ 91,881,204 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31, 2020 ​ ​ Exploration and ​ Refining and ​ Transport and ​ ​ ​ ​ ​ Production Petrochemicals Logistics ​ Eliminations Total Local sales ​ Mid-distillates — 8,871,938 — ​ (11,350) 8,860,588 Gasoline and turbo fuels 6,739 7,880,124 — ​ (1,118,817) 6,768,046 Services 116,485 ​ 268,081 12,194,384 ​ (9,719,391) 2,859,559 Natural gas 3,683,018 — — ​ (837,863) 2,845,155 Plastic and rubber — 865,204 — ​ — 865,204 Fuel gas service — 678,396 — ​ (6,826) 671,570 Asphalts 27,043 499,057 — ​ — 526,100 LPG and propane 249,533 133,525 — ​ (7,283) 375,775 Crude oil 13,250,275 — — ​ (13,019,755) 230,520 Aromatics — 155,740 — ​ — 155,740 Polyethylene — 138,035 — ​ — 138,035 Fuel oil 7,758 29,243 — ​ — 37,001 Other income gas contracts 32,190 — — ​ — 32,190 Other products 19,556 417,889 — ​ (115,213) 322,232 ​ 17,392,597 19,937,232 12,194,384 ​ (24,836,498) 24,687,715 Foreign sales ​ ​ ​ ​ ​ ​ Crude oil 20,165,489 29 ​ — ​ (79,345) ​ 20,086,173 Diesel — 3,164,068 ​ — ​ — ​ 3,164,068 Fuel oil — 1,044,811 ​ — ​ — ​ 1,044,811 Plastic and rubber — 1,302,131 ​ — ​ — ​ 1,302,131 LPG and propane 18,943 — ​ — ​ — ​ 18,943 Natural gas 17,231 — ​ — ​ — ​ 17,231 Gasolines and turbo fuels — 179,257 ​ — ​ — ​ 179,257 Other products 26,702 553,206 ​ 56 ​ 447 ​ 580,411 Cash flow hedges (780,965) (76,382) ​ — ​ — ​ (857,347) ​ 19,447,400 6,167,120 ​ 56 ​ (78,898) ​ 25,535,678 ​ 36,839,997 26,104,352 ​ 12,194,440 ​ (24,915,396) ​ 50,223,393 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended on December 31 2019 ​ ​ Exploration and ​ Refining and ​ Transport ​ ​ ​ ​ ​ Production Petrochemicals and Logistics Eliminations Total Local sales ​ Mid–distillates — 15,073,134 — ​ (31,251) 15,041,883 Gasoline and turbo fuel — 11,554,947 — ​ (1,896,767) 9,658,180 Services 196,527 ​ 261,390 13,070,676 ​ (9,412,967) 4,115,626 Natural gas 2,909,770 — — ​ (653,647) 2,256,123 Plastic and rubber — 834,133 — ​ — 834,133 Asphalts 24,690 519,510 — ​ — 544,200 LPG and propane 179,541 193,375 — ​ — 372,916 Crude oil 21,085,955 — — ​ (20,729,098) 356,857 Fuel gas service — 72,249 — ​ — 72,249 Aromatics — 228,552 — ​ — 228,552 Polyethylene — 192,436 — ​ — 192,436 Other income gas contracts 102,845 — — ​ — 102,845 Fuel oil 1,464 96,443 — ​ — 97,907 Other products 25,215 703,270 — ​ (297,284) 431,201 ​ 24,526,007 29,729,439 13,070,676 ​ (33,021,014) 34,305,108 Foreign sales ​ ​ ​ ​ ​ ​ Crude oil 28,459,998 61,995 — ​ — 28,521,993 Diesel — 4,391,798 — ​ — 4,391,798 Fuel oil — 1,870,929 — ​ — 1,870,929 Plastic and rubber — 1,249,189 — ​ — 1,249,189 LPG and propane 13,591 — — ​ — 13,591 Natural gas 27,255 — — ​ — 27,255 Gasolines and turbo fuels — 1,085,392 — ​ — 1,085,392 Other products 26,309 382,063 55 ​ — 408,427 Cash flow hedges (385,170) — — ​ — (385,170) ​ 28,141,983 9,041,366 55 ​ — 37,183,404 ​ 52,667,990 38,770,805 13,070,731 ​ (33,021,014) 71,488,512
Schedule of detailed information about investment property segment wise	The following are the investments amounts made by each segment for the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electric ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ power ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ transmission ​ ​ ​ ​ Exploration ​ Refining and ​ Transport and ​ and toll roads ​ ​ 2021 and Production Petrochemicals Logistics concessions Total Property, plant, and equipment (Note 14) 2,633,119 ​ 1,845,618 ​ 1,344,654 ​ 294,197 ​ 6,117,588 Natural and environmental resources (Note 15) 6,733,028 ​ — ​ — ​ — ​ 6,733,028 Intangibles (Note 17) 106,490 ​ 22,685 ​ 47,236 ​ 267,935 ​ 444,346 ​ 9,472,637 ​ 1,868,303 ​ 1,391,890 ​ 562,132 ​ 13,294,962 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exploration ​ Refining and ​ Transport and ​ ​ 2020 and Production Petrochemicals Logistics Total Property, plant, and equipment (Note 14) 2,866,600 ​ 1,329,181 ​ 836,536 ​ 5,032,317 Natural and environmental resources (Note 15) 5,994,462 ​ — ​ — ​ 5,994,462 Intangibles (Note 17) 41,002 ​ 8,771 ​ 40,309 ​ 90,082 ​ 8,902,064 ​ 1,337,952 ​ 876,845 ​ 11,116,861 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Exploration ​ Refining and ​ Transport and ​ ​ 2019 and Production Petrochemicals Logistics Total Property, plant, and equipment 2,151,194 497,512 1,363,953 ​ 4,012,659 Natural and environmental resources 9,798,193 — — ​ 9,798,193 Intangibles 25,775 20,569 121,945 ​ 168,289 ​ 11,975,162 518,081 1,485,898 ​ 13,979,141

Supplemental information on o_2

Supplemental information on oil and gas producing activities (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2021
Supplemental information on oil and gas producing activities (unaudited)
Schedule of capitalized costs relating to oil and gas producing activities	34.1 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Natural and environmental properties 79,385,151 67,767,005 60,261,025 Wells, equipment, and facilities – property, plant and equipment 31,730,001 31,166,804 30,150,268 Exploration and production projects 11,474,682 12,494,665 8,801,630 Accumulated depreciation, depletion, and amortization (70,739,885) (64,233,572) (60,346,094) Net capitalized cost 51,849,949 47,194,902 38,866,829
Schedule of costs Incurred in oil and gas property acquisition, exploration, and development activities	34.2 Costs incurred are summarized below and include both amounts expensed and capitalized in the corresponding period. ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Acquisition of proved properties (1) — 507,907 2,668,960 Acquisition of unproved properties (2) — 1,274,660 261,231 Exploration costs 1,793,549 1,340,898 640,556 Development costs 11,264,075 7,367,020 8,084,283 ​ 13,057,624 10,490,485 11,655,030 (1) For 2020, it corresponds mainly to the acquisition of the entire participation in the Guajira Association ( 43% of the association contract) by Hocol and its position as operator. In July 2019, Ecopetrol and Occidental Petroleum Corp. (OXY) entered into a Joint Operation contract in order to execute a joint plan for the development of unconventional drilling in the Permian Basin in the state of Texas (USA). (2) During 2020, Ecopetrol through its subsidiary Ecopetrol Óleo e Gás do Brasil Ltda acquired 30% of the interests, rights and obligations in two areas that correspond to the BM-S-54 Concession Agrement and the Sul de Gato do Mato Shared Production Contract, located offshore in Santos basin of Brazil, in the discovery of hydrocarbons called "Gato do Mato". Additionally, Ecopetrol Óleo e Gás do Brasil Ltda has recognized the billing related to activities of drilling during the year. On July 17, 2020, the Ministry of Mines and Energy of Brazil authorized the transfer of 10% of the Saturn block for USD $85 million, located in the Santos basin, to Ecopetrol Óleo e Gás do Brasil, this percentage of which Shell Brasil Petróleo Ltda and Chevron Brasil Óleo e Gas Ltda. were equal holders. In the new shareholding structure, Ecopetrol retains 10% of the interests of the block, while Shell (operator) and Chevron each retain 45% of the total.
Schedule of results of operations for oil and gas exploration and production activities	34.3 Results of operations for oil and gas exploration and production activities The Ecopetrol Business Group’s results of operations from oil and gas exploration and production activities for the years ended December 31, 2021, 2020 and 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Net revenues Sales 50,631,272 30,141,662 42,070,018 Transfers 12,617,680 7,025,839 11,564,358 ​ 63,248,952 37,167,501 53,634,376 Production costs(1) 12,554,338 12,753,880 9,336,387 Depreciation, depletion, and amortization(2) 6,623,891 6,393,506 6,049,543 Other production costs(3) 21,156,904 14,005,669 21,550,907 Exploration expenses(4) 960,247 689,204 763,562 Other expenses(5) 3,090,128 2,227,481 4,163,241 ​ 44,385,508 36,069,740 41,863,640 Income before income tax expense 18,863,444 1,097,761 11,770,736 Income tax expense (5,652,743) (233,255) (2,107,363) Results of operations for exploration and production activities 13,210,701 864,506 9,663,373 (1) Production costs are lifting costs incurred to operate and maintain productive wells and related equipment and facilities including costs such as operating labor, materials, supplies, and fuel consumed in operations and the costs of operating natural gas liquids plants. In addition, they include expenses related to the asset retirement obligations that were recognized during 2021, 2020 and 2019 of $292,329 , $213,925 , and $198,394 , respectively. (2) In accordance with IAS 37, the expense related to asset retirement obligations that were recognized during 2021, 2020 and 2019 in depreciation, depletion, and amortization, were $887,725, $639,123, and $272,147 , respectively. (3) Includes transportation costs and naphtha that are not part of the Ecopetrol Business Group’s lifting cost. (4) Exploration expenses include the costs of geological and geophysical activities, as well as the non–productive exploratory wells. (5) Corresponds to administration, marketing expenses and impairment.
Schedule of proved developed and undeveloped oil and gas reserve quantities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2020 ​ 2019 ​ ​ Oil ​ Gas ​ Total ​ Oil ​ Gas ​ Total ​ Oil ​ Gas ​ Total ​ (Mbls) (Gpc) (Mbe) (Mbls) (Gpc) (Mbe) (Mbls) (Gpc) (Mbe) Proved reserves: Opening balance 1,257 2,921 1,770 1,384 2,906 1,894 1,200 3,002 1,727 Revisions of previous estimates(1) 240 431 315 (81) 51 (72) 75 51 84 Improved recovery 120 107 139 100 74 113 94 3 94 Purchases — — — — 171 30 142 126 164 Extensions and discoveries 12 — 12 41 8 42 66 2 67 Sales ​ (3) ​ (4) ​ (3) ​ (1) ​ (0) ​ (1) ​ — ​ — ​ — Production (177) (304) (231) (186) (289) (236) (193) (278) (242) Closing balance 1,449 3,151 2,002 1,257 2,921 1,770 1,384 2,906 1,894 Proved developed reserves: ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening balance 834 2,636 1,297 898 2,662 1,365 883 2,882 1,389 Closing balance 921 2,561 1,370 834 2,636 1,297 898 2,662 1,365 Proved undeveloped reserves: ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening balance 423 285 473 486 244 529 317 119 338 Closing balance 528 590 632 423 285 473 486 244 529 Some values were rounded for presentation purposes. (1) Represents changes in previous proved reserves, upward or downward, resulting from new information (except for an increase in a proved area), usually obtained from development drilling and production history or result from changes in economic factors.
Schedule of standardized measure of discounted future cash flows relating to proved crude oil and gas eserves	The standardized measure of discounted future net cash flows related to the above proved crude oil and natural gas reserves is calculated in accordance with the requirements of ASU 2010–03. Estimated future cash inflows from production under SEC requirements are computed by applying unweighted arithmetic average of the first day–of–the–month for oil and gas price to year–end quantities of estimated net proved reserves, with cost factors based on those at the end of each year, currently enacted tax rates and a 10% annual discount factor. In our view, the information so calculated does not provide a reliable measure of future cash flows from proved reserves, nor does it permit a realistic comparison to be made of one entity with another because the assumptions used cannot reflect the varying circumstances within each entity. In addition, a substantial but unknown proportion of future real cash flows from oil and gas production activities is expected to derive from reserves which have already been discovered, but which cannot yet be regarded as proved. ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Future cash inflows 401,980,640 187,210,379 279,722,107 Future costs ​ ​ ​ Production (1) (129,109,036) (85,989,384) (93,589,960) Development (38,451,863) (28,752,131) (32,734,702) Income taxes (69,053,224) (13,470,352) (37,077,231) Future net cash flow 165,366,517 58,998,512 116,320,214 10% discount factor (57,009,654) (18,568,308) (36,934,889) Standardized measure of discounted net cash flows 108,356,863 40,430,204 79,385,325 (1) Production future costs include the estimated costs related to assets retirement obligations in the amount of $17,364,520; $12,545,574 and $10,665,315 as of December 31, 2021, 2020, and 2019, respectively.
Schedule of principal sources of change in standardized measure of discounted future net cash flows	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Net change in sales and transfer prices and in production cost (lifting) related to future production 110,224,660 (44,482,725) 2,411,040 Changes in estimated future development costs (22,011,659) (5,401,560) (12,627,361) Sales and transfer of oil and gas produced net of production costs (50,694,613) (24,413,621) (44,297,989) Net change due to extensions, discoveries, and improved recovery 6,741,068 3,134,469 7,061,712 Net change due to purchase and sales of minerals in place (13,419) 570,460 213,539 Net change due to revisions in quantity estimates 32,923,680 (3,414,649) 6,756,418 Previously estimated development costs incurred during the period 32,941,335 7,943,239 23,200,357 Accretion of discount 10,468,951 10,468,951 11,542,289 Timing and other (16,636,925) 567,027 (4,993,389) Net change in income taxes (36,016,420) 16,073,288 3,814,269 Aggregate change in the standardized measure of discounted future net cash flows for the year 67,926,658 (38,955,121) (6,919,115)

Exhibit 1 - Consolidated subs_2

Exhibit 1 - Consolidated subsidiaries, associates, and joint ventures (Tables)	12 Months Ended
	Dec. 31, 2021
Exhibit 1 - Consolidated subsidiaries, associates, and joint ventures - Consolidated subsidiary companies
Disclosure of interests in subsidiaries	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) of ​ Total ​ Total Company currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Equity ​ the year ​ assets ​ liabilities Subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Refinería de Cartagena S.A.S. US Dollar 100 % Refining of hydrocarbons, commercialization and distribution of products Colombia Colombia 17,933,857 (1,238,939) 33,094,487 15,160,630 Cenit transporte y logística de hidrocarburos S.A.S. ​ Colombian Peso ​ 100 % Storage and transport by pipelines of hydrocarbons ​ Colombia ​ Colombia ​ 16,408,773 ​ 4,784,348 ​ 18,586,004 ​ 2,177,231 ​ Ecopetrol Global Energy S.L.U. ​ US Dollar ​ 100 % Investment Vehicle ​ Spain ​ Spain ​ 12,083,224 ​ 240,792 ​ 12,083,538 ​ 314 ​ Oleoducto Central S.A.S - Ocensa ​ US Dollar ​ 72,65 % Transportation by crude oil pipelines ​ Colombia ​ Colombia ​ 3,177,600 ​ 2,353,602 ​ 7,071,850 ​ 3,894,250 ​ Hocol Petroleum Limited. US Dollar 100 % Investment Vehicle Bermuda Bermuda 3,761,673 453,876 3,791,829 30,156 Ecopetrol América LLC. US Dollar 100 % Exploration and exploitation of hydrocarbons United States United States 2,962,647 258,622 3,461,610 498,963 Hocol S.A. US Dollar 100 % Exploration and exploitation of hydrocarbons Cayman Islands Colombia 3,258,783 483,792 4,931,264 1,672,481 Esenttia S.A. US Dollar 100 % Production and commercialization of polypropylene resin Colombia Colombia 2,322,456 287,425 3,296,001 973,545 Ecopetrol Capital AG US Dollar 100 % Collection of surpluses from, and providing funds to, companies of Ecopetrol Business Group Switzerland Switzerland 2,404,032 218,723 9,007,535 6,603,503 Oleoducto Bicentenario de Colombia S.A.S. Colombian Peso 100 % Transportation by crude oil pipelines Colombia Colombia 1,426,391 731,832 2,759,984 1,333,593 Oleoducto de Colombia S. A. – ODC Colombian Peso 73 % Transportation by crude oil pipelines Colombia Colombia 432,870 375,475 669,876 237,006 Black Gold Re Ltd. US Dollar 100 % Reinsurer for companies of Ecopetrol Business Group Bermuda Bermuda 987,442 15,284 1,267,465 280,023 Andean Chemicals Ltd. US Dollar 100 % Investment Vehicle Bermuda Bermuda 1,605,929 152,357 1,606,253 324 Oleoducto de los Llanos Orientales S. A. - ODL Colombian Peso 65 % Transportation by crude oil pipelines Panama Colombia 991,866 406,590 1,434,010 442,144 Interconexión Eléctrica S.A. E.S.P (1) Colombian Peso 51,41 % Public transmission service of electric power, the development of infrastructure projects and their commercial exploitation and the development of information technology systems, activities and services and telecommunications. Colombia Latin-America 22,132,996 509,125 61,698,188 39,565,192 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) of ​ Total ​ Total Company ​ currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Equity ​ the year ​ assets ​ liabilities Inversiones de Gases de Colombia S.A. Invercolsa S.A. ​ Colombian Peso ​ 51.88 % Holding with investments in natural gas and LPG transportation and distribution companies in Colombia ​ Colombia ​ Colombia ​ 656,135 ​ 276,422 ​ 659,053 ​ 2,918 Alcanos de Colombia S.A. E.S.P. (2) Colombian Peso 29.61 % Residential public fuel gas service, construction and operation of gas pipelines, distribution networks, regulation, measurement, and compression stations. Colombia Colombia 370,507 107,960 773,501 402,994 Metrogas de Colombia S.A E.S.P. (2) Colombian Peso 33.49 % 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 65,787 17,620 121,984 56,197 Gases del Oriente S.A. E.S.P. (2) Colombian Peso 48.50 % Home public service of distribution of fuel gas and the development of all complementary activities to the supplying of said service. Colombia Colombia 122,172 57,780 194,729 72,557 Promotora de Gases del Sur S.A. E.S.P. (2) ​ Colombian Peso ​ 31.44 % Promote the linking of national or foreign capital, public or private, to achieve the gas massification project. ​ Colombia ​ Colombia ​ 58,638 ​ 22,846 ​ 82,268 ​ 23,630 Combustibles Líquidos de Colombia S.A E.S.P. (2) ​ Colombian Peso ​ 41.61 % Wholesale marketing of fuel gas, the supplying of the residential public service of LPG distribution and the development of complementary activities to supply the service. ​ Colombia ​ Colombia ​ 58,964 ​ 3,876 ​ 75,171 ​ 16,207 Gasoducto de Oriente S.A (2) ​ Colombian Peso ​ 31.61 % Design and construction of hydrocarbon production and treatment plants, construction of hydrocarbon transmission lines. ​ Colombia ​ Colombia ​ 556 ​ (29) ​ 584 ​ 28 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) of ​ Total ​ Total Company ​ currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Equity ​ the year ​ assets ​ liabilities Ecopetrol USA Inc. US Dollar 100% ​ Exploration and exploitation of hydrocarbons United States United States 10,195,017 581,820 10,202,943 7,926 Ecopetrol Permian LLC. US Dollar 100% ​ Exploration and exploitation of hydrocarbons United States United States 5,355,562 373,104 5,932,250 576,688 Ecopetrol Oleo é Gas do Brazil Ltda. Real 100% ​ Exploration and exploitation of hydrocarbons Brazil Brazil 1,774,650 (212,853) 1,861,482 86,832 Esenttia Masterbatch Ltda. ​ Colombian Peso ​ 100% ​ Manufacture of polypropylene compounds and masterbatches ​ Colombia ​ Colombia ​ 430,162 ​ 274,562 ​ 564,140 ​ 133,978 Ecopetrol del Perú S. A. ​ US Dollar ​ 100% ​ Exploration and exploitation of hydrocarbons ​ Peru ​ Peru ​ 61,103 ​ (341) ​ 63,492 ​ 2,389 ECP Hidrocarburos de México S.A. de C.V. ​ US Dollar ​ 100% ​ Offshore exploration ​ Mexico ​ Mexico ​ 52,454 ​ (126,458) ​ 57,096 ​ 4,642 Ecopetrol Costa Afuera S.A.S. ​ Colombian Peso ​ 100% ​ Offshore exploration ​ Colombia ​ Colombia ​ 13,447 ​ 90 ​ 16,952 ​ 3,505 Esenttia Resinas del Peru SAC US Dollar 100% ​ Commercialization polypropylene resins and masterbatches Peru Peru 12,240 4,555 67,144 54,904 Topili Servicios Administrativos S de RL De CV. Mexican Peso 100% ​ Specialized management services Mexico Mexico 46 (31) 48 2 Kalixpan Servicios Técnicos S de RL De CV. Mexican Peso 100% ​ Specialized services related to oil and gas industry Mexico Mexico 53 (28) 55 2 Ecopetrol Singapore PTE. LTD Singapore dollar 100% ​ Holding company with investment in an international trading company for crude oil and refined products Singapore Asia 258 (48) 261 3 Ecopetrol Trading Asia PTE. LTD Singapore dollar 100% ​ International trading of crude oil and refined products Singapore Asia 251 (46) 31,051 30,800
Disclosure of subsidiaries, associates, and joint ventures Interconexion Electrica S.A. ESP	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ Geographic ​ ​ ​ ​ Company ​ Functional ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ Profit (loss) of ​ ​ ​ Total Associates ​ currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Equity ​ the year ​ Total assets ​ liabilities Serviport S.A. (3) Colombian Peso 49 % Services for the support of loading and unloading of oil ships, supply of equipment, technical inspections, and load measurements Colombia Colombia 19,181 2,079 43,731 24,550 Sociedad Portuaria Olefinas y Derivados S.A. (4) Colombian Peso 50 % Construction, use, maintenance and administration of port facilities, ports, private docks. Colombia Colombia 4,372 (734) 6,996 2,624 Joint Ventures Equion Energía Limited US Dollar 51 % Exploration and exploitation of hydrocarbons United Kingdom Colombia 2,960,397 52,934 3,057,870 97,473 Ecodiesel Colombia S.A. (4) Colombian Peso 50 % Production, trading and distribution of biofuels and oleochemicals Colombia Colombia 128,037 51,656 232,253 104,216 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ Geographic ​ ​ ​ ​ ​ Profit ​ ​ ​ ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ ​ ​ ​ ​ (loss) of Company Functional currency Ecopetrol ​ Activity Domicile operations Assets ​ Liabilities ​ Equity the year Subsidiaries, associates, and joint ventures Interconexión Eléctrica S.A. ESP ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consorcio Transmantaro US Dollar 60 % Electric power ​ Peru Peru 7,250,457 ​ 5,578,049 ​ 1,672,408 234,866 Interligação Eléctrica Evrecy Brazilian real 35.82 % Electric power ​ Brazil Brazil 79,166 ​ 9,677 ​ 69,489 (8,716) Fundo de Investimento Assis Brazilian real 35.73 % Autonomous Fund – Special Purpose Entity ​ Brazil Brazil 27,170 ​ 2 ​ 27,168 3,669 Fundo de Investimento Barra Bonita Renda Fixa Referenciado Brazilian real 35.77 % Autonomous Fund – Special Purpose Entity ​ Brazil Brazil 78,920 ​ 4 ​ 78,916 1,637 Fundo de Investimento Referenciado di Bandeirantes Brazilian real 13.10 % Autonomous Fund – Special Purpose Entity ​ Brazil Brazil 158,035 ​ 13 ​ 158,022 8,553 Fundo de Investimento Xavantes Referenciado di Brazilian real 15.69 % Autonomous Fund – Special Purpose Entity ​ Brazil Brazil 321,759 ​ 23 ​ 321,736 16,238 Interconexiones Viales Chilean peso 65 % Roads concessions ​ Chile Chile 6,752 ​ 1,078 ​ 5,674 (3,396) Interligação Elétrica Aguapeí Brazilian real 35.82 % Electric power ​ Brazil Brazil 482,218 ​ 80,582 ​ 401,636 77,267 Interligação Elétrica Biguaçu Brazilian real 35.82 % Electric power ​ Brazil Brazil 250,337 ​ 19,312 ​ 231,025 (2,723) Interligação Elétrica De Minas Gerais Brazilian real 35.82 % Electric power ​ Brazil Brazil 113,493 ​ 7,885 ​ 105,608 6,597 Interligação Elétrica Itapura Brazilian real 35.82 % Electric power ​ Brazil Brazil 147,721 ​ 16,394 ​ 131,327 7,094 Interligação Elétrica Itaquerê Brazilian real 35.82 % Electric power ​ Brazil Brazil 449,766 ​ 94,399 ​ 355,367 68,803 Interligação Elétrica Itaúnes Brazilian real 35.82 % Electric power ​ Brazil Brazil 301,579 ​ 23,100 ​ 278,479 32,447 Interligação Elétrica Norte E Nordeste Brazilian real 35.82 % Electric power ​ Brazil Brazil 389,507 ​ 128,724 ​ 260,783 40,840 Interligação Elétrica Pinheiros Brazilian real 35.82 % Electric power ​ Brazil Brazil 526,781 ​ 73,331 ​ 453,450 89,593 Interligação Elétrica Riacho Grande Brazilian real 35.82 % Electric power ​ Brazil Brazil 41,740 ​ (8,811) ​ 50,551 (3,907) Interligação Elétrica Serra Do Japi Brazilian real 35.82 % Electric power ​ Brazil Brazil 450,593 ​ 65,384 ​ 385,209 62,424 Interligação Elétrica Sul Brazilian real 35.82 % Electric power ​ Brazil Brazil 175,464 ​ 27,833 ​ 147,631 22,352 Interligação Elétrica Tibagi Brazilian real 35.82 % Electric power ​ Brazil Brazil 175,038 ​ 26,632 ​ 148,406 10,973 Internexa Colombian peso 99.42 % Telecommunications and ICT ​ Colombia Colombia 531,292 ​ 423,449 ​ 107,843 21,881 Transamerican Telecomunication S.A. US Dollar 99.42 % Telecommunications and ICT ​ Argentina Argentina 40,568 ​ 19,989 ​ 20,579 (58) Internexa Brazil Operadora de Telecomunicações Brazilian real 99.42 % Telecommunications and ICT ​ Brazil Brazil 249,586 ​ 229,088 ​ 20,498 (10,614) Internexa Chile Chilean peso 98.43 % Telecommunications and ICT ​ Chile Chile 78,415 ​ 56,492 ​ 21,923 4,033 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ Geographic ​ ​ ​ ​ ​ Profit ​ ​ ​ ​ interest ​ ​ ​ Country/ ​ area of ​ ​ ​ ​ ​ ​ ​ (loss) of Company Functional currency Ecopetrol Activity Domicile operations ​ Assets ​ Liabilities Equity the year Subsidiaries, associates, and joint ventures Interconexión Eléctrica S.A. ESP ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Internexa Participações Brazilian real 99.42 % Investment Vehicle ​ Brazil Brazil ​ 19,942 ​ 603 19,339 (10,487) Internexa Peru US Dollar 99.42 % Telecommunications and ICT ​ Peru Peru ​ 320,245 ​ 249,061 71,184 17,440 ISA Bolivia US Dollar 100 % Electric power ​ Bolivia Bolivia ​ 124,619 ​ 8,634 115,985 11,019 ISA Capital Do Brazil Brazilian real 100 % Investment Vehicle ​ Brazil Brazil ​ 3,923,685 ​ 222,115 3,701,570 734,604 ISA CTEEP Brazilian real 35.82 % Electric power ​ Brazil Brazil ​ 19,986,151 ​ 9,713,678 10,272,473 2,096,201 ISA Interchile US Dollar 100 % Electric power ​ Chile Chile ​ 6,769,025 ​ 5,514,461 1,254,564 (297,034) ISA Intercolombia Colombian peso 100 % Electric power ​ Colombia Colombia ​ 279,988 ​ 186,954 93,034 38,093 ISA Intervial Chile Chilean peso 100 % Roads concessions ​ Chile Chile ​ 3,971,874 ​ 822,694 3,149,180 252,450 ISA Intervial Colombia Colombian peso 100 % Roads concessions ​ Colombia Colombia ​ 566 ​ — 566 (7) ISA Inversiones Chile Chilean peso 100 % Investment Vehicle ​ Chile Chile ​ 3,748,138 ​ 6,872 3,741,266 202,436 ISA Inversiones Costera Chile Chilean peso 100 % Investment Vehicle ​ Chile Chile ​ 599,723 ​ 595,633 4,090 (31,127) ISA Inversiones Tolten Chilean peso 100 % Investment Vehicle ​ Chile Chile ​ 43 ​ — 43 10 ISA Investimentos E Participações Brazilian real 100 % Investment Vehicle ​ Brazil Brazil ​ 933,742 ​ 7,980 925,762 216,596 ISA Peru US Dollar 99.98 % Electric power ​ Peru Peru ​ 962,823 ​ 772,002 190,821 48,791 ISA REP US Dollar 60 % Electric power ​ Peru Peru ​ 1,949,243 ​ 1,438,949 510,294 202,971 ISA Transelca Colombian peso 100 % Electric power ​ Colombia Colombia ​ 1,507,616 ​ 580,035 927,581 184,024 Linear Systems RE US dollar 100 % Other business ​ Bermudas Bermudas ​ 130,264 ​ 104,551 25,713 3,710 Proyectos de Infraestructura del Perú US Dollar 100 % Electric power ​ Peru Peru ​ 153,956 ​ 146,612 7,344 704 Ruta Costera Colombian peso 100 % Roads concessions ​ Colombia Colombia ​ 2,680,312 ​ 2,491,025 189,287 (17,385) Ruta de La Araucanía Chilean peso 100 % Roads concessions ​ Chile Chile ​ 762,038 ​ 450,237 311,801 33,805 Ruta de Los Ríos Chilean peso 75 % Roads concessions ​ Chile Chile ​ 226,203 ​ 149,717 76,486 20,336 Ruta del Bosque Chilean peso 100 % Roads concessions ​ Chile Chile ​ 376,464 ​ 264,533 111,931 43,786 Ruta del Loa Chilean peso 100 % Roads concessions ​ Chile Chile ​ 470,016 ​ 246,754 223,262 25,607 Ruta del Maipo Chilean peso 100 % Roads concessions ​ Chile Chile ​ 6,695,805 ​ 4,647,650 2,048,155 214,324 Ruta del Maule Chilean peso 100 % Roads concessions ​ Chile Chile ​ 26,822 ​ 17,337 9,485 (21,212) Sistemas Inteligentes en Red Colombia peso 99.77 % Other business ​ Colombia Colombia ​ 17,265 ​ 7,932 9,333 3,457 XM Colombian peso 99.73 % Electric power ​ Colombia Colombia ​ 245,199 ​ 212,583 32,616 11,290 (1) Corresponds to consolidated financial statements, profit is from four months of operation (September to December), assets and liabilities are presented accumulated. See note 12. (2) Indirect participation through Inversiones de Gases de Colombia S.A. Invercolsa S.A. (3) Information available as of September 30, 2021, the investment of is fully impaired. (4) Information available as of November 30, 2021.

