Ecopetrol (EC) 6-K 10 Jan 23 2022 Q3 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2022
Document and Entity Information
Document Type	6-K
Document Period End Date	Sep. 30, 2022
Entity Registrant Name	ECOPETROL S.A.
Entity Central Index Key	0001444406
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Amendment Flag	false

Interim condensed consolidated

Interim condensed consolidated statement of financial position - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 12,917,748	$ 14,549,906
Trade and other receivables	33,551,394	18,448,882
Inventories	10,783,508	8,398,212
Other financial assets	2,234,862	1,627,150
Tax assets	5,685,067	6,273,802
Other assets	2,763,568	2,333,091
Current assets subtotal	67,936,147	51,631,043
Assets held for sale	76,105	64,704
Total current assets	68,012,252	51,695,747
Non-current assets
Trade and other receivables	28,493,346	24,159,716
Other financial assets	964,556	1,307,584
Investments in associates and joint ventures	8,932,511	8,357,186
Property, plant, and equipment	96,760,471	90,076,526
Natural and environmental resources	40,965,298	35,909,844
Right-of-use-assets	605,332	496,678
Intangible assets	17,009,782	15,508,516
Tax assets	11,005,466	9,030,132
Goodwill	5,238,201	4,686,324
Other assets	1,389,227	1,198,363
Total non-current assets	211,364,190	190,730,869
Total assets	279,376,442	242,426,616
Current liabilities
Loans and borrowings	22,614,434	9,206,283
Trade and other payables	17,089,949	13,568,231
Provisions for employee benefits	2,217,195	2,296,253
Tax liabilities	6,516,616	2,152,104
Accrued liabilities and provisions	1,118,310	1,590,118
Other liabilities	1,802,381	1,409,534
Current liabilities sub total	51,358,885	30,222,523
Liabilities related to assets held for sale	29,878	26,208
Total current liabilities	51,388,763	30,248,731
Non-current liabilities
Loans and borrowings	85,125,556	85,854,645
Trade and other payables	63,532	70,607
Provisions for employee benefits	11,023,095	9,082,792
Tax liabilities	13,982,876	12,124,520
Accrued liabilities and provisions	12,929,004	12,642,089
Other liabilities	2,173,819	1,819,460
Total non-current liabilities	125,297,882	121,594,113
Total liabilities	176,686,645	151,842,844
Equity
Subscribed and paid in capital	25,040,067	25,040,067
Additional paid-in capital	6,607,699	6,607,699
Reserves	8,898,633	10,624,229
Other comprehensive income	13,534,455	11,357,894
Retained earnings	22,977,937	14,859,658
Equity attributable to the Company's shareholders	77,058,791	68,489,547
Non-controlling interest	25,631,006	22,094,225
Total equity	102,689,797	90,583,772
Total liabilities and equity	$ 279,376,442	$ 242,426,616

Interim condensed consolidate_2

Interim condensed consolidated statement of profit or loss - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Interim condensed consolidated statement of profit or loss
Revenue from contracts with customers	$ 119,898,794	$ 60,085,808
Cost of sales	(65,458,241)	(36,449,442)
Gross profit	54,440,553	23,636,366
Administration expenses	(2,844,627)	(1,934,557)
Operation and project expenses	(2,833,523)	(1,993,083)
Impairment (loss) reversal of non-current assets	(5,516)	1,763
Other operating expenses	(302,671)	(435,557)
Operating income	48,454,216	19,274,932
Financial results
Financial income	887,398	242,763
Financial expenses	(5,875,877)	(2,774,295)
Foreign exchange (loss) gain	(377,527)	351,341
Financial result	(5,366,006)	(2,180,191)
Share of profits of associates and joint ventures	656,680	225,914
Profit before income tax expense	43,744,890	17,320,655
Income tax expense	(16,214,065)	(6,045,669)
Net profit for the period	27,530,825	11,274,986
Net profit attributable to:
Owners of parent	24,770,909	10,217,081
Non-controlling interest	2,759,916	1,057,905
Net profit	$ 27,530,825	$ 11,274,986
Basic earnings per share (Colombian pesos)	$ 602.5	$ 248.5
Diluted earnings per share (Colombian pesos)	$ 602.5	$ 248.5

Interim condensed consolidate_3

Interim condensed consolidated statement of comprehensive income - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Interim condensed consolidated statement of comprehensive income
Net profit for the period	$ 27,530,825	$ 11,274,986
Unrealized (loss) gain on hedges:
Cash flow hedge for future exports	(1,594,964)	(203,504)
Hedge of a net investment in a foreign operation	(3,643,730)	(1,956,114)
Cash flow hedge with derivative instruments	41,885	(116,834)
Equity instruments measured at fair value:
Financial instruments measured at fair value	(1,478)	(62)
Foreign currency translation	10,991,556	3,554,790
Realized other comprehensive income for joint venture sales		(361,728)
Items that may be reclassified subsequently to profit or loss (net of tax):	5,793,269	916,548
Items that will not be reclassified to profit or loss in subsequent periods (net of taxes):
Remeasurement loss on defined benefit plans	(1,040,172)	(269,207)
Other comprehensive income that will not to be reclassified to profit or loss in subsequent periods -net of taxes	(1,040,172)	(269,207)
Other comprehensive income, net of tax	4,753,097	647,341
Total comprehensive income, net of tax	32,283,922	11,922,327
Comprehensive income attributable to:
Owners of the parent	26,947,470	11,270,715
Non-controlling interest	5,336,452	651,612
Total comprehensive income, net of tax	$ 32,283,922	$ 11,922,327

Interim condensed consolidate_4

Interim condensed consolidated statement of changes in equity - COP ($) $ in Millions	Subscribed and paid-in capital After adoption of new standards IFRS	Subscribed and paid-in capital	Additional paid-in capital After adoption of new standards IFRS	Additional paid-in capital	Reserves After adoption of new standards IFRS	Reserves	Other comprehensive income After adoption of new standards IFRS	Other comprehensive income	Retained earnings Adoption of new standards	Retained earnings After adoption of new standards IFRS	Retained earnings	Total Adoption of new standards	Total After adoption of new standards IFRS	Total	Non-controlling interest After adoption of new standards IFRS	Non-controlling interest	Adoption of new standards	After adoption of new standards IFRS	Total
Opening 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											10,217,081			10,217,081		1,057,905			11,274,986
Release of reserves						(5,066,156)					5,066,156
Dividends declared											(698,984)			(698,984)		(879,995)			(1,578,979)
Business combination																27,258,943			27,258,943
Change in participation in subsidiaries											2,755			2,755		(11,106)			(8,351)
Equity restitution																(14,823)			(14,823)
Appropriation of reserves, Legal						168,808					(168,808)
Appropriation of reserves ,Fiscal and statutory						509,082					(509,082)
Appropriation of reserves , Occasional						5,377,359					(5,377,359)
(Loss) gain on hedging instruments:
Cash flow hedge for future exports								(203,504)						(203,504)					(203,504)
Hedge of a net investment in a foreign operation								(1,956,114)						(1,956,114)					(1,956,114)
Cash flow hedge with derivative instruments								(91,495)						(91,495)		(25,339)			(116,834)
Financial instruments measured at fair value								(32)						(32)		(30)			(62)
Foreign currency translation								3,935,716						3,935,716		(380,926)			3,554,790
Sale of joint ventures								(361,728)						(361,728)					(361,728)
Remeasurement loss on defined benefit plans								(269,207)						(269,207)					(269,207)
Closing balance at Sep. 30, 2021		25,040,067		6,607,699		10,624,229		9,000,698			9,201,659			60,474,352		30,604,128			91,078,480
Opening balance (Before adoption of new standards IFRS) 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
Opening balance at Dec. 31, 2021	$ 25,040,067		$ 6,607,699		$ 10,624,229		$ 11,357,894		$ 42,054	$ 14,901,712		$ 42,054	$ 68,531,601		$ 22,094,225		$ 42,054	$ 90,625,826	90,583,772
Net profit											24,770,909			24,770,909		2,759,916			27,530,825
Release of reserves						(5,886,441)					5,886,441
Dividends declared						(6,907,605)					(11,512,675)			(18,420,280)		(1,476,010)			(19,896,290)
Business combination																(238,839)			(238,839)
Equity restitution																(84,822)			(84,822)
Appropriation of reserves, Legal						1,669,468					(1,669,468)
Appropriation of reserves ,Fiscal and statutory						509,082					(509,082)
Appropriation of reserves , Occasional						8,889,900					(8,889,900)
(Loss) gain on hedging instruments:
Cash flow hedge for future exports								(1,594,964)						(1,594,964)					(1,594,964)
Hedge of a net investment in a foreign operation								(3,555,396)						(3,555,396)		(88,334)			(3,643,730)
Cash flow hedge with derivative instruments								40,815						40,815		1,070			41,885
Financial instruments measured at fair value								(1,409)						(1,409)		(69)			(1,478)
Foreign currency translation								8,325,557						8,325,557		2,665,999			10,991,556
Remeasurement loss on defined benefit plans								(1,038,042)						(1,038,042)		(2,130)			(1,040,172)
Closing balance at Sep. 30, 2022		$ 25,040,067		$ 6,607,699		$ 8,898,633		$ 13,534,455			$ 22,977,937			$ 77,058,791		$ 25,631,006			$ 102,689,797