Exhibit 2 - Conditions of the_2

Exhibit 2 - Conditions of the most significant debt (Tables)	12 Months Ended
	Dec. 31, 2021
Exhibit 3 - Conditions of the most significant debt
Disclosure of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ balance ​ balance ​ Interest ​ Amortization ​ Payment of Type of debt ​ Company ​ Issue date ​ Maturity date ​ Currency ​ Disbursement ​ Dec 31, 2021 ​ Dec 31, 2020 ​ rate ​ plan ​ interest ​ Dec-10 Dec-40 COP 284,300 284,300 284,300 Floating Bullet Half-yearly ​ Aug-13 Aug-23 COP 168,600 168,600 168,600 Floating Bullet Half-yearly ​ Ecopetrol S.A. Aug-13 Aug-28 COP 347,500 347,500 347,500 Floating Bullet Half-yearly ​ Aug-13 Aug-43 COP 262,950 262,950 262,950 Floating Bullet Half-yearly ​ Dec-11 Dec-23 COP 180,000 180,000 — Floating Bullet Half-yearly ​ ​ Dec-11 Dec-41 COP 120,000 120,000 — Floating Bullet Half-yearly ​ ​ May-13 May-22 COP 120,000 120,000 — Floating Bullet Quarterly ​ ​ ​ ​ May-13 ​ May-28 ​ COP ​ 100,000 ​ 100,000 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ May-15 May-25 COP 100,000 100,000 — Floating Bullet Quarterly Bonds, ​ ​ May-15 May-30 COP 120,000 120,000 — Floating Bullet Quarterly domestic ​ ​ May-15 May-35 COP 280,000 280,000 — Floating Bullet Quarterly currency ​ Feb-16 Feb-24 COP 115,000 115,000 — Floating Bullet Quarterly ​ ​ Feb-16 Feb-28 COP 152,000 152,000 — Floating Bullet Quarterly ​ ​ Interconexión Feb-16 Feb-41 COP 133,000 133,000 — Floating Bullet Quarterly ​ ​ Eléctrica S.A. ​ Apr-17 ​ Apr-24 ​ COP ​ 260,780 ​ 260,780 ​ — ​ Fixed ​ Bullet ​ Quarterly ​ ​ E.S.P and Apr-17 Apr-32 COP 196,300 196,300 — Floating Bullet Quarterly ​ ​ subsidiaries ​ Apr-17 ​ Apr-42 ​ COP ​ 242,920 ​ 242,920 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ Nov-17 Nov-25 COP 150,080 150,080 — Fixed Bullet Quarterly ​ ​ ​ ​ Nov-17 ​ Nov-31 ​ COP ​ 120,100 ​ 120,100 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ ​ ​ Nov-17 ​ Nov-47 ​ COP ​ 229,820 ​ 229,820 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ Jul-18 Jul-27 COP 156,500 156,500 — Floating Bullet Quarterly ​ ​ Jul-18 Jul-33 COP 142,063 142,063 — Floating Bullet Quarterly ​ ​ Jul-18 Jul-43 COP 201,437 201,437 — Floating Bullet Quarterly ​ Aug-20 Aug-29 COP 160,000 160,000 — Fixed Bullet Quarterly ​ ​ ​ Aug-20 Aug-40 UVR (1) 147,132 147,132 — Fixed Bullet Annual ​ ​ ​ ​ Jul-16 ​ Jan-34 ​ UVR (1) ​ 341,416 ​ 341,416 ​ — ​ Fixed ​ Half-yearly ​ Half-yearly ​ ​ ​ ​ Oct-11 ​ Oct-26 ​ COP ​ 100,000 ​ 100,000 ​ — ​ Floating ​ Bullet ​ Quarterly ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Outstanding ​ ​ ​ ​ ​ ​ Type of ​ Issue Maturity ​ ​ balance balance Interest Amortization Payment of debt ​ Company ​ date ​ date ​ Currency ​ Disbursement ​ Dec 31, 2021 ​ Dec 31, 2020 ​ rate ​ plan ​ interest ​ ​ Sep-13 Sep-23 USD 1,300 1,300 1,300 Fixed Bullet Half-yearly ​ ​ ​ Sep-13 Sep-43 ​ ​ 850 850 850 ​ ​ ​ May-14 May-45 ​ ​ 2,000 2,000 2,000 ​ ​ ​ Sep-14 Jan-25 ​ ​ 1,200 1,200 1,200 ​ ​ Ecopetrol S.A. Jun-15 Jun-26 ​ ​ 1,500 1,500 1,500 ​ ​ ​ Nov-21 Nov-31 ​ ​ 1,250 1,250 — ​ ​ ​ Nov-21 Nov-51 ​ ​ 750 750 — ​ ​ ​ Jun-16 Sep-23 ​ ​ 500 500 500 ​ ​ ​ Apr-20 Apr-30 ​ ​ 2,000 2,000 2,000 ​ Oleoducto Central S.A.S. May-14 May-21 USD 500 500 500 Fixed Bullet Half-yearly ​ ​ Nov-21 Nov-33 ​ 330 330 — Fixed Half-yearly Half-yearly ​ ​ ​ Jul-16 Jan-34 ​ ​ 151 151 — Fixed Half-yearly Half-yearly ​ ​ ​ Jan-11 Jan-26 ​ ​ 38 38 — Fixed Bullet Quarterly Bonds, ​ ​ Oct-12 Apr-31 ​ ​ 40 40 — Fixed Bullet Half-yearly foreign ​ ​ Nov-12 Nov-22 ​ ​ 26 26 — Fixed Bullet Half-yearly currency ​ ​ Feb13 Feb23 ​ ​ 19 19 — Fixed Bullet Half-yearly ​ ​ ​ May-13 May-23 ​ ​ 450 450 — Fixed Bullet Half-yearly ​ ​ ​ Apr-19 Apr-34 ​ ​ 600 600 — Fixed Half-yearly Half-yearly ​ ​ ​ Mar-17 Feb24 ​ ​ 54 54 — Floating Bullet Annual ​ ​ Interconexión May-18 Apr-25 ​ ​ 111 111 — Floating Bullet Half-yearly ​ ​ Eléctrica S.A. Dec-19 Dec-29 ​ ​ 73 73 — Floating Half-yearly Half-yearly ​ ​ E.S.P and Dec-20 Nov-28 ​ USD 143 143 — Floating Half-yearly Half-yearly ​ ​ subsidiaries Dec-20 May-44 ​ ​ 143 143 — Floating Half-yearly Half-yearly ​ ​ ​ Feb21 Jul-44 ​ ​ 121 121 — Floating Half-yearly Half-yearly ​ ​ ​ May-21 May-24 ​ ​ 215 215 — Floating Bullet Bullet ​ ​ ​ Oct-21 Oct-31 ​ ​ 120 120 — Floating Bullet Half-yearly ​ ​ ​ Oct-21 Oct-39 ​ ​ 50 50 — Floating Half-yearly Half-yearly ​ ​ ​ Aug-01 Jun-22 ​ ​ 421 421 — Fixed Half-yearly Half-yearly ​ ​ ​ Aug-18 Jun-25 ​ ​ 213 213 — Fixed Half-yearly Half-yearly ​ ​ ​ Aug-18 Dec-30 ​ ​ 220 220 — Fixed Half-yearly Half-yearly ​ ​ ​ Aug-18 Dec-24 ​ ​ 37 37 — Fixed Half-yearly Half-yearly ​ ​ ​ Jun-19 Dec-30 ​ ​ 183 183 — Fixed Half-yearly Half-yearly ​ ​ ​ Nov-06 Jun-22 ​ ​ 55 55 — Fixed Half-yearly Half-yearly ​ ​ ​ Feb21 Jun-50 ​ ​ 32 32 — Fixed Half-yearly Half-yearly ​ ​ ​ Jul-21 Jun-56 ​ ​ 1,200 1,200 — Fixed Bullet Half-yearly ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Outstanding ​ ​ ​ ​ ​ ​ ​ ​ Issue Maturity ​ ​ balance balance Interest Amortization Payment of Type of debt ​ Company ​ date ​ date ​ Currency ​ Disbursement ​ Dec 31, 2021 ​ Dec 31, 2020 ​ rate ​ plan ​ interest ​ ​ ​ ​ Sep-19 ​ Sep-25 ​ ​ ​ 70 ​ 70 ​ — ​ Fixed ​ Half-yearly ​ Half-yearly ​ ​ ​ ​ Jun-21 ​ Jun-22 ​ ​ ​ 40 ​ 40 ​ — ​ Fixed ​ Bullet ​ Bullet ​ ​ Jun-21 Jun-22 ​ 10 10 — Fixed ​ Bullet ​ Bullet ​ ​ Jun-21 Jun-22 ​ 40 40 — Fixed ​ Bullet ​ Bullet ​ ​ Jun-21 Jun-22 ​ 10 10 — Fixed ​ Bullet ​ Bullet ​ ​ Aug-20 Aug-22 ​ 83 82 — Floating ​ Bullet ​ Bullet ​ ​ Nov-21 Feb22 ​ 62 62 — Fixed ​ Bullet ​ Bullet ​ ​ Feb16 Jul-24 ​ 5 3 — Floating ​ Quarterly ​ Quarterly ​ ​ Jan-14 Mar-29 ​ 51 25 — Floating ​ Monthly ​ Monthly ​ ​ Jan-14 Jan-24 ​ 19 4 — Fixed ​ Monthly ​ Monthly ​ ​ Aug-17 Mar-32 ​ 49 36 — Floating ​ Monthly ​ Monthly ​ ​ Apr-20 Apr-22 ​ 116 116 — Floating ​ Bullet ​ Quarterly ​ ​ Jan-11 May-26 ​ 8 3 — Floating ​ Monthly ​ Monthly ​ ​ Nov-11 May-26 ​ 9 3 — Floating ​ Monthly ​ Monthly ​ ​ Nov-11 May-26 ​ 8 3 — Floating ​ Monthly ​ Monthly ​ ​ May-10 May-30 ​ 39 24 — Fixed ​ Monthly ​ Monthly International Interconexión Nov-17 Dec-22 ​ 5 2 — Floating ​ Monthly ​ Monthly commercial Eléctrica S.A. Mar-20 Aug-24 USD 6 6 — Floating ​ Quarterly ​ Quarterly loans E.S.P and Apr-20 Dec-22 ​ 5 5 — Floating ​ Bullet ​ Monthly ​ subsidiaries Mar-17 Mar-24 ​ 106 17 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-12 Sep-23 ​ 57 9 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Oct-18 Mar-25 ​ 8 8 — Floating ​ Monthly ​ Monthly ​ ​ Mar-17 Mar-24 ​ 57 7 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-12 Sep-23 ​ 32 4 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Mar-17 Mar-24 ​ 44 10 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-12 Sep-23 ​ 23 5 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ May-21 Mar-24 ​ 11 11 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ May-21 Mar-24 ​ 6 6 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-16 Aug-22 ​ 66 10 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-16 Aug-22 ​ 12 4 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Jan-19 Dec-22 ​ 6 4 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ Sep-18 Jun-50 ​ 12 16 — Fixed ​ Monthly ​ Monthly ​ ​ May-21 May-25 ​ 105 105 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ May-21 May-26 ​ 70 70 — Fixed ​ Half-yearly ​ Half-yearly ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Outstanding ​ ​ ​ ​ ​ ​ ​ ​ Issue Maturity ​ ​ balance balance Interest Amortization Payment of Type of debt Company date date Currency Disbursement 31-Dec-21 31-Dec-20 rate plan interest International ​ ​ ​ Dec-17 ​ Dec-27 ​ USD ​ 2,001 ​ 1,100 ​ 1,305 ​ Fixed ​ Half-yearly ​ Half-yearly commercial ​ ​ ​ Dec-17 ​ Dec-27 ​ ​ ​ 76 ​ 41 ​ 49 ​ Floating ​ ​ ​ ​ loans - Ecopetrol S.A. Dec-17 Dec-27 ​ 73 40 ​ 48 ​ Fixed ​ ​ ​ ​ Refinería de ​ Dec-17 Dec-27 ​ 159 87 ​ 103 ​ Floating ​ ​ ​ ​ Cartagena ​ Dec-17 Dec-25 ​ 359 224 ​ 257 ​ Floating ​ ​ ​ ​ International commercial loan –ISA acquisition Ecopetrol S.A. Aug-21 Aug-23 USD 3,672 1,672 — Floating Half-yearly Half-yearly ​ ​ Dec-16 Jan-28 COP 250,000 250,000 — Floating Half-yearly Half-yearly ​ ​ Dec-16 Jan-34 COP 150,000 150,000 — Floating Half-yearly ​ Half-yearly ​ ​ Dec-16 Jan-34 COP 150,000 150,000 — Floating Half-yearly ​ Half-yearly ​ ​ Dec-16 Jan-34 UVR (1) 392,168 161,904 — Fixed Half-yearly ​ Half-yearly Domestic Interconexión Jul-18 Jul-35 COP 217,500 4,651 — Floating Half-yearly ​ Half-yearly commercial Eléctrica S.A Oct-21 Oct-31 COP 158,050 158,050 — Floating Quarterly ​ Quarterly loans E.S.P and Oct-21 Oct-28 COP 70,500 70,500 — Floating Quarterly ​ Quarterly ​ subsidiaries Jun-17 Jun-24 COP 28,000 8,717 — Floating Quarterly ​ Quarterly ​ ​ Aug-17 Aug-24 COP 32,000 23,863 — Floating Quarterly ​ Quarterly ​ ​ Dec-17 Dec-24 COP 10,000 7,472 — Floating Quarterly ​ Quarterly ​ ​ May-18 Nov-28 COP 59,467 59,467 — Floating Half-yearly ​ Half-yearly ​ ​ Nov-18 Nov-28 COP 23,000 23,000 — Floating Half-yearly ​ Half-yearly Committed credit line Ecopetrol S.A. Apr-20 Sep-23 USD 665 665 665 Floating Bullet Half-yearly Domestic syndicated commercial loan Oleoducto Bicentenario Jul-12 Jul-24 COP 2,100,000 592,550 800,450 Floating Quarterly Quarterly ​ (1)

Reporting entity (Details)

Reporting entity (Details)	Dec. 31, 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) $ in Millions	Aug. 20, 2021countryitemsubsidiary	Nov. 29, 2019	Dec. 31, 2020USD ($)
Basis for presentation
Decrease in net assets due to loss of control | $			$ 65,570
Number of subsidiaries | subsidiary	50
Number of joint ventures	11
Number of associate	1
Number of countries in which the company operates | country	6
Invercolsa
Basis for presentation
Percentage of voting equity interests acquired		8.53%
Percentage of interest held in Ecopetrol Singapore		51.88%
Interconexin Elctrica S.A. ESP
Basis for presentation
Percentage of interest held in Ecopetrol Singapore	51.40%

Accounting policies (Details)

Accounting policies (Details)	12 Months Ended
	Dec. 31, 2021
Plant and equipment [member] | Bottom of range
Disclosure of accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Plant and equipment [member] | Top of range
Disclosure of accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	55 years
Pipelines, networks and lines [member] | Bottom of range
Disclosure of accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Pipelines, networks and lines [member] | Top of range
Disclosure of accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	63 years
Buildings [member] | Bottom of range
Disclosure of accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	10 years
Buildings [member] | Top of range
Disclosure of accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	100 years
Other. [Member] | Bottom of range
Disclosure of accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	3 years
Other. [Member] | Top of range
Disclosure of accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	35 years

Accounting policies - Additiona

Accounting policies - Additional Information (Details)	Dec. 31, 2021
Disclosure of accounting policies [Line Items]
Percentage of interest rate on accumulated severance amount	12.00%
Bottom of range
Disclosure of accounting policies [Line Items]
Percentage of voting equity interests acquired	20.00%
Top of range
Disclosure of accounting policies [Line Items]
Percentage of voting equity interests acquired	50.00%

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents.
Banks	$ 11,080,569	$ 4,215,518
Short-term investments	3,467,859	866,606
Cash	1,478	184
Cash and cash equivalents	$ 14,549,906	$ 5,082,308	$ 7,075,758	$ 6,311,744

Cash and cash equivalents - Cre

Cash and cash equivalents - Credit quality of banks in Ecopetrol Business Group has deposits and check accounts, and issuers of investments (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
IFRS Statement [Line Items]
Cash and cash equivalents	$ 14,549,906	$ 5,082,308	$ 7,075,758	$ 6,311,744
AAA [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	3,892,694	2,578,090
F1+ [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	2,383,713	1,286,310
BRC 1 [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	1,671	2,336
A-1 [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	1,294,164	851,394
BBB [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	1,277,357	121
A [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	1,224,990	4,319
F1 [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	1,177,581	207,773
AA [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	526,127	546
P-2 [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	370,582	0
BB [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	106,070	0
AAA 2 [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	27,621	1,431
AAAf [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	19,481	28,552
BRC1+ [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	2,172,603	99,923
B [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	14,674	0
F3 [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	12,853	12,184
Aa3 [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	11,239	0
C [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	6,615	0
CCC [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	4,872	0
A3 [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	3,049	0
AAAmmf [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	0	2,162
AA- [Member]
IFRS Statement [Line Items]
Cash and cash equivalents	0	22
A1 [member]
IFRS Statement [Line Items]
Cash and cash equivalents	1,032	0
Other.
IFRS Statement [Line Items]
Cash and cash equivalents	$ 20,918	$ 7,145

Cash and cash equivalents - Add

Cash and cash equivalents - Additional Information (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents.
Restricted cash	$ 71,979	$ 11,682
Operating capacity	$ 1,039,024
Average rate of return earned on cash and cash equivalent	2.60%	2.20%

Trade and other receivables (De

Trade and other receivables (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Customers and concessions
Foreign	$ 6,155,070	$ 2,021,070
Domestic	3,355,716	1,913,106
Fuel price stabilization fund	7,824,788	319,927
Employee loans	106,547	97,723
Industrial services	32,096	39,651
Related parties	9,355	105,048
Others	965,310	322,567
Total current	18,448,882	4,819,092
Non-current
Employee loans	534,051	474,693
Foreign customers	19,622,925
Domestic customers	1,852,111	51,955
Related parties	335
Others	2,150,294	149,959
Total non-current	$ 24,159,716	$ 676,607

Trade and other receivables - A

Trade and other receivables - Allowance for doubtful accounts (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Trade and other receivables, net
Opening balance	$ 291,144	$ 282,791	$ 268,654
(Recoveries) additions, net	(7,459)	16,253	14,158
Effect of business combination	474,654	0	0
Effect of change of control in subsidiaries	0	(5,517)	0
Accounts receivable write-off and uses	(8,148)	(2,383)	(21)
Closing balance	$ 750,191	$ 291,144	$ 282,791

Trade and other receivables -_2

Trade and other receivables - Additional Information (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
IFRS Statement [Line Items]
Foreign	$ 6,155,070	$ 2,021,070
Domestic	3,355,716	1,913,106
Interconexion Electrica S.A
IFRS Statement [Line Items]
Accounts receivable for road concessions from operating sevices	1,796,456
ISA
IFRS Statement [Line Items]
Gross accounts receivable	1,772,101
Provision for expected losses, included in provision line for expected credit losses	368,299
Net book value of accounts receivable included in others	1,403,802
Energy power transmission and telecommunication services
IFRS Statement [Line Items]
Foreign	1,067,581
Domestic	309,282
Energy transmission | Brazil [Member]
IFRS Statement [Line Items]
Gross accounts receivable	13,661,459
Energy transmission | Peru Country [Member]
IFRS Statement [Line Items]
Gross accounts receivable	88,939
Energy transmission | Chile Country [Member]
IFRS Statement [Line Items]
Gross accounts receivable	5,872,527
Foreign concessions
IFRS Statement [Line Items]
Foreign	2,238,208
National concessions
IFRS Statement [Line Items]
Domestic	$ 438,411
Ecopetrol.
IFRS Statement [Line Items]
Stabilization fund paid		3,071,000
Reficar
IFRS Statement [Line Items]
Stabilization fund paid		$ 782,468

Inventories (Details)

Inventories (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventories, net
Crude oil	$ 3,305,965	$ 1,719,426
Fuels and petrochemicals	2,845,486	1,407,297
Materials for goods production	2,246,761	1,927,237
Inventories, net	$ 8,398,212	$ 5,053,960

Inventories - Changes of the al

Inventories - Changes of the allowances for losses (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Inventories, net
Opening balance	$ (109,549)	$ (131,526)	$ (86,938)
(Additions) reversals, net	(58,437)	(9,748)	(44,191)
Increase due to business combination	(2,837)
Foreign currency translation	(1,449)	(122)	371
Effect of change of control in subsidiaries	0	20,075
Other	44,610	11,772	(768)
Closing balance	$ (127,662)	$ (109,549)	$ (131,526)

Inventories - Additional Inform

Inventories - Additional Information (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Inventories, net
Inventories adjustment	$ 23,785	$ 9,017	$ 9,759

Other financial assets (Details

Other financial assets (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets measured at fair value through profit or loss
Other financial assets	$ 2,934,734	$ 3,071,659
Current	1,627,150	2,194,651
Non-current	1,307,584	877,008
Financial assets at fair value, class [member]
Assets measured at fair value through profit or loss
Financial assets at fair value through profit or loss	2,559,472	3,068,268
Hedging instruments [Member]
Assets measured at fair value through profit or loss
Other financial assets	17,449	98,877
Assets measured at fair value through other comprehensive income [Member]
Assets measured at fair value through profit or loss
Other financial assets	2,789	732
Assets measured at amortized cost [Member]
Assets measured at fair value through profit or loss
Financial assets at fair value through profit or loss	375,262	3,391
Investment in equity securities and trust funds
Assets measured at fair value through profit or loss
Financial assets at fair value through profit or loss	606,624	0
Other local currency
Assets measured at fair value through profit or loss
Financial assets at fair value through profit or loss	759,892	474,535
Other foreign currency
Assets measured at fair value through profit or loss
Financial assets at fair value through profit or loss	$ 1,172,718	$ 2,494,124

Other financial assets - Maturi

Other financial assets - Maturity (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Other financial assets [Line Items]
Other financial assets.	$ 2,934,734	$ 3,071,659
Up to 1 year
Disclosure of Other financial assets [Line Items]
Other financial assets.	1,627,150	2,194,651
1 - 2 years
Disclosure of Other financial assets [Line Items]
Other financial assets.	434,372	101,216
2 - 5 years
Disclosure of Other financial assets [Line Items]
Other financial assets.	786,760	573,420
> 5 years
Disclosure of Other financial assets [Line Items]
Other financial assets.	$ 86,452	$ 202,372

Other financial assets - Other

Other financial assets - Other financial assets by fair value hierarchy level (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Other financial assets [Line Items]
Financial assets, at fair value	$ 1,973,514	$ 3,068,268
Level 1
Disclosure of Other financial assets [Line Items]
Financial assets, at fair value	834,057	5,273
Level 2
Disclosure of Other financial assets [Line Items]
Financial assets, at fair value	$ 1,139,457	$ 3,062,995

Other financial assets - Credit

Other financial assets - Credit quality of the issuers of other financial assets (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
IFRS Statement [Line Items]
Other financial assets measured at fair value through profit	$ 2,934,734	$ 3,071,659
A-1
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	119,461	1,107,777
BBB- [member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	0	758,472
F1+ [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	319,253	551,626
AAA [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	1,158,794	353,939
A3 [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	0	127,861
A+ [member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	42,821	60,692
F1
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	0	43,839
F3 [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	8,990	0
B [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	158,814	0
BB [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	7,412	0
BB+ [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	954,212	0
AA- [member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	0	21,263
A [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	12,204	21,179
AA [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	0	7,759
AA+ [member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	6,075	5,332
BBB [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	7,112	0
Other
IFRS Statement [Line Items]
Other financial assets measured at fair value through profit	64,518	11,920
BRC1+ [Member]
IFRS Statement [Line Items]
Financial assets at fair value through profit or loss	$ 75,068	$ 0

Other financial assets - Additi

Other financial assets - Additional Information (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Other financial assets [line Items]
Long-term restricted funds having specific destination to investment projects	$ 138,688	$ 138,688
Colombian pesos [Member]
Disclosure of Other financial assets [line Items]
Average rate of return on investments	2.23%	5.60%
USD$ Million
Disclosure of Other financial assets [line Items]
Average rate of return on investments	0.10%	2.30%

Taxes - Current and Non-current

Taxes - Current and Non-current tax assets and liabilities (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Tax assets
Current tax assets	$ 6,273,802	$ 3,976,295
Non-current tax assets	9,030,132	8,071,733
Tax liabilities
Current tax liabilities	2,152,104	1,243,883
Non-current tax liabilities	12,124,520	1,866,054
Deferred tax liabilities [member]
Tax liabilities
Non-current tax liabilities	10,850,463	1,639,206
Income Tax credits [Member]
Tax liabilities
Non-current tax liabilities	65,130	226,848
Income tax payable [Member]
Tax liabilities
Current tax liabilities	1,298,524	811,197
Industry and commerce Tax [Member]
Tax liabilities
Current tax liabilities	247,966	161,813
National tax and surcharge on gasoline [Member]
Tax liabilities
Current tax liabilities	192,665	137,710
Carbon tax [Member]
Tax liabilities
Current tax liabilities	66,006	64,091
Value added tax [Member]
Tax liabilities
Current tax liabilities	157,452	5,607
Other taxes, liabilities [Member]
Tax liabilities
Current tax liabilities	189,491	63,465
Non-current tax liabilities	1,208,927	0
Deferred tax assets [Member]
Tax assets
Non-current tax assets	9,024,858	7,673,912
Income tax credits [Member]
Tax assets
Non-current tax assets	5,274	397,821
Income tax [member]
Tax assets
Current tax assets	1,739,542	1,823,027
Credit tax balance [Member]
Tax assets
Current tax assets	3,108,175	1,311,693
Other taxes, assets [Member]
Tax assets
Current tax assets	$ 1,426,085	$ 841,575

Taxes - Income tax expense (Det

Taxes - Income tax expense (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Taxes
Current income tax	$ 6,975,549	$ 2,861,606	$ 7,117,040
Deferred income tax	1,939,567	(791,824)	(2,365,108)
Deferred income tax due to change in tax rate	(28,993)
Adjustments to prior years' current and deferred tax	(90,860)	(31,121)	(33,519)
Income tax expense	$ 8,795,263	$ 2,038,661	$ 4,718,413

Taxes - Reconciliation of the i

Taxes - Reconciliation of the income tax expenses (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2019COP ($)
Disclosure of detailed information about income tax [Line Items]
Net income before income tax	$ 26,425,817		$ 4,776,514	$ 19,723,568
Statutory rate	31.00%	31.00%	32.00%	33.00%
Income tax at statutory rate	$ 8,192,003		$ 1,528,484	$ 6,508,777
Effective tax rate reconciliation items:
Non-deductible expenses	1,581,472		277,007	295,550
Reversal of deferred tax recognized in prior years	0		245,508	0
Rate differential adjustment	(304,176)		14,974	132,888
Impairment of non-current assets	0		0	57,646
Variation in equity accounting method in Invercolsa	0		0	(2,943)
Non-taxable income	(517,483)		(35,471)	(524,658)
Prior years' taxes	(90,860)		(31,121)	(33,519)
Foreign currency translation and exchange difference	(149,035)		59,852	(54,319)
Tax discounts and tax credit	(173,154)		(20,572)	(110,857)
Ecopetrol U.S.A. adjustment income tax	0		0	(1,550,152)
Tax deferred liability by investments	285,489		0	0
Effect of tax reform	(28,993)		0	0
Income tax expense	8,795,263		2,038,661	4,718,413
Increase of the non-deductible expenses by adjustments for exchange difference	$ 371,471	$ 1,192,108	$ (80,507)	$ (28,877)
Effective tax rate	33.30%	33.30%	42.70%	23.90%
Current	$ 6,940,660		$ 2,583,832	$ 7,127,492
Deferred income tax	1,854,603		(545,171)	(2,409,079)
Income tax expense	8,795,263		$ 2,038,661	$ 4,718,413
Ecopetrol Capital AG [Member]
Effective tax rate reconciliation items:
Nominal rate profit value	52,026
Ecopetrol Permian
Effective tax rate reconciliation items:
Nominal rate profit value	112,030
Esenttia Masterbatch Ltd [Member]
Effective tax rate reconciliation items:
Nominal rate profit value	$ 51,279

Taxes - Deferred income tax (De

Taxes - Deferred income tax (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Taxes
Deferred tax assets	$ 9,024,858	$ 7,673,912
Deferred tax liabilities	(10,850,463)	(1,639,206)
Net deferred income tax	$ (1,825,605)	$ 6,034,706

Taxes - Deferred tax assets and

Taxes - Deferred tax assets and liabilities (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)	Dec. 31, 2020COP ($)	Dec. 31, 2019COP ($)	Dec. 31, 2018COP ($)	Dec. 31, 2017COP ($)
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	$ (1,825,605)	$ 6,034,706	$ 5,480,516	$ 2,541,484	$ 2,541,484
Deferred tax asset attributable to deductible operating loss carryforwards	20 years
Percentage of foreign change relating to loans and borrowings	16.00%
Deferred tax liabilities business combination	$ (997,516)
Deferred tax liabilities business combination related to acquisition	(1,756,893)
Deferred tax liabilities arising from natural and environmental resources	(2,991,429)
Deferred tax liabilities exploraion costs	28,029
Deferred tax liabilities on foreign concessions	4,118,455
Deferred tax liabilities others	109,156
Deferred tax liabilities partnership interest	(469,499)
Deferred tax liabilities property plant and equipment	$ (1,141,923)
Applicable tax rate for fixed assets	35
Ecopetrol America
Disclosure Of Taxes [Line Items]
Operating loss carryforwards, Subject to expiration	$ 1,591,781
Deferred tax assets operating loss carry forwards not subject to expiration	765,914
Refineria De Cartagana [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets operating loss carry forwards not subject to expiration	2,027,433
Deferred tax liabilities property plant and equipment	$ 935,983
Invercolsa
Disclosure Of Taxes [Line Items]
Deferred tax asset attributable to deductible operating loss carryforwards	12 years
Operating loss carryforwards, Subject to expiration	$ 14,626
Deferred tax liabilities property plant and equipment	500,314
Loss carry forwards [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	4,399,754	4,478,606	2,550,816	1,002,062
Provisions [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	4,029,550	3,187,850	2,404,032	1,994,762
Employee benefits [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	1,378,161	1,874,242	1,875,872	1,161,860
Accounts payable [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	13,774	(10,626)	711,503	365,646
Borrowings and other financial liabilities
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	2,735,340	846,019	920,203	827,452
Accounts receivable [Member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	(4,029,534)	183,843	139,410	79,591
Excess presumptive income
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	180,563	61,722	298,273	(37,638)
Others.
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	(1,327,524)	47,269	(15,189)	(143,717)
Goodwill [member]
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	(780,193)	(366,346)	(363,968)	(404,394)
Property plant and equipment and Natural and environmental resources
Disclosure Of Taxes [Line Items]
Deferred tax assets (liabilities)	(8,425,496)	$ (4,267,873)	$ (3,040,436)	$ (2,304,140)
Property plant and equipment and Natural and environmental resources | Refineria De Cartagana [Member]
Disclosure Of Taxes [Line Items]
Excess of Presumptive Income Recognised	$ 180,563

Taxes - Deferred tax (Details)

Taxes - Deferred tax (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2019COP ($)
Disclosure Of Taxes [Line Items]
Opening balance	$ 6,034,706		$ 5,480,516	$ 2,541,484
Profit or loss	(1,854,603)		928,517	2,409,079
Profit or loss	(1,854,603)		928,517
OCI	1,535,151		89,526	656,835
Increase in shareholding in Invercolsa				(98,005)
Increase due to business combination ISA	(7,877,297)		(383,346)	(98,005)
Foreign currency translation	371,471	$ 1,192,108	(80,507)	(28,877)
Deferred tax recognised on dividends	(35,033)
Closing balance	(1,825,605)		6,034,706	5,480,516
Property plant and equipment and Natural and environmental resources
Disclosure Of Taxes [Line Items]
Opening balance	(4,267,873)		(3,040,436)	(2,304,140)
Profit or loss	(366,273)		(844,091)	(736,296)
Increase due to business combination ISA	(3,791,350)		(383,346)
Closing balance	(8,425,496)		(4,267,873)	(3,040,436)
Loss carry forwards [Member]
Disclosure Of Taxes [Line Items]
Opening balance	4,478,606		2,550,816	1,002,062
Profit or loss	(78,852)		1,927,790	1,548,754
OCI	0		0	0
Increase due to business combination ISA	0
Closing balance	4,399,754		4,478,606	2,550,816
Provisions [Member]
Disclosure Of Taxes [Line Items]
Opening balance	3,187,850		2,404,032	1,994,762
Profit or loss	841,700		783,818	409,270
OCI	0		0	0
Increase due to business combination ISA	0
Closing balance	4,029,550		3,187,850	2,404,032
Employee benefits [Member]
Disclosure Of Taxes [Line Items]
Opening balance	1,874,242		1,875,872	1,161,860
Profit or loss	183,429		39,608	(57,343)
OCI	(679,510)		(41,238)	771,355
Closing balance	1,378,161		1,874,242	1,875,872
Accounts payable [Member]
Disclosure Of Taxes [Line Items]
Opening balance	(10,626)		711,503	365,646
Profit or loss	24,400		(722,129)	345,857
OCI	0		0	0
Increase due to business combination ISA	0
Closing balance	13,774		(10,626)	711,503
Accounts receivable [Member]
Disclosure Of Taxes [Line Items]
Opening balance	183,843		139,410	79,591
Profit or loss	(94,922)		44,433	59,819
Increase due to business combination ISA	(4,118,455)
Closing balance	(4,029,534)		183,843	139,410
Goodwill [member]
Disclosure Of Taxes [Line Items]
Opening balance	(366,346)		(363,968)	(404,394)
Profit or loss	(39,627)		(2,378)	40,426
Increase due to business combination ISA	(374,220)
Closing balance	(780,193)		(366,346)	(363,968)
Others.
Disclosure Of Taxes [Line Items]
Opening balance	47,269		(15,189)	(143,717)
Profit or loss	(4,982,668)		12,201	369,930
OCI	2,214,661		130,764	(114,520)
Increase in shareholding in Invercolsa				(98,005)
Increase due to business combination ISA	1,056,776
Foreign currency translation	371,471		(80,507)	(28,877)
Deferred tax recognised on dividends	(35,033)
Closing balance	(1,327,524)		47,269	(15,189)
Borrowings and other financial liabilities
Disclosure Of Taxes [Line Items]
Opening balance	846,019		920,203	827,452
Profit or loss	2,539,369		(74,184)	92,751
OCI	0		0	0
Increase due to business combination ISA	(650,048)
Closing balance	2,735,340		846,019	920,203
Excess presumptive income
Disclosure Of Taxes [Line Items]
Opening balance	61,722		298,273	(37,638)
Profit or loss	118,841		(236,551)	335,911
OCI	0		0	0
Increase due to business combination ISA	0
Closing balance	$ 180,563		$ 61,722	$ 298,273

Taxes - Deferred tax detail rec

Taxes - Deferred tax detail recognized (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2019COP ($)
Taxes
Opening balance	$ 6,034,706		$ 5,480,516	$ 2,541,484
Deferred tax recognized in profit or loss	(1,854,603)		928,517	2,409,079
Increase due to business combination ISA	(7,877,297)		(383,346)	(98,005)
Deferred tax recognized in other comprehensive income (a)	1,535,151		89,526	656,835
ISA Differed tax Dividend	(35,033)			0
Foreign currency translation	371,471	$ 1,192,108	(80,507)	(28,877)
Closing balance	$ (1,825,605)		$ 6,034,706	$ 5,480,516

Taxes - Income tax recorded in

Taxes - Income tax recorded in other comprehensive income (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about income tax [Line Items]
Pre-tax	$ 3,573,847	$ 303,298	$ 2,233,149
Deferred tax	(1,535,151)	(89,526)	(656,835)
After tax	2,038,696	213,772	1,576,314
Cash flow hedging
Disclosure of detailed information about income tax [Line Items]
Pre-tax	1,259,269	(1,186)	(356,339)
Deferred tax	(450,492)	1,908	118,008
After tax	808,777	722	(238,331)
Hedge of a net investment in a foreign operation
Disclosure of detailed information about income tax [Line Items]
Pre-tax	4,579,758	520,490	87,524
Deferred tax	(1,708,348)	(156,147)	(26,257)
After tax	2,871,410	364,343	61,267
Hedge with derivative instruments
Disclosure of detailed information about income tax [Line Items]
Pre-tax	191,487	(78,547)	(69,220)
Deferred tax	(55,821)	23,475	22,769
After tax	135,666	(55,072)	(46,451)
Actuarial valuation gains (losses) [member]
Disclosure of detailed information about income tax [Line Items]
Pre-tax	(2,456,667)	(137,459)	2,571,184
Deferred tax	679,510	41,238	(771,355)
After tax	$ (1,777,157)	$ (96,221)	$ 1,799,829

Taxes - Additional Information

Taxes - Additional Information (Details)	Jan. 01, 2018	Dec. 31, 2022	Dec. 31, 2021COP ($)	Dec. 31, 2020COP ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019	Dec. 31, 2021USD ($)
Disclosure of detailed information about income tax [Line Items]
Percentage of tax discount in the industry and commerce tax			50.00%
Applicable tax rate			31.00%	32.00%	32.00%	33.00%
Presumptive income tax			50.00%
Description of tax losses carry forward			12 taxable years.
Effective tax rate			33.30%	42.70%	42.70%	23.90%
Description Of Vat Rate And Conditions			Concerning VAT, changes have been made to the list of goods and services excluded from VAT as set forth in Articles 424, 426 and 476 of the Tax Code, adding Article 437 to the Tax Code, with regard to guidelines on compliance with formal duties concerning VAT by service providers abroad, and it has been noted that VAT withholding may be up to 50% of the tax amount, subject to regulation by the National Government. The VAT rate remains at 19%.
Description Of Audit Benefit Terms			Audit benefit: For the fiscal years 2022 and 2023, this Law reduce the time in which the tax authorities can audit an income tax return, from 5 years to between 6 to 12 months, depending on whether the net income tax increased to 35 % or 25% with respect to that income tax return in the last fiscal year.
Description of Change in Limitation Period upon Compliance of Given Condition			For the Colombian Companies, 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 can still be reviewed by the tax authorities. The management of Ecopetrol Business Group companies considers that the amounts recorded as liabilities for taxes payable are sufficient and are supported by the law to meet any claim that may be established with respect to such years
Description of Consistency in The Return When Increase in Minimum Tax rate			Additionally, an audit benefit was included for fiscal years 2020 to 2021. Under this benefit, the income tax returns that reflect an increase in the net income tax of at least 30%, or 20% over the net income tax of the immediately preceding year, shall be considered firm for six (6) or twelve (12) months, respectively after the date of presentation if not notified of a deadline for correction or special requirement, or a special deadline or provisional settlement, provided that the return is filed timely and the payment is made within the established deadlines.
Threshold Limit of Income tax Below which Tax Benefit is Not Applicable				$ 2,500,000
Deferred tax asset recognised			$ 1,825,605,000,000	$ 6,034,706,000,000
Percentage of gains			10.00%
Increase in profit due to recognition of deferred tax asset			$ 171,943,000,000
Deferred Tax Asset, Tax Loss And Excess Presumptive Income					$ 1,266,293
Percentage Of Industry And Commerce Tax Discount			100.00%
Ecopetrol Group
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			31.00%	32.00%	32.00%
ISA
Disclosure of detailed information about income tax [Line Items]
Variation in deferred tax liability noncurrent corresponding to purchase price adjustments relating to acquisition							$ 2,795,136,000,000
Variation in deferred tax liability noncurrent corresponding to taxes deferred							$ 5,082,161,000,000
Deferred Tax Asset, Tax Loss And Excess Presumptive Income			$ (352,906,000,000)
Unreported Assets and Nonexistent Liabilities [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable Tax Rate On Unreported Assets or Nonexistent Liabilities			15.00%
2019 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate						33.00%
Presumptive income tax				0.50%	0.50%	1.50%
Percentage Of Net Equity				1.50%	1.50%
2020 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate				32.00%	32.00%
Presumptive income tax			0.50%
Percentage Of Net Equity			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 before update			30
Resident [Member] | Dividend Tax Rate [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			7.50%	7.50%	7.50%
Nonresident [Member] | Dividend Tax Rate [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			10.00%	10.00%	10.00%
Refinera de Cartagena
Disclosure of detailed information about income tax [Line Items]
Deferred Tax Asset, Tax Loss And Excess Presumptive Income			$ (180,562,000,000)
Ruta Del Bosque (Chile) [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			35,511,000,000
Ruta del Maule (Chile) [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			27,404,000,000
Ruta Costera Colombia [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			932,000,000
ISA Intervial Colombia [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			541,000,000
ISA Capital Do Brasil [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			15,983,000,000
Internexa Brasil Operadora de Telecomunicaes [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			69,358,000,000
Internexa Participaes (Brasil) [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			2,122,000,000
e ISA Bolivia [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			1,831,000,000
Andean Chemicals Ltd. [Member]
Disclosure of detailed information about income tax [Line Items]
Deferred tax asset recognised			1,852,000,000
Deferred tax assets not recognised			1,852,000,000
Andean Chemicals Ltd. [Member] | Excess presumptive income
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			$ 4,332,000
Ecopetrol USA
Disclosure of detailed information about income tax [Line Items]
Tax carry forward term			20 years
Tax losses as a percentage of taxable income	80.00%
Hocol petroleum limited | Excess presumptive income
Disclosure of detailed information about income tax [Line Items]
Deferred tax assets not recognised			$ 12,077,000,000
Ecopetrol. | 2021 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			35.00%
Ecopetrol. | 2022 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate before update			30
ISA
Disclosure of detailed information about income tax [Line Items]
Base tax amount			$ 5,039,019,000,000
Deferred tax assets amount unrecognized			503,902,000,000
Ecopetrol Subsidiaries And Joint Ventures [Member]
Disclosure of detailed information about income tax [Line Items]
Base tax amount			3,902,439,000,000
Deferred tax assets amount unrecognized			$ 390,244,000,000
Bottom of range
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			30.00%
Bottom of range | 2022 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			30.00%
Bottom of range | Dividend Tax Rate [Member] | 2021 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			7.50%
Top of range
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate		35.00%
Top of range | 2022 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			35.00%
Top of range | Dividend Tax Rate [Member] | 2021 [Member]
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			10.00%
Colombia Country [Member]
Disclosure of detailed information about income tax [Line Items]
Withholding Dividend Tax Rate			7.50%
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%
Brazil Country [Member] | Ecopetrol Group
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			34.00%
Chile Country [Member] | Ecopetrol Group
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			27.00%
Peru Country [Member] | Ecopetrol Group
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			29.50%
United States Of America Country [Member] | Ecopetrol Group
Disclosure of detailed information about income tax [Line Items]
Applicable tax rate			21.00%

Other assets (Details)

Other assets (Details) - COP ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020
Current
Partners in joint operations	[1]	$ 639,199	$ 534,145
Advanced payments to contractors and suppliers		591,990	503,698
Prepaid expenses		549,456	369,979
Trust funds	[2]	527,520	218,158
Related parties (Note 31)		1,386	7,093
Other assets		23,540	30,963
Total current		2,333,091	1,664,036
Non-current
Abandonment and pension funds	[3]	461,729	405,376
Employee benefits		229,969	221,658
Trust funds (2)		176,781	338,067
Advanced payments and deposits		92,815	54,392
Judicial deposits and attachments		48,845	42,672
Other assets	[4]	188,224	27,949
Total non-current		$ 1,198,363	$ 1,090,114
[1]	Corresponds to the net amount 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 (ANH), as well as through association contracts and other types of contracts.
[2]	Mainly includes the resources invested in trust fund destined to “works for taxes”, mechanism of payment of the income tax of 2019 and 2020, constituted in compliance with article 238 of Law 1819 of 2016 - Tax reform.
[3]	Mainly corresponds to Ecopetrol’s share in trusts funds 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]	Increase due to the consolidation of ISA Group. This concept includes advances to suppliers and other non-current assets.

Business combinations - Additio

Business combinations - Additional Information (Details) $ / shares in Units, $ in Millions		Aug. 20, 2021COP ($)itemsubsidiarycountryshares	Dec. 31, 2021COP ($)	Dec. 31, 2021COP ($)$ / shares		Dec. 31, 2020COP ($)	Dec. 31, 2019COP ($)
Disclosure of detailed information about business combination [line items]
Percentage of minority interest			48.60%	48.60%
Business Combination, Consideration, Per Share | $ / shares				$ 25,000
Number of subsidiaries | subsidiary		50
Number of joint ventures | item		11
Number of associate | item		1
Number of countries in which the company operates | country		6
Revenue of combined entity as if combination occurred at beginning of period		$ 1,108,202
Goodwill.			$ 4,686,324	$ 4,686,324		$ 1,594,279
Dividends received by Ecopetrol from ISA			371,011	371,011	[1]
Acquisition-related costs	[2]			69,018
Profit (loss) from operating activities				29,697,707		7,181,765	$ 21,027,158
Profit (loss)				17,630,554		2,737,853	15,005,155
Property, plant and equipment.			90,076,526	90,076,526		66,508,338	$ 64,214,822
ISA
Disclosure of detailed information about business combination [line items]
Number of shares acquired | shares		569,472,561
Percentage of interest acquired		51.40%
Number of subsidiaries | subsidiary		50
Number of joint ventures | item		11
Number of associate | item		1
Number of countries in which the company operates | item		6
Contingent consideration recognised as of acquisition date			225,983	225,983
Profit (loss) of combined entity as if combination occurred at beginning of period		$ 4,113,198
Increase in profit (loss) of combined entity		7,039,487
Increase in revenue of combined entity		2,096,511
Deferred tax recognized on ISA			$ 35,033	$ 35,033
Net profit, if the business combination took place on January 1		4,113,198
Revenue included in the consolidated profit or loss statement		846,454
Profits included in the consolidated profit or loss statement		$ 1,501,984
Hocol S.A.
Disclosure of detailed information about business combination [line items]
Acquisition-related costs						$ 361,426
[1]	In December 2021, ISA paid dividends to Ecopetrol of $371,011, constituting a deferred tax of $35,033, which was offset from the consideration transferred to be transferred as per the provisions of the acquisition agreement.
[2]	Acquisition-related costs correspond to fees for legal and financial advice and commissions.

Business combinations - Recogni

Business combinations - Recognized for the assets acquired and the liabilities (Details) $ in Millions	Dec. 31, 2021COP ($)
Amounts recognised for the assets acquired and the liabilities assumed at the date of acquisition
Cash and cash equivalents	$ 4,983,234
Accounts receivable	27,487,774
Inventories	120,300
Other financial assets	1,093,941
Current tax assets	477,504
Other assets	682,445
Investments in subsidiaries and joint ventures (Note 13)	5,014,749
Properties, plant, and equipment (Note 14)	17,640,458	[1]
Right of use assets (Note 16)	230,207	[2]
Intangibles (Note 17)	14,326,479	[3]
Deferred tax assets (Note 10.2)	2,075,849
Total Assets	74,132,940
Loans (Note 20)	27,203,432
Leases (Note 16)	255,503	[2]
Accounts payable	1,358,692
Employee Benefits	973,210
Tax liabilities	1,897,786
Provisions and contingencies (Note 23)	947,883	[4]
Other liabilities	1,708,349
Deferred tax liabilities (Note 10.2)	9,953,146
Total Liabilities	44,298,001
Total identifiable net assets	29,834,939
Non-controlling interest	(18,973,080)	[5]
Goodwill derived from the acquisition	3,038,977	[6]
Total consideration transferred, acquisition-date fair value	$ 13,900,836	[7]
[1]	The fair value adjustment of the property, plant and equipment amounts to $5,233,557. The methodologies used to estimate the fair value of the property, plant and equipment and the transmission line easements were the replacement cost and market value estimate through quotations of similar assets. The key assumptions used to estimate the fair value of those assets were: replacement value of fixed assets, market quotations, and the assets useful lives.
[2]	Ecopetrol measured the acquired lease liabilities by discounting the future lease payments for the remaining lease terms using the Ecopetrol Business Group incremental borrowing rate at the date of acquisition. Right-of-use assets were measured at an amount equal to lease liabilities.
[3]	The fair value adjustment of intangible assets with contractual rights was $4,596,134 and were valued by the Multi – period Excess Earnings Method (MEEM) methodology, including the contractual rights’ fair value’s estimates were calculated based on the contractual revenues and the adjusted operational margin of each intangible. The projected operational profit was deducted by the corresponding income tax rate applicable in the jurisdiction, and the estimated contributory asset charges. The projected excess earning was discounted to present value using the entities’ discount rate (WACC, which included an intangible asset premium).
[4]	The fair value adjustment of contingent liabilities which are defined as present obligations that arise from past events and their fair value can be measured reliably was $225,983 and it was determined based on the advice of its legal advisors based on the expected likely outcome of the disputes.
[5]	The non-controlling interest fair value adjustment was measured based on the proportionate share in the recognized amounts of the acquiree’s identifiable net assets. It has two main components: (i) the non-controlling interest fair value adjustment in ISA’s subsidiaries, mainly ISA CTEEP, ISA REP, and Consorcio Transmantaro ($ 890,575); and (ii) the non-controlling interest from Ecopetrol in ISA ($ 10,265,482).
[6]	Goodwill from the acquisition was allocated to the Electric Power Transmission and Toll Roads Concessions Segment.
[7]	The consideration transferred corresponds to the payment made to the former controlling shareholder of ISA, reduced by the dividends received at the time of closing the transaction.

Business combinations - Recog_2

Business combinations - Recognized for the assets acquired and the liabilities - Additional Information (Details) - 12 months ended Dec. 31, 2021 $ in Millions, $ in Millions		COP ($)	USD ($)	USD ($)
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		$ 4,231,255
Adjustment of investments to fair values on the date of acquisition in associates		783,494
Adjustment of investments to fair values on the date of acquisition in associates and joint ventures		5,014,749
Fair value adjustment fair value of the associates and joint ventures adjustment			$ 1,281,598
Fair value adjust of the property, plant and equipment		5,233,557
Fair value of intangible assets			$ 4,596,134
Goodwill recognised as of acquisition date	[1]	3,038,977
ATP Tower Holdings
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in associates		783,494
Fair value adjustment fair value of the associates and joint ventures adjustment		367,659
Transmissora Alianca de Energia Eltrica S.A.
Disclosure of detailed information about business combination [line items]
Fair value adjustment fair value of the associates and joint ventures adjustment		558,659
Transmissora Alianca De Energia Eletrica S.A.
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		1,496,926
Interligacao Eletrica Do Madeira S.A.[Member]
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		1,446,019
Interligacao Eletrica Paraguacu S.A [Member]
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		396,753
Interligacao Eletrica Garanhuns S.A [Member]
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		365,533
Interligacao Eletrica Aimores S.A.
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		269,484
Interligacao Eletrica Ivai S.A.[Member]
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		249,539
Interconexion Electrica Colombia Panama S.A.
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		6,412
Derivex S.A.
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		489
Parques de Rio
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		96
Interconexion Electrica Colombia Panama S.A.S E.S.P.
Disclosure of detailed information about business combination [line items]
Adjustment of investments to fair values on the date of acquisition in joint ventures		4
ISA
Disclosure of detailed information about business combination [line items]
Fair value adjustment fair value of the associates and joint ventures adjustment		$ 1,281,598
Acquiree Non Controlling Interest In its Subordinates				$ 890,575
Non Controlling Interest In Equity Attributable To Acquiree Shareholders				$ 10,265,482
Non Controlling Interest Representing Percentage Of Equity Attributable to Acquiree Shareholders		48.59%	48.59%
Contingent consideration recognised as of acquisition date		$ 225,983
[1]	Goodwill from the acquisition was allocated to the Electric Power Transmission and Toll Roads Concessions Segment.

Business combinations - Analysi

Business combinations - Analysis of the cash flow of the acquisition (Details) - COP ($) $ in Millions		1 Months Ended	12 Months Ended
		Dec. 31, 2021	Dec. 31, 2021
Analysis of the cash flow of the acquisition
Consideration paid in cash			$ (14,236,814)
Dividends received by Ecopetrol from ISA		$ 371,011	371,011	[1]
Consideration transferred (included in investment activities)	[2]		(13,865,803)
Cash acquired with the business combination (included in investing activities)			4,983,234
Acquisition-related costs	[3]		(69,018)
Costs related to the issuance of debt (included in financing activities)			(42,699)
Acquisition cash flow, net			$ (8,994,286)
[1]	In December 2021, ISA paid dividends to Ecopetrol of $371,011, constituting a deferred tax of $35,033, which was offset from the consideration transferred to be transferred as per the provisions of the acquisition agreement.
[2]	For the consolidated cash flow purposes, the consideration transferred does not include deferred taxes on dividends ($35,033) given that it is a non-cash item .
[3]	Acquisition-related costs correspond to fees for legal and financial advice and commissions.

Investments in associates and_3

Investments in associates and joint ventures - Composition and movements (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments in joint ventures
Investments in joint ventures	$ 5,749,030	$ 1,383,379
Investments in associates
Investments in associates	2,608,156	1,791,249
Investments in joint ventures and associates	8,357,186	3,174,628	$ 3,245,072	$ 1,844,336
Gains on disposals of investments	$ 4,923
Proportion of ownership interest in joint venture	50.00%
Other Comprehensive Income, Net of Tax, Sale of Joint Ventures	$ 361,728	0	$ 0
Cost [member]
Investments in joint ventures
Investments in joint ventures	6,147,134	2,307,665
Investments in associates
Investments in associates	2,617,555	1,799,790
Gases del Caribe S.A. E.S.P. [member] | Cost [member]
Investments in associates
Investments in associates	1,515,838	1,512,629
Gas Natural del Oriente S.A. E.S.P. | Cost [member]
Investments in associates
Investments in associates	142,508	143,893
Gases de la Guajira S.A. E.S.P. | Cost [member]
Investments in associates
Investments in associates	69,461	69,518
Extrucol S.A. | Cost [member]
Investments in associates
Investments in associates	28,578	26,996
E2 Energia Eficiente S.A. E.S.P. | Cost [member]
Investments in associates
Investments in associates	35,062	35,614
Sociedad Colombiana de Servicios Portuarios S.A. - Serviport S.A. | Cost [member]
Investments in associates
Investments in associates	3,012	2,599
Serviport S.A | Cost [member]
Investments in associates
Investments in associates	9,399	8,541
Serviport S.A | Accumulated impairment [member]
Investments in associates
Investments in associates	(9,399)	(8,541)
ATP Tower Holdings | Cost [member]
Investments in associates
Investments in associates	813,697	0
Equion Energy Limited
Investments in joint ventures
Investments in joint ventures	$ 2,960,397	$ 2,499,319
Investments in associates
Proportion of ownership interest in joint venture	51.00%	51.00%
Equion Energy Limited | Cost [member]
Investments in joint ventures
Investments in joint ventures	$ 1,860,634	$ 1,642,735
Equion Energy Limited | Accumulated impairment [member]
Investments in joint ventures
Investments in joint ventures	(398,104)	(314,460)
Transmissora Alianca De Energia Eletrica S.A. | Cost [member]
Investments in joint ventures
Investments in joint ventures	$ 1,496,060	0
Ecodiesel Colombia S.A
Investments in associates
Proportion of ownership interest in joint venture	50.00%
Ecodiesel Colombia S.A | Cost [member]
Investments in joint ventures
Investments in joint ventures	$ 64,019	51,672
Interligacao Eletrica do Madeira
Investments in joint ventures
Investments in joint ventures	$ 2,504,773
Investments in associates
Proportion of ownership interest in joint venture	51.00%
Interligacao Eletrica do Madeira | Cost [member]
Investments in joint ventures
Investments in joint ventures	$ 1,374,483	0
Interligacao Eletrica Paraguacu S.A. | Cost [member]
Investments in joint ventures
Investments in joint ventures	412,526	0
Interligao Eltrica Garanhuns S.A | Cost [member]
Investments in joint ventures
Investments in joint ventures	363,498	0
Interligao Eltrica Iva S.A | Cost [member]
Investments in joint ventures
Investments in joint ventures	288,224	0
Interligao Eltrica Aimors S.A | Cost [member]
Investments in joint ventures
Investments in joint ventures	278,408	0
Interconexion Electrica Colombia Panama S.A. | Cost [member]
Investments in joint ventures
Investments in joint ventures	8,737	0
Derivex S.A. | Cost [member]
Investments in joint ventures
Investments in joint ventures	448	0
Parques de Rio | Cost [member]
Investments in joint ventures
Investments in joint ventures	93	0
Interconexion Electrica Colombia Panama S.A.S E.S.P. | Cost [member]
Investments in joint ventures
Investments in joint ventures	4	0
Offshore International Group
Investments in joint ventures
Investments in joint ventures		$ 543,620
Investments in associates
Proportion of ownership interest in joint venture		50.00%
Offshore International Group | Cost [member]
Investments in joint ventures
Investments in joint ventures	0	$ 613,258
Offshore International Group | Accumulated impairment [member]
Investments in joint ventures
Investments in joint ventures	$ 0	$ (609,826)

Investments in associates and_4

Investments in associates and joint ventures - Movement of investments in associates and joint ventures (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Investments in associates and joint ventures [Line Items]
Opening balance	$ 3,174,628	$ 3,245,072	$ 1,844,336
Capitalization	44,735
Business combination (Note 12)	5,014,749
Effects of equity method through:
Other comprehensive income	133,998	(2,923)	(170,460)
Profit or loss	426,164	76,336	366,904
Dividends declared	(349,108)	(157,682)	(79,866)
Impairment reversal (loss)	(84,502)	(66,512)	(318,820)
Foreign currency translation	(3,478)	80,337	1,602,978
Closing balance	8,357,186	3,174,628	3,245,072
Dividends received	206,048	157,241	189,169
Joint ventures
Disclosure of Investments in associates and joint ventures [Line Items]
Opening balance	1,383,379	1,418,315	1,599,674
Capitalization	44,735
Business combination (Note 12)	4,231,255
Effects of equity method through:
Other comprehensive income	121,856	0	4,531
Profit or loss	232,797	(38,443)	257,366
Dividends declared	(177,870)	(9,017)	(4,192)
Impairment reversal (loss)	(83,644)	(69,041)	(318,962)
Foreign currency translation	(3,478)	81,565	(120,102)
Closing balance	5,749,030	1,383,379	1,418,315
Associates
Disclosure of Investments in associates and joint ventures [Line Items]
Opening balance	1,791,249	1,826,757	244,662
Capitalization	0
Business combination (Note 12)	783,494
Effects of equity method through:
Other comprehensive income	12,142	(2,923)	(174,991)
Profit or loss	193,367	114,779	109,538
Dividends declared	(171,238)	(148,665)	(75,674)
Impairment reversal (loss)	(858)	2,529	142
Foreign currency translation	0	(1,228)	1,723,080
Closing balance	$ 2,608,156	$ 1,791,249	$ 1,826,757

Investments in associates and_5

Investments in associates and joint ventures - Additional information about associates and joint ventures (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of financial position
Current assets	$ 51,695,747	$ 22,834,374
Non-current assets	190,730,869	114,859,795
Total assets	242,426,616	137,694,169
Current liabilities	30,248,731	18,282,443
Non-current liabilities	121,594,113	65,912,363
Total liabilities	151,842,844	84,194,806
Equity	90,583,772	53,499,363	$ 58,231,628	$ 57,107,780
Other complementary information
Cash and cash equivalents	14,549,906	5,082,308	7,075,758	$ 6,311,744
Loans and borrowings	9,206,283	4,923,346
Non-current	85,854,645	41,808,408
Statement of profit or loss
Sales revenue	91,881,204	50,223,393	71,488,512
Costs	(55,581,776)	(37,567,472)	(44,972,360)
Other operating income (expenses), net	(3,342,069)	(3,373,150)	(2,151,599)
Financial (expenses) income	(3,698,054)	(2,481,587)	(1,670,494)
Income tax (expense)	8,795,263	2,038,661	4,718,413
Financial year results	17,630,554	2,737,853	15,005,155
Other comprehensive income (loss) for the year, net of tax	3,571,125	1,356,224	(1,743,107)
Interligacao Eletrica do Madeira
Statement of financial position
Current assets	593,389
Non-current assets	4,432,664
Total assets	5,026,053
Current liabilities	325,049
Non-current liabilities	2,196,231
Total liabilities	2,521,280
Equity	2,504,773
Other complementary information
Cash and cash equivalents	207,703
Statement of profit or loss
Sales revenue	639,356
Costs	(18,021)
Other operating income (expenses), net	0
Financial (expenses) income	(129,094)
Income tax (expense)	(112,574)
Financial year results	379,667
Other comprehensive income (loss) for the year, net of tax	0
Depreciation and amortization	3,708
Transmissora Alianca de Energia Eletrica
Statement of financial position
Current assets	1,233,296
Non-current assets	8,985,539
Total assets	10,218,835
Current liabilities	711,592
Non-current liabilities	4,633,422
Total liabilities	5,345,014
Equity	4,873,821
Other complementary information
Cash and cash equivalents	128,256
Statement of profit or loss
Sales revenue	2,953,672
Costs	(450,666)
Other operating income (expenses), net	(117,526)
Financial (expenses) income	(562,549)
Income tax (expense)	(285,702)
Financial year results	1,537,229
Other comprehensive income (loss) for the year, net of tax	15,599
Depreciation and amortization	15,076
Offshore International Group
Statement of financial position
Current assets		266,240
Non-current assets		1,302,555
Total assets		1,568,795
Current liabilities		154,086
Non-current liabilities		871,089
Total liabilities		1,025,175
Equity		543,620
Other complementary information
Cash and cash equivalents		110,622
Statement of profit or loss
Sales revenue		325,812	529,167
Costs		(364,750)	(690,484)
Other operating income (expenses), net		(234,597)	(64,115)
Financial (expenses) income		(24,034)	(31,288)
Income tax (expense)		59,818	208,473
Financial year results		(237,751)	(48,247)
Other comprehensive income (loss) for the year, net of tax		0	0
Depreciation and amortization		205,243	226,654
Equion Energy Limited
Statement of financial position
Current assets	3,054,020	2,616,813
Non-current assets	3,850	13,538
Total assets	3,057,870	2,630,351
Current liabilities	62,157	81,259
Non-current liabilities	35,316	49,773
Total liabilities	97,473	131,032
Equity	2,960,397	2,499,319
Other complementary information
Cash and cash equivalents	106,858	36,601
Statement of profit or loss
Sales revenue	63,169	257,066	1,285,891
Costs	(45,201)	(127,672)	(671,179)
Other operating income (expenses), net	(8,553)	60,852	(624)
Financial (expenses) income	65,611	(1,090)	(3,660)
Income tax (expense)	(22,091)	(45,137)	(214,048)
Financial year results	52,935	144,019	396,380
Other comprehensive income (loss) for the year, net of tax	1,632,400	1,223,990	1,102,757
Depreciation and amortization	$ 399	$ 41,536	$ 404,482

Investments in associates and_6

Investments in associates and joint ventures - Reconciliation of equity (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Investments in associates and joint ventures [Line Items]
Investments in joint ventures	$ 5,749,030	$ 1,383,379
Proportion of ownership interest in joint venture	50.00%
Other Comprehensive Income, Net of Tax, Sale of Joint Ventures	$ 361,728	0	$ 0
Profit or loss	426,164	76,336	$ 366,904
Ecopetrol Business Group
Disclosure of Investments in associates and joint ventures [Line Items]
Profit or loss	85,509	193,367
Interligacao Eletrica do Madeira
Disclosure of Investments in associates and joint ventures [Line Items]
Investments in joint ventures	$ 2,504,773
Proportion of ownership interest in joint venture	51.00%
Ecopetrol's ownership	$ 1,277,434
Carrying amount of the investment	1,277,434
Transmissora Alianca de Energia Eletrica
Disclosure of Investments in associates and joint ventures [Line Items]
Investments in joint ventures	$ 4,873,821
Proportion of ownership interest in joint venture	14.88%
Ecopetrol's ownership	$ 725,185
Additional value of the investment	197,070
Carrying amount of the investment	922,255
Equion Energy Limited
Disclosure of Investments in associates and joint ventures [Line Items]
Investments in joint ventures	$ 2,960,397	$ 2,499,319
Proportion of ownership interest in joint venture	51.00%	51.00%
Ecopetrol's ownership	$ 1,509,802	$ 1,274,654
Additional value of the investment	375,694	375,693
Unrealized gain	(24,862)	(7,612)
Impairment	(398,104)	(314,460)
Carrying amount of the investment	$ 1,462,530	1,328,275
Offshore International Group
Disclosure of Investments in associates and joint ventures [Line Items]
Investments in joint ventures		$ 543,620
Proportion of ownership interest in joint venture		50.00%
Ecopetrol's ownership		$ 271,811
Additional value of the investment		341,447
Impairment		(609,826)
Carrying amount of the investment		$ 3,432

Property, plant and equipment_2

Property, plant and equipment (Details) - COP ($) $ in Millions		Nov. 22, 2019	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			$ 66,508,338	$ 64,214,822
Adjustment on fair value for business combinations (Note 4)				31,137
Ending Balance			90,076,526	66,508,338
Acquisition-related costs	[1]		69,018
Hocol S.A.
Disclosure of detailed information about property, plant and equipment [line items]
Subsidiary, percentage		100.00%
Association contract, percentage		43.00%
Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			110,962,459	105,498,487
Additions/capitalizations			6,117,588	5,032,317
Adjustment on fair value for business combinations (Note 4)			17,640,458	720,670
(Decrease) increase in abandonment costs			(291,313)	203,364
Capitalized financial interests			131,164	136,361
Exchange differences capitalized			3,346	4,338
Disposals			471,211	(767,268)
Effect of control loss in subsidiaries				(1,363,286)
Foreign currency translation			7,339,463	1,996,422
Transfers/ reclassifications			(531,180)	(498,946)
Ending Balance			140,900,774	110,962,459
Accumulated depletion and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			(44,454,121)	(41,283,665)
Effect of control loss in subsidiaries (3)				1,030,640
Depreciation expense			(4,642,246)	(4,384,980)
(Impairment) Recovery			(281,132)	(384,638)
Disposals			392,742	618,501
Foreign currency translation			(2,302,185)	(481,516)
Transfers/ reclassifications			462,694	431,537
Ending Balance			(50,824,248)	(44,454,121)
Plant and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			29,831,912	28,959,829
Ending Balance			32,754,006	29,831,912
Plant and equipment [member] | Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			51,088,781	47,995,471
Additions/capitalizations			1,958,132	1,625,316
Adjustment on fair value for business combinations (Note 4)			184,303	547,965
(Decrease) increase in abandonment costs			(182,172)	181,318
Capitalized financial interests			53,740	42,052
Exchange differences capitalized			1,371	1,338
Disposals			312,646	(491,677)
Effect of control loss in subsidiaries				(298,570)
Foreign currency translation			4,946,012	1,336,351
Transfers/ reclassifications			(284,678)	149,217
Ending Balance			57,452,843	51,088,781
Plant and equipment [member] | Accumulated depletion and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			(21,256,869)	(19,035,642)
Effect of control loss in subsidiaries (3)				266,825
Depreciation expense			(2,420,045)	(2,296,176)
(Impairment) Recovery			24,888	(368,754)
Disposals			276,225	443,259
Foreign currency translation			(1,726,218)	(306,506)
Transfers/ reclassifications			403,182	40,125
Ending Balance			(24,698,837)	(21,256,869)
Pipelines, networks and lines [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			19,583,670	19,735,537
Ending Balance			35,737,581	19,583,670
Pipelines, networks and lines [member] | Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			37,141,694	36,370,647
Additions/capitalizations			1,657,967	1,179,602
Adjustment on fair value for business combinations (Note 4)			14,860,422	44,538
(Decrease) increase in abandonment costs			(104,101)	15,035
Capitalized financial interests			29,435	31,511
Exchange differences capitalized			751	1,002
Disposals			81,967	(84,184)
Effect of control loss in subsidiaries				(592,885)
Foreign currency translation			1,646,079	478,103
Transfers/ reclassifications			252,353	(301,675)
Ending Balance			55,402,633	37,141,694
Pipelines, networks and lines [member] | Accumulated depletion and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			(17,558,024)	(16,635,110)
Effect of control loss in subsidiaries (3)				403,095
Depreciation expense			(1,723,300)	(1,634,545)
(Impairment) Recovery			(22,346)	329,743
Disposals			66,555	75,150
Foreign currency translation			(434,365)	(155,927)
Transfers/ reclassifications			6,428	59,570
Ending Balance			(19,665,052)	(17,558,024)
Work in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			6,490,772	5,145,288
Ending Balance			9,286,514	6,490,772
Work in progress [member] | Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			7,514,228	6,259,654
Additions/capitalizations			1,854,907	1,573,469
Adjustment on fair value for business combinations (Note 4)			1,521,181	0
(Decrease) increase in abandonment costs			(1,673)	0
Capitalized financial interests			29,209	38,756
Exchange differences capitalized			745	1,233
Disposals			9,344	(79,077)
Effect of control loss in subsidiaries				(775)
Foreign currency translation			164,778	19,804
Transfers/ reclassifications			(507,917)	(298,836)
Ending Balance			10,566,114	7,514,228
Work in progress [member] | Accumulated depletion and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			(1,023,456)	(1,114,366)
Effect of control loss in subsidiaries (3)				262
Depreciation expense			0	0
(Impairment) Recovery			(312,009)	(327,751)
Disposals			421	3,492
Foreign currency translation			(1,550)	959
Transfers/ reclassifications			56,994	413,948
Ending Balance			(1,279,600)	(1,023,456)
Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			4,783,745	4,701,691
Ending Balance			5,600,974	4,783,745
Buildings [member] | Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			8,412,469	8,157,945
Additions/capitalizations			434,438	390,731
Adjustment on fair value for business combinations (Note 4)			557,224	54,413
(Decrease) increase in abandonment costs			(3,494)	3,885
Capitalized financial interests			12,491	14,965
Exchange differences capitalized			319	476
Disposals			25,530	(16,390)
Effect of control loss in subsidiaries				(266,526)
Foreign currency translation			204,496	59,107
Transfers/ reclassifications			67,814	13,863
Ending Balance			9,660,227	8,412,469
Buildings [member] | Accumulated depletion and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			(3,628,724)	(3,456,254)
Effect of control loss in subsidiaries (3)				221,708
Depreciation expense			(381,978)	(341,052)
(Impairment) Recovery			12,790	(18,074)
Disposals			18,152	14,279
Foreign currency translation			(73,136)	(13,707)
Transfers/ reclassifications			(6,357)	(35,624)
Ending Balance			(4,059,253)	(3,628,724)
Lands [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			4,034,278	3,973,856
Ending Balance			4,732,686	4,034,278
Lands [member] | Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			4,112,826	4,054,538
Additions/capitalizations			4,965	18,705
Adjustment on fair value for business combinations (Note 4)			395,828	0
(Decrease) increase in abandonment costs			0	0
Capitalized financial interests			160	753
Exchange differences capitalized			4	24
Disposals			4,164	(10,155)
Effect of control loss in subsidiaries				(60,341)
Foreign currency translation			257,988	73,181
Transfers/ reclassifications			32,690	36,121
Ending Balance			4,800,297	4,112,826
Lands [member] | Accumulated depletion and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			(78,548)	(80,682)
Effect of control loss in subsidiaries (3)				30,669
Depreciation expense			0	0
(Impairment) Recovery			16,403	8,799
Disposals			34	11
Foreign currency translation			(5,500)	3,403
Transfers/ reclassifications			0	(40,748)
Ending Balance			(67,611)	(78,548)
Other. [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			1,783,961	1,698,621
Ending Balance			1,964,765	1,783,961
Other. [Member] | Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			2,692,461	2,660,232
Additions/capitalizations			207,179	244,494
Adjustment on fair value for business combinations (Note 4)			121,500	73,754
(Decrease) increase in abandonment costs			127	3,126
Capitalized financial interests			6,129	8,324
Exchange differences capitalized			156	265
Disposals			37,560	(85,785)
Effect of control loss in subsidiaries				(144,189)
Foreign currency translation			120,110	29,876
Transfers/ reclassifications			(91,442)	(97,636)
Ending Balance			3,018,660	2,692,461
Other. [Member] | Accumulated depletion and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance			(908,500)	(961,611)
Effect of control loss in subsidiaries (3)				108,081
Depreciation expense			(116,923)	(113,207)
(Impairment) Recovery			(858)	(8,601)
Disposals			31,355	82,310
Foreign currency translation			(61,416)	(9,738)
Transfers/ reclassifications			2,447	(5,734)
Ending Balance			$ (1,053,895)	(908,500)
Hocol S.A.
Disclosure of detailed information about property, plant and equipment [line items]
Acquisition-related costs				$ 361,426
[1]	Acquisition-related costs correspond to fees for legal and financial advice and commissions.