Interim condensed consolidate_5

Interim condensed consolidated statement of cash flows - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows provided by operating activities:
Net profit for the period	$ 27,530,825	$ 11,274,986
Adjustments to reconcile net income to net cash provided by operating activities:
Income tax expense	16,214,065	6,045,669
Depreciation, depletion, and amortization	8,756,826	7,384,180
Foreign exchange loss	377,527	10,387
Gain on realization of other comprehensive income from the sale of a joint venture	0	(361,728)
Finance cost of loans and borrowings	3,886,375	1,867,718
Finance cost of post-employment benefits and abandonment costs	1,559,080	698,534
Write off exploratory assets and dry wells	436,980	349,941
Loss on sale or disposal of non-current assets	299,059	54,419
Impairment loss (reversal) of non-current assets	5,516	(1,763)
Impairment of current assets	46,434	18,795
(Gain) loss on fair value adjustment of financial assets	(179,547)	38,448
Loss (gain) on hedging transactions with derivatives	32,037	(406)
Share of profit of associates and joint ventures	(656,680)	(225,914)
Gain on disposal of assets held for sale	(266,339)	(6,733)
(Gain) loss on hedge ineffectiveness	(949)	10,226
Realized loss on foreign exchange cash flow hedges	576,875	151,791
Net change in operational assets and liabilities:
Trade and other receivables	(21,799,875)	(7,720,455)
Inventories	(1,883,511)	(3,730,971)
Trade and other payables	(526,781)	2,177,359
Tax assets and liabilities	(1,675,196)	(1,900,606)
Provisions for employee benefits	(244,825)	(287,854)
Provisions and contingencies	(216,504)	(56,915)
Other assets and liabilities	(389,978)	179,758
Cash flows from (used in) operations	31,881,414	15,968,866
Income tax paid	(7,006,077)	(4,442,248)
Net cash provided by operating activities	24,875,337	11,526,618
Cash flow from investing activities:
Investment in joint ventures	(209,658)	(16,271)
Acquisition of subsidiaries, net of cash acquired	0	(9,316,465)
Investment in property, plant, and equipment	(5,259,905)	(3,982,845)
Investment in natural and environmental resources	(7,472,555)	(4,562,238)
Acquisitions of intangibles	(701,997)	(207,732)
Proceeds from the sale of other financial assets	393,099	1,154,610
Interests received	612,914	130,398
Dividends received	1,179,338	94,655
Proceeds from sales of non-current assets	402,373	7,480
Net cash used in investment activities	(11,056,391)	(16,698,408)
Cash flow used in financing activities:
Proceeds obtained from loans and borrowings	10,458,560	14,404,438
Repayment of loans and borrowings	(11,614,789)	(913,016)
Interest payments	(3,648,611)	(1,819,581)
Lease payments	(311,696)	(230,608)
Payment of restitution of equity to minority shareholders	(14,825)	0
Dividends paid	(11,186,951)	(1,424,456)
Net cash (used in) provided by financing activities	(16,318,312)	10,016,777
Exchange difference in cash and cash equivalents	867,208	159,492
Net (decrease) increase in cash and cash equivalents	(1,632,158)	5,004,479
Cash and cash equivalent at the beginning of the period	14,549,906	5,082,308
Cash and cash equivalent at the end of the period	$ 12,917,748	$ 10,086,787

Reporting entity

Reporting entity	9 Months Ended
	Sep. 30, 2022
Reporting entity
Reporting entity	1. Reporting entity Ecopetrol S.A. is a mixed economy company, with a commercial nature, formed in 1948 in Bogotá – Colombia, headquarters of the Ecopetrol Business Group (collectively called “Ecopetrol Business Group”); which is dedicated to commercial or industrial activities related to the exploration, exploitation, refining, transportation, storage, distribution and marketing of hydrocarbons, their derivatives and products, as well as the electric power transmission services, design, development, construction, operation and maintenance of road and energy infrastructure projects and the provision of information technology and telecommunications services. An 11.51% of Ecopetrol S.A.’s shares are publicly traded on the Stock Exchanges of Colombia and New York, USA. The remaining shares (88.49% of the total outstanding shares) are owned by the Colombian Ministry of Finance and Public Credit. The address of the main office of Ecopetrol S.A. is Bogotá – Colombia, Carrera 13 No. 36 – 24.