Natural and environmental res_3

Natural and environmental resources (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Natural and environmental resources [Line Items]
Additions/capitalizations (1)		$ 214,852
Adjustment on fair value for business combinations		31,137
Net balance	$ 35,909,844	31,934,159
Cost [member]
Disclosure of Natural and environmental resources [Line Items]
Adjustment on fair value for business combinations	17,640,458	720,670
Cost [member] | Oil and gas investments [Member]
Disclosure of Natural and environmental resources [Line Items]
Balance	65,367,278	59,822,566
Additions/capitalizations (1)	4,032,780	3,659,270
Increase in abandonment costs (Note 23)	0	0
Disposals	(3,497)	(1,806)
Withdrawal of exploratory assets and dry wells (2)	0	0
Capitalized financial interests	99,786	111,140
Exchange differences capitalized (3)	2,546	3,535
Adjustment on fair value for business combinations		563,546
Foreign currency translation	1,979,171	440,978
Transfers/reclassifications	4,751,417	768,049
Balance	76,229,481	65,367,278
Cost [member] | Asset retirement cost [Member]
Disclosure of Natural and environmental resources [Line Items]
Balance	7,231,851	5,036,884
Additions/capitalizations (1)	60,618	123,446
Increase in abandonment costs (Note 23)	778,925	2,075,992
Disposals	(484)	(260)
Withdrawal of exploratory assets and dry wells (2)	0	0
Capitalized financial interests	0	0
Exchange differences capitalized (3)	0	0
Adjustment on fair value for business combinations		0
Foreign currency translation	101,866	23,353
Transfers/reclassifications	(78)	(28,084)
Balance	8,172,698	7,231,851
Cost [member] | Exploration and evaluation [member]
Disclosure of Natural and environmental resources [Line Items]
Balance	8,867,894	8,362,719
Additions/capitalizations (1)	2,639,630	2,211,746
Increase in abandonment costs (Note 23)	13,256	28,097
Disposals	(69,908)	(223,805)
Withdrawal of exploratory assets and dry wells (2)	(486,408)	(448,132)
Capitalized financial interests	24,757	0
Exchange differences capitalized (3)	632	0
Adjustment on fair value for business combinations		0
Foreign currency translation	767,117	(138,809)
Transfers/reclassifications	(4,544,665)	(923,922)
Balance	7,212,305	8,867,894
Accumulated depletion and impairment [member] | Oil and gas investments [Member]
Disclosure of Natural and environmental resources [Line Items]
Balance	(46,106,147)	(41,993,097)
Depletion expense	(3,803,027)	(3,810,349)
(Loss) reversal of impairment (Note 18)	305,016	116,403
Disposals	500	213
Foreign currency translation	(1,401,121)	(310,894)
Transfers/reclassifications	(311,565)	(108,423)
Balance	(51,316,344)	(46,106,147)
Accumulated depletion and impairment [member] | Asset retirement cost [Member]
Disclosure of Natural and environmental resources [Line Items]
Balance	(2,981,449)	(2,156,274)
Depletion expense	(1,193,454)	(831,909)
(Loss) reversal of impairment (Note 18)	0	0
Disposals	0	40
Foreign currency translation	(41,610)	(14,546)
Transfers/reclassifications	(14,161)	21,320
Balance	(4,230,674)	(2,981,449)
Accumulated depletion and impairment [member] | Exploration and evaluation [member]
Disclosure of Natural and environmental resources [Line Items]
Balance	(445,268)	0
Depletion expense	0	0
(Loss) reversal of impairment (Note 18)	59,111	(334,112)
Disposals	31,214	93,975
Foreign currency translation	0	0
Transfers/reclassifications	197,321	(205,131)
Balance	(157,622)	(445,268)
Natural and environmental resources [Member]
Disclosure of Natural and environmental resources [Line Items]
Net balance	35,909,844	31,934,159	$ 29,072,798
Natural and environmental resources [Member] | Oil and gas investments [Member]
Disclosure of Natural and environmental resources [Line Items]
Net balance	24,913,137	19,261,131	17,829,469
Natural and environmental resources [Member] | Asset retirement cost [Member]
Disclosure of Natural and environmental resources [Line Items]
Net balance	3,942,024	4,250,402	2,880,610
Natural and environmental resources [Member] | Exploration and evaluation [member]
Disclosure of Natural and environmental resources [Line Items]
Net balance	7,054,683	8,422,626	$ 8,362,719
Natural and environmental resources [Member] | Cost [member]
Disclosure of Natural and environmental resources [Line Items]
Balance	81,467,023	73,222,169
Additions/capitalizations (1)	6,733,028	5,994,462
Increase in abandonment costs (Note 23)	792,181	2,104,089
Disposals	(73,889)	(225,351)
Withdrawal of exploratory assets and dry wells (2)	(486,408)	(448,132)
Capitalized financial interests	124,543	111,140
Exchange differences capitalized (3)	3,178	3,535
Adjustment on fair value for business combinations		563,546
Foreign currency translation	2,848,154	325,522
Transfers/reclassifications	206,674	(183,957)
Balance	91,614,484	81,467,023
Natural and environmental resources [Member] | Accumulated depletion and impairment [member]
Disclosure of Natural and environmental resources [Line Items]
Balance	(49,532,864)	(44,149,371)
Depletion expense	(4,996,481)	(4,642,258)
(Loss) reversal of impairment (Note 18)	364,127	(217,709)
Disposals	31,714	94,148
Foreign currency translation	(1,442,731)	(325,440)
Transfers/reclassifications	(128,405)	(292,234)
Balance	$ (55,704,640)	$ (49,532,864)

Natural and environmental res_4

Natural and environmental resources - Accounting for suspended exploratory wells (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Natural and environmental resources [Line Items]
Number of projects exceeding 1 year	6	16	30
Wells under 1 year of suspension	$ 651,040	$ 908,972	$ 935,110
Between 1 and 3 years
Disclosure of Natural and environmental resources [Line Items]
Wells under 1 year of suspension	0		361,700
Between 3 and 5 years
Disclosure of Natural and environmental resources [Line Items]
Wells under 1 year of suspension	0	319,368	132,021
2027 and thereafter
Disclosure of Natural and environmental resources [Line Items]
Wells under 1 year of suspension	651,040	$ 589,604	$ 441,389
2022.
Disclosure of Natural and environmental resources [Line Items]
Wells under 1 year of suspension	$ 20,863

Natural and environmental res_5

Natural and environmental resources - Additional Information (Details) - COP ($) $ in Millions	Nov. 22, 2019	Dec. 31, 2020
Disclosure of Natural and environmental resources [Line Items]
Capitalizations for the acquisition of Guajira association by Hocol		$ 214,852
Hocol S.A.
Disclosure of Natural and environmental resources [Line Items]
Subsidiary, percentage	100.00%
Association contract, percentage	43.00%

Right-of-use assets (Details)

Right-of-use assets (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019COP ($)	Dec. 31, 2019USD ($)
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	$ 377,886
Right-of-use assets amortization		$ (28,441)		$ (10,814)		$ (14,532)
Balance at the end	496,678		$ 377,886
Lease liabilities
Right of Use Assets Rollforward [Abstract]
Effect of business combinations (Note 12)	255,503
Right of Use Assets, Subleased Rollforward [Abstract]
Transfers/reclassifications	2,615
Lease Liabilities Rollforward [Abstract]
Balance at the beginning	1,055,198		1,290,954
Additions	75,417				$ 88,503
Remeasurements	80,068		(76,799)
Disposals	(64,726)		(28,916)
Effect of control loss in subsidiaries (1)			(102,671)
Finance cost	49,694		64,988
Repayment of borrowings and interests	(336,030)		(350,539)
Exchange difference	47,360		16,080
Balance at the end	1,165,099		1,055,198		1,290,954
Pipelines
Right of Use Assets Rollforward [Abstract]
Additions	22,871
Effect of business combinations (Note 12)	75,836
Right-of-use assets amortization	(6,897)
Exchange difference	(14,577)
Balance at the end	77,019
Right of Use Assets, Subleased Rollforward [Abstract]
Transfers/reclassifications	(214)
Lands and buildings
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	93,472		218,513
Additions	22,190				41,303
Effect of business combinations (Note 12)	121,042
Right-of-use assets amortization	(39,109)		(52,200)
Remeasurements (1)	26,057		41,907
Reversal of impairment	$ (5,802)		$ 312
Disposals	(14,540)		(13,343)
Effect of control loss in subsidiaries (1)			$ (61,044)
Exchange difference	$ 7,436		1,838
Balance at the end	199,070		93,472		218,513
Right of Use Assets, Subleased Rollforward [Abstract]
Transfers/reclassifications	(11,676)
Plant and equipment
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	133,939		97,264
Additions	10,037				14,618
Effect of business combinations (Note 12)	13,779
Right-of-use assets amortization	(61,186)		(29,038)
Remeasurements (1)	48,803		(33,686)
Reversal of impairment	(20,608)		$ 29,718
Disposals			(4,321)
Effect of control loss in subsidiaries (1)			$ (7,432)
Exchange difference	(3,017)		(556)
Balance at the end	121,384		133,939		97,264
Right of Use Assets, Subleased Rollforward [Abstract]
Transfers/reclassifications	(363)
Vehicles
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	150,475		140,448
Additions	20,319				32,582
Effect of business combinations (Note 12)	19,550
Right-of-use assets amortization	(86,830)		(98,726)
Remeasurements (1)	5,045		(69,255)
Reversal of impairment	$ (5,373)		5,844
Disposals	(98)
Exchange difference	$ (2,749)		1,072
Balance at the end	99,205		150,475		140,448
Right of Use Assets, Subleased Rollforward [Abstract]
Transfers/reclassifications	(1,134)
Right-of-use assets
Right of Use Assets Rollforward [Abstract]
Balance at the beginning	377,886		456,225
Additions					88,503
Effect of business combinations (Note 12)	230,207
Right-of-use assets amortization			(179,964)
Remeasurements (1)	79,905		(61,034)
Reversal of impairment			$ 35,874
Disposals			(17,664)
Effect of control loss in subsidiaries (1)			$ (68,476)
Exchange difference			2,354
Balance at the end			377,886		456,225
Right of Use Assets, Subleased Rollforward [Abstract]
Balance as of beginning of period	377,886
Additions	75,417
Amortization of the period	194,022
Transfers/reclassifications	(13,387)
Impairment loss (Note 18)	(31,783)
Disposals	14,638
Exchange difference	(12,907)
Balance as of end of period	$ 496,678		377,886
Subleases [Member]
Right of Use Assets, Subleased Rollforward [Abstract]
Balance as of beginning of period			29,436
Effect of control loss in subsidiaries (1)			$ (29,436)
Balance as of end of period					$ 29,436

Intangible assets (Details)

Intangible assets (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Intangible assets
Beginning Balance	$ 555,043
Acquisitions		$ 214,852
Adjustment on fair value for business combinations (Note 12)		31,137
Ending Balance	15,508,516	555,043
Licences and Software member]
Intangible assets
Beginning Balance	227,159
Ending Balance	428,994	227,159
Licences and Software member] | Electric power transmission lines
Intangible assets
Beginning Balance	284,349	302,382
Ending Balance		284,349
Other intangibles [member]
Intangible assets
Beginning Balance	134,164
Ending Balance	786,788	134,164
Other intangibles [member] | Electric power transmission lines
Intangible assets
Beginning Balance	270,694	180,716
Ending Balance		270,694
Concessions and Rights [Member]
Intangible assets
Beginning Balance	177,309
Ending Balance	12,625,316	177,309
Easements [Member]
Intangible assets
Beginning Balance	16,411
Ending Balance	1,667,418	16,411
Intangible assets [Member]
Intangible assets
Beginning Balance	555,043
Ending Balance	15,508,516	555,043
Intangible assets [Member] | Electric power transmission lines
Intangible assets
Beginning Balance	555,043	483,098
Ending Balance		555,043
Cost [member]
Intangible assets
Adjustment on fair value for business combinations (Note 12)	17,640,458	720,670
Cost [member] | Licences and Software member]
Intangible assets
Beginning Balance	835,030
Acquisitions	140,263
Effect of business combination (Note 12)	130,634
Disposals	(21,581)
Foreign currency translation	82,397
Transfers/reclassifications	(47,932)
Ending Balance	1,118,811	835,030
Cost [member] | Licences and Software member] | Electric power transmission lines
Intangible assets
Beginning Balance	1,066,019	994,599
Acquisitions		43,817
Effect of control loss in subsidiaries (Note 28)		(10,584)
Adjustment on fair value for business combinations (Note 12)		156
Disposals		(5,430)
Foreign currency translation		12,569
Transfers/reclassifications		30,892
Ending Balance		1,066,019
Cost [member] | Other intangibles [member]
Intangible assets
Beginning Balance	201,463
Acquisitions	11,456
Effect of business combination (Note 12)	666,455
Disposals	(226)
Foreign currency translation	83,856
Transfers/reclassifications	(22,924)
Ending Balance	940,080	201,463
Cost [member] | Other intangibles [member] | Electric power transmission lines
Intangible assets
Beginning Balance	400,758	285,247
Acquisitions		46,265
Effect of control loss in subsidiaries (Note 28)		0
Adjustment on fair value for business combinations (Note 12)		0
Disposals		0
Foreign currency translation		5,072
Transfers/reclassifications		64,174
Ending Balance		400,758
Cost [member] | Concessions and Rights [Member]
Intangible assets
Beginning Balance	351,108
Acquisitions	275,736
Effect of business combination (Note 12)	11,910,589
Disposals	(402)
Foreign currency translation	893,249
Transfers/reclassifications	73,161
Ending Balance	13,503,441	351,108
Cost [member] | Easements [Member]
Intangible assets
Beginning Balance	79,176
Acquisitions	16,891
Effect of business combination (Note 12)	1,618,801
Disposals	(79)
Foreign currency translation	18,553
Transfers/reclassifications	37
Ending Balance	1,733,379	79,176
Cost [member] | Intangible assets [Member]
Intangible assets
Beginning Balance	1,466,777
Acquisitions	444,346
Effect of business combination (Note 12)	14,326,479
Disposals	(22,288)
Foreign currency translation	1,078,055
Transfers/reclassifications	2,342
Ending Balance	17,295,711	1,466,777
Cost [member] | Intangible assets [Member] | Electric power transmission lines
Intangible assets
Beginning Balance	1,466,777	1,279,846
Acquisitions		90,082
Effect of control loss in subsidiaries (Note 28)		(10,584)
Adjustment on fair value for business combinations (Note 12)		156
Disposals		(5,430)
Foreign currency translation		17,641
Transfers/reclassifications		95,066
Ending Balance		1,466,777
Accumulated amortization and impairment losses [member] | Licences and Software member]
Intangible assets
Beginning Balance	(607,871)
Amortization of the period	123,796
Recovery -losses for impairment (Note 18)	(57)
Disposals	21,313
Foreign currency translation	(55,695)
Transfers/reclassifications	(171,303)
Ending Balance	(689,817)	(607,871)
Accumulated amortization and impairment losses [member] | Licences and Software member] | Electric power transmission lines
Intangible assets
Beginning Balance	(781,670)	(692,217)
Amortization of the period		(93,907)
Effect of control loss in subsidiaries (Note 28)		9,877
Recovery -losses for impairment (Note 18)		(176)
Disposals		5,558
Foreign currency translation		(8,689)
Transfers/reclassifications		(2,116)
Ending Balance		(781,670)
Accumulated amortization and impairment losses [member] | Other intangibles [member]
Intangible assets
Beginning Balance	(67,299)
Amortization of the period	(19,780)
Recovery -losses for impairment (Note 18)	0
Disposals	56
Foreign currency translation	(66,333)
Transfers/reclassifications	64
Ending Balance	(153,292)	(67,299)
Accumulated amortization and impairment losses [member] | Other intangibles [member] | Electric power transmission lines
Intangible assets
Beginning Balance	(130,064)	(104,531)
Amortization of the period		(23,429)
Effect of control loss in subsidiaries (Note 28)		0
Recovery -losses for impairment (Note 18)		5
Disposals		11
Foreign currency translation		(65)
Transfers/reclassifications		(2,055)
Ending Balance		(130,064)
Accumulated amortization and impairment losses [member] | Concessions and Rights [Member]
Intangible assets
Beginning Balance	(173,799)
Amortization of the period	(427,989)
Foreign currency translation	(447,697)
Transfers/reclassifications	171,360
Ending Balance	(878,125)	(173,799)
Accumulated amortization and impairment losses [member] | Easements [Member]
Intangible assets
Beginning Balance	(62,765)
Amortization of the period	(3,200)
Disposals	41
Transfers/reclassifications	(37)
Ending Balance	(65,961)	(62,765)
Accumulated amortization and impairment losses [member] | Intangible assets [Member]
Intangible assets
Beginning Balance	(911,734)
Amortization of the period	(327,173)
Recovery -losses for impairment (Note 18)	(57)
Disposals	21,410
Foreign currency translation	(569,725)
Transfers/reclassifications	84
Ending Balance	(1,787,195)	(911,734)
Accumulated amortization and impairment losses [member] | Intangible assets [Member] | Electric power transmission lines
Intangible assets
Beginning Balance	$ (911,734)	(796,748)
Amortization of the period		(117,336)
Effect of control loss in subsidiaries (Note 28)		9,877
Recovery -losses for impairment (Note 18)		(171)
Disposals		5,569
Foreign currency translation		(8,754)
Transfers/reclassifications		(4,171)
Ending Balance		$ (911,734)

Impairment of non-current ass_3

Impairment of non-current assets (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	$ (33,351)	$ (633,156)	$ (1,762,437)
Exploration and Production [Member]
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	438,020	(192,693)	(1,982,044)
Refining and petrochemicals [Member]
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	(305,466)	(781,528)	452,163
Transport and Logistics [member]
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	(165,901)	341,065	(232,556)
Electric power transmission and toll roads concessions [Member]
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	(4)
Impairment of Property, Plant and equipment [Member] | Financial statement segment [Member]
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	(281,132)	(384,638)	(373,123)
Natural and environmental resources [Member] | Financial statement segment [Member]
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	364,127	(217,709)	(1,017,061)
Investment in associates and joint ventures [Member] | Financial statement segment [Member]
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	(84,502)	(66,512)	(318,820)
Right-of-use assets | Financial statement segment [Member]
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	(31,783)	35,874	(53,488)
Others non-current assets [Member] | Financial statement segment [Member]
Disclosure of detailed information about impairment of non-current assets [Line Items]
Total of the impairment charge	$ (61)	$ (171)	$ 55

Impairment of non-current ass_4

Impairment of non-current assets - Exploration and production (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Exploration and production segment (reversal of impairment loss) recognised in profit or loss	$ 438,020	$ (192,693)	$ (1,982,044)
Oilfields [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Exploration and production segment (reversal of impairment loss) recognised in profit or loss	521,664	(123,652)	(1,663,082)
Investment in joint ventures (Note 12) [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Exploration and production segment (reversal of impairment loss) recognised in profit or loss	$ (83,644)	$ (69,041)	$ (318,962)

Impairment of non-current ass_5

Impairment of non-current assets - Breakdown of oilfields impairment losses (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Detailed information about impairment losses reservals of assets Exploration and Production
Impairment reversal (loss)	$ 438,020	$ (192,693)	$ (1,982,044)
Oilfields [Member]
Detailed information about impairment losses reservals of assets Exploration and Production
Impairment reversal (loss)	521,664	(123,652)	(1,663,082)
Fields in Colombia [Member] | Oilfields [Member] | Reversal [Member]
Detailed information about impairment losses reservals of assets Exploration and Production
Carrying amount	11,216,641	24,845,238	3,842,819
Recoverable amount	17,575,851	61,224,928	6,047,345
Impairment reversal (loss)	499,599	1,019,395	74,577
Fields in Colombia [Member] | Oilfields [Member] | Loss [Member]
Detailed information about impairment losses reservals of assets Exploration and Production
Carrying amount	239,046	2,439,799	4,992,462
Recoverable amount	136,698	1,423,561	3,322,284
Impairment reversal (loss)	(104,041)	(1,016,238)	(1,673,258)
Fields operated abroad | Oilfields [Member] | Reversal [Member]
Detailed information about impairment losses reservals of assets Exploration and Production
Carrying amount	1,142,593		200,910
Recoverable amount	1,306,219		539,785
Impairment reversal (loss)	$ 126,106		4,391
Fields operated abroad | Oilfields [Member] | Loss [Member]
Detailed information about impairment losses reservals of assets Exploration and Production
Carrying amount		1,277,609	68,792
Recoverable amount		1,150,800
Impairment reversal (loss)		$ (126,809)	$ (68,792)

Impairment of non-current ass_6

Impairment of non-current assets - Investments in joint ventures (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Detailed informations about impairment losses reversals of assets [Line Items]
Investment in associates and joint ventures	$ (83,644)	$ (69,041)	$ (318,962)
Offshore International Group
Detailed informations about impairment losses reversals of assets [Line Items]
Investment in associates and joint ventures		(76,969)	(184,209)
Equion Energy Limited
Detailed informations about impairment losses reversals of assets [Line Items]
Investment in associates and joint ventures	$ (83,644)	$ 7,928	$ (134,753)

Impairment of non-current ass_7

Impairment of non-current assets - Cash Generating Units (Details) - Refining and Petrochemical segment [Member] - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss	$ (305,466)	$ (781,528)	$ 452,163
Refineria De Cartagana [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss	34,650	(440,525)	911,597
Refineria De Cartagana [Member] | Carrying Amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss	26,808,008	24,041,174	22,292,788
Refineria De Cartagana [Member] | Recoverable amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss	26,842,658	23,600,649	23,204,385
Invercolsa
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss	(97)	(3)
Invercolsa | Carrying Amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss	292
Invercolsa | Recoverable amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss	195
Bioenergy [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss		(3)	(234,340)
Bioenergy [Member] | Carrying Amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss		276	575,331
Bioenergy [Member] | Recoverable amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss		273	340,991
Other.
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss			(225,094)
Other. | Carrying Amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss			901,517
Other. | Recoverable amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss			676,423
Refineria de Barrancabermeja (projects) [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss	(340,019)	(341,000)	$ (225,094)
Refineria de Barrancabermeja (projects) [Member] | Carrying Amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss	$ 340,019	676,334
Refineria de Barrancabermeja (projects) [Member] | Recoverable amount [Member]
Detailed informations about impairment losses reversals of assets [Line Items]
Impairment loss - Refining and petrochemical segment (reversal of impairment loss) recognized in profit or loss		$ 335,334

Impairment of non-current ass_8

Impairment of non-current assets - Additional information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)	Dec. 31, 2020COP ($)	Dec. 31, 2019COP ($)
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Information about prices based on information provided by specialized market analysts and management analysts	Oil price – Brent: the forecasts include USD$75.72/barrel for the first year, USD$62.60/barrel for the medium term and USD$61.89/barrel for the long term.	In 2020, the assumptions taken USD$46.36/barrel for the first year, USD$57.00/barrel for the medium term and USD$67.77/
Impairment loss relating to South Cash Generating Unit	$ 160,653
Others non-current assets [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Impairment loss relating to South Cash Generating Unit	$ 142
Yaguara Tenay Systems [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Percentage of Asset Impaired Under Cash Generating Units	39.00%
Turbo Generator [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Impairment loss relating to South Cash Generating Unit	$ 2,545
Cenit Transporte y Logistica S.A.S. [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Reversal of impairment loss recognised in profit or loss, biological assets		$ 341,065
Recoverable amount of asset or cash-generating unit		7,049,007
Cash Generating Unit Carrying Amount		$ 2,153,631
Offshore International Group
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Discount rate used in current estimate of value in use		5.79%	8.50%
Impairment loss		$ 609,826
Refineria De Cartagana [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Discount rate used in current estimate of value in use	5.30%	5.10%	6.20%
Refineria de Barrancabermeja (projects) [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Expense for impairment			$ 225,094
Weighted average cost of capital, measurement input [member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Weighted average cost of capital, significant unobservable inputs, assets	4.94	3.67	6.31
Bioenergy [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Discount rate used in current estimate of value in use			6.03%
Impairment loss recognised in profit or loss, biological assets			$ 234,340
Transportation and logistics segment [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Discount rate used in current estimate of value in use	2.95%	3.17%	4.88%
Impairment loss			$ 232,556
Impairment loss relating to South Cash Generating Unit			106,983
Impairment Loss Relating to North Cash Generating Unit			$ 125,140
Yaguara Tenay Systems [Member] | Turbo Generator [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Impairment loss relating to South Cash Generating Unit	$ 2,845
Refineria de Barrancabermeja (projects) [Member]
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items]
Reversal of impairment loss recognised in profit or loss, biological assets	$ 340,019	$ 341,000

Goodwill (Details)

Goodwill (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Goodwill From Acquisitions [Abstract]
Goodwill.	$ 4,686,324	$ 1,594,279
Cost [member]
Goodwill From Acquisitions [Abstract]
Goodwill.	4,983,445	1,891,400
Cost [member] | Interconexin Elctrica S.A. ESP
Goodwill From Acquisitions [Abstract]
Goodwill.	3,092,045	0
Cost [member] | Oleoducto Central S.A.
Goodwill From Acquisitions [Abstract]
Goodwill.	683,496	683,496
Cost [member] | Hocol petroleum limited
Goodwill From Acquisitions [Abstract]
Goodwill.	537,598	537,598
Cost [member] | Invercolsa
Goodwill From Acquisitions [Abstract]
Goodwill.	434,357	434,357
Cost [member] | Andean chemical limited [Member]
Goodwill From Acquisitions [Abstract]
Goodwill.	127,812	127,812
Cost [member] | Esenttia S.A. [Member]
Goodwill From Acquisitions [Abstract]
Goodwill.	108,137	108,137
Accumulated impairment [member]
Goodwill From Acquisitions [Abstract]
Goodwill.	$ (297,121)	$ (297,121)

Loans and borrowings (Details)

Loans and borrowings (Details) $ in Millions, $ in Millions		Dec. 31, 2021COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2020USD ($)
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 95,060,928		$ 46,731,754
Current		9,206,283		4,923,346
Non-current		85,854,645		41,808,408
2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	9,206,283		4,923,346
Other local currency
Disclosure of detailed information about borrowings [line items]
Borrowings		7,881,775		3,044,437
Other foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 87,179,153		$ 43,687,317
Bonds [Member] | Other local currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		9.10%	9.10%	6.40%	6.40%
Borrowings		$ 4,941,024		$ 1,084,461
Bonds [Member] | Other foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	[2]	5.70%	5.70%	6.00%	6.00%
Borrowings	[2]	$ 66,603,695		$ 33,944,548
Syndicated Loan [Member] | Other local currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		5.40%	5.40%	5.60%	5.60%
Borrowings		$ 600,452		$ 811,079
Lease liabilities. | Other local currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	[3]	6.30%	6.30%	6.60%	6.60%
Borrowings	[3]	$ 823,922		$ 836,489
Lease liabilities. | Other foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	[3]	6.00%	6.00%	6.10%	6.10%
Borrowings	[3]	$ 341,177		$ 218,709
Commercial loans [Member] | Other local currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		7.80%	7.80%	6.30%	6.30%
Borrowings		$ 1,516,377		$ 312,408
Commercial loans [Member] | Other foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	[4]	3.50%	3.50%	3.60%	3.60%
Borrowings	[4]	$ 18,750,580		$ 8,247,014
Loans From Related Parties [Member] | Other foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate		0.30%	0.30%	0.80%	0.80%
Borrowings		$ 1,483,701		$ 1,277,046
Committed credit line
Disclosure of detailed information about borrowings [line items]
Borrowings			$ 665		$ 665
Other local currency
Disclosure of detailed information about borrowings [line items]
Borrowings		7,881,775		3,044,437
Other local currency | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	889,690		581,958
Other local currency | Bonds [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		4,941,024		1,084,461
Other local currency | Bonds [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	290,858		65,829
Other local currency | Lease liabilities.
Disclosure of detailed information about borrowings [line items]
Borrowings		823,922		836,489
Other local currency | Lease liabilities. | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	188,477		167,059
Other local currency | Commercial loans [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		1,516,377		312,408
Other local currency | Commercial loans [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	170,758		106,410
Other foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings		87,179,153		43,687,317
Other foreign currency | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	8,316,593		4,341,388
Other foreign currency | Bonds [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		66,603,695		33,944,548
Other foreign currency | Bonds [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	3,275,138		1,905,325
Other foreign currency | Lease liabilities.
Disclosure of detailed information about borrowings [line items]
Borrowings		341,177		218,709
Other foreign currency | Lease liabilities. | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	100,046		60,424
Other foreign currency | Commercial loans [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		18,750,580		8,247,014
Other foreign currency | Commercial loans [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	3,457,708		1,098,593
Other foreign currency | Loans From Related Parties [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		1,483,701		1,277,046
Other foreign currency | Loans From Related Parties [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	$ 1,483,701		$ 1,277,046
[1]	Includes short-term credit and the current portion of long-term debt, as applicable.
[2]	On October 27, public debt bonds were issued for USD $2,000 million, with maturity of 10 and 30 years , at coupon rates of 4.625% and 5.875% , respectively, to partially refinance the loan obtained for the acquisition of 51.4% of Interconexión Eléctrica S.A. (ISA). The movement of foreign currency bonds also corresponds to the increase in the exchange rate.
[3]	Corresponds to present value of the payments to be made during the term of the operative lease contracts of pipelines, tanks, property, and vehicles, recognized by the implementation of IFRS 16 – Leases (See Note 16).
[4]	Corresponds mainly to the credit with international banks for the acquisition of ISA for USD $3,672 million (the equivalent value in pesos received corresponds to $14,190,267 ) subscribed between Ecopetrol and Banco Santander S.A., Citibank N.A., JPMorgan Chase Bank, N.A., and The Bank of Nova Scotia, each with a 25% participation. The main conditions of the financing are: (i) payment of 100% principal at maturity within a period of 2 years from the date of subscription of the contract; (ii) an interest rate of Libor USD (3M) + 80 basis points and (iii) an initial aggregate commission of 30 basis points. The Costs related to the issuance of debt correspond to $42,699 (Note 12).

Loans and borrowings - Addition

Loans and borrowings - Additional Information (Details) $ in Millions		Oct. 27, 2021USD ($)	Dec. 31, 2021COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2021USD ($)	Nov. 26, 2021USD ($)	Dec. 31, 2020USD ($)	Apr. 29, 2020COP ($)	Apr. 29, 2020USD ($)
Disclosure of detailed information about borrowings [line items]
Financial instruments designated as hedging instruments, at fair value			$ 8,208		$ 7,475		$ 330,000,000	$ 7,475,000,000
Guaranteed loan amount				$ 18,236,351
Bonds issued									$ 14,190,267	$ 3,672,000,000
Coupon Interest Rate			25.00%	25.00%	100.00%
Non-derivative financial liabilities, undiscounted cash flows			$ 122,469,554
Fair value of loans and borrowings			99,258,034		$ 52,721,790
Consideration paid	[1]		(13,900,836)
Debt issuance costs			$ 42,699	$ 42,699,000,000
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						$ 8,315,000,000
Cash flow hedging
Disclosure of detailed information about borrowings [line items]
Financial instruments designated as hedging instruments, at fair value						4,972,000,000
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						$ 13,287,000,000		$ 8,549,000,000
Bonds Member [Member]
Disclosure of detailed information about borrowings [line items]
Bonds issued		$ 2,000,000,000
Bonds Member [Member] | Interconexin Elctrica S.A. ESP Acquisition [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings, adjustment to interest rate basis		51.40%
Bonds Member [Member] | Maturity of 10 Years
Disclosure of detailed information about borrowings [line items]
Coupon Interest Rate		4.625%
Ifrs Debt Instrument, Term		10 years
Bonds Member [Member] | Maturity of 30 years
Disclosure of detailed information about borrowings [line items]
Coupon Interest Rate		5.875%
Ifrs Debt Instrument, Term		30 years
[1]	The consideration transferred corresponds to the payment made to the former controlling shareholder of ISA, reduced by the dividends received at the time of closing the transaction.

Loans and borrowings - Breakdow

Loans and borrowings - Breakdown by type of interest rate and currency (Details) - COP ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 95,060,928	$ 46,731,754
2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	9,206,283	4,923,346
From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		44,942,535	22,953,532
2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		20,156,688	13,285,454
More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		20,755,422	5,569,422
Other local currency
Disclosure of detailed information about borrowings [line items]
Borrowings		7,881,775	3,044,437
Other local currency | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	889,690	581,958
Other local currency | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		2,393,660	1,547,436
Other local currency | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		2,302,286	582,133
Other local currency | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		2,296,139	332,910
Other local currency | Bonds [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		4,941,024	1,084,461
Other local currency | Bonds [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	290,858	65,829
Other local currency | Bonds [Member] | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		1,152,829	354,081
Other local currency | Bonds [Member] | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		1,423,909	370,900
Other local currency | Bonds [Member] | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		2,073,428	293,651
Other local currency | Syndicated Loans
Disclosure of detailed information about borrowings [line items]
Borrowings		600,452	811,079
Other local currency | Syndicated Loans | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	239,597	242,660
Other local currency | Syndicated Loans | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		360,855	568,419
Other local currency | Syndicated Loans | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		0	0
Other local currency | Syndicated Loans | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		0	0
Other local currency | Commercial loans [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		1,516,377	312,408
Other local currency | Commercial loans [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	170,758	106,410
Other local currency | Commercial loans [Member] | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		539,693	205,998
Other local currency | Commercial loans [Member] | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		595,307	0
Other local currency | Commercial loans [Member] | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		210,619	0
Other local currency | Lease liabilities.
Disclosure of detailed information about borrowings [line items]
Borrowings		823,922	836,489
Other local currency | Lease liabilities. | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	188,477	167,059
Other local currency | Lease liabilities. | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		340,283	418,938
Other local currency | Lease liabilities. | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		283,070	211,233
Other local currency | Lease liabilities. | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		12,092	39,259
Other foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings		87,179,153	43,687,317
Other foreign currency | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	8,316,593	4,341,388
Other foreign currency | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		42,548,875	21,406,096
Other foreign currency | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		17,854,402	12,703,321
Other foreign currency | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		18,459,283	5,236,512
Other foreign currency | Bonds [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		66,603,695	33,944,548
Other foreign currency | Bonds [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	3,275,138	1,905,325
Other foreign currency | Bonds [Member] | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		27,550,698	14,692,852
Other foreign currency | Bonds [Member] | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		17,515,876	12,109,859
Other foreign currency | Bonds [Member] | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		18,261,983	5,236,512
Other foreign currency | Commercial loans [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		18,750,580	8,247,014
Other foreign currency | Commercial loans [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	3,457,708	1,098,593
Other foreign currency | Commercial loans [Member] | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		14,792,560	6,563,863
Other foreign currency | Commercial loans [Member] | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		303,012	584,558
Other foreign currency | Commercial loans [Member] | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		197,300	0
Other foreign currency | Loans From Related Parties [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings		1,483,701	1,277,046
Other foreign currency | Loans From Related Parties [Member] | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	1,483,701	1,277,046
Other foreign currency | Loans From Related Parties [Member] | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		0	0
Other foreign currency | Loans From Related Parties [Member] | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		0	0
Other foreign currency | Loans From Related Parties [Member] | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		0	0
Other foreign currency | Lease liabilities.
Disclosure of detailed information about borrowings [line items]
Borrowings		341,177	218,709
Other foreign currency | Lease liabilities. | 2022.
Disclosure of detailed information about borrowings [line items]
Borrowings	[1]	100,046	60,424
Other foreign currency | Lease liabilities. | From 1 to 5 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		205,617	149,381
Other foreign currency | Lease liabilities. | 2027 and thereafter.
Disclosure of detailed information about borrowings [line items]
Borrowings		35,514	8,904
Other foreign currency | Lease liabilities. | More than 10 years [member]
Disclosure of detailed information about borrowings [line items]
Borrowings		0	0
Fixed interest rate [member] | Other local currency
Disclosure of detailed information about borrowings [line items]
Borrowings		1,239,723	523,870
Fixed interest rate [member] | Other foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings		69,427,014	38,706,328
Floating interest rate | Other local currency
Disclosure of detailed information about borrowings [line items]
Borrowings		6,642,052	2,520,567
Floating interest rate | Other foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 17,752,139	$ 4,980,989
[1]	Includes short-term credit and the current portion of long-term debt, as applicable.

Loans and borrowings - Movement

Loans and borrowings - Movement of net financial debt (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of net financial debt explanatory [Line Items]
Cash flow	$ 9,467,598	$ (1,993,450)	$ 764,014
Exchange difference Recognized in profit or loss	330,002	346,774	40,639
Financial cost registered to projects	(4,431,648)	(3,929,791)	(3,334,469)
Financial income (expense) recognized in profit or loss	(3,698,054)	(2,481,587)	(1,670,494)
Effect of business combination (Note 12) (2)		(43,991)
Cash and equivalents [Member]
Disclosure of net financial debt explanatory [Line Items]
Begining Balance	5,082,308	7,075,758
Cash flow	3,992,936	(1,971,156)
Exchange difference Recognized in profit or loss	491,428	(22,294)
Exchange difference Recognized in other comprehensive income	0	0
Financial cost registered to projects	0	0
Financial income (expense) recognized in profit or loss	0	0
Foreign currency translation	0	0
Valuation recognized in results and OCI	0
Uploading index	0
Effect of business combination (Note 12) (2)	4,983,234	0
Other movements that do not generate cash flow	0	0
Ending Balance	14,549,906	5,082,308	7,075,758
Other financial assets [Member]
Disclosure of net financial debt explanatory [Line Items]
Begining Balance	3,071,659	4,979,292
Cash flow	(1,317,936)	(2,107,856)
Exchange difference Recognized in profit or loss	76,085	38,701
Exchange difference Recognized in other comprehensive income	0	0
Financial cost registered to projects	0	0
Financial income (expense) recognized in profit or loss	7,431	43,948
Foreign currency translation	55,306	42,529
Valuation recognized in results and OCI	(1,632)
Uploading index	0
Effect of business combination (Note 12) (2)	1,093,941	0
Other movements that do not generate cash flow	(50,120)	75,045
Ending Balance	2,934,734	3,071,659	4,979,292
Loans and borrowings [Member]
Disclosure of net financial debt explanatory [Line Items]
Begining Balance	(46,731,754)	(38,239,139)
Cash flow	(9,729,667)	(6,105,296)
Exchange difference Recognized in profit or loss	(810,358)	747,744
Exchange difference Recognized in other comprehensive income	(6,113,502)	(722,458)
Financial cost registered to projects	(255,708)	(255,372)
Financial income (expense) recognized in profit or loss	(3,095,224)	(2,386,537)
Foreign currency translation	(821,889)	(175,885)
Uploading index	(85,652)
Effect of business combination (Note 12) (2)	(27,458,935)	528,981
Other movements that do not generate cash flow	41,761	(123,792)
Ending Balance	(95,060,928)	(46,731,754)	(38,239,139)
Net financial debt [Member]
Disclosure of net financial debt explanatory [Line Items]
Begining Balance	(38,577,787)	(26,184,089)
Cash flow	(7,054,667)	(10,184,308)
Exchange difference Recognized in profit or loss	(242,845)	764,151
Exchange difference Recognized in other comprehensive income	(6,113,502)	(722,458)
Financial cost registered to projects	(255,708)	(255,372)
Financial income (expense) recognized in profit or loss	(3,087,793)	(2,342,589)
Foreign currency translation	(766,583)	(133,356)
Valuation recognized in results and OCI	(1,632)
Uploading index	(85,652)
Effect of business combination (Note 12) (2)	(21,381,760)	528,981
Other movements that do not generate cash flow	(8,359)	(48,747)
Ending Balance	(77,576,288)	$ (38,577,787)	$ (26,184,089)
Loans and financing, lease liabilities [Member]
Disclosure of net financial debt explanatory [Line Items]
Effect of business combination (Note 12) (2)	255,503
Loans and financing [member]
Disclosure of net financial debt explanatory [Line Items]
Effect of business combination (Note 12) (2)	$ 27,203,432

Trade and other payables (Detai

Trade and other payables (Details) - COP ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020
Current
Suppliers		$ 10,470,260	$ 6,491,909
Partners' advances		1,060,349	497,898
Withholding tax		717,720	462,429
Insurance and reinsurance		294,114	240,803
Deposits received from third parties	[1]	136,310	84,436
Related parties (Note 31)		66,598	72,316
Dividends payable (2)		58,668	223,571
Agreements in transport contracts (3)	[2],[3]	33,883	37,941
Hedging operations (4)	[4]	2,032	6,405
Various creditors (1)	[1]	728,297	331,333
Current		13,568,231	8,449,041
Non-current
Suppliers		8,260	0
Deposits received from third parties (1)	[1]	33	1,109
Various creditors (1)	[1]	62,314	19,955
Non-current		$ 70,607	$ 21,064
[1]	For presentation purposes, this note includes the current and non-current trade and other payables, for comparative years 2021-2020.
[2]	Corresponds to the value of the payables for agreements agreed in the transportation contracts for pipelines, calculated in volumetric quality compensation and other inventory management arrangements.
[3]	For presentation purposes, this note includes the current and non-current trade and other payables, for comparative years 2021-2020.
[4]	Corresponds to the balance payable for the liquidation of swap contracts acquired to hedge the price risk of export crude oil.

Provisions for employees' ben_3

Provisions for employees' benefits (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Post-employment benefits
Post-employment benefits	$ 11,379,045	$ 12,423,667
Current	2,296,253	2,022,137
Non-current	9,082,792	10,401,530
Healthcare [Member]
Post-employment benefits
Post-employment benefits	6,636,809	7,193,527
Pension [Member]
Post-employment benefits
Post-employment benefits	2,159,530	2,819,985
Education
Post-employment benefits
Post-employment benefits	443,761	485,792
Bonds [Member]
Post-employment benefits
Post-employment benefits	320,833	342,669
Other plans [Member]
Post-employment benefits
Post-employment benefits	91,476	102,632
Termination benefits - Voluntary retirement plan [Member]
Post-employment benefits
Post-employment benefits	746,585	713,407
Post employment and termination benefits [Member]
Post-employment benefits
Post-employment benefits	10,398,994	11,658,012
Social benefits and salaries [Member]
Post-employment benefits
Post-employment benefits	856,198	674,080
Other Employment Benefts [Member]
Post-employment benefits
Post-employment benefits	$ 123,853	$ 91,575

Provisions for employees' ben_4

Provisions for employees' benefits - Net of post-employment benefits (Details) - COP ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Employee benefits liabilities
Opening balance		$ 24,830,977	$ 23,509,643
Effect of business combination		847,099	0
Current service cost		132,352	118,035
Past service cost	[1]	129,328	631,761
Interest expense		1,353,138	1,322,467
Transferred benefits		(577)	0
Actuarial (gains) losses		(3,376,966)	505,498
Benefits paid		(1,437,374)	(1,256,427)
Foreign currency translation		(10,458)	0
Closing balance		22,467,519	24,830,977
Plan assets
Opening balance		13,172,965	12,712,853
Effect of business combination		11,004	0
Return on assets		691,951	700,304
Contributions to funds		504,511	370,090
Benefits paid		(1,427,264)	(1,255,260)
Actuarial (losses) gains		(884,642)	644,978
Closing balance		12,068,525	13,172,965
Net post-employment benefits liability		10,398,994	11,658,012
Pension and pension bonds [Member]
Employee benefits liabilities
Opening balance	[2]	16,320,383	15,916,472
Effect of business combination	[2]	545,319	0
Current service cost	[2]	10,948	0
Past service cost	[1],[2]	3,545	0
Interest expense	[2]	867,644	882,785
Transferred benefits	[2]	0	0
Actuarial (gains) losses	[2]	(2,285,738)	418,187
Benefits paid	[2]	(931,051)	(897,061)
Foreign currency translation	[2]	(10,458)	0
Closing balance	[2]	14,520,592	16,320,383
Plan assets
Opening balance	[2]	13,157,729	12,709,838
Effect of business combination	[2]	0	0
Return on assets	[2]	691,584	700,168
Contributions to funds	[2]	0	0
Benefits paid	[2]	(924,924)	(897,061)
Actuarial (losses) gains	[2]	(884,160)	644,784
Closing balance	[2]	12,040,229	13,157,729
Net post-employment benefits liability	[2]	2,480,363	3,162,654
Other Member
Employee benefits liabilities
Opening balance		8,510,594	7,593,171
Effect of business combination		301,780	0
Current service cost		121,404	118,035
Past service cost	[1]	125,783	631,761
Interest expense		485,494	439,682
Transferred benefits		(577)	0
Actuarial (gains) losses		(1,091,228)	87,311
Benefits paid		(506,323)	(359,366)
Foreign currency translation		0	0
Closing balance		7,946,927	8,510,594
Plan assets
Opening balance		15,236	3,015
Effect of business combination		11,004	0
Return on assets		367	136
Contributions to funds		504,511	370,090
Benefits paid		(502,340)	(358,199)
Actuarial (losses) gains		(482)	194
Closing balance		28,296	15,236
Net post-employment benefits liability		$ 7,918,631	$ 8,495,358
[1]	It includes the new voluntary retirement plan
[2]	There is no cost for the pension and pension plans service since the beneficiaries were retired as of July 31, 2010 .

Provisions for employees' ben_5

Provisions for employees' benefits - Movement in profit and loss and in other comprehensive income (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Profit or loss
Interest expense. Net	$ 658,476	$ 622,163	$ 537,893
Current service cost	104,246	118,035	76,478
Remeasurements	(211)	0	10,213
Benefits plan costs recognized in profit or loss	762,511	740,198	624,584
Other comprehensive income
Recognized in other comprehensive income	2,456,667	137,459	(2,571,184)
Deferred tax	(679,510)	(41,238)	771,355
Other comprehensive income, net of taxes	1,777,157	96,221	(1,799,829)
Pension and pension bonds [Member]
Other comprehensive income
Recognized in other comprehensive income	1,401,578	226,597	(1,303,693)
Healthcare [Member]
Other comprehensive income
Recognized in other comprehensive income	991,050	(33,324)	(1,268,379)
Education
Other comprehensive income
Recognized in other comprehensive income	63,222	(55,693)	922
Termination benefits - Voluntary retirement plan [Member]
Other comprehensive income
Recognized in other comprehensive income	0	(121)	(34)
Other movements [Member]
Other comprehensive income
Recognized in other comprehensive income	$ 817	$ 0	$ 0

Provisions for employees' ben_6

Provisions for employees' benefits - Plan assets of pension and pension bonds (Details) - Pension Trust - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of defined benefit plans [line items]
Assets of benefit plan	$ 12,068,525	$ 13,172,965
Floating interest rate
Disclosure of defined benefit plans [line items]
Debt instruments, amount contributed to fair value of plan assets	1,026,862	679,448
Other foreign currency
Disclosure of defined benefit plans [line items]
Debt instruments, amount contributed to fair value of plan assets	113,012	1,992,800
Other local currency
Disclosure of defined benefit plans [line items]
Debt instruments, amount contributed to fair value of plan assets	5,422,709	1,502,349
Bonds issued by the national government
Disclosure of defined benefit plans [line items]
Debt instruments, amount contributed to fair value of plan assets	2,758,728	4,958,612
Bonds of private entities
Disclosure of defined benefit plans [line items]
Debt instruments, amount contributed to fair value of plan assets	2,393,322	3,177,531
Other public bonds
Disclosure of defined benefit plans [line items]
Debt instruments, amount contributed to fair value of plan assets	302,254	777,562
Bonds of foreign entities
Disclosure of defined benefit plans [line items]
Cash and cash equivalents, amount contributed to fair value of plan assets	$ 51,638	$ 84,663

Provisions for employees' ben_7

Provisions for employees' benefits - Credit ratings of the issuers and counterparties in assets (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	$ 12,068,525	$ 13,172,965
AAA [Member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	7,183,658	4,369,805
Nation [Member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	2,871,610	5,102,222
AA+ [member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	455,875	570,716
F1+ [Member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	112,284	61,192
BAA3 [member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	78,216	0
AA [Member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	74,350	134,454
BBB+ [member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	40,928	10,328
BBB- [member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	39,865	458,273
BRC1+ [Member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	37,884	52,296
BAA1 [member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	18,855	0
AA- [member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	9,558	4,014
A [Member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	5,834	5,307
BBB [Member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	0	201,163
A3 [member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	0	11,633
Other credit ratings [member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	47,348	297,048
Not available ratings [member]
Disclosure of defined benefit plans [line items]
Plan assets, at fair value	$ 1,092,260	$ 1,894,514

Provisions for employees' ben_8

Provisions for employees' benefits - Actuarial assumptions (Details)	Dec. 31, 2021	Dec. 31, 2020
Pension [Member]
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate		5.50%
Salary growth rate	4.50%
Expected inflation rate		3.00%
Pension growth rate		3.00%
Pension [Member] | Top of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	8.70%
Expected inflation rate	4.00%
Pension growth rate	3.50%
Pension [Member] | Bottom of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	5.18%
Expected inflation rate	3.00%
Pension growth rate	3.00%
Bonds [Member]
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate		4.75%
Expected inflation rate	3.00%	3.00%
Bonds [Member] | Top of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	6.25%
Bonds [Member] | Bottom of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	5.00%
Healthcare [Member]
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate		6.00%
Expected inflation rate	3.00%	3.00%
Cost trend - Short-term rate	6.67%	6.67%
Cost trend - Long-term rate	4.00%	4.00%
Healthcare [Member] | Top of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	8.80%
Healthcare [Member] | Bottom of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	7.00%
Education
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate		5.00%
Salary growth rate	4.50%
Expected inflation rate	3.00%	3.00%
Cost trend - Short-term rate	4.00%	4.00%
Cost trend - Long-term rate	4.00%	4.00%
Education | Top of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	8.90%
Education | Bottom of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	6.30%
Other benefits.
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate		4.09%
Salary growth rate		4.70%
Expected inflation rate		3.00%
Pension growth rate	3.50%
Cost trend - Long-term rate	4.70%
Other benefits. | Top of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	7.10%
Salary growth rate	4.70%	4.70%
Expected inflation rate	4.00%
Other benefits. | Bottom of range
Disclosure of detailed information about provision for employee benefits [Line Items]
Discount rate	5.56%
Salary growth rate	4.50%
Expected inflation rate	3.00%

Provisions for employees' ben_9

Provisions for employees' benefits - Maturity of benefit obligation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)
2022
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	$ 1,510,114
2022 | Pension and pension bonds [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	999,575
2022 | Other plans [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	510,539
2023.
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	1,552,846
2023. | Pension and pension bonds [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	1,027,226
2023. | Other plans [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	525,620
2024
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	1,599,017
2024 | Pension and pension bonds [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	1,069,119
2024 | Other plans [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	529,898
2025
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	1,607,800
2025 | Pension and pension bonds [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	1,076,416
2025 | Other plans [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	531,384
2026
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	1,638,359
2026 | Pension and pension bonds [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	1,108,696
2026 | Other plans [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	529,663
2027 and thereafter
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	8,381,194
2027 and thereafter | Pension and pension bonds [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	5,714,448
2027 and thereafter | Other plans [Member]
Disclosure of defined benefit plans [line items]
Estimate of contributions expected to be paid to plan for next annual reporting period	$ 2,666,746

Provisions for employees' be_10

Provisions for employees' benefits - Sensitivity analysis (Details) $ in Millions	Dec. 31, 2021COP ($)
Discount rate [Member] | Pension [Member]
Disclosure of defined benefit plans [line items]
-50 basis points	$ 13,639,890
+50 basis points	12,320,218
Discount rate [Member] | Bonds [Member]
Disclosure of defined benefit plans [line items]
-50 basis points	1,079,858
+50 basis points	1,014,678
Discount rate [Member] | Education
Disclosure of defined benefit plans [line items]
-50 basis points	434,192
+50 basis points	398,399
Discount rate [Member] | Other plans [Member]
Disclosure of defined benefit plans [line items]
-50 basis points	867,453
+50 basis points	836,192
Discount rate [Member] | Health [Member]
Disclosure of defined benefit plans [line items]
-50 basis points	6,893,605
+50 basis points	6,019,242
Inflation rate [Member] | Pension [Member]
Disclosure of defined benefit plans [line items]
-50 basis points	12,265,258
+50 basis points	13,692,090
Inflation rate [Member] | Bonds [Member]
Disclosure of defined benefit plans [line items]
-50 basis points	1,013,016
+50 basis points	1,080,136
Inflation rate [Member] | Other plans [Member]
Disclosure of defined benefit plans [line items]
-50 basis points	747,303
+50 basis points	769,637
Salary growth rate [Member] | Education
Disclosure of defined benefit plans [line items]
-50 basis points	2
+50 basis points	2
Salary growth rate [Member] | Other plans [Member]
Disclosure of defined benefit plans [line items]
-50 basis points	89,570
+50 basis points	96,968
Cost trend [Member] | Education
Disclosure of defined benefit plans [line items]
-50 basis points	398,143
+50 basis points	434,328
Cost trend [Member] | Health [Member]
Disclosure of defined benefit plans [line items]
-50 basis points	6,021,414
+50 basis points	$ 6,887,785

Provisions for employees' be_11

Provisions for employees' benefits - Additional Information (Details) $ in Millions	1 Months Ended	12 Months Ended
	May 31, 2020item	Dec. 31, 2021USD ($)employeeitem	Dec. 31, 2020USD ($)employee
Disclosure of defined benefit plans [line items]
Number of workers utilized voluntary retirement plan	421	125
Number of modalities	4
Termination benefits - Voluntary retirement plan [Member]
Disclosure of defined benefit plans [line items]
Termination benefits expense | $		$ 746,585	$ 713,407
Number of workers utilized voluntary retirement plan | employee		94	421
Number of modalities		4
Level 1
Disclosure of defined benefit plans [line items]
Percentage of plan assets		36.99%	23.30%
Level 2
Disclosure of defined benefit plans [line items]
Percentage of plan assets		63.01%	76.70%

Accrued liabilities and provi_3

Accrued liabilities and provisions (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	$ 12,427,730	$ 9,918,288	$ 7,754,012
Increase in abandonment costs	500,868	2,307,453	2,188,928
Effect of business combination	947,883
Additions	714,839	412,609	262,253
Uses	(896,508)	(429,950)	(515,288)
Financial cost	303,526	258,464	226,806
Effect of loss of control in subordinates (Note 28)		(43,991)
Adjustment on fair value for business combinations (Note 12)		31,137
Foreign currency translation	191,452	43,143	(3,950)
Transfers	42,417	(69,423)	5,527
Balance End Period	14,232,207	12,427,730	9,918,288
Current	1,590,118	1,221,109	789,297
Non-current	12,642,089	11,206,621	9,128,991
Asset retirement obligation [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	11,239,325	8,835,420	6,719,275
Increase in abandonment costs	500,868	2,307,453	2,188,928
Additions	242,435	143,320	112,486
Uses	(548,133)	(291,793)	(410,191)
Financial cost	292,329	258,464	226,803
Effect of loss of control in subordinates (Note 28)		(23,874)
Adjustment on fair value for business combinations (Note 12)		31,137
Foreign currency translation	152,212	37,239	(5,240)
Transfers	11,283	(58,041)	3,359
Balance End Period	11,890,319	11,239,325	8,835,420
Current	1,041,674	949,638	589,411
Non-current	10,848,645	10,289,687	8,246,009
Litigations
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	118,139	137,429	127,945
Increase in abandonment costs	0	0	0
Effect of business combination	329,123
Additions	261,785	32,108	58,913
Uses	(13,453)	(31,709)	(45,342)
Financial cost	3,925	0	0
Effect of loss of control in subordinates (Note 28)		(20,117)
Foreign currency translation	4,466	428	79
Transfers	(19)		(4,166)
Balance End Period	703,966	118,139	137,429
Current	59,843	46,844	28,662
Non-current	644,123	71,295	108,767
Environmental contingencies and other
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	1,070,266	945,439	906,792
Increase in abandonment costs	0	0	0
Effect of business combination	618,760
Additions	210,619	237,181	90,854
Uses	(334,922)	(106,448)	(59,755)
Financial cost	7,272	0	3
Foreign currency translation	34,774	5,476	1,211
Transfers	31,153	(11,382)	6,334
Balance End Period	1,637,922	1,070,266	945,439
Current	488,601	224,627	171,224
Non-current	$ 1,149,321	$ 845,639	$ 774,215

Accrued liabilities and provi_4

Accrued liabilities and provisions - Litigation (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Hydrocarbon Easement Case [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Legal proceedings in process, damages sought, value	$ 11,019	$ 11,019
CTEEP Regulatory Contingency, Case [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Legal proceedings in process, damages sought, value	27,993
Public Works Contributions, Case [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Legal proceedings in process, damages sought, value	$ 203,160

Accrued liabilities and provi_5

Accrued liabilities and provisions - Additional information (Details) $ in Millions	Apr. 26, 2021COP ($)item	Jun. 28, 2019USD ($)	Jun. 05, 2018item	Mar. 16, 2018USD ($)	May 25, 2016USD ($)	Mar. 08, 2016USD ($)	Dec. 31, 2021USD ($)item	Dec. 31, 2020	Jun. 28, 2019COP ($)	Jun. 28, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 16, 2018COP ($)	Mar. 16, 2018USD ($)	Apr. 28, 2017COP ($)	Apr. 28, 2017USD ($)	Dec. 31, 2015USD ($)
Disclosure of accrued liabilities and provisions [Line Items]
Mandatory investments, natural resources							1.00%	1.00%
Legal proceedings in process, claims made, value | $					$ 213,000,000
Number of issues of an administrative nature established							3
Number of contractor companies that provided their services during the execution of the project	4		5
Number of insurance companies as civilly responsible third party	4		5
Number of reinsurers as civilly responsible third party			2
Expansion and modernization project | $	$ 2.9
Number of former officials							8
Number of former presidents							3
Number of former financial vice-presidents							5
Alleged damages | $							$ 268,710,000				$ 12,447,618					$ 9,240,927
Refinera de Cartagena SA [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Legal proceedings in process, claims made, value | $						$ 2,000,000,000
Contingent asset claim												$ 432,303	$ 129,000,000
Contingent asset claim invoices provisionally paid | $		$ 137,000,000		$ 139,000,000			$ 122,000,000
Legal proceedings in process, claims made, value updated including interest									$ 503,241	$ 137,000,000
Contingent asset non detailed counterclaim														$ 387,558	$ 116,000,000
Contingent Asset Compliance Letter Of Credit | $															$ 70,000,000
Bicentenario, Cenit And Frontera Settlement Agreement [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Description of new transportation contracts							Within the signed agreement, it was established that Frontera would recognize the existence of the contracts in dispute as of December 31, 2019, transfering to Cenit its 43.03% of shares in the Oleoducto Bicentenario, the resources of the trust company assignment corresponding to the tariff disagreement, and deliver to Cenit the full line of the Oleoducto Bicentenario, in addition to allowing the company to offset a portion of its Bicentenario syndicated debt with the pending dividends to be declared and existing accounts receivable in favor of Frontera as of December 31, 2019.
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	7		9
Number of ex-workers of the Board of Directors to whom responsibility is imputed	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			1
Exploration and Production [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Discount rate applied to cash flow projections							2.89%	2.65%
Transport and logistics [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Discount rate applied to cash flow projections							3.14%	2.71%
Refining and petrochemicals [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Discount rate applied to cash flow projections							4.21%	3.67%

Accrued liabilities and provi_6

Accrued liabilities and provisions - Legal proceedings not recognised (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)item	Dec. 31, 2020COP ($)item
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes | item	1,079	1,143
Proceedings amount | $	$ 3,304,880	$ 16,601,417
Constitutional
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes | item	86	254
Proceedings amount | $	$ 1,336,966	$ 15,810,766
Ordinary Administrative [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes | item	146	158
Proceedings amount | $	$ 1,867,591	$ 726,557
Labor [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes | item	788	674
Proceedings amount | $	$ 87,175	$ 57,136
Civil [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes | item	58	55
Proceedings amount | $	$ 13,148	$ 6,363
Penal [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes | item	1	2
Proceedings amount | $	$ 0	$ 595

Accrued liabilities and provi_7

Accrued liabilities and provisions - Details of contingent assets (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)item	Dec. 31, 2020COP ($)item
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes of contingent assets | item	512	568
Proceedings amount | $	$ 379,507	$ 696,108
Ordinary Administrative [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes of contingent assets | item	62	109
Proceedings amount | $	$ 217,550	$ 404,830
Arbitration [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes of contingent assets | item	1	2
Proceedings amount | $	$ 78,600	$ 138,386
Civil [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes of contingent assets | item	188	171
Proceedings amount | $	$ 23,258	$ 87,871
Penal [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes of contingent assets | item	72	149
Proceedings amount | $	$ 55,385	$ 61,466
Labor [Member]
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes of contingent assets | item	185	132
Proceedings amount | $	$ 4,714	$ 3,555
Constitutional
Disclosure of accrued liabilities and provisions [Line Items]
Number of processes of contingent assets | item	4	5
Proceedings amount | $	$ 0	$ 0

Equity - Ecopetrol Business Gro

Equity - Ecopetrol Business Groups reserves (Details) - COP ($) $ in Millions	Dec. 31, 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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of changes in equity [Line Items]
Opening balance	$ 53,499,363	$ 58,231,628
Closing balance	90,583,772	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	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of changes in equity [Line Items]
Sale of joint ventures	$ 361,728	$ 0	$ 0
Other comprehensive income
Disclosure of changes in equity [Line Items]
Foreign currency translation	17,244,686	11,794,201	10,265,398
Cash flow hedge with derivative instruments	(60,916)	44,132	3,689
Cash flow hedges for future exports	(945,247)	(136,470)	(135,748)
Actuarial gain on defined benefit plans	(517,278)	(2,260,989)	(2,357,210)
Hedge of a net investment in a foreign operation	(4,364,465)	(1,494,926)	(1,130,583)
Others	1,114	1,114	1,114
Other comprehensive income attributable to owners of parent	11,357,894	$ 7,947,062	$ 6,646,660
Other comprehensive income | Offshore International Group
Disclosure of changes in equity [Line Items]
Sale of joint ventures	$ (361,728)

Equity - Additional information

Equity - Additional information (Details) - COP ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2011
Disclosure of changes in equity [Line Items]
Capital commitments	$ 36,540,000	$ 36,540,000
Number of shares authorised	60,000,000,000	60,000,000,000
Number of shares subscribed	41,116,694,690	41,116,694,690
Proportion of shares available for public trade	11.51%	11.51%
Number of shares available for public trade	4,731,906,273	4,731,906,273
Proportion of shares held by majority share holders	88.49%	88.49%
Number of shares held by majority share holders	36,384,788,417	36,384,788,417
Capital reserve	$ 11,499,933	$ 11,499,933
Number of shares reserved for issue under options and contracts for sale of shares	18,883,305,310	18,883,305,310
Subscribed and Paid-In-Capital	$ 25,040,067	$ 25,040,067	$ 25,040,067
Additional Paid in Capital	6,607,699	6,607,699	6,607,699
Additional paid-in capital receivable	143	143
Subscribed and paid-in capital	25,040,067	25,040,067	25,040,067
Dividends paid	2,771,287	2,771,287	8,734,351	$ 13,867,029
Dividends approved for distribution		$ 698,984	$ 7,401,005	$ 9,251,256
Dividends approved for distribution, per share		$ 243
Percentage of shareholders for dividend payment		100.00%
Dividends paid to non-controlling interests, classified as financing activities		$ 2,074,900
Dividends paid to equity holders of parent, classified as financing activities		696,387
Share-based payment arrangements [member]
Disclosure of changes in equity [Line Items]
Additional Paid in Capital					$ 2,118,468
Share-based payment arrangements [member] | Colombian Peso [Member]
Disclosure of changes in equity [Line Items]
Additional Paid in Capital	4,457,997	4,457,997
Financial guarantee contracts [member]
Disclosure of changes in equity [Line Items]
Additional Paid in Capital	$ 31,377	$ 31,377

Equity - Earnings per share (De

Equity - Earnings per share (Details) - COP ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity
Profit attributable to Ecopetrol's shareholders	$ 15,649,143	$ 1,586,677	$ 13,744,011
Weighted average number of outstanding shares	41,116,694,690	41,116,694,690	41,116,694,690
Basic earnings per share	$ 380.60	$ 38.59	$ 334.27
Diluted earnings per share	$ 380.60	$ 38.59	$ 334.27

Revenue from contracts with c_3

Revenue from contracts with customers - National and foreign sales (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about sales revenue [Line Items]
Revenue	$ 91,881,204	$ 50,223,393	$ 71,488,512
Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	44,822,210	24,687,715	34,305,108
Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	47,058,994	25,535,678	37,183,404
Mid-distillates [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	17,140,327	8,860,588	15,041,883
Gasoline and turbo fuels [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	15,475,370	6,768,046	9,658,180
Gasoline and turbo fuels [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods		179,257	1,085,392
Natural Gas [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	3,200,069	2,845,155	2,256,123
Natural Gas [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	71,529	17,231	27,255
Services [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	3,065,988	2,859,559	4,115,626
Plastic and rubber [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	1,642,035	865,204	834,133
Plastic and rubber [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	2,092,379	1,302,131	1,249,189
L.P.G. and propane [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	926,231	375,775	372,916
L.P.G. and propane [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	116,960	18,943	13,591
Fuel gas services[Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	734,666	671,570	72,249
Electric power transmission services [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	728,467
Electric power transmission services [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	1,827,622
Asphalts [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	611,051	526,100	544,200
Polyethylene [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	320,466	138,035	192,436
Aromatics | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	247,387	155,740	228,552
Crude oil [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	193,476	230,520	356,857
Crude oil [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	34,868,421	20,086,173	28,521,993
Roads and Construction Services [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	107,179
Roads and Construction Services [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	1,241,144
Fuel oil [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	23,799	37,001	97,907
Fuel oil [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	2,288,977	1,044,811	1,870,929
Other income gas contracts [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	2,879	32,190	102,845
Other products [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	402,828	322,232	431,201
Other products [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	1,033,909	580,411	408,427
Cash flow hedges [Member] | Domestic sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	(8)
Cash flow hedges [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	(349,884)	(857,347)	(385,170)
Diesel [Member] | Foreign sales [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue from sale of goods	$ 3,867,937	$ 3,164,068	$ 4,391,798

Revenue from contracts with c_4

Revenue from contracts with customers - Additional information (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)	Dec. 31, 2020COP ($)	Dec. 31, 2019COP ($)	Dec. 31, 2021USD ($)	Nov. 26, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of detailed information about sales revenue [Line Items]
Recognition of price differential	$ 11,335,453	$ 142,723	$ 1,785,277
Hedges with derivative instruments	$ 8,208	$ 7,475			$ 330	$ 7,475
Percentage of entitys revenue	100.00%	100.00%	100.00%
Percentage of progress obtained for functional unit 3	97.24%
Percentage of progress obtained for functional unit 6	99.94%
Percentage of consolidated progress obtained for functional unit	99.91%
Fuel oil [Member]
Disclosure of detailed information about sales revenue [Line Items]
Hedges with derivative instruments				$ 7		(76,382)	$ 0
Crude Oil [Member]
Disclosure of detailed information about sales revenue [Line Items]
Hedges with derivative instruments				(99,913)		(587,591)	1,603
Cash flow hedges [Member]
Disclosure of detailed information about sales revenue [Line Items]
Hedges with derivative instruments				(249,978)		(193,374)	(386,773)
Mid-distillates [Member]
Disclosure of detailed information about sales revenue [Line Items]
Hedges with derivative instruments				(8)		0	0
Crude and Fuel Oil [Member]
Disclosure of detailed information about sales revenue [Line Items]
Hedges with derivative instruments				$ (99,914)		$ (663,973)	$ 1,603
Terpel [Member]
Disclosure of detailed information about sales revenue [Line Items]
Percentage of entitys revenue	11.00%	15.00%	16.00%
Others [Member]
Disclosure of detailed information about sales revenue [Line Items]
Percentage of entitys revenue	10.00%

Revenue from contracts with c_5

Revenue from contracts with customers - Sales by geographic area (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about sales revenue [Line Items]
Revenue	$ 91,881,204	$ 50,223,393	$ 71,488,512
Percentage of entitys revenue	100.00%	100.00%	100.00%
Colombia Country [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue	$ 44,822,210	$ 24,687,715	$ 34,305,108
Percentage of entitys revenue	48.80%	49.20%	48.00%
United States Of America Country [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue	$ 16,025,083	$ 11,365,218	$ 17,371,173
Percentage of entitys revenue	17.40%	22.60%	24.30%
Asia continent [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue	$ 20,355,063	$ 9,497,498	$ 13,529,151
Percentage of entitys revenue	22.20%	18.90%	18.90%
Central America And Caribbean [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue	$ 3,503,618	$ 2,581,644	$ 3,472,665
Percentage of entitys revenue	3.80%	5.10%	4.90%
South America And Others [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue	$ 5,727,355	$ 1,296,370	$ 1,502,815
Percentage of entitys revenue	6.20%	2.60%	2.10%
Europe continent [Member]
Disclosure of detailed information about sales revenue [Line Items]
Revenue	$ 1,447,875	$ 794,948	$ 1,307,600
Percentage of entitys revenue	1.60%	1.60%	1.80%

Cost of sales - before impairme

Cost of sales - before impairment of non-current assets (Details) - COP ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about cost of sales [line Items]
Total Variable Costs		$ 41,005,910	$ 25,909,931	$ 32,699,443
Total Fixed Costs		14,575,866	11,657,541	12,272,917
Cost of sales		55,581,776	37,567,472	44,972,360
Varible Costs [Member]
Disclosure of detailed information about cost of sales [line Items]
Depreciation, amortization and depletion		6,328,144	6,069,903	5,523,306
Imported products	[1]	16,944,375	7,592,489	12,639,710
Purchases of crude in association and concession		10,015,898	4,281,661	5,466,496
Purchases of hydrocarbons - ANH	[2]	5,611,153	2,798,432	5,437,177
Hydrocarbon transport services		917,552	874,632	821,654
Electric energy		1,087,269	1,098,621	829,543
Processing materials		906,500	827,464	1,016,617
Purchases of other products and gas		811,024	598,015	584,507
Services contracted in associations		267,934	269,637	267,778
Others	[3]	(3,009,700)	657,634	(676,269)
Taxes and economic rights		1,125,761	841,443	788,924
Fixed Costs. [Member]
Disclosure of detailed information about cost of sales [line Items]
Hydrocarbon transport services		57,855	253,752	268,572
Services contracted in associations		1,286,291	1,121,010	1,211,510
Depreciation and amortization		3,270,735	2,930,120	2,781,446
Labor costs		2,596,947	2,299,761	2,316,567
Maintenance		2,637,857	2,257,370	2,497,002
Contracted services		2,756,000	1,623,375	1,841,009
Taxes and contributions		1,060,123	593,041	516,933
Materials and operating supplies		561,182	508,037	574,678
General costs	[4]	$ 348,876	$ 71,075	$ 265,200
[1]	Imported products correspond mainly to gasolines, naphtha, and diluent to facilitate the transport of heavy crude oil.
[2]	Corresponds to purchases of crude oil by Ecopetrol from the National Hydrocarbons Agency (ANH, by its acronym in Spanish) derived from national production.
[3]	Corresponds to: i) result of the process of use and valuation of core inventories, ii) measurement at net realizable value and iii) other capitalizable charges to projects. The variation corresponds to the recovery of international indicators that affects the valuation, and higher volumes.
[4]	Includes the transfers to operating expenses of the costs related to Refinería de Barranca units without production due to the decrease in loading capacity due to the health emergency caused by COVID-19

Administrative, operation and_2

Administrative, operation and project expenses (Details) $ in Millions, $ in Millions		12 Months Ended
		Dec. 31, 2021COP ($)item	Dec. 31, 2021USD ($)item	Dec. 31, 2020COP ($)item	Dec. 31, 2020USD ($)item	Dec. 31, 2019COP ($)	Dec. 31, 2019USD ($)
Disclosure of detailed information about general and administration expense [Line Items]
Exploration costs	[1]	$ 960,247		$ 689,204		$ 763,562
Administrative expenses		3,342,069		3,373,150		2,151,599
Right-of-use assets amortization			$ (28,441)		$ (10,814)		$ (14,532)
Operations and project expenses		$ 3,153,557		$ 2,586,016		2,631,754
Number of new voluntary retirement plan | item		94	94	421	421
Administrative expenses [Member]
Disclosure of detailed information about general and administration expense [Line Items]
General expenses		$ 1,638,129		$ 1,424,348		1,140,975
Labor expenses		1,264,319		1,658,613		759,324
Depreciation and amortization		386,732		229,792		202,547
Taxes		52,889		60,397		48,753
Operations and project expenses [Member]
Disclosure of detailed information about general and administration expense [Line Items]
Labor expenses		312,791		309,972		402,531
Depreciation and amortization		174,311		94,723		75,484
Taxes		515,848		428,608		483,330
Exploration costs		959,562		689,087		763,452
Commissions, fees, freights and services		686,156		656,432		558,370
Maintenance		156,412		78,181		56,333
Fee for regulatory entities		139,158		142,695		94,785
Others		$ 209,319		$ 186,318		$ 197,469
[1]	Exploration expenses include the costs of geological and geophysical activities, as well as the non–productive exploratory wells.