Basis of presentation

Basis of presentation	9 Months Ended
	Sep. 30, 2022
Basis of presentation
Basis of presentation	2. Basis of presentation 2.1. Statement of compliance and authorization of financial statements The financial information contained in this report has been prepared in accordance with IAS 34 Interim Financial Reporting. The interim condensed consolidated financial statements are unaudited and in the management opinion, include all necessary adjustments for a fair presentation of the results of each period. All such adjustments are of a normal recurring nature. This report should be read in conjunction with the consolidated financial statements and notes for the year ended 31 December 2021 included in Form 20-F 2021. Ecopetrol Business Group prepares its consolidated financial statements included within Form 20-F based on International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The financial information presented herein has been prepared in accordance with the accounting policies expected to be used in Form 20-F 2022 which are the same as those used in the previous year. These interim condensed consolidated financial statements were approved by the Company's Management on December 16, 2022. 2.2. The interim condensed consolidated financial statements were prepared by consolidating all the subsidiary companies described in Exhibits 1 and 2, in which Ecopetrol exercises, directly or indirectly, control. Control is achieved when the Ecopetrol Business Group: - Has power over the company (existing rights that give it the power to direct the relevant activities) - It is exposed to, or has rights to, variable returns from its relationship with the company and - Has the ability to use his power to affect his operating results. This occurs when the Company has less than most of the voting rights of an investee, and still has power over the investee to give it the practical ability to direct the relevant activities of the company unilaterally. The Ecopetrol Business Group considers all relevant facts and circumstances when evaluating whether the voting rights in an investee are sufficient to give it power, including: a) The percentage of voting rights of the Company relative to the size and dispersion of the percentages of other voting holders b) Potential voting rights held by the Company, other shareholders, or other parties c) Rights derived from contractual agreements and d) Any additional facts or circumstances that indicate that the Company 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 in previous shareholders' meetings. Subsidiaries are consolidated from the date control is obtained until the date control ceases. All intercompany assets and liabilities, equity, income, expenses, and cash flows related to transactions between Group companies were eliminated in consolidation. Unrealized profits and losses are also eliminated. Non-controlling interest represents the portion of profit, other comprehensive income and net assets in subsidiaries that are not attributable to Ecopetrol shareholders. All business combinations are recognized using the acquisition method. Acquisition of Interconexión Eléctrica S.A. E.S.P. 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 Business Group´s controlling shareholders the transaction was between entities under common control. The accounting for transactions under common control are not provided for in IFRS, therefore, the Ecopetrol Business Group evaluated the purpose of the transaction and concluded that since the transaction was not a mere corporate reorganization, had a commercial substance, was carried out at market conditions and settled in cash, it elected to recorded the transaction as a business combination pursuant to IFRS 3, Business Combinations. During August 2022, the final purchase price allocation was completed, considering the new information obtained to the acquisition date. An update was made to the fair values calculated preliminarily as of December 31, 2021, of property, plant, and equipment, intangibles, deferred tax, goodwill, and the non-controlling interest of Interconexión Eléctrica S.A. E.S.P. (See Note 12 – Business combination). Additionally, on July 12, 2022, the liquidation of Gasoducto de Oriente S.A. was registered in the Bogotá Chamber of Commerce, which is subsidiary of Inversiones de Gases de Colombia S.A. 2.3. Conflict between Russia and Ukraine After weeks of heightened tensions between Russia and Ukraine, 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 raw materials to rise due to supply risk. Ecopetrol's ability to access international and local capital markets, finance operations and potentially refinance debt maturities on terms acceptable to Ecopetrol could be affected due to price volatility in the oil and gas sector, the escalation military conflict between Ukraine and Russia, disruptions to Russia's energy exports as a result of sanctions, impacts to the global economy due to energy supply shocks, potential demand impacts from lockdowns or outbreaks of COVID-19, the lack of consensus among OPEC members, politics and uncertainty in the region, among others. Likewise, the current situation of international crude oil prices (average price for the third quarter of 2022 of 97.7 USD/Bl of Brent) is being driven mainly by Russia's invasion of Ukrainian territory and the market expectations related to a possible global deacceleration. Although high prices have favored the Company's income, they have also generated challenges in terms of inflation, high energy costs added to the international logistics crisis, which are beginning to generate pressure on operating costs and project execution times. Ecopetrol continues to permanently monitor the direct and indirect impacts to take actions to mitigate their effect. 