Other operating (expenses) in_3

Other operating (expenses) income (Details) - COP ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other operating (expenses) income
Expense for legal provisions	[1]	$ (650,926)	$ (139,978)	$ (98,020)
Loss on sale of assets		(123,342)	(263,647)	(148,021)
Impairment loss of short-term assets		(83,773)	(34,416)	(90,441)
Gain on revaluation of assets in Guajira association		0	1,284,372	0
Gain on acquisition of participations and interests		0	86,026	1,048,924
Gain on loss of control in subsidiaries		0	(65,695)	0
Other income		785,297	120,114	344,354
Other operating income (expenses),net		$ (72,744)	$ 1,118,166	$ 1,056,796
[1]	Results

Other operating (expenses) in_4

Other operating (expenses) income - Additional Information (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of associates [line items]
Adjustments for gain loss on Acquisition of investments in subsidiaries, joint ventures and associates	$ 0	$ 86,026	$ 1,048,924
Guajira Association Contract [Member]
Disclosure of associates [line items]
Percentage of interest acquired		43.00%
Hocol petroleum limited | Guajira Association Contract [Member]
Disclosure of associates [line items]
Adjustments for gain loss on Acquisition of investments in subsidiaries, joint ventures and associates		$ 86,026
Bioenergy S.A.S. and Bioenergy Zona Franca S.A.S
Disclosure of associates [line items]
Loss on disposal assets		65,570
Ecopetrol Germany Gmbh
Disclosure of associates [line items]
Loss on disposal assets		125
Ecopetrol Germany Gmbh | Guajira Association Contract [Member]
Disclosure of associates [line items]
Adjustments for gain loss on Acquisition of investments in subsidiaries, joint ventures and associates		$ 1,284,372

Financial result (Details)

Financial result (Details) - COP ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finance income
Results from financial assets		$ 108,640	$ 665,310	$ 975,245
Yields and interests		266,116	299,246	481,674
(Loss) gain on derivatives valuation		10,289	108,838	0
Dividends (1)	[1]	27	44	117,260
Other financial income		18,520	27,992	49,157
Finance income		403,592	1,101,430	1,623,336
Finance expenses
Interest (2)	[2]	(3,095,224)	(2,384,342)	(1,894,490)
Financial cost of other liabilities (3)	[3]	(1,043,728)	(872,987)	(757,509)
Results from financial assets		(101,973)	(473,598)	(638,767)
Other financial expenses		(190,723)	(198,864)	(43,703)
Finance costs		(4,431,648)	(3,929,791)	(3,334,469)
(Loss) gain from exchange difference		(31,726)	346,774	40,639
Gain from realization of other comprehensive income on sale of joint ventures (Note 13)		361,728	0	0
Foreign exchange (loss) gain		330,002	346,774	40,639
Financial result		$ (3,698,054)	$ (2,481,587)	$ (1,670,494)
[1]	In 2007, Arrendadora Financiera Internacional Bolivariana (AFIB) and Ecopetrol signed an agreement to constitute a trust fund, in which Invercolsa deposited dividends corresponding to 8.53 % of the participation in dispute, regarding the shares acquired by Fernando Londoño. In 2019, as a result of the sentence of the Supreme Court of Justice, Ecopetrol received the amount of dividends that were in that trust.
[2]	As of December 31, 2021, borrowing costs for the financing of developing natural resources and property, plant, and equipment of COP $255,707 (2020 – COP $247,501 and 2019 – $ 248,139 ) were capitalized.
[3]	Includes the financial expense of the asset retirement obligations and the liabilities for post–employment benefits

Financial result - Additional I

Financial result - Additional Information (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial result
Interest capitalized in natural resources and property, plant and equipment	$ 255,707	$ 247,501	$ 248,139
Dividends Percentage on Participation in Dispute	8.53%

Risk management - Financial ass

Risk management - Financial assets and liabilities (Details) $ in Millions, $ in Millions	Dec. 31, 2021COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019COP ($)	Dec. 31, 2018COP ($)
Balance of financial assets and liabilities denominated in foreign currency
Cash and cash equivalents	$ 14,549,906		$ 5,082,308		$ 7,075,758	$ 6,311,744
Other financial assets	$ 2,934,734		$ 3,071,659
USD$ Million
Balance of financial assets and liabilities denominated in foreign currency
Cash and cash equivalents		$ 388		$ 197
Other financial assets		408		1,164
Trade receivables and payables, net		423		203
Loans and borrowings		(15,514)		(11,814)
Other assets and liabilities, net		702		277
Net liability position		$ (13,593)		$ (9,973)

Risk management - Financial a_2

Risk management - Financial assets and liabilities denominated in foreign currency (Details) - Currency risk [member] $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)
Disclosure of detailed information about financial risk management [Line Items]
One Percent variations in exchange rate, Effect on income before income taxes	$ 16,432
One percent variations in exchange rate, effect on other comprehensive income	524,727
Five Percent variations in exchange rate, Effect on income before income taxes	82,161
Five Percent variations in exchange rate, effect on other comprehensive income	$ 2,623,635

Risk management - Non derivativ

Risk management - Non derivative hedging instrument (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021COP ($)	Dec. 31, 2020USD ($)
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument at the end of the period		$ 148,144
Cash flow hedging
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	675		1,230
Realization of exports	(675)		(1,230)
Designation of new coverage	3,672
Hedging instrument at the end of the period	$ 4,972		$ 1,300

Risk management - Cash flow hed

Risk management - Cash flow hedge for future exports - Movement in other comprehensive income (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Risk management
Opening balance	$ (136,470)	$ (135,748)	$ (374,079)
Exchange difference	(1,533,743)	(201,967)	(35,607)
Reclassification to profit or loss	249,978	193,374	386,773
Ineffectiveness	24,496	9,779	5,173
Deferred income tax	450,492	(1,908)	(118,008)
Closing balance	$ (945,247)	$ (136,470)	$ (135,748)

Risk management - Expected recl

Risk management - Expected reclassification of the cumulative exchange difference from other comprehensive income to profit or loss (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	$ (1,454,226)
Taxes	(508,979)
After taxes	(945,247)
2022
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	(1,426,676)
Taxes	(499,337)
After taxes	(927,339)
2023.
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	121,948
Taxes	42,682
After taxes	79,266
2024
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	(118,164)
Taxes	(41,357)
After taxes	(76,807)
2025
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	(73,332)
Taxes	(25,666)
After taxes	(47,666)
2026
Disclosure of detailed information about financial risk management [Line Items]
Before taxes	41,998
Taxes	14,699
After taxes	$ 27,299

Risk management - Hedge recogni

Risk management - Hedge recognised in other comprehensive income (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument at the end of the period	$ 148,144
Hedge of a net investment in a foreign operation
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument at the beginning of the period	1,494,926	$ 1,130,583	$ 1,069,316
Exchange difference	4,577,887	520,490	87,524
Deferred income tax	(1,708,348)	(156,147)	(26,257)
Hedging instrument at the end of the period	$ 4,364,465	$ 1,494,926	$ 1,130,583

Risk management - Schedule of D

Risk management - Schedule of Detailed Information About Hedging Instruments Explanatory (Details) $ in Millions, $ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2021COP ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2019USD ($)
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument		$ 148,144
Currency swap contract | Red De Energia Del Peru [Member]
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument		106,333
Currency swap contract | Intervial Chile [Member]
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument		30,769
Currency swap contract | Ruta del Maipo [Member]
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument		11,042
Forward contract
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument		$ 13,019
Cash flow hedging
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument	$ 4,972		$ 1,300		$ 1,300
Cash flow hedging | Forward contract
Disclosure of detailed information about financial risk management [Line Items]
Hedging instrument				$ 7,572

Risk management - Significant c

Risk management - Significant concentration of credit risk (Details) - Financial assets past due but not impaired [member] - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about financial risk management [Line Items]
Financial assets	$ 343,770	$ 359,272
Less than 3 months overdue [member]
Disclosure of detailed information about financial risk management [Line Items]
Financial assets	332,249	56,144
Between 3 and 6 months overdue [member]
Disclosure of detailed information about financial risk management [Line Items]
Financial assets	7,103	1,270
More than 6 months overdue [member]
Disclosure of detailed information about financial risk management [Line Items]
Financial assets	$ 4,418	$ 301,858

Risk management - Maturity of f

Risk management - Maturity of financial liabilities (Details) $ in Millions	Dec. 31, 2021COP ($)
Disclosure of detailed information about financial risk management [Line Items]
Loans (payment of principal and interest)	$ 108,823,232
Trade and other payables	13,646,322
Total	122,469,554
2022.
Disclosure of detailed information about financial risk management [Line Items]
Loans (payment of principal and interest)	5,808,268
Trade and other payables	13,568,231
Total	19,376,499
From 1 to 5 years [member]
Disclosure of detailed information about financial risk management [Line Items]
Loans (payment of principal and interest)	46,594,900
Trade and other payables	78,091
Total	46,672,991
2027 and thereafter.
Disclosure of detailed information about financial risk management [Line Items]
Loans (payment of principal and interest)	24,851,089
Trade and other payables	0
Total	24,851,089
More than 10 years [member]
Disclosure of detailed information about financial risk management [Line Items]
Loans (payment of principal and interest)	31,568,975
Trade and other payables	0
Total	$ 31,568,975

Risk management - Risk manageme

Risk management - Risk management - Sensitivity in income and other comprehensive income to variations in interest rate (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)
Increase in floating interest (+100 basis points)
Disclosure of detailed information about financial risk management [Line Items]
Financial assets (Financial expenses)	$ (22,082)
Financial liabilities (Financial income)	603,559
Plan assets (Other comprehensive income)	(499,144)
Decrease in floating interest (-100 basis points)
Disclosure of detailed information about financial risk management [Line Items]
Financial assets (Financial income)	22,082
Financial liabilities (Financial expenses)	(569,008)
Plan assets (Other comprehensive income)	$ 508,441

Risk management - Leverage rati

Risk management - Leverage ratio (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Risk management
Loans and borrowings (Note 17)	$ 95,060,928	$ 46,731,754
Cash and cash equivalents (Note 6)	(14,549,906)	(5,082,308)	$ (7,075,758)	$ (6,311,744)
Other financial assets (Note 9)	(2,934,734)	(3,071,659)
Net financial debt	77,576,288	38,577,787
Equity	$ 90,583,772	$ 53,499,363	$ 58,231,628	$ 57,107,780
Leverage (1)	46.13%	41.90%

Risk management - Additional In

Risk management - Additional Information (Details) $ in Millions, $ in Millions	Oct. 01, 2015USD ($)	Dec. 31, 2021USD ($)	Jun. 30, 2021USD ($)	Dec. 31, 2021COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2019COP ($)	Dec. 31, 2021USD ($)	Nov. 26, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018COP ($)
Disclosure of detailed information about financial risk management [Line Items]
Closing foreign exchange rate				3,981.16	3,981.16	3,432.50
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%
Amount in which the company expanded the hedge of a net investment in a foreign operation				$ 8,208		$ 7,475			$ 330	$ 7,475
Debt principal payments				11,267,540		5,003,885	$ 1,596,630
Net position of assets and liabilities different functional currency					$ 287
Hedging Instruments Foreign Currency Debt	$ 5,440
Net asset position				148,144
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										5,200
Open position forward non-delivery operations				$ 420
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								$ 13,306
Valuation recognized in profit or loss								126
USD$ Million
Disclosure of detailed information about financial risk management [Line Items]
Valuation recognized in profit or loss								13,180
Maximum percentage of cash investment held in portfolio, current				5.00%	5.00%
Forward contract
Disclosure of detailed information about financial risk management [Line Items]
Net asset position				$ 13,019
Hedge of a net investment in a foreign operation
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								8,315
Net asset position				4,364,465		1,494,926	$ 1,130,583					$ 1,069,316
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										1,229	$ 1,229
Debt principal payments		$ 107	$ 163		$ 270
Cash flow hedging
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								4,972
Net asset position								4,972		$ 1,300	$ 1,300
Cash flow hedging | Swap contract [member]
Disclosure of detailed information about financial risk management [Line Items]
Notional amount								$ 27.5
Hedge instrument, Liabilities				$ 34,395
Cash flow hedging | Forward contract
Disclosure of detailed information about financial risk management [Line Items]
Net asset position						$ 7,572
Floating interest rate
Disclosure of detailed information about financial risk management [Line Items]
Borrowings, interest rate linked to floating interest rates				25.70%		16.00%	17.00%	25.70%		16.00%	17.00%
Credit risk in Peso portfolio
Disclosure of detailed information about financial risk management [Line Items]
Maximum percentage of cash investment held in portfolio				10.00%	10.00%
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				15.98%	15.98%

Related parties (Details)

Related parties (Details) - COP ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020
Investments in joint ventures and associates [abstract]
Accounts receivable		$ 9,243	$ 7,748
Loans receivable		447	97,300
Other assets		1,386	7,093
Accounts payable		66,598	72,316
Loans	[1]	1,483,701	1,277,046
Other liabilities		233	1,664
Accounts receivable, Current		9,243	7,748
Accounts receivable, Non-current		0	0
Accounts receivable - Loans, Current		112	97,300
Accounts receivable - Loans, Non-current		335	0
Other assets, Current		1,386	7,093
Other assets, Non-current		0	0
Accounts payable, Current		66,598	72,316
Accounts payable, Non-current		0	0
Loans, Current		1,483,701	1,277,046
Loans, Non-current		0	0
Other liabilities, Current		233	1,664
Other liabilities, Non-current		0	0
Gas Natural del Oriente S.A. E.S.P.
Investments in joint ventures and associates [abstract]
Accounts receivable		0	0
Loans receivable		0	0
Other assets		0	0
Accounts payable		5,211	1,858
Loans		0	0
Other liabilities		0	0
Extrucol S.A.
Investments in joint ventures and associates [abstract]
Accounts receivable		0	0
Loans receivable		0	0
Other assets		0	0
Accounts payable		283	279
Loans		0	0
Other liabilities		0	0
E2 Energia Eficiente S.A. E.S.P.
Investments in joint ventures and associates [abstract]
Accounts receivable		6,797	4,453
Loans receivable		0	0
Other assets		0	0
Accounts payable		1,655	1,264
Loans		0	0
Other liabilities		0	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 Energy Limited
Investments in joint ventures and associates [abstract]
Accounts receivable		925	1,950
Loans receivable		0	0
Other assets		1,386	7,093
Accounts payable		12,997	32,335
Loans	[1]	1,483,701	1,277,046
Other liabilities		233	1,663
Ecodiesel Colombia S.A
Investments in joint ventures and associates [abstract]
Accounts receivable		1,521	1,345
Loans receivable		0	0
Other assets		0	0
Accounts payable		46,452	35,632
Loans		0	0
Other liabilities		0	1
Interligacao Eletrica Garanhuns S.A [Member]
Investments in joint ventures and associates [abstract]
Accounts receivable		0
Loans receivable		28
Other assets		0
Accounts payable		0
Loans		0
Other liabilities		0
Interligacao Eletrica Paraguacu S.A [Member]
Investments in joint ventures and associates [abstract]
Accounts receivable		0
Loans receivable		28
Other assets		0
Accounts payable		0
Loans		0
Other liabilities		0
Interligacao Eletrica Aimores S.A.
Investments in joint ventures and associates [abstract]
Accounts receivable		0
Loans receivable		28
Other assets		0
Accounts payable		0
Loans		0
Other liabilities		0
Interligacao Eletrica Ivai S.A.[Member]
Investments in joint ventures and associates [abstract]
Accounts receivable		0
Loans receivable		28
Other assets		0
Accounts payable		0
Loans		0
Other liabilities		0
Derivex S.A.
Investments in joint ventures and associates [abstract]
Accounts receivable		0
Loans receivable		335
Other assets		0
Accounts payable		0
Loans		0
Other liabilities		$ 0
Offshore International Group
Investments in joint ventures and associates [abstract]
Accounts receivable	[2]		0
Loans receivable	[2]		97,300
Other assets	[2]		0
Accounts payable	[2]		0
Loans	[2]		0
Other liabilities	[2]		$ 0
[1]	Resources deposited by Equion in Ecopetrol Capital AG.
[2]	Offshore International Group Inc. loan granted by Ecopetrol This company is no longer part of the business group. See note 13.

Related parties - Transactions

Related parties - Transactions with related parties (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	$ 109,980	$ 90,184	$ 329,241
Purchases And Other Assets, Related Party Transactions	627,924	733,225	849,754
Joint ventures
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	49,821	40,324	329,241
Purchases And Other Assets, Related Party Transactions	591,419	703,073	849,754
Associates
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	60,159	49,860	0
Purchases And Other Assets, Related Party Transactions	36,505	30,152	0
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	0
Purchases And Other Assets, Related Party Transactions	27,175	26,141	0
Extrucol S.A. | Associates
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	0	0	0
Purchases And Other Assets, Related Party Transactions	2,354	1,162	0
E2 Energia Eficiente S.A. E.S.P. | Associates
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	60,159	49,860	0
Purchases And Other Assets, Related Party Transactions	6,976	2,849	0
Equion Energy Limited | Joint ventures
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	13,996	27,595	317,382
Purchases And Other Assets, Related Party Transactions	149,046	356,872	569,105
Ecodiesel Colombia S.A | Joint ventures
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	35,825	8,268	8,614
Purchases And Other Assets, Related Party Transactions	442,373	346,201	280,649
Offshore International Group | Joint ventures
Disclosure of transactions between related parties [line items]
Sales And Services, Related Party Transactions	0	4,461	3,245
Purchases And Other Assets, Related Party Transactions	$ 0	$ 0	$ 0

Related parties - Directors and

Related parties - Directors and key management personnel (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Felipe Bayon
Disclosure of transactions between related parties [line items]
Key Management Personnel Shareholding Description	<1% outstanding shares
Jaime Caballero
Disclosure of transactions between related parties [line items]
Key Management Personnel Shareholding Description	<1% outstanding shares
Executive officers
Disclosure of transactions between related parties [line items]
Key management personnel compensation, post-employment benefits		$ 13,413	$ 18,740

Related parties - Additional In

Related parties - Additional Information (Details) - COP ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Loans and receivables		$ 447	$ 97,300
Cancellation of fees		3,757	3,102
Payment of key management personnel compensation		27,735	24,068	$ 22,632
Provisions for employee benefits		$ 11,379,045	12,423,667
Ownership Interest Held By Government		88.49%
Description of any retirement benefit plan termination terms		five years (2016-2021)
Offshore International Group
Disclosure of transactions between related parties [line items]
Loans and receivables	[1]		97,300
Equion Energy Limited
Disclosure of transactions between related parties [line items]
Loans and receivables		$ 0	$ 0
[1]	Offshore International Group Inc. loan granted by Ecopetrol This company is no longer part of the business group. See note 13.

Joint operations - Contracts in

Joint operations - Contracts in which Ecopetrol is not the operator (Details) - Contract where entity not operator	12 Months Ended
	Dec. 31, 2021
Chipiron Contract [Member] | Bottom of range
Disclosure of joint operations [line items]
% Participation	30.00%
Chipiron Contract [Member] | SierraCol Energy Arauca, LLC [Member]
Disclosure of joint operations [line items]
Contract	Chipirón
Type	Production
Geographic area of operations	Colombia
Chipiron Contract [Member] | SierraCol Energy Arauca, LLC [Member] | Top of range
Disclosure of joint operations [line items]
% Participation	41.00%
Cosecha Contract [Member] | SierraCol Energy Arauca, LLC [Member]
Disclosure of joint operations [line items]
Contract	Cosecha
Type	Production
% Participation	30.00%
Geographic area of operations	Colombia
Cravo norte Contract [Member] | SierraCol Energy Arauca, LLC [Member]
Disclosure of joint operations [line items]
Contract	Cravo Norte
Type	Production
% Participation	55.00%
Geographic area of operations	Colombia
Rondon Contract [Member] | SierraCol Energy Arauca, LLC [Member]
Disclosure of joint operations [line items]
Contract	Rondón
Type	Production
% Participation	50.00%
Geographic area of operations	Colombia
Quifa Contract [Member] | Frontera Energy Colombia Corp [Member]
Disclosure of joint operations [line items]
Contract	Quifa
Type	Production
% Participation	40.00%
Geographic area of operations	Colombia
Casanare Contract One [Member] | Perenco Colombia Limited [Member]
Disclosure of joint operations [line items]
Contract	Casanare
% Participation	74.40%
Geographic area of operations	Colombia
Corocora Contract One [Member] | Perenco Colombia Limited [Member]
Disclosure of joint operations [line items]
Contract	Corocora
Type	Production
% Participation	83.91%
Geographic area of operations	Colombia
Estero Contract One [Member] | Perenco Colombia Limited [Member]
Disclosure of joint operations [line items]
Contract	Estero
Type	Production
% Participation	95.98%
Geographic area of operations	Colombia
Tayrona Contract [Member] | Petrobras [Member]
Disclosure of joint operations [line items]
Contract	Tayrona
Type	Exploration
% Participation	44.00%
Geographic area of operations	Offshore Caribe Norte
Fuerte Sur Contract [Member] | Shell EP Offshore Ventures Limited [Member]
Disclosure of joint operations [line items]
Contract	Fuerte Sur
Type	Exploration
% Participation	50.00%
Geographic area of operations	Offshore Caribe Norte
Purple Angel Contract [Member] | Shell EP Offshore Ventures Limited [Member]
Disclosure of joint operations [line items]
Contract	Purple Angel
Type	Exploration
% Participation	50.00%
Geographic area of operations	Offshore Caribe Norte
Col-5 Contract [Member] | Shell EP Offshore Ventures Limited [Member]
Disclosure of joint operations [line items]
Contract	Col-5
Type	Exploration
% Participation	50.00%
Geographic area of operations	Offshore Caribe Norte
Rancho Hermoso [Member] | Canacol [Member]
Disclosure of joint operations [line items]
Contract	Rancho Hermoso
Type	Production
% Participation	70.00%
Geographic area of operations	Colombia
Sul de Gato do Mato Contract [Member] | Shell [Member]
Disclosure of joint operations [line items]
Contract	Sul de Gato do Mato
Type	Exploration
% Participation	30.00%
Geographic area of operations	Brazil
Gato do Mato Contract [Member] | Shell [Member]
Disclosure of joint operations [line items]
Contract	Gato do Mato
Type	Exploration
% Participation	30.00%
Geographic area of operations	Brazil
Rydberg [Member] | Shell Offshore LLC [Member]
Disclosure of joint operations [line items]
Contract	Rydberg
Type	Exploration
% Participation	29.00%
Geographic area of operations	Golfo de México
Gunflint Contract [Member] | Quarter North Energy [Member]
Disclosure of joint operations [line items]
Contract	Gunflint
Type	Production
% Participation	32.00%
Geographic area of operations	Golfo de México
Dalmatian Contract [Member] | Murphy Exploration and Production Company - USA [Member]
Disclosure of joint operations [line items]
Contract	Dalmatian
Type	Production
% Participation	30.00%
Geographic area of operations	Golfo de México
K2 Contract [Member] | OXY (Anadarko) [Member]
Disclosure of joint operations [line items]
Contract	K2
Type	Production
% Participation	21.00%
Geographic area of operations	Golfo de México
ESOX Contract [Member] | Hess Corporation [Member]
Disclosure of joint operations [line items]
Contract	ESOX
Type	Production
% Participation	21.00%
Geographic area of operations	Golfo de México
Bloque 8 Contract [Member] | PEMEX Exploracion Y Produccion [Member]
Disclosure of joint operations [line items]
Contract	Bloque 8
Type	Exploration
% Participation	50.00%
Geographic area of operations	Golfo de México
Bloque 6 Contract [Member] | PC Carigali Mexico Operations SA [Member]
Disclosure of joint operations [line items]
Contract	Bloque 6
Type	Exploration
% Participation	50.00%
Geographic area of operations	Gulf of Mexico
Rodeo Midland Basin Contract [Member] | Occidental Midland Basin, LLC [Member]
Disclosure of joint operations [line items]
Contract	Rodeo Midland Basin
Type	Production
% Participation	49.00%
Geographic area of operations	Midland, Texas, USA
Saturno Contract [Member] | Shell [Member]
Disclosure of joint operations [line items]
Contract	Saturno
Type	Exploration
% Participation	10.00%
Geographic area of operations	Brazil
SSJN1 Contract [Member] | Lewis [Member]
Disclosure of joint operations [line items]
Contract	SSJN1
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
Mana Contract [Member] | Interoil Colombia [Member]
Disclosure of joint operations [line items]
Contract	Mana
Type	Production
% Participation	30.00%
Geographic area of operations	Colombia
Ambrosia Contract [Member] | Interoil Colombia [Member]
Disclosure of joint operations [line items]
Contract	Ambrosia
Type	Production
% Participation	30.00%
Geographic area of operations	Colombia
Rio Opia Contract [Member] | Interoil Colombia [Member]
Disclosure of joint operations [line items]
Contract	Rio Opia
Type	Production
% Participation	30.00%
Geographic area of operations	Colombia
Llanos 86 Contract [Member] | Geopark [Member]
Disclosure of joint operations [line items]
Contract	Llanos 86
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
Llanos 87 Contract [Member] | Geopark [Member]
Disclosure of joint operations [line items]
Contract	Llanos 87
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
Llanos 104 Contract [Member] | Geopark [Member]
Disclosure of joint operations [line items]
Contract	Llanos 104
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
Llanos 123 Contract [Member] | Geopark [Member]
Disclosure of joint operations [line items]
Contract	Llanos 123
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
Llanos 124 Contract [Member] | Geopark [Member]
Disclosure of joint operations [line items]
Contract	Llanos 124
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
Ronda Caribe RC-10 Contract [Member] | ONGC Videsh Limited Sucursal Colombiana [Member]
Disclosure of joint operations [line items]
Contract	Ronda Caribe RC-10
Type	Exploration
% Participation	50.00%
Geographic area of operations	Offshore Caribe Norte
Pau Brasil [Member] | BP Energy [Member]
Disclosure of joint operations [line items]
Contract	Pau Brasil
Type	Exploration
% Participation	20.00%
Geographic area of operations	Brazil
Nuevas Formaciones Contract [Member] | Canacol [Member]
Disclosure of joint operations [line items]
Contract	Nuevas Formaciones
Type	Production
% Participation	70.00%
Geographic area of operations	Colombia
Garcero Contract [Member] | Perenco Colombia Limited [Member]
Disclosure of joint operations [line items]
Contract	Garcero
Type	Production
% Participation	91.22%
Geographic area of operations	Colombia
Orocue Contract [Member] | Perenco Colombia Limited [Member]
Disclosure of joint operations [line items]
Contract	Orocúe
Type	Production
% Participation	86.47%
Geographic area of operations	Colombia

Joint operations - Contracts _2

Joint operations - Contracts in which Ecopetrol is the operator (Details)	12 Months Ended
	Dec. 31, 2021
VMM29 Contract [Member] | ExxonMobil Exploration Colombia [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	VMM29
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
CR2 Contract [Member] | ExxonMobil Exploration Colombia [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	CR2
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
C62 Contract [Member] | ExxonMobil Exploration Colombia [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	C62
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
VMM37 [Member] | ExxonMobil Exploration Colombia [Member]
Disclosure of joint operations [line items]
Contract	VMM37
Type	Exploration
% Participation	100.00%
Geographic area of operations	Colombia
Kale [Member] | ExxonMobil Exploration Colombia [Member]
Disclosure of joint operations [line items]
Contract	KALE
Type	Exploration
% Participation	0.00%
Geographic area of operations	Colombia
CPO9 Contract [Member] | Repsol Colombia Oil & Gas limited [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	CPO9
Type	Exploration
% Participation	55.00%
Geographic area of operations	Colombia
RC9 Contract [Member] | ONGC Videsh Limited Sucursal Colombiana [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	RC9
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
VMM32 Contract [Member] | CPVEN E&P Corp Sucursal Colombia [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	VMM32
Type	Exploration
% Participation	51.00%
Geographic area of operations	Colombia
CR4 Contract [Member] | Shell Exploracion and Produccion [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	CR4
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
San Jacinto Contract [Member] | SK Innovation Co Ltd. [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	San Jacinto
Type	Exploration
% Participation	70.00%
Geographic area of operations	Colombia
Catleya Contract [Member] | Repsol Exploracion Colombia S.A. [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Catleya
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
Cardon Contract [Member] | Emerald Energy PLC Suc. Colombia [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Cardon
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
CPO9 - Akacias Contract [Member] | Repsol Colombia Oil & Gas limited [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	CPO9 – Akacias
Type	Production
% Participation	55.00%
Geographic area of operations	Colombia
ORC401 CRC-2004-01 Contract [Member] | Parex Resources Colombia Ltd. [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	ORC401 CRC-2004-01
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
La Cira Infantas [Member] | SierraCol Energy Arauca, LLC [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	La Cira Infantas
Type	Production
% Participation	58.00%
Geographic area of operations	Colombia
Teca Contract [Member] | SierraCol Energy Arauca, LLC [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Teca
Type	Production
% Participation	86.00%
Geographic area of operations	Colombia
San Jacinto Rio Paez Contract [Member] | Perenco Oil And Gas [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	San Jacinto Rio Paez
Type	Production
% Participation	68.00%
Geographic area of operations	Colombia
San Jacinto Rio Paez Contract [Member] | Cepsa Colombia [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	San Jacinto Rio Paez
Type	Production
% Participation	68.00%
Geographic area of operations	Colombia
Mundo Nuevo Contract [Member] | Repsol Exploracion Colombia S.A. [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Mundo Nuevo
Type	Exploration
% Participation	15.00%
Geographic area of operations	Colombia
Mundo Nuevo Contract [Member] | Total Colombie [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Mundo Nuevo
Type	Exploration
% Participation	15.00%
Geographic area of operations	Colombia
Clarinero Contract [Member] | Lewis [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Clarinero
Type	Exploration
% Participation	50.00%
Geographic area of operations	Colombia
Alto Magdalena Pipeline Contract [Member] | Emerald Energy [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Oleoducto Alto Magdalena
Type	OAM
% Participation	45.00%
Geographic area of operations	Colombia
Alto Magdalena Pipeline Contract [Member] | Equion Energia Limited [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Oleoducto Alto Magdalena
Type	OAM
% Participation	45.00%
Geographic area of operations	Colombia
Alto Magdalena Pipeline Contract [Member] | Frontera Energy [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Oleoducto Alto Magdalena
Type	OAM
% Participation	45.00%
Geographic area of operations	Colombia
Niscota Contract [Member] | Total Colombie [Member] | Contract where Entity is operator
Disclosure of joint operations [line items]
Contract	Niscota
Type	Production
% Participation	20.00%
Geographic area of operations	Colombia

Joint operations - Additional I

Joint operations - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Disclosure of joint operations [line items]
Exploration commitment	$ 562.9
Tayrona Contract [Member]
Disclosure of joint operations [line items]
Exploration commitment	73
Llanos Contract [Member]
Disclosure of joint operations [line items]
Exploration commitment	$ 61.6