2.4. Considerations on climate change and energy transition On February 8, 2022, Ecopetrol communicated to the market its 2040 long-term strategy, called "Energy that Transforms", which comprehensively responds to current environmental, social and governance challenges, maintaining the focus on generating sustainable value for all your interest groups. Its objective is to consolidate an agile and dynamic organization that adapts in a timely manner to the changes facing the energy industry, the challenges of a world that advances in the generation and use of clean energy, traveling a path of opportunities for growth and leadership in the Americas. “Energy that Transforms” positions Ecopetrol as an integrated energy group, which participates in all the links of the hydrocarbon chain and in linear infrastructure, both in energy transmission and road concessions, and hopes to continue diversifying into businesses that allow it to continue to reduce its carbon footprint and advance in meeting its goal of being a company with zero net carbon emissions by 2050 (scopes 1 and 2). The strategy is supported by four strategic pillars: (i) Grow with the Energy Transition, (ii) Generate Value with Sustainability, (iii) Cutting-Edge Knowledge and (iv) Competitive Returns. Within the first three pillars described in the strategy, the following actions associated with the energy transition and climate change were included: Grow with the energy transition - On average, between USD $5,200 and USD $6,000 million will be invested annually by 2040. Between 2022 and 2024, organic investments will range between USD $17,000 and USD $20,000 million. In line with international best practices, the valuations of these investments in exploration and production projects incorporate a cost of greenhouse gas emissions under the internal CO2 price methodology, with a price curve that starts at $20 USD/ TonCO2e today and amounts to $40 USD/TonCO2e by 2030. - Gas, as a fundamental source of energy in the energy transition, the 2022-2024 Plan includes investments in projects for more than USD $1,800 million. In the long term, it is expected to grow in its own production, seek new marketing options and venture into regasification and storage. - Investments will be made for USD $2,600 million (15% of the total investments of the Business Group), mainly concentrated in Brazil (42%) and Colombia (25%), in addition to Peru and Chile. In this way, the continuity of ISA's 2030 Strategic Plan is guaranteed. This is how diversification towards low-emission businesses in the long term contemplates: (i) between 2019 and 2030, investment of USD $8.3 billion in current businesses and geographies and USD $2.2 billion in new geographies and (ii) achieving a participation of non-conventional renewable energies between 25% and 40% in the self-generation matrix by 2040. The foregoing will be supported by, in addition to ISA, the gradual foray into emerging businesses aligned with new global trends, to mitigate the effects of climate change, such as the production of low-carbon hydrogen as an energy source, the capture, use and storage of (CCUS) and Natural Climate Solutions (NCS). Over the next three years, more than USD $200 million will be invested in green hydrogen projects in the Cartagena and Barrancabermeja refineries, and in CO2 capture projects through emerging technologies such as CCUS and SNC projects. Generate value with sosTECnibilidad (sustainability + technology) The 2022 - 2024 Plan (without ISA) includes investments of more than USD $1,400 million in projects for circular water management, decarbonization, energy efficiency, use of energy and alternative sources, improvement in the quality of fuels, and studies and pilots of green and blue hydrogen for applications in refineries and mobility. In this sense, the Plan has a clear focus on supporting the energy transition strategy, including the incorporation of renewable energy sources for self-consumption, taking advantage of wind, solar and geothermal energy technologies, strengthening socio-environmental investment programs, deepening digital transformation and acceleration of the development and implementation of technologies to optimize operations throughout the chain. The Business Group will increase its self-generation capacity with renewable energies in a range between 400 - 450 MW. On the other hand, the long-term objectives include for environmental matters, achieve (i) a 25% reduction in GHG emissions by 2030 compared to 2019 (scopes 1 and 2), (ii) zero emissions CO2 equivalent emissions by 2050 (scopes 1 and 2), (iii) zero routine gas burning by 2030, (vi) zero water discharges by 2045 together with a reduction between 58% and 66% of freshwater intake for the operations. In terms of social component, it is expected to promote the generation of about 230,000 new non-oil jobs by 2040 and contribute to the education of 2 million young colombians. As a sign of this commitment, the Business Group will seek to continue improving its position among public companies globally within the Dow Jones Sustainability Index. Cutting edge knowledge This pillar seeks to develop the necessary capacities for sosTECnibilidad (sustainability + technology), through a comprehensive science, technology, and innovation (CT+i) strategy to contribute to diversification, increase clean energy, decarbonize operations, and enhance human talent. As part of the goals of the 2022-2024 Plan, more than USD $240 million will be allocated to innovation, technology, and digital transformation projects, which include technologies for the management of produced water as a profitable and sustainable resource and a study for the capture of CO2 in natural sinks.