Information by segments (Detail

Information by segments (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [line items]
Revenue	$ 91,881,204	$ 50,223,393	$ 71,488,512
Cost of sales	(55,581,776)	(37,567,472)	(44,972,360)
Gross profit	36,299,428	12,655,921	26,516,152
Administration expenses	(3,342,069)	(3,373,150)	(2,151,599)
Operation and projects expenses	(3,153,557)	(2,586,016)	(2,631,754)
Impairment of non-current assets	(33,351)	(633,156)	(1,762,437)
Other operating income and expenses net	(72,744)	1,118,166	1,056,796
Operating income	29,697,707	7,181,765	21,027,158
Financial result net
Financial income	403,592	1,101,430	1,623,336
Finance expenses	(4,431,648)	(3,929,791)	(3,334,469)
Foreign exchange gain (loss) net	330,002	346,774	40,639
Financial result, net	(3,698,054)	(2,481,587)	(1,670,494)
Share of profits of associates and joint ventures	426,164	76,336	366,904
Income before tax	26,425,817	4,776,514	19,723,568
Income tax	(8,795,263)	(2,038,661)	(4,718,413)
Net profit (loss) for the period	17,630,554	2,737,853	15,005,155
Net profit attributable to:
Group owners of parent	15,649,143	1,586,677	13,744,011
Non-controlling interest	1,981,411	1,151,176	1,261,144
Net income	17,630,554	2,737,853	15,005,155
Supplementary information
Depreciation, depletion and amortization	10,159,922	9,324,538	8,582,783
Fixed Costs.
Disclosure of operating segments [line items]
Cost of sales	(14,575,866)	(11,657,541)	(12,272,917)
Variable Costs
Disclosure of operating segments [line items]
Cost of sales	(41,005,910)	(25,909,931)	(32,699,443)
Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	91,881,204	50,223,393	71,488,512
Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	0	0	0
Operating segments [member] | Exploration and Production [Member]
Disclosure of operating segments [line items]
Revenue	63,248,952	36,839,997	52,667,990
Cost of sales	(40,335,132)	(32,908,419)	(36,373,865)
Gross profit	22,913,820	3,931,578	16,294,125
Administration expenses	(1,987,817)	(2,163,198)	(1,284,560)
Operation and projects expenses	(1,882,686)	(1,511,510)	(1,475,710)
Impairment of non-current assets	438,020	(192,693)	(1,982,044)
Other operating income and expenses net	(617,893)	1,085,114	49,673
Operating income	18,863,444	1,149,291	11,601,484
Financial result net
Financial income	517,629	1,177,712	1,440,440
Finance expenses	(2,410,906)	(2,896,060)	(2,311,133)
Foreign exchange gain (loss) net	(219,747)	360,409	287,286
Financial result, net	(2,113,024)	(1,357,939)	(583,407)
Share of profits of associates and joint ventures	9,610	(53,037)	227,401
Income before tax	16,760,030	(261,685)	11,245,478
Income tax	(5,019,540)	43,569	(1,925,798)
Net profit (loss) for the period	11,740,490	(218,116)	9,319,680
Net profit attributable to:
Group owners of parent	11,829,119	(139,279)	9,382,129
Non-controlling interest	(88,629)	(78,837)	(62,449)
Net income	11,740,490	(218,116)	9,319,680
Supplementary information
Depreciation, depletion and amortization	6,844,910	6,445,812	5,892,822
Operating segments [member] | Exploration and Production [Member] | Fixed Costs.
Disclosure of operating segments [line items]
Cost of sales	(9,861,987)	(9,479,317)	(9,587,961)
Operating segments [member] | Exploration and Production [Member] | Variable Costs
Disclosure of operating segments [line items]
Cost of sales	(30,473,145)	(23,429,102)	(26,785,904)
Operating segments [member] | Exploration and Production [Member] | Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	38,552,572	22,854,925	31,295,118
Operating segments [member] | Exploration and Production [Member] | Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	24,696,380	13,985,072	21,372,872
Operating segments [member] | Refining and petrochemicals [Member]
Disclosure of operating segments [line items]
Revenue	50,976,385	26,104,351	38,770,806
Cost of sales	(48,535,388)	(25,825,555)	(37,856,219)
Gross profit	2,440,997	278,796	914,587
Administration expenses	(784,214)	(936,175)	(496,155)
Operation and projects expenses	(944,616)	(781,309)	(743,378)
Impairment of non-current assets	(305,466)	(781,528)	452,163
Other operating income and expenses net	10,749	34,705	1,014,988
Operating income	417,450	(2,185,511)	1,142,205
Financial result net
Financial income	24,313	67,832	229,297
Finance expenses	(1,151,255)	(914,534)	(996,790)
Foreign exchange gain (loss) net	(132,734)	(447,880)	(179,936)
Financial result, net	(1,259,676)	(1,294,582)	(947,429)
Share of profits of associates and joint ventures	200,998	131,462	17,091
Income before tax	(641,228)	(3,348,631)	211,867
Income tax	(383,562)	614,269	(83,504)
Net profit (loss) for the period	(1,024,790)	(2,734,362)	128,363
Net profit attributable to:
Group owners of parent	(1,198,619)	(2,848,511)	117,708
Non-controlling interest	173,829	114,149	10,655
Net income	(1,024,790)	(2,734,362)	128,363
Supplementary information
Depreciation, depletion and amortization	1,640,940	1,599,780	1,398,948
Operating segments [member] | Refining and petrochemicals [Member] | Fixed Costs.
Disclosure of operating segments [line items]
Cost of sales	(3,674,460)	(3,427,211)	(3,523,948)
Operating segments [member] | Refining and petrochemicals [Member] | Variable Costs
Disclosure of operating segments [line items]
Cost of sales	(44,860,928)	(22,398,344)	(34,332,271)
Operating segments [member] | Refining and petrochemicals [Member] | Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	46,658,196	24,804,887	36,393,470
Operating segments [member] | Refining and petrochemicals [Member] | Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	4,318,189	1,299,464	2,377,336
Operating segments [member] | Transport and logistics [Member]
Disclosure of operating segments [line items]
Revenue	12,158,466	12,194,440	13,070,736
Cost of sales	(3,260,309)	(3,381,357)	(3,738,194)
Gross profit	8,898,157	8,813,083	9,332,542
Administration expenses	(457,217)	(533,594)	(372,942)
Operation and projects expenses	(404,264)	(403,657)	(434,904)
Impairment of non-current assets	(165,901)	341,065	(232,556)
Other operating income and expenses net	591,829	1,827	74,607
Operating income	8,462,604	8,218,724	8,366,747
Financial result net
Financial income	76,453	125,677	273,613
Finance expenses	(250,816)	(389,394)	(306,878)
Foreign exchange gain (loss) net	381,964	434,245	(66,711)
Financial result, net	207,601	170,528	(99,976)
Share of profits of associates and joint ventures	858	(2,089)	138
Income before tax	8,671,063	8,387,163	8,266,909
Income tax	(2,925,390)	(2,696,499)	(2,709,111)
Net profit (loss) for the period	5,745,673	5,690,664	5,557,798
Net profit attributable to:
Group owners of parent	4,635,354	4,574,800	4,244,860
Non-controlling interest	1,110,319	1,115,864	1,312,938
Net income	5,745,673	5,690,664	5,557,798
Supplementary information
Depreciation, depletion and amortization	1,211,642	1,278,946	1,291,013
Operating segments [member] | Transport and logistics [Member] | Fixed Costs.
Disclosure of operating segments [line items]
Cost of sales	(2,728,948)	(2,813,856)	(3,039,452)
Operating segments [member] | Transport and logistics [Member] | Variable Costs
Disclosure of operating segments [line items]
Cost of sales	(531,361)	(567,501)	(698,742)
Operating segments [member] | Transport and logistics [Member] | Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	2,557,238	2,563,581	3,799,924
Operating segments [member] | Transport and logistics [Member] | Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	9,601,228	9,630,859	9,270,812
Operating segments [member] | Electric Power transmission and toll roads concessions [Member]
Disclosure of operating segments [line items]
Revenue	4,113,198
Cost of sales	(1,817,491)
Gross profit	2,295,707
Administration expenses	(322,939)
Operation and projects expenses	(460)
Impairment of non-current assets	(4)
Other operating income and expenses net	(51,267)
Operating income	1,921,037
Financial result net
Financial income	89,267
Finance expenses	(886,420)
Foreign exchange gain (loss) net	300,519
Financial result, net	(496,634)
Share of profits of associates and joint ventures	214,698
Income before tax	1,639,101
Income tax	(466,771)
Net profit (loss) for the period	1,172,330
Net profit attributable to:
Group owners of parent	386,438
Non-controlling interest	785,892
Net income	1,172,330
Supplementary information
Depreciation, depletion and amortization	462,430
Operating segments [member] | Electric Power transmission and toll roads concessions [Member] | Fixed Costs.
Disclosure of operating segments [line items]
Cost of sales	(1,817,491)
Operating segments [member] | Electric Power transmission and toll roads concessions [Member] | Variable Costs
Disclosure of operating segments [line items]
Cost of sales	0
Operating segments [member] | Electric Power transmission and toll roads concessions [Member] | Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	4,113,198
Operating segments [member] | Electric Power transmission and toll roads concessions [Member] | Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	0
Elimination of intersegment amounts [member]
Disclosure of operating segments [line items]
Revenue	(38,615,797)	(24,915,395)	(33,021,020)
Cost of sales	38,366,544	24,547,859	32,995,918
Gross profit	(249,253)	(367,536)	(25,102)
Administration expenses	210,118	259,817	2,058
Operation and projects expenses	78,469	110,460	22,238
Impairment of non-current assets	0	0	0
Other operating income and expenses net	(6,162)	(3,480)	(82,472)
Operating income	33,172	(739)	(83,278)
Financial result net
Financial income	(304,070)	(269,791)	(320,014)
Finance expenses	267,749	270,197	280,332
Foreign exchange gain (loss) net	0	0	0
Financial result, net	(36,321)	406	(39,682)
Share of profits of associates and joint ventures	0	0	122,274
Income before tax	(3,149)	(333)	(686)
Income tax	0	0	0
Net profit (loss) for the period	(3,149)	(333)	(686)
Net profit attributable to:
Group owners of parent	(3,149)	(333)	(686)
Non-controlling interest	0	0	0
Net income	(3,149)	(333)	(686)
Supplementary information
Depreciation, depletion and amortization	0	0	0
Elimination of intersegment amounts [member] | Fixed Costs.
Disclosure of operating segments [line items]
Cost of sales	3,507,020	4,062,843	3,878,444
Elimination of intersegment amounts [member] | Variable Costs
Disclosure of operating segments [line items]
Cost of sales	34,859,524	20,485,016	29,117,474
Elimination of intersegment amounts [member] | Third Party Sales [Member]
Disclosure of operating segments [line items]
Revenue	0	0	0
Elimination of intersegment amounts [member] | Inter-Segment Sales [Member]
Disclosure of operating segments [line items]
Revenue	$ (38,615,797)	$ (24,915,395)	$ (33,021,020)

Information by segments - Sales

Information by segments - Sales by product (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [line items]
Recognition of price differential	$ 11,335,453	$ 142,723	$ 1,785,277
Domestic sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	44,822,210	24,687,715	34,305,108
Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	17,140,327	8,860,588	15,041,883
Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	15,475,370	6,768,046	9,658,180
Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	3,200,069	2,845,155	2,256,123
Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	3,065,988	2,859,559	4,115,626
Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,642,035	865,204	834,133
Domestic sales [Member] | Asphalts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	611,051	526,100	544,200
Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	926,231	375,775	372,916
Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	320,466	138,035	192,436
Domestic sales [Member] | Aromatics
Disclosure of operating segments [line items]
Revenues from sale of goods	247,387	155,740	228,552
Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	23,799	37,001	97,907
Domestic sales [Member] | Other income gas contracts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,879	32,190	102,845
Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	402,828	322,232	431,201
Domestic sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	728,467
Domestic sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	107,179
Domestic sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(8)
Foreign sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	47,058,994	25,535,678	37,183,404
Foreign sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods		179,257	1,085,392
Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	71,529	17,231	27,255
Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,092,379	1,302,131	1,249,189
Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	116,960	18,943	13,591
Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	3,867,937	3,164,068	4,391,798
Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,288,977	1,044,811	1,870,929
Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,033,909	580,411	408,427
Foreign sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,827,622
Foreign sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,241,144
Foreign sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(349,884)	(857,347)	(385,170)
Operating segments [member]
Disclosure of operating segments [line items]
Total sales revenue	91,881,204	50,223,393	71,488,512
Operating segments [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	44,822,210	24,687,715	34,305,108
Operating segments [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	17,140,327	8,860,588	15,041,883
Operating segments [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	15,475,370	6,768,046	9,658,180
Operating segments [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	3,200,069	2,845,155	2,256,123
Operating segments [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	3,065,988	2,859,559	4,115,626
Operating segments [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	734,666	671,570	72,249
Operating segments [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,642,035	865,204	834,133
Operating segments [member] | Domestic sales [Member] | Asphalts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	611,051	526,100	544,200
Operating segments [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	926,231	375,775	372,916
Operating segments [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	193,476	230,520	356,857
Operating segments [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	320,466	138,035	192,436
Operating segments [member] | Domestic sales [Member] | Aromatics
Disclosure of operating segments [line items]
Revenues from sale of goods	247,387	155,740	228,552
Operating segments [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	23,799	37,001	97,907
Operating segments [member] | Domestic sales [Member] | Other income gas contracts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,879	32,190	102,845
Operating segments [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	402,828	322,232	431,201
Operating segments [member] | Domestic sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	728,467
Operating segments [member] | Domestic sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	107,179
Operating segments [member] | Domestic sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(8)
Operating segments [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	47,058,994	25,535,678	37,183,404
Operating segments [member] | Foreign sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods		179,257	1,085,392
Operating segments [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	71,529	17,231	27,255
Operating segments [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,092,379	1,302,131	1,249,189
Operating segments [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	116,960	18,943	13,591
Operating segments [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	34,868,421	20,086,173	28,521,993
Operating segments [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	3,867,937	3,164,068	4,391,798
Operating segments [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,288,977	1,044,811	1,870,929
Operating segments [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,033,909	580,411	408,427
Operating segments [member] | Foreign sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,827,622
Operating segments [member] | Foreign sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,241,144
Operating segments [member] | Foreign sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(349,884)	(857,347)	(385,170)
Elimination of intersegment amounts [member]
Disclosure of operating segments [line items]
Total sales revenue	(38,615,797)	(24,915,396)	(33,021,014)
Elimination of intersegment amounts [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(38,615,755)	(24,836,498)	(33,021,014)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(26,485)	(11,350)	(31,251)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(2,456,099)	(1,118,817)	(1,896,767)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(877,622)	(837,863)	(653,647)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(10,004,421)	(9,719,391)	(9,412,967)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(7,546)	(6,826)	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Asphalts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(24,529)	(7,283)	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(23,426,015)	(13,019,755)	(20,729,098)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Aromatics
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Other income gas contracts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(1,793,038)	(115,213)	(297,284)
Elimination of intersegment amounts [member] | Domestic sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Elimination of intersegment amounts [member] | Domestic sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Elimination of intersegment amounts [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(42)	(78,898)	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods		0	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	(79,345)	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(42)	(447)	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Elimination of intersegment amounts [member] | Foreign sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Exploration and Production [Member] | Operating segments [member]
Disclosure of operating segments [line items]
Total sales revenue	63,248,952	36,839,997	52,667,990
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	28,521,568	17,392,597	24,526,007
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	6,739	0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	4,077,691	3,683,018	2,909,770
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	132,060	116,485	196,527
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Asphalts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	25,178	27,043	24,690
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	618,218	249,533	179,541
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	23,619,491	13,250,275	21,085,955
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Aromatics
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	10,838	7,758	1,464
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Other income gas contracts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,879	32,190	102,845
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	35,213	19,556	25,215
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Exploration and Production [Member] | Operating segments [member] | Domestic sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	34,727,384	19,447,400	28,141,983
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods		0	0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	71,529	17,231	27,255
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	116,960	18,943	13,591
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	34,868,421	20,165,489	28,459,998
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	20,365	26,702	26,309
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Exploration and Production [Member] | Operating segments [member] | Foreign sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(349,891)	(780,965)	(385,170)
Refining and petrochemicals [Member] | Operating segments [member]
Disclosure of operating segments [line items]
Total sales revenue	50,976,385	26,104,352	38,770,805
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	41,801,490	19,937,232	29,729,439
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	17,166,812	8,871,938	15,073,134
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	17,931,469	7,880,124	11,554,947
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	659,088	268,081	261,390
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	742,212	678,396	72,249
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,642,035	865,204	834,133
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Asphalts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	585,873	499,057	519,510
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	332,542	133,525	193,375
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	320,466	138,035	192,436
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Aromatics
Disclosure of operating segments [line items]
Revenues from sale of goods	247,387	155,740	228,552
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	12,961	29,243	96,443
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Other income gas contracts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,160,653	417,889	703,270
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Refining and petrochemicals [Member] | Operating segments [member] | Domestic sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	(8)
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	9,174,895	6,167,120	9,041,366
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods		179,257	1,085,392
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,092,379	1,302,131	1,249,189
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	29	61,995
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	3,867,937	3,164,068	4,391,798
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	2,288,977	1,044,811	1,870,929
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	925,595	553,206	382,063
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Refining and petrochemicals [Member] | Operating segments [member] | Foreign sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	7	(76,382)	0
Transport and logistics [Member] | Operating segments [member]
Disclosure of operating segments [line items]
Total sales revenue	12,158,466	12,194,440	13,070,731
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	12,158,466	12,194,384	13,070,676
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	12,158,466	12,194,384	13,070,676
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Asphalts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Aromatics
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Other income gas contracts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Transport and logistics [Member] | Operating segments [member] | Domestic sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	56	55
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods		0	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	0	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	56	55
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Transport and logistics [Member] | Operating segments [member] | Foreign sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0	$ 0	$ 0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member]
Disclosure of operating segments [line items]
Total sales revenue	4,113,198
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	956,441
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Mid-distillates [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Gasoline and turbo fuels [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	120,795
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Fuel gas service [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Asphalts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Polyethylene [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Aromatics
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Other income gas contracts [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	728,467
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	107,179
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Domestic sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	3,156,757
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | Natural Gas [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | Plastic and rubber [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | L.P.G. and propane [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | Crude Oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | Diesel [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | Fuel oil [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	0
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | Other products [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	87,991
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | Electric power transmission services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,827,622
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | Roads and Construction Services [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	1,241,144
Electric Power transmission and toll roads concessions [Member] | Operating segments [member] | Foreign sales [Member] | Cash flow hedges [Member]
Disclosure of operating segments [line items]
Revenues from sale of goods	$ 0

Information by segments - Capit

Information by segments - Capital expenditures by segments (Details) - Operating segments [member] - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [line items]
Investment property	$ 13,294,962	$ 11,116,861	$ 13,979,141
Property, plant and equipments [Member]
Disclosure of operating segments [line items]
Investment property	6,117,588	5,032,317	4,012,659
Natural and environmental resources [Member]
Disclosure of operating segments [line items]
Investment property	6,733,028	5,994,462	9,798,193
Intangibles [Member]
Disclosure of operating segments [line items]
Investment property	444,346	90,082	168,289
Exploration and Production [Member]
Disclosure of operating segments [line items]
Investment property	9,472,637	8,902,064	11,975,162
Exploration and Production [Member] | Property, plant and equipments [Member]
Disclosure of operating segments [line items]
Investment property	2,633,119	2,866,600	2,151,194
Exploration and Production [Member] | Natural and environmental resources [Member]
Disclosure of operating segments [line items]
Investment property	6,733,028	5,994,462	9,798,193
Exploration and Production [Member] | Intangibles [Member]
Disclosure of operating segments [line items]
Investment property	106,490	41,002	25,775
Refining and petrochemicals [Member]
Disclosure of operating segments [line items]
Investment property	1,868,303	1,337,952	518,081
Refining and petrochemicals [Member] | Property, plant and equipments [Member]
Disclosure of operating segments [line items]
Investment property	1,845,618	1,329,181	497,512
Refining and petrochemicals [Member] | Natural and environmental resources [Member]
Disclosure of operating segments [line items]
Investment property	0	0	0
Refining and petrochemicals [Member] | Intangibles [Member]
Disclosure of operating segments [line items]
Investment property	22,685	8,771	20,569
Transport and logistics [Member]
Disclosure of operating segments [line items]
Investment property	1,391,890	876,845	1,485,898
Transport and logistics [Member] | Property, plant and equipments [Member]
Disclosure of operating segments [line items]
Investment property	1,344,654	836,536	1,363,953
Transport and logistics [Member] | Natural and environmental resources [Member]
Disclosure of operating segments [line items]
Investment property	0	0	0
Transport and logistics [Member] | Intangibles [Member]
Disclosure of operating segments [line items]
Investment property	47,236	$ 40,309	$ 121,945
Power Transmission And Road [Member]
Disclosure of operating segments [line items]
Investment property	562,132
Power Transmission And Road [Member] | Property, plant and equipments [Member]
Disclosure of operating segments [line items]
Investment property	294,197
Power Transmission And Road [Member] | Natural and environmental resources [Member]
Disclosure of operating segments [line items]
Investment property	0
Power Transmission And Road [Member] | Intangibles [Member]
Disclosure of operating segments [line items]
Investment property	$ 267,935

Supplemental information on o_3

Supplemental information on oil and gas producing activities - Capitalized costs relating to oil and gas exploration and production activities (Details) - COP ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental information on oil and gas producing activities (unaudited)
Natural and environmental properties	$ 79,385,151	$ 67,767,005	$ 60,261,025
Wells, equipment, and facilities - property, plant and equipment	31,730,001	31,166,804	30,150,268
Exploration and production projects	11,474,682	12,494,665	8,801,630
Accumulated depreciation, depletion, and amortization	(70,739,885)	(64,233,572)	(60,346,094)
Net capitalized cost	$ 51,849,949	$ 47,194,902	$ 38,866,829

Supplemental information on o_4

Supplemental information on oil and gas producing activities - Costs incurred in oil and gas exploration and developed activities (Details) - COP ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental information on oil and gas producing activities (unaudited)
Acquisition of proved properties	[1]	$ 0	$ 507,907	$ 2,668,960
Acquisition of unproved properties	[2]	0	1,274,660	261,231
Exploration costs		1,793,549	1,340,898	640,556
Development costs		11,264,075	7,367,020	8,084,283
Total costs incurred		$ 13,057,624	$ 10,490,485	$ 11,655,030
[1]	For 2020, it corresponds mainly to the acquisition of the entire participation in the Guajira Association ( 43% of the association contract) by Hocol and its position as operator. In July 2019, Ecopetrol and Occidental Petroleum Corp. (OXY) entered into a Joint Operation contract in order to execute a joint plan for the development of unconventional drilling in the Permian Basin in the state of Texas (USA).
[2]	During 2020, Ecopetrol through its subsidiary Ecopetrol Óleo e Gás do Brasil Ltda acquired 30% of the interests, rights and obligations in two areas that correspond to the BM-S-54 Concession Agrement and the Sul de Gato do Mato Shared Production Contract, located offshore in Santos basin of Brazil, in the discovery of hydrocarbons called "Gato do Mato". Additionally, Ecopetrol Óleo e Gás do Brasil Ltda has recognized the billing related to activities of drilling during the year. On July 17, 2020, the Ministry of Mines and Energy of Brazil authorized the transfer of 10% of the Saturn block for USD $85 million, located in the Santos basin, to Ecopetrol Óleo e Gás do Brasil, this percentage of which Shell Brasil Petróleo Ltda and Chevron Brasil Óleo e Gas Ltda. were equal holders. In the new shareholding structure, Ecopetrol retains 10% of the interests of the block, while Shell (operator) and Chevron each retain 45% of the total.

Supplemental information on o_5

Supplemental information on oil and gas producing activities - Results of operations for oil and gas exploration and production activities (Details) - COP ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net revenues
Sales		$ 50,631,272	$ 30,141,662	$ 42,070,018
Transfers		12,617,680	7,025,839	11,564,358
Total		63,248,952	37,167,501	53,634,376
Production costs	[1]	12,554,338	12,753,880	9,336,387
Depreciation, depletion and amortization	[2]	6,623,891	6,393,506	6,049,543
Other production costs	[3]	21,156,904	14,005,669	21,550,907
Exploration expenses	[4]	960,247	689,204	763,562
Other expenses	[5]	3,090,128	2,227,481	4,163,241
Total		44,385,508	36,069,740	41,863,640
Income before income tax expense		18,863,444	1,097,761	11,770,736
Income tax expense		(5,652,743)	(233,255)	(2,107,363)
Results of operations for exploration and production activities		$ 13,210,701	$ 864,506	$ 9,663,373
[1]	Production costs are lifting costs incurred to operate and maintain productive wells and related equipment and facilities including costs such as operating labor, materials, supplies, and fuel consumed in operations and the costs of operating natural gas liquids plants. In addition, they include expenses related to the asset retirement obligations that were recognized during 2021, 2020 and 2019 of $292,329 , $213,925 , and $198,394 , respectively.
[2]	In accordance with IAS 37, the expense related to asset retirement obligations that were recognized during 2021, 2020 and 2019 in depreciation, depletion, and amortization, were $887,725, $639,123, and $272,147 , respectively.
[3]	Includes transportation costs and naphtha that are not part of the Ecopetrol Business Group’s lifting cost.
[4]	Exploration expenses include the costs of geological and geophysical activities, as well as the non–productive exploratory wells.
[5]	Corresponds to administration, marketing expenses and impairment.

Supplemental information on o_6

Supplemental information on oil and gas producing activities - Reserve information (Details) - gal		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reserve Quantities Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Line Items]
Opening balance		1,770	1,894	1,727
Proved reserves, Revisions of previous estimates	[1]	315	(72)	84
Proved reserves, Improved recovery		139	113	94
Proved reserves, Purchases		0	30	164
Proved reserves, Extensions and discoveries		12	42	67
Proved reserves, Sales		(3)	(1)	0
Proved reserves, Production		(231)	(236)	(242)
Closing balance		2,002	1,770	1,894
Proved developed reserves: Opening balance		1,297	1,365	1,389
Proved developed reserves: Closing balance		1,370	1,297	1,365
Proved undeveloped reserves: Opening balance		473	529	338
Proved undeveloped reserves: Closing balance		632	473	529
Gas [Member]
Reserve Quantities Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Line Items]
Opening balance		2,921	2,906	3,002
Proved reserves, Revisions of previous estimates	[1]	431	51	51
Proved reserves, Improved recovery		107	74	3
Proved reserves, Purchases		0	171	126
Proved reserves, Extensions and discoveries		0	8	2
Proved reserves, Sales		(4)	0	0
Proved reserves, Production		(304)	(289)	(278)
Closing balance		3,151	2,921	2,906
Proved developed reserves: Opening balance		2,636	2,662	2,882
Proved developed reserves: Closing balance		2,561	2,636	2,662
Proved undeveloped reserves: Opening balance		285	244	119
Proved undeveloped reserves: Closing balance		590	285	244
Oil [Member]
Reserve Quantities Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Line Items]
Opening balance		1,257	1,384	1,200
Proved reserves, Revisions of previous estimates	[1]	240	(81)	75
Proved reserves, Improved recovery		120	100	94
Proved reserves, Purchases		0	0	142
Proved reserves, Extensions and discoveries		12	41	66
Proved reserves, Sales		(3)	(1)	0
Proved reserves, Production		(177)	(186)	(193)
Closing balance		1,449	1,257	1,384
Proved developed reserves: Opening balance		834	898	883
Proved developed reserves: Closing balance		921	834	898
Proved undeveloped reserves: Opening balance		423	486	317
Proved undeveloped reserves: Closing balance		528	423	486
[1]	Represents changes in previous proved reserves, upward or downward, resulting from new information (except for an increase in a proved area), usually obtained from development drilling and production history or result from changes in economic factors.

Supplemental information on o_7

Supplemental information on oil and gas producing activities - Future net cash flows (Details) - COP ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental information on oil and gas producing activities (unaudited)
Future cash inflows		$ 401,980,640	$ 187,210,379	$ 279,722,107
Future costs
Production	[1]	(129,109,036)	(85,989,384)	(93,589,960)
Development		(38,451,863)	(28,752,131)	(32,734,702)
Income taxes		(69,053,224)	(13,470,352)	(37,077,231)
Future net cash flow		165,366,517	58,998,512	116,320,214
10% discount factor		(57,009,654)	(18,568,308)	(36,934,889)
Standardized measure of discounted net cash flows		$ 108,356,863	$ 40,430,204	$ 79,385,325
[1]	Production future costs include the estimated costs related to assets retirement obligations in the amount of $17,364,520; $12,545,574 and $10,665,315 as of December 31, 2021, 2020, and 2019, respectively.

Supplemental information on o_8

Supplemental information on oil and gas producing activities - Discounted net cash flows (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental information on oil and gas producing activities (unaudited)
Net change in sales and transfer prices and in production cost (lifting) related to future production	$ 110,224,660	$ (44,482,725)	$ 2,411,040
Changes in estimated future development costs	(22,011,659)	(5,401,560)	(12,627,361)
Sales and transfer of oil and gas produced net of production costs	(50,694,613)	(24,413,621)	(44,297,989)
Net change due to extensions, discoveries, and improved recovery	6,741,068	3,134,469	7,061,712
Net change due to purchase and sales of minerals in place	(13,419)	570,460	213,539
Net change due to revisions in quantity estimates	32,923,680	(3,414,649)	6,756,418
Previously estimated development costs incurred during the period	32,941,335	7,943,239	23,200,357
Accretion of discount	10,468,951	10,468,951	11,542,289
Timing and other	(16,636,925)	567,027	(4,993,389)
Net change in income taxes	(36,016,420)	16,073,288	3,814,269
Aggregate change in the standardized measure of discounted future net cash flows for the year	$ 67,926,658	$ (38,955,121)	$ (6,919,115)

Supplemental information on o_9

Supplemental information on oil and gas producing activities - Additional Information (Details) $ in Millions, $ in Millions	Jul. 17, 2020USD ($)	Dec. 31, 2021COP ($)	Dec. 31, 2020COP ($)	Dec. 31, 2019COP ($)
Exploration For And Evaluation Of Mineral Resources [Line Items]
Provisions for asset retirement obligations included in cost capitalized to natural and enviromental properties		$ 3,930,370	$ 3,936,494	$ 2,336,236
Percentage of interest, rates and obligatios acquired - Gato do Mato"			30.00%
Expense related to the asset retirement obligations		292,329	$ 213,925	198,394
Depreciation, depletion and amortization related to asset retirement obligations		$ 887,725	$ 639,123	$ 272,147
Percentage of transferred crude oil and gas production based on value to intercompany units		19.90%	18.90%	21.60%
Percentage of transferred crude oil and gas production based on volume to intercompany units		52.10%	45.90%	51.50%
Percentage of interest of the block Saturn	10.00%
Percentage of estimated reserve specialized firms		99.40%
Interest rate on acquisition of block Saturn	10.00%
Estimated costs related to assets retirement obligations		$ 17,364,520	$ 12,545,574	$ 10,665,315
Guajira Association Contract [Member]
Exploration For And Evaluation Of Mineral Resources [Line Items]
Percentage of interest acquired			43.00%
Ecopetrol Oleo e Gas do Brasil Ltda. [Member]
Exploration For And Evaluation Of Mineral Resources [Line Items]
Cash transferred for Saturn Block	$ 85
Shell and Chevron [Member]
Exploration For And Evaluation Of Mineral Resources [Line Items]
Proportion of ownership interest in join operation by Shell and Chevron each	45.00%

Subsequent and relevant events

Subsequent and relevant events (Details) $ / shares in Units, R$ in Thousands, $ in Millions, $ in Millions	Apr. 05, 2022BRL (R$)shares	Feb. 08, 2022COP ($)$ / shares	Feb. 04, 2022	Feb. 28, 2022BRL (R$)	Dec. 31, 2021COP ($)item$ / shares	Dec. 31, 2021USD ($)item	Apr. 04, 2022USD ($)	Mar. 29, 2022USD ($)	Mar. 22, 2022
Disclosure of non-adjusting events after reporting period [line items]
Proposed dividend per share | $ / shares					$ 243
Payout ratio to the net profit					59.8	59.8
Percentage of additional dividend proposed		9.10%
Additional dividend proposed per share | $ / shares		$ 37
Total dividend proposed per share | $ / shares		$ 280
Occasional reserve | $		$ 8,889,900
Debt issuance costs					$ 42,699	$ 42,699
Number of Exploratory Blocks Located in Santos Basin | item					6	6
Number of Exploratory Blocks Located in Brazil | item					12	12
Proportion of voting rights held in joint venture					30.00%	30.00%
Shell Brasil Petroleo Ltda
Disclosure of non-adjusting events after reporting period [line items]
Proportion of voting rights held in joint venture					70.00%	70.00%
Senior notes, 2038
Disclosure of non-adjusting events after reporting period [line items]
Aggregate amount | $							$ 500
Senior notes, 2038 | Consorcio Transmantaro S.A.
Disclosure of non-adjusting events after reporting period [line items]
Interest rate							5.20%
Weighted average life			14 years 6 months
Senior notes, 2023 | Consorcio Transmantaro S.A.
Disclosure of non-adjusting events after reporting period [line items]
Interest rate									4.375%
Rydberg Project | Ecopetrol America
Disclosure of non-adjusting events after reporting period [line items]
Net book value of asset withdrawn | $								$ 74.2
BNDES
Disclosure of non-adjusting events after reporting period [line items]
Contracted implementation investment plan amount | R$				R$ 567400
CTEEP Board Of Directors
Disclosure of non-adjusting events after reporting period [line items]
Debentures issued | shares	700,000
CTEEP Board Of Directors | 1st series
Disclosure of non-adjusting events after reporting period [line items]
Debt maturity period	7 years
CTEEP Board Of Directors | 2nd series
Disclosure of non-adjusting events after reporting period [line items]
Debt issuance costs | R$	R$ 700000
Debt maturity period	10 years

Exhibit 1 - Consolidated subs_3

Exhibit 1 - Consolidated subsidiaries, associates, and joint ventures - Consolidated subsidiary companies (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Equity	$ 90,583,772	$ 53,499,363	$ 58,231,628	$ 57,107,780
Profit (loss) of the year	17,630,554	2,737,853	$ 15,005,155
Total assets	242,426,616	137,694,169
Total liabilities	$ 151,842,844	$ 84,194,806
Refineria de Cartagena
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Refining of hydrocarbons, commercialization and distribution of products
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 17,933,857
Profit (loss) of the year	(1,238,939)
Total assets	33,094,487
Total liabilities	$ 15,160,630
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 transport by pipelines of hydrocarbons
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 16,408,773
Profit (loss) of the year	4,784,348
Total assets	18,586,004
Total liabilities	$ 2,177,231
Oleoducto Central S. A. - Ocensa [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	72.65%
Activity	Transportation by crude oil pipelines
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 3,177,600
Profit (loss) of the year	2,353,602
Total assets	7,071,850
Total liabilities	$ 3,894,250
Ecopetrol Global Energy SLU [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Investment Vehicle
Country/Domicile	Spain
Geographic area of operations	Spain
Equity	$ 12,083,224
Profit (loss) of the year	240,792
Total assets	12,083,538
Total liabilities	$ 314
Hocol Petroleum Limited - HPL [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Investment Vehicle
Country/Domicile	Bermuda
Geographic area of operations	Bermuda
Equity	$ 3,761,673
Profit (loss) of the year	453,876
Total assets	3,791,829
Total liabilities	$ 30,156
Ecopetrol America LLC.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Exploration and exploitation of hydrocarbons
Country/Domicile	United States
Geographic area of operations	United States
Equity	$ 2,962,647
Profit (loss) of the year	258,622
Total assets	3,461,610
Total liabilities	$ 498,963
Hocol S.A.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Exploration and exploitation of hydrocarbons
Country/Domicile	Cayman Islands
Geographic area of operations	Colombia
Equity	$ 3,258,783
Profit (loss) of the year	483,792
Total assets	4,931,264
Total liabilities	$ 1,672,481
Esenttia S.A. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Production and commercialization of polypropylene resin
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 2,322,456
Profit (loss) of the year	287,425
Total assets	3,296,001
Total liabilities	$ 973,545
Ecopetrol Capital AG [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Collection of surpluses from, and providing funds to, companies of Ecopetrol Business Group
Country/Domicile	Switzerland
Geographic area of operations	Switzerland
Equity	$ 2,404,032
Profit (loss) of the year	218,723
Total assets	9,007,535
Total liabilities	$ 6,603,503
Andean Chemicals Ltd. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Investment Vehicle
Country/Domicile	Bermuda
Geographic area of operations	Bermuda
Equity	$ 1,605,929
Profit (loss) of the year	152,357
Total assets	1,606,253
Total liabilities	$ 324
Oleoducto Bicentenario de Colombia S.A.S
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol	100.00%
Activity	Transportation by crude oil pipelines
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 1,426,391
Profit (loss) of the year	731,832
Total assets	2,759,984
Total liabilities	$ 1,333,593
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	Transportation by crude oil pipelines
Country/Domicile	Panama
Geographic area of operations	Colombia
Equity	$ 991,866
Profit (loss) of the year	406,590
Total assets	1,434,010
Total liabilities	$ 442,144
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 natural gas and LPG transportation and distribution companies in Colombia
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 656,135
Profit (loss) of the year	276,422
Total assets	659,053
Total liabilities	$ 2,918
Black Gold Re Ltd. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Reinsurer for companies of Ecopetrol Business Group
Country/Domicile	Bermuda
Geographic area of operations	Bermuda
Equity	$ 987,442
Profit (loss) of the year	15,284
Total assets	1,267,465
Total liabilities	$ 280,023
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	Transportation by crude oil pipelines
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 432,870
Profit (loss) of the year	375,475
Total assets	669,876
Total liabilities	$ 237,006
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	$ 430,162
Profit (loss) of the year	274,562
Total assets	564,140
Total liabilities	$ 133,978
Ecopetrol Oleo e Gas do Brasil Ltda. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Real
Ownership interest Ecopetrol	100.00%
Activity	Exploration and exploitation of hydrocarbons
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 1,774,650
Profit (loss) of the year	(212,853)
Total assets	1,861,482
Total liabilities	$ 86,832
Ecopetrol del Peru S.A. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Exploration and exploitation of hydrocarbons
Country/Domicile	Peru
Geographic area of operations	Peru
Equity	$ 61,103
Profit (loss) of the year	(341)
Total assets	63,492
Total liabilities	$ 2,389
ECP Hidrocarburos de Mexico SA de CV [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Offshore exploration
Country/Domicile	Mexico
Geographic area of operations	Mexico
Equity	$ 52,454
Profit (loss) of the year	(126,458)
Total assets	57,096
Total liabilities	$ 4,642
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	$ 13,447
Profit (loss) of the year	90
Total assets	16,952
Total liabilities	$ 3,505
Esenttia Resinas del Peru SAC [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Commercialization polypropylene resins and masterbatches
Country/Domicile	Peru
Geographic area of operations	Peru
Equity	$ 12,240
Profit (loss) of the year	4,555
Total assets	67,144
Total liabilities	$ 54,904
Ecopetrol America
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Exploration and exploitation of hydrocarbons
Country/Domicile	United States
Geographic area of operations	United States
Equity	$ 10,195,017
Profit (loss) of the year	581,820
Total assets	10,202,943
Total liabilities	$ 7,926
Ecopetrol Permian LLC [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Activity	Exploration and exploitation of hydrocarbons
Country/Domicile	United States
Geographic area of operations	United States
Equity	$ 5,355,562
Profit (loss) of the year	373,104
Total assets	5,932,250
Total liabilities	$ 576,688
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	$ 46
Profit (loss) of the year	(31)
Total assets	48
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	$ 53
Profit (loss) of the year	(28)
Total assets	55
Total liabilities	$ 2
Alcanos de Colombia S.A. E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol	29.61%
Activity	Residential public fuel gas service, construction and operation of gas pipelines, distribution networks, regulation, measurement, and compression stations.
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 370,507
Profit (loss) of the year	107,960
Total assets	773,501
Total liabilities	$ 402,994
Metrogas de Colombia S.A E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol	33.49%
Activity	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	Colombia
Geographic area of operations	Colombia
Equity	$ 65,787
Profit (loss) of the year	17,620
Total assets	121,984
Total liabilities	$ 56,197
Gases del Oriente S.A. E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol	48.50%
Activity	Home public service of distribution of fuel gas and the development of all complementary activities to the supplying of said service.
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 122,172
Profit (loss) of the year	57,780
Total assets	194,729
Total liabilities	$ 72,557
Promotora de Gases del Sur S.A. E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol	31.44%
Activity	Promote the linking of national or foreign capital, public or private, to achieve the gas massification project.
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 58,638
Profit (loss) of the year	22,846
Total assets	82,268
Total liabilities	$ 23,630
Combustibles Lquidos de Colombia S.A E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol	41.61%
Activity	Wholesale marketing of fuel gas, the supplying of the residential public service of LPG distribution and the development of complementary activities to supply the service.
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 58,964
Profit (loss) of the year	3,876
Total assets	75,171
Total liabilities	$ 16,207
Gasoducto de Oriente S.A [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol	31.61%
Activity	Design and construction of hydrocarbon production and treatment plants, construction of hydrocarbon transmission lines.
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 556
Profit (loss) of the year	(29)
Total assets	584
Total liabilities	$ 28
Ecopetrol Singapore PTE. LTD [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Singapore dollar
Ownership interest Ecopetrol	100.00%
Activity	Holding company with investment in an international trading company for crude oil and refined products
Country/Domicile	Singapore
Geographic area of operations	Asia
Equity	$ 258
Profit (loss) of the year	(48)
Total assets	261
Total liabilities	$ 3
Ecopetrol Trading Asia PTE. LTD [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Singapore dollar
Ownership interest Ecopetrol	100.00%
Activity	International trading of crude oil and refined products
Country/Domicile	Singapore
Geographic area of operations	Asia
Equity	$ 251
Profit (loss) of the year	(46)
Total assets	31,051
Total liabilities	$ 30,800
Interconexin Elctrica S.A. ESP
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol	51.41%
Activity	Public transmission service of electric power, the development of infrastructure projects and their commercial exploitation and the development of information technology systems, activities and services and telecommunications.
Country/Domicile	Colombia
Geographic area of operations	Latin-America
Equity	$ 22,132,996
Profit (loss) of the year	509,125
Total assets	61,698,188
Total liabilities	$ 39,565,192

Exhibit 1 - Consolidated subs_4

Exhibit 1 - Consolidated subsidiaries, associates, and joint ventures - Consolidated subsidiary companies (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Ownership interest Ecopetrol, joint venture	50.00%
Equity	$ 90,583,772	$ 53,499,363	$ 58,231,628	$ 57,107,780
Profit (loss) of the year	17,630,554	2,737,853	$ 15,005,155
Total assets	242,426,616	137,694,169
Total liabilities	$ 151,842,844	$ 84,194,806
Ecodiesel Colombia S.A
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol, joint venture	50.00%
Activity, joint venture	Production, trading and distribution of biofuels and oleochemicals
Country/Domicile, joint venture	Colombia
Geographic area of operations, joint venture	Colombia
Equity	$ 128,037
Profit (loss) of the year	51,656
Total assets	232,253
Total liabilities	$ 104,216
Equion Energia Limited [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	US Dollar
Ownership interest Ecopetrol, joint venture	51.00%
Activity, joint venture	Exploration and exploitationof hydrocarbons
Country/Domicile, joint venture	United Kingdom
Geographic area of operations, joint venture	Colombia
Equity	$ 2,960,397
Profit (loss) of the year	52,934
Total assets	3,057,870
Total liabilities	$ 97,473
Serviport S.A
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol, associate	49.00%
Activity, associate	Services for the supportof loading andunloading of oil ships,supply of equipment,technical inspections,and load measurements
Country/Domicile, associate	Colombia
Geographic area of operations, associate	Colombia
Equity	$ 19,181
Profit (loss) of the year	2,079
Total assets	43,731
Total liabilities	$ 24,550
Sociedad Portuaria Olefinas y Derivados S.A. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures [Line Items]
Functional currency	Colombian Peso
Ownership interest Ecopetrol, associate	50.00%
Activity, associate	Construction, use,maintenanceand administrationof port facilities,ports, private docks.
Country/Domicile, associate	Colombia
Geographic area of operations, associate	Colombia
Equity	$ 4,372
Profit (loss) of the year	(734)
Total assets	6,996
Total liabilities	$ 2,624

Exhibit 1 - Consolidated subs_5

Exhibit 1 - Consolidated subsidiaries, associates, and joint ventures - Interconexion Electrica S.A. ESP (Details) - COP ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of subsidiaries [line items]
Total assets	$ 242,426,616	$ 137,694,169
Total liabilities	151,842,844	84,194,806
Equity	90,583,772	53,499,363	$ 58,231,628	$ 57,107,780
Net profit (loss) for the period	$ 17,630,554	$ 2,737,853	$ 15,005,155
Consorcio Transmantaro S.A.
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	US Dollar
Ownership interest Ecopetrol	60.00%
Country/Domicile	Peru
Geographic area of operations	Peru
Total assets	$ 7,250,457
Total liabilities	5,578,049
Equity	1,672,408
Net profit (loss) for the period	$ 234,866
Interligao Elctrica Evrecy [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 79,166
Total liabilities	9,677
Equity	69,489
Net profit (loss) for the period	$ (8,716)
Fundo De Investimento Assis [Member]
Disclosure of subsidiaries [line items]
Activity	Autonomous Fund – Special Purpose Entity
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.73%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 27,170
Total liabilities	2
Equity	27,168
Net profit (loss) for the period	$ 3,669
Fundo de Investimento Barra Bonita Renda Fixa Referenciado
Disclosure of subsidiaries [line items]
Activity	Autonomous Fund – Special Purpose Entity
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.77%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 78,920
Total liabilities	4
Equity	78,916
Net profit (loss) for the period	$ 1,637
Fundo de Investimento Referenciado di Bandeirantes
Disclosure of subsidiaries [line items]
Activity	Autonomous Fund – Special Purpose Entity
Functional currency	Brazilian real
Ownership interest Ecopetrol	13.10%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 158,035
Total liabilities	13
Equity	158,022
Net profit (loss) for the period	$ 8,553
Fundo de Investimento Xavantes Referenciado di
Disclosure of subsidiaries [line items]
Activity	Autonomous Fund – Special Purpose Entity
Functional currency	Brazilian real
Ownership interest Ecopetrol	15.69%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 321,759
Total liabilities	23
Equity	321,736
Net profit (loss) for the period	$ 16,238
Interconexiones Viales
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Chilean peso
Ownership interest Ecopetrol	65.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 6,752
Total liabilities	1,078
Equity	5,674
Net profit (loss) for the period	$ (3,396)
Interligao Eltrica Aguape
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 482,218
Total liabilities	80,582
Equity	401,636
Net profit (loss) for the period	$ 77,267
Interligao Eltrica Biguau
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 250,337
Total liabilities	19,312
Equity	231,025
Net profit (loss) for the period	$ (2,723)
Interligao Eltrica De Minas Gerais
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 113,493
Total liabilities	7,885
Equity	105,608
Net profit (loss) for the period	$ 6,597
Interligao Eltrica Itapura
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 147,721
Total liabilities	16,394
Equity	131,327
Net profit (loss) for the period	$ 7,094
Interligao Eltrica Itaquer
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 449,766
Total liabilities	94,399
Equity	355,367
Net profit (loss) for the period	$ 68,803
Interligao Eltrica Itanes
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 301,579
Total liabilities	23,100
Equity	278,479
Net profit (loss) for the period	$ 32,447
Interligao Eltrica Norte E Nordeste
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 389,507
Total liabilities	128,724
Equity	260,783
Net profit (loss) for the period	$ 40,840
Interligao Eltrica Pinheiros
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 526,781
Total liabilities	73,331
Equity	453,450
Net profit (loss) for the period	$ 89,593
Interligao Eltrica Riacho Grande
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 41,740
Total liabilities	8,811
Equity	50,551
Net profit (loss) for the period	$ (3,907)
Interligao Eltrica Serra Do Japi
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 450,593
Total liabilities	65,384
Equity	385,209
Net profit (loss) for the period	$ 62,424
Interligao Eltrica Sul
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 175,464
Total liabilities	27,833
Equity	147,631
Net profit (loss) for the period	$ 22,352
Interligao Eltrica Tibagi
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 175,038
Total liabilities	26,632
Equity	148,406
Net profit (loss) for the period	$ 10,973
Internexa
Disclosure of subsidiaries [line items]
Activity	Telecommunications and ICT
Functional currency	Colombian peso
Ownership interest Ecopetrol	99.42%
Country/Domicile	Colombia
Geographic area of operations	Colombia
Total assets	$ 531,292
Total liabilities	423,449
Equity	107,843
Net profit (loss) for the period	$ 21,881
Transamerican Telecomunication S.A.
Disclosure of subsidiaries [line items]
Activity	Telecommunications and ICT
Functional currency	US Dollar
Ownership interest Ecopetrol	99.42%
Country/Domicile	Argentina
Geographic area of operations	Argentina
Total assets	$ 40,568
Total liabilities	19,989
Equity	20,579
Net profit (loss) for the period	$ (58)
Internexa Brazil Operadora de Telecomunicaes
Disclosure of subsidiaries [line items]
Activity	Telecommunications and ICT
Functional currency	Brazilian real
Ownership interest Ecopetrol	99.42%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 249,586
Total liabilities	229,088
Equity	20,498
Net profit (loss) for the period	$ (10,614)
Internexa Chile
Disclosure of subsidiaries [line items]
Activity	Telecommunications and ICT
Functional currency	Chilean peso
Ownership interest Ecopetrol	98.43%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 78,415
Total liabilities	56,492
Equity	21,923
Net profit (loss) for the period	$ 4,033
Internexa Participaes
Disclosure of subsidiaries [line items]
Activity	Investment Vehicle
Functional currency	Brazilian real
Ownership interest Ecopetrol	99.42%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 19,942
Total liabilities	603
Equity	19,339
Net profit (loss) for the period	$ (10,487)
Internexa Peru
Disclosure of subsidiaries [line items]
Activity	Telecommunications and ICT
Functional currency	US Dollar
Ownership interest Ecopetrol	99.42%
Country/Domicile	Peru
Geographic area of operations	Peru
Total assets	$ 320,245
Total liabilities	249,061
Equity	71,184
Net profit (loss) for the period	$ 17,440
ISA Bolivia [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Country/Domicile	Bolivia
Geographic area of operations	Bolivia
Total assets	$ 124,619
Total liabilities	8,634
Equity	115,985
Net profit (loss) for the period	$ 11,019
ISA Capital Do Brazil [Member]
Disclosure of subsidiaries [line items]
Activity	Investment Vehicle
Functional currency	Brazilian real
Ownership interest Ecopetrol	100.00%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 3,923,685
Total liabilities	222,115
Equity	3,701,570
Net profit (loss) for the period	$ 734,604
ISA CTEEP [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Brazilian real
Ownership interest Ecopetrol	35.82%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 19,986,151
Total liabilities	9,713,678
Equity	10,272,473
Net profit (loss) for the period	$ 2,096,201
ISA Interchile [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 6,769,025
Total liabilities	5,514,461
Equity	1,254,564
Net profit (loss) for the period	$ (297,034)
ISA Intercolombia [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Colombian peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Colombia
Geographic area of operations	Colombia
Total assets	$ 279,988
Total liabilities	186,954
Equity	93,034
Net profit (loss) for the period	$ 38,093
ISA Intervial Chile [Member]
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Chilean peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 3,971,874
Total liabilities	822,694
Equity	3,149,180
Net profit (loss) for the period	$ 252,450
ISA Intervial Colombia [Member]
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Colombian peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Colombia
Geographic area of operations	Colombia
Total assets	$ 566
Equity	566
Net profit (loss) for the period	$ (7)
ISA Inversiones Chile [Member]
Disclosure of subsidiaries [line items]
Activity	Investment Vehicle
Functional currency	Chilean peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 3,748,138
Total liabilities	6,872
Equity	3,741,266
Net profit (loss) for the period	$ 202,436
ISA Inversiones Costera Chile [Member]
Disclosure of subsidiaries [line items]
Activity	Investment Vehicle
Functional currency	Chilean peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 599,723
Total liabilities	595,633
Equity	4,090
Net profit (loss) for the period	$ (31,127)
ISA Inversiones Tolten [Member]
Disclosure of subsidiaries [line items]
Activity	Investment Vehicle
Functional currency	Chilean peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 43
Equity	43
Net profit (loss) for the period	$ 10
ISA Investimentos E Participaes [Member]
Disclosure of subsidiaries [line items]
Activity	Investment Vehicle
Functional currency	Brazilian real
Ownership interest Ecopetrol	100.00%
Country/Domicile	Brazil
Geographic area of operations	Brazil
Total assets	$ 933,742
Total liabilities	7,980
Equity	925,762
Net profit (loss) for the period	$ 216,596
ISA Peru [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	US Dollar
Ownership interest Ecopetrol	99.98%
Country/Domicile	Peru
Geographic area of operations	Peru
Total assets	$ 962,823
Total liabilities	772,002
Equity	190,821
Net profit (loss) for the period	$ 48,791
ISA REP [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	US Dollar
Ownership interest Ecopetrol	60.00%
Country/Domicile	Peru
Geographic area of operations	Peru
Total assets	$ 1,949,243
Total liabilities	1,438,949
Equity	510,294
Net profit (loss) for the period	$ 202,971
ISA Transelca [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Colombian peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Colombia
Geographic area of operations	Colombia
Total assets	$ 1,507,616
Total liabilities	580,035
Equity	927,581
Net profit (loss) for the period	$ 184,024
Linear Systems RE [Member]
Disclosure of subsidiaries [line items]
Activity	Other business
Functional currency	US dollar
Ownership interest Ecopetrol	100.00%
Country/Domicile	Bermudas
Geographic area of operations	Bermudas
Total assets	$ 130,264
Total liabilities	104,551
Equity	25,713
Net profit (loss) for the period	$ 3,710
Proyectos De Infraestructura Del Per [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	US Dollar
Ownership interest Ecopetrol	100.00%
Country/Domicile	Peru
Geographic area of operations	Peru
Total assets	$ 153,956
Total liabilities	146,612
Equity	7,344
Net profit (loss) for the period	$ 704
Ruta Costera [Member]
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Colombian peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Colombia
Geographic area of operations	Colombia
Total assets	$ 2,680,312
Total liabilities	2,491,025
Equity	189,287
Net profit (loss) for the period	$ (17,385)
Ruta De La Araucana [Member]
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Chilean peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 762,038
Total liabilities	450,237
Equity	311,801
Net profit (loss) for the period	$ 33,805
Ruta De Los Ros [Member]
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Chilean peso
Ownership interest Ecopetrol	75.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 226,203
Total liabilities	149,717
Equity	76,486
Net profit (loss) for the period	$ 20,336
Ruta Del Bosque [Member]
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Chilean peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 376,464
Total liabilities	264,533
Equity	111,931
Net profit (loss) for the period	$ 43,786
Ruta Del Loa [Member]
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Chilean peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 470,016
Total liabilities	246,754
Equity	223,262
Net profit (loss) for the period	$ 25,607
Ruta del Maipo [Member]
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Chilean peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 6,695,805
Total liabilities	4,647,650
Equity	2,048,155
Net profit (loss) for the period	$ 214,324
Ruta Del Maule [Member]
Disclosure of subsidiaries [line items]
Activity	Roads concessions
Functional currency	Chilean peso
Ownership interest Ecopetrol	100.00%
Country/Domicile	Chile
Geographic area of operations	Chile
Total assets	$ 26,822
Total liabilities	17,337
Equity	9,485
Net profit (loss) for the period	$ (21,212)
Sistemas Inteligentes en Red [Member]
Disclosure of subsidiaries [line items]
Activity	Other business
Functional currency	Colombia peso
Ownership interest Ecopetrol	99.77%
Country/Domicile	Colombia
Geographic area of operations	Colombia
Total assets	$ 17,265
Total liabilities	7,932
Equity	9,333
Net profit (loss) for the period	$ 3,457
XM [Member]
Disclosure of subsidiaries [line items]
Activity	Electric power
Functional currency	Colombian peso
Ownership interest Ecopetrol	99.73%
Country/Domicile	Colombia
Geographic area of operations	Colombia
Total assets	$ 245,199
Total liabilities	212,583
Equity	32,616
Net profit (loss) for the period	$ 11,290

Exhibit 2 - Conditions of the_3

Exhibit 2 - Conditions of the most significant debt (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021COP ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020COP ($)	Dec. 31, 2020USD ($)
Conditions of the most significant debt
Borrowings	$ 95,060,928		$ 46,731,754
Bonds domestic currency One [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2010-12
Expiry date	2040-12
Currency	COP
Disbursement	$ 284,300
Borrowings	$ 284,300		284,300
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds domestic currency Two [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2013-08
Expiry date	2023-08
Currency	COP
Disbursement	$ 168,600
Borrowings	$ 168,600		168,600
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds domestic currency Three [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2013-08
Expiry date	2028-08
Currency	COP
Disbursement	$ 347,500
Borrowings	$ 347,500		347,500
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds domestic currency Four [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2013-08
Expiry date	2043-08
Currency	COP
Disbursement	$ 262,950
Borrowings	$ 262,950		262,950
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds domestic currency Five [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2011-12
Expiry date	2023-12
Currency	COP
Disbursement	$ 180,000
Borrowings	$ 180,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds domestic currency Six [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2011-12
Expiry date	2041-12
Currency	COP
Disbursement	$ 120,000
Borrowings	$ 120,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds domestic currency Seven [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2013-05
Expiry date	2022-05
Currency	COP
Disbursement	$ 120,000
Borrowings	$ 120,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Eight [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2013-05
Expiry date	2028-05
Currency	COP
Disbursement	$ 100,000
Borrowings	$ 100,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Nine [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2015-05
Expiry date	2025-05
Currency	COP
Disbursement	$ 100,000
Borrowings	$ 100,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Ten [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2015-05
Expiry date	2030-05
Currency	COP
Disbursement	$ 120,000
Borrowings	$ 120,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Eleven [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2015-05
Expiry date	2035-05
Currency	COP
Disbursement	$ 280,000
Borrowings	$ 280,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Tweleve [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-02
Expiry date	2024-02
Currency	COP
Disbursement	$ 115,000
Borrowings	$ 115,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Thirteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-02
Expiry date	2028-02
Currency	COP
Disbursement	$ 152,000
Borrowings	$ 152,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency fourteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-02
Expiry date	2041-02
Currency	COP
Disbursement	$ 133,000
Borrowings	$ 133,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Fifteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-04
Expiry date	2024-04
Currency	COP
Disbursement	$ 260,780
Borrowings	$ 260,780
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Sixteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-04
Expiry date	2032-04
Currency	COP
Disbursement	$ 196,300
Borrowings	$ 196,300
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Seventeen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-04
Expiry date	2042-04
Currency	COP
Disbursement	$ 242,920
Borrowings	$ 242,920
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Eighteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-11
Expiry date	2025-11
Currency	COP
Disbursement	$ 150,080
Borrowings	$ 150,080
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Nineteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-11
Expiry date	2031-11
Currency	COP
Disbursement	$ 120,100
Borrowings	$ 120,100
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Twenty [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-11
Expiry date	2047-11
Currency	COP
Disbursement	$ 229,820
Borrowings	$ 229,820
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Twenty One [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-07
Expiry date	2027-07
Currency	COP
Disbursement	$ 156,500
Borrowings	$ 156,500
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Twenty Two [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-07
Expiry date	2033-07
Currency	COP
Disbursement	$ 142,063
Borrowings	$ 142,063
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Twenty Three [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-07
Expiry date	2043-07
Currency	COP
Disbursement	$ 201,437
Borrowings	$ 201,437
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Twenty Four [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2020-08
Expiry date	2029-08
Currency	COP
Disbursement	$ 160,000
Borrowings	$ 160,000
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds domestic currency Twenty Five [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2020-08
Expiry date	2040-08
Currency	UVR (1)
Disbursement	$ 147,132
Borrowings	$ 147,132
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Annual
Bonds domestic currency Twenty Six [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-07
Expiry date	2034-01
Currency	UVR (1)
Disbursement	$ 341,416
Borrowings	$ 341,416
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds domestic currency Twenty Seven [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2011-10
Expiry date	2026-10
Currency	COP
Disbursement	$ 100,000
Borrowings	$ 100,000
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
Syndicated commercial loan, domestic currency One [Member]
Conditions of the most significant debt
Company	Oleoducto Bicentenario
Issue date	2012-07
Expiry date	2024-07
Currency	COP
Disbursement	$ 2,100,000
Borrowings	$ 592,550		$ 800,450
Interest rate	Floating
Amortization of the principal	Quarterly
Payment of interest	Quarterly
Commercial Loan One [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-12
Expiry date	2028-01
Currency	COP
Disbursement	$ 250,000
Borrowings	$ 250,000
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Commercial Loan Two [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-12
Expiry date	2034-01
Currency	COP
Disbursement	$ 150,000
Borrowings	$ 150,000
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Commercial Loan Three [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-12
Expiry date	2034-01
Currency	COP
Disbursement	$ 150,000
Borrowings	$ 150,000
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Commercial Loan Four [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-12
Expiry date	2034-01
Currency	UVR (1)
Disbursement	$ 392,168
Borrowings	$ 161,904
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Commercial Loan Five [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-07
Expiry date	2035-07
Currency	COP
Disbursement	$ 217,500
Borrowings	$ 4,651
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Commercial Loan Six [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-10
Expiry date	2031-10
Currency	COP
Disbursement	$ 158,050
Borrowings	$ 158,050
Interest rate	Floating
Amortization of the principal	Quarterly
Payment of interest	Quarterly
Commercial Loan Seven [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-10
Expiry date	2028-10
Currency	COP
Disbursement	$ 70,500
Borrowings	$ 70,500
Interest rate	Floating
Amortization of the principal	Quarterly
Payment of interest	Quarterly
Commercial Loan Eight [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-07
Expiry date	2024-07
Currency	COP
Disbursement	$ 28,000
Borrowings	$ 8,717
Interest rate	Floating
Amortization of the principal	Quarterly
Payment of interest	Quarterly
Commercial Loan Nine Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-08
Expiry date	2024-08
Currency	COP
Disbursement	$ 32,000
Borrowings	$ 23,863
Interest rate	Floating
Amortization of the principal	Quarterly
Payment of interest	Quarterly
Commercial Loan Ten [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-12
Expiry date	2024-12
Currency	COP
Disbursement	$ 10,000
Borrowings	$ 7,472
Interest rate	Floating
Amortization of the principal	Quarterly
Payment of interest	Quarterly
Commercial Loan Eleven Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-05
Expiry date	2028-11
Currency	COP
Disbursement	$ 59,467
Borrowings	$ 59,467
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Commercial Loan Twelve [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-11
Expiry date	2028-11
Currency	COP
Disbursement	$ 23,000
Borrowings	$ 23,000
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency One [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2013-09
Expiry date	2023-09
Currency	USD
Disbursement		$ 1,300
Borrowings		1,300		$ 1,300
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Two [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2013-09
Expiry date	2043-09
Currency	USD
Disbursement		850
Borrowings		850		850
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Three [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2014-05
Expiry date	2045-05
Currency	USD
Disbursement		2,000
Borrowings		2,000		2,000
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Four [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2014-09
Expiry date	2025-01
Currency	USD
Disbursement		1,200
Borrowings		1,200		1,200
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Five [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2015-06
Expiry date	2026-06
Currency	USD
Disbursement		1,500
Borrowings		1,500		1,500
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Six [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2021-11
Expiry date	2031-11
Currency	USD
Disbursement		1,250
Borrowings		1,250
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Seven [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2021-11
Expiry date	2051-11
Currency	USD
Disbursement		750
Borrowings		750
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Eight [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2016-06
Expiry date	2023-09
Currency	USD
Disbursement		500
Borrowings		500		500
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Nine [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2020-04
Expiry date	2030-04
Currency	USD
Disbursement		2,000
Borrowings		2,000		2,000
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Ten
Conditions of the most significant debt
Company	Oleoducto Central S.A.S.
Issue date	2014-05
Expiry date	2021-05
Currency	USD
Disbursement		500
Borrowings		500		500
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Eleven [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-11
Expiry date	2033-11
Currency	USD
Disbursement		330
Borrowings		330
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Tweleve [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-07
Expiry date	2034-01
Currency	USD
Disbursement		151
Borrowings		151
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Thirteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2011-01
Expiry date	2026-01
Currency	USD
Disbursement		38
Borrowings		38
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Quarterly
Bonds Foreign currency Fourteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2012-10
Expiry date	2031-04
Currency	USD
Disbursement		40
Borrowings		40
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Fifteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2012-11
Expiry date	2022-11
Currency	USD
Disbursement		26
Borrowings		26
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Sixteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2013-02
Expiry date	2023-02
Currency	USD
Disbursement		19
Borrowings		19
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Seventeen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2013-05
Expiry date	2023-05
Currency	USD
Disbursement		450
Borrowings		450
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Eighteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2019-04
Expiry date	2034-04
Currency	USD
Disbursement		600
Borrowings		600
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Nineteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-03
Expiry date	2024-02
Currency	USD
Disbursement		54
Borrowings		54
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Annual
Bonds Foreign currency Twenty [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-05
Expiry date	2025-04
Currency	USD
Disbursement		111
Borrowings		111
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Twenty one [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2019-12
Expiry date	2029-12
Currency	USD
Disbursement		73
Borrowings		73
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Twenty Two [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2020-12
Expiry date	2028-11
Currency	USD
Disbursement		143
Borrowings		143
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Twenty Three [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2020-12
Expiry date	2044-05
Currency	USD
Disbursement		143
Borrowings		143
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Twenty Four Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-02
Expiry date	2044-07
Currency	USD
Disbursement		121
Borrowings		121
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Twenty Five [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-05
Expiry date	2024-05
Currency	USD
Disbursement		215
Borrowings		215
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Bullet
Bonds Foreign currency Twenty Six [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-10
Expiry date	2031-10
Currency	USD
Disbursement		120
Borrowings		120
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Half-yearly
Bonds Foreign currency Twenty Seven [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-10
Expiry date	2039-10
Currency	USD
Disbursement		50
Borrowings		50
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Twenty Eight [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2001-08
Expiry date	2022-06
Currency	USD
Disbursement		421
Borrowings		421
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Twenty Nine [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-08
Expiry date	2025-06
Currency	USD
Disbursement		213
Borrowings		213
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Thirty [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-08
Expiry date	2030-12
Currency	USD
Disbursement		220
Borrowings		220
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Thirty One [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-08
Expiry date	2024-12
Currency	USD
Disbursement		37
Borrowings		37
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Thirty Two [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2019-06
Expiry date	2030-12
Currency	USD
Disbursement		183
Borrowings		183
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Thirty Three [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2006-11
Expiry date	2022-06
Currency	USD
Disbursement		55
Borrowings		55
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Thirty Four [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-02
Expiry date	2050-06
Currency	USD
Disbursement		32
Borrowings		32
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Bonds Foreign currency Thirty Five [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-07
Expiry date	2056-06
Currency	USD
Disbursement		1,200
Borrowings		1,200
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Half-yearly
International Commercial Loans One [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2019-09
Expiry date	2025-09
Currency	USD
Disbursement		70
Borrowings		70
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Two [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-06
Expiry date	2022-06
Currency	USD
Disbursement		40
Borrowings		40
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Bullet
International Commercial Loans Three [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-06
Expiry date	2022-06
Currency	USD
Disbursement		10
Borrowings		10
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Bullet
International Commercial Loans Four [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-06
Expiry date	2022-06
Currency	USD
Disbursement		40
Borrowings		40
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Bullet
International Commercial Loans Five [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-06
Expiry date	2022-06
Currency	USD
Disbursement		10
Borrowings		10
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Bullet
International Commercial Loans Six [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2020-08
Expiry date	2022-08
Currency	USD
Disbursement		83
Borrowings		82
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Bullet
International Commercial Loans Seven [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-11
Expiry date	2022-02
Currency	USD
Disbursement		62
Borrowings		62
Interest rate	Fixed
Amortization of the principal	Bullet
Payment of interest	Bullet
International Commercial Loans Eight [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-02
Expiry date	2024-07
Currency	USD
Disbursement		5
Borrowings		3
Interest rate	Floating
Amortization of the principal	Quarterly
Payment of interest	Quarterly
International Commercial Loans Nine [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2014-01
Expiry date	2029-03
Currency	USD
Disbursement		51
Borrowings		25
Interest rate	Floating
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Ten [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2014-01
Expiry date	2024-01
Currency	USD
Disbursement		19
Borrowings		4
Interest rate	Fixed
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Eleven [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-08
Expiry date	2032-03
Currency	USD
Disbursement		49
Borrowings		36
Interest rate	Floating
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Twelve [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2020-04
Expiry date	2022-04
Currency	USD
Disbursement		116
Borrowings		116
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Quarterly
International Commercial Loans Thirteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2011-01
Expiry date	2026-05
Currency	USD
Disbursement		8
Borrowings		3
Interest rate	Floating
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Fourteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2011-11
Expiry date	2026-05
Currency	USD
Disbursement		9
Borrowings		3
Interest rate	Floating
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Fifteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2011-11
Expiry date	2026-05
Currency	USD
Disbursement		8
Borrowings		3
Interest rate	Floating
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Sixteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2010-05
Expiry date	2030-05
Currency	USD
Disbursement		39
Borrowings		24
Interest rate	Fixed
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Seventeen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-11
Expiry date	2022-12
Currency	USD
Disbursement		5
Borrowings		2
Interest rate	Floating
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Eighteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2020-03
Expiry date	2024-08
Currency	USD
Disbursement		6
Borrowings		6
Interest rate	Floating
Amortization of the principal	Quarterly
Payment of interest	Quarterly
International Commercial Loans Nineteen [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2020-04
Expiry date	2022-12
Currency	USD
Disbursement		5
Borrowings		5
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Monthly
International Commercial Loans Twenty [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-03
Expiry date	2024-03
Currency	USD
Disbursement		106
Borrowings		17
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Twenty One [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2012-09
Expiry date	2023-09
Currency	USD
Disbursement		57
Borrowings		9
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Twenty Two [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-10
Expiry date	2025-03
Currency	USD
Disbursement		8
Borrowings		8
Interest rate	Floating
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Twenty Three [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-03
Expiry date	2024-03
Currency	USD
Disbursement		57
Borrowings		7
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Twenty Four [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2012-09
Expiry date	2023-09
Currency	USD
Disbursement		32
Borrowings		4
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Twenty Five [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2017-03
Expiry date	2024-03
Currency	USD
Disbursement		44
Borrowings		10
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Twenty Six [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2012-09
Expiry date	2023-09
Currency	USD
Disbursement		23
Borrowings		5
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Twenty Seven [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-05
Expiry date	2024-03
Currency	USD
Disbursement		11
Borrowings		11
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Twenty Eight [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-05
Expiry date	2024-03
Currency	USD
Disbursement		6
Borrowings		6
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Twenty Nine [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-09
Expiry date	2022-08
Currency	USD
Disbursement		66
Borrowings		10
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Thirty [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2016-09
Expiry date	2022-08
Currency	USD
Disbursement		12
Borrowings		4
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Thirty One [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2019-01
Expiry date	2022-12
Currency	USD
Disbursement		6
Borrowings		4
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Thirty Two [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2018-09
Expiry date	2050-06
Currency	USD
Disbursement		12
Borrowings		16
Interest rate	Fixed
Amortization of the principal	Monthly
Payment of interest	Monthly
International Commercial Loans Thirty Three [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-05
Expiry date	2025-05
Currency	USD
Disbursement		105
Borrowings		105
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International Commercial Loans Thirty Four [Member]
Conditions of the most significant debt
Company	Interconexión Eléctrica S.A.E.S.P and subsidiaries
Issue date	2021-05
Expiry date	2026-05
Currency	USD
Disbursement		70
Borrowings		70
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
Committed credit line
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2020-04
Expiry date	2023-09
Currency	USD
Disbursement		665
Borrowings		665		665
Interest rate	Floating
Amortization of the principal	Bullet
Payment of interest	Half-yearly
International commercial credits - Refineria de Cartagena Two [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2017-12
Expiry date	2027-12
Currency	USD
Disbursement		2,001
Borrowings		1,100		1,305
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International commercial credits - Refineria de Cartagena Three [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2017-12
Expiry date	2027-12
Disbursement		76
Borrowings		41		49
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International commercial credits - Refineria de Cartagena Four [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2017-12
Expiry date	2027-12
Disbursement		73
Borrowings		40		48
Interest rate	Fixed
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International commercial credits - Refineria de Cartagena Five [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2017-12
Expiry date	2027-12
Disbursement		159
Borrowings		87		103
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International commercial loans - ISA Acquisiton [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2021-08
Expiry date	2023-08
Currency	USD
Disbursement		3,672
Borrowings		1,672
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly
International commercial loans Reficar One [Member]
Conditions of the most significant debt
Company	Ecopetrol S.A.
Issue date	2017-12
Expiry date	2025-12
Disbursement		359
Borrowings		$ 224		$ 257
Interest rate	Floating
Amortization of the principal	Half-yearly
Payment of interest	Half-yearly