Significant accounting judgment

Significant accounting judgments and estimates	9 Months Ended
	Sep. 30, 2022
Significant accounting judgments and estimates
Significant accounting judgments and estimates	3. Significant accounting judgments and estimates The preparation of the consolidated financial statements requires that the Company's Management make judgments, estimates and assumptions to quantify some of the assets, liabilities, income, expenses, and commitments recognized in the consolidated financial statements and their disclosures. These estimates have been made based on the best information available on the facts analyzed, management experience and other factors at the date of preparation of the financial statements. Uncertainty about assumptions and estimates could result in future material changes affecting the value of assets or liabilities. Changes in these estimates are recognized prospectively in the period in which they are reviewed. As of the date of this report, there have been no changes in the significant accounting estimates and judgments used in the preparation of the consolidated financial statements as of December 31, 2021.

Accounting policies

Accounting policies	9 Months Ended
	Sep. 30, 2022
Accounting policies
Accounting policies	4. Accounting policies The Group’s main accounting policies are described in the consolidated financial statements as of December 31, 2021, and for the year then ended, and they have been applied consistently for the period comprising these interim condensed consolidated financial statements, except for the adoption of new standards effective as of January 1, 2022. The interim condensed consolidated financial statements do not include all the information and disclosures required in the annuals, and therefore should be read in conjunction with the consolidated financial statements as of December 31, 2021.

New standards

New standards	9 Months Ended
	Sep. 30, 2022
New standards
New standards	5. New standards 5.1. New standards adopted by the Group, effective as of January 1, 2022 The Company applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after January 1, 2022. It has not early adopted any other standards, interpretations or amendments that have been issued and not yet effective as of the date of this report: ● IAS 16 – Property, plant, and equipment: amendment that expresses the prohibition of deducting from the cost of property, plant, and equipment the value of sales of items produced, while the company prepares the asset for its intended use. As of January 1, 2022, Ecopetrol adopted for the first time the Amendment IAS 16 "Property, Plant and Equipment - Proceeds before intended use" in a mandatory manner, the nature and effects of these changes are mentioned below: In May 2020, the International Accounting Standards Committee - IASB issued amendments to IAS 16 - Property, Plant and Equipment referring to the part of proceeds before intended use, in terms of: o The sales obtained from the elements produced during the installation and start-up process of the asset, that is, products obtained in the project stage or extensive tests, are recognized in the results of the period as ordinary income. o The costs associated with the production of products obtained in the project stage or extensive tests sold according to IAS 2 are also recognized in the result of the period. o The value of the income and costs related to the sale of products obtained in the project stage or extensive tests is disclosed in the notes to the consolidated financial statements, detailing in which items of the Financial Statement they are included. The amendment was effective for the annual reporting periods from January 1, 2022, and its application accepted in Colombia by Decree 938 issued on August 19, 2021, by the Ministry of Industry and Tourism, without generating differences with what given by the IASB for full IFRS. In the oil sector, this amendment has effects on the treatment of the sale to third parties of extensive oil field tests, which are sales of crude oil or gas from a well under development before entering the market in full production. Retroactive application was only made for property, plant and equipment or natural and environmental resources that were in the construction stage at the beginning of the first period presented in the consolidated financial statements in which the Ecopetrol Business Group adopted the standard, that is, on January 1, 2021. The impact of the adoption of this standard was as follows: o An increase of $ 48,173 (See Note 15) and $ 18,013 (See Note 14) in the Exploration and evaluation account within Natural and environmental resources and property, plant and equipment balance sheet line items, respectively, with a corresponding decrease retained earnings. o An effect of $ 24,132 due to the reversal of the deferred tax liability arising from the temporary difference between the tax basis and accounting basis prior to the adoption of the amendment and a corresponding effect in retained earnings. ● 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. This amendment had no impact on the interim condensed consolidated financial statements of the Group. ● IAS 37 – Provisions, contingent assets, and liabilities: in which it details what costs an entity must include when determining whether a contract is onerous. The amendments state that a directly related cost approach should be applied. Costs that relate directly to a contract to provide goods or services include both incremental costs and an allocation of costs directly related 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. This amendment had no impact on the interim condensed consolidated financial statements of the Group. ● Cycle of annual improvements 2018 – 2020 involving adjustments to IFRS 1 - subsidiary as first-time adopter, IAS 41 - taxes on fair value measurements, IFRS 16 - lease incentives and IFRS 9 - charges in the 10% test for the derecognition of financial liabilities, which clarifies the charges that an entity includes when evaluating whether the terms of a new or modified financial liability are materially different from the terms of the original financial liability. This amendment had no impact on the interim condensed consolidated financial statements of the Group. 5.2. New standards issued but not yet effective The IASB issued amendments to the following standards, with an effective date on January 1, 2023, or later periods: ● Amendment to IAS 1 - Classifications of liabilities as current or non-current, modifies the requirement to classify a liability as current, by establishing that a liability is classified as current when it does not have the right at the end of the reporting period to defer the liquidation of the liability during, at least, the twelve months following the date of the reporting period. This amendment will be effective as of January 1, 2023. ● Amendments to IAS 1 – Presentation of financial statements. Companies must disclose material information about their accounting policies and apply the concept of materiality to accounting policy disclosures. The amendments clarify the following points: - The word “significant” is changed to “material or relative importance”. - 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 relative importance accounting policies." - It is clarified when an accounting policy is considered material or relatively important. - Adds the following paragraph: “Information on 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 doubles or summarizes the requirements of IFRS standards”. ● Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors. They clarify how companies should distinguish changes in accounting policies from changes in accounting estimates. The amendment was published by the IASB in February 2021 and clearly 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”. The amendments are effective for the annual periods beginning on January 1, 2023. ● 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 diversity in the reporting of deferred taxes on leases and decommissioning obligations. The amendments are effective for annual periods beginning on 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 by means of a decree to date and it has not been included in the public discussion process initiated by the Technical Council of Public Accounting, nor in the draft decree of the Ministry of Commerce, Industry and Tourism generated in May 2022.

Cash and cash equivalents

Cash and cash equivalents	9 Months Ended
	Sep. 30, 2022
Cash and cash equivalents.
Cash and cash equivalents	6. Cash and cash equivalents ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Banks and corporations 8,976,534 11,080,569 Short–term investments 3,939,317 3,467,859 Cash 1,897 1,478 ​ 12,917,748 14,549,906 ​ As of September 30, 2022, the balance of cash and cash equivalents includes $55,164 ($71,979 December 31, 2021) of restricted cash to be used in the next 12 months exclusively for the payment of principal and interest on loans obtained by Oleoducto Bicentenario and $1,414,522 ($1,039,024 December 31, 2021), based on the financing contracts and held, mainly, to guarantee the debt service of Interconexión Eléctrica S.A. E.S.P. The fair value of cash and equivalents is close to its book value due to its 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.

Trade and other receivables

Trade and other receivables	9 Months Ended
	Sep. 30, 2022
Trade and other receivables
Trade and other receivables	7. Trade and other receivables ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Current ​ Customers Foreign 4,037,880 3,222,837 Domestic 3,409,558 2,917,305 Concessions (1) ​ 4,361,181 ​ 3,370,644 Fuel Price stabilization fund (2) 20,443,367 7,824,788 Accounts receivable from employees 104,610 106,547 Industrial services 53,666 32,096 Related parties (Note 31) ​ 179,948 ​ 9,355 Other 961,184 965,310 ​ 33,551,394 18,448,882 Non–current Customers ​ ​ ​ ​ Foreign ​ 144,481 ​ 36,965 Domestic ​ 54,051 ​ 178,552 Concessions (1) ​ 25,215,126 ​ 21,259,519 Accounts receivable from employees 545,168 534,051 Related parties (Note 31) ​ 335 ​ 335 Other (3) 2,534,185 2,150,294 ​ 28,493,346 24,159,716 (1) Includes electric power transportation concessions and roads. (2) Corresponds to the application of Resolution 180522 of March 29, 2010, and other regulations that modify and add it (Decree 1880 of 2014 and Decree 1068 of 2015), which establishes the procedure to recognize the subsidy for refiners and importers of motor gasoline current and ACPM, and the methodology for calculating the net position (value generated between the parity price and the regulated price, which can be positive or negative). For 2022, the increase in accounts receivable is due to the increase in international indicators (brent reference price). During the period, the Ministry of Finance and Public Credit contributed approximately $7,461,088 in cash and $6,788,385 were offset from the Nation’s dividends provided by Ecopetrol’s earnings in 2021, which were declared in 2022. In accordance with what was expressed by the Ministry of Finance and Public Credit, the portion of the extraordinary dividend corresponding to the Nation was offset with the Stabilization Fund and, therefore, did not imply a cash outflow. (3) Corresponds mainly to accounts receivable from the Government of Brazil for employee benefits governed by Law 4819 of 1958 to ISA CTEEP, and crude loan agreements of the Business Group for transportation systems. The gross value of these accounts receivable is $2,202,739 (2021: $1,772,101 ) and the provision for expected losses established, included in the provision line for expected credit losses, is $432,750 (2021: $368,299 ), for a net book value of $1,769,989 (2021: $1,403,802 ). The administration monitors the progress and developments related to the legal aspect of the matter and continuously evaluates the possible impacts on its financial statements. The book value of trade accounts and other accounts receivable approximates their fair value.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2022
Inventories
Inventories	8 . Inventories ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Crude oil (1) 4,184,242 3,305,965 Fuels and petrochemicals (2) 3,933,294 2,845,486 Materials for goods production 2,665,972 2,246,761 ​ 10,783,508 8,398,212 (1) The variation is mainly due to the increase in Brent prices. (2) The variation is mainly due to the increase of the international references prices and the receipt of fuel imports to accomplish with the national demand for fuels.

Other financial assets

Other financial assets	9 Months Ended
	Sep. 30, 2022
Other financial assets
Other financial assets	9 . Other financial assets ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Assets measured at fair value Investment portfolio – Foreign currency 1,422,282 1,172,718 Investments in equity securities (1) 1,034,997 606,624 Investment portfolio – Local currency 382,670 ​ 759,892 Hedging instruments (2) 235,807 17,449 Assets measured at fair value through other comprehensive income ​ 2,627 ​ 2,789 ​ ​ 3,078,383 ​ 2,559,472 Assets measured at amortized cost (3) ​ 121,035 ​ 375,262 ​ 3,199,418 2,934,734 Current 2,234,862 1,627,150 Non–current 964,556 1,307,584 ​ 3,199,418 2,934,734 (1) Includes deposits in trust companies and restricted funds in Brazil, Peru, Chile, and Colombia. (2) Corresponds to swap contracts and a put option to hedge commodity price risk and forwards to hedge exchange rate risk. (3) Includes investments with maturities greater than 90 days, in Chile and Colombia. Fair value The following is the classification of other financial assets recognized at fair value, corresponding to the investment portfolio: ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Level 1 1,446,757 834,057 Level 2 1,631,626 1,725,415 ​ 3,078,383 2,559,472 ​ There were no transfers between hierarchy levels during the periods.

Taxes

Taxes	9 Months Ended
	Sep. 30, 2022
Taxes
Taxes	10. Taxes Income taxes The Group calculates the income tax expense using the tax rate that would be applicable to the expected total annual earnings. The major components of income tax expense in the interim consolidated statement of profit or loss are: ​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended ​ ​ September 30, ​ 2022 2021 ​ ​ (Unaudited) Current income tax expense 13,586,947 4,246,737 Deferred income tax expense 2,613,356 1,817,892 Adjustments to prior years’ current and deferred tax 13,762 (18,960) Income tax expense 16,214,065 6,045,669 ​ The effective tax rate was 37.1% and 34.9% for nine-month period ended September 30, 2022, and 2021, respectively. The 2.2% increase in the effective tax rate during the nine months ended on September 30, 2022, compared to the 2021 period, are mainly to the change in the bylaw tax rate (35% for 2022 vs. 31% for 2021), to the increase in the expected exchange rate, to the better results obtained by the companies that pay taxes at a nominal income rate different from 35%, particularly, Refinería de Cartagena (income tax rate of 15%), and the better results obtained during the period from January to September at Ecopetrol S.A. ​ The better results in the Ecopetrol Business Group are mainly due to the growth in operations, considering: i) an increase of 54% or +US$35.2 per barrel in the average price of crude oil, natural gas and refined products, ii) a positive effect on revenues given the devaluation of the Colombia Peso against the dollar, iii) a higher sales volumes (+110 kBde) and, iv) an increase in revenues from services, better performance of the transportation and logistics services segment, associated with the increase in the volume transported due to the greater availability of crude oil produced in the country, and the reactivation of the national demand for products and gas.

Other assets

Other assets	9 Months Ended
	Sep. 30, 2022
Other assets
Other assets	11. Other assets ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Current Prepaid expenses ​ 814,709 ​ 549,456 Partners in joint operations 762,155 639,199 Advanced payments to contractors and suppliers 705,451 591,990 Trust funds 455,889 527,520 Related parties (Note 31) 889 1,386 Other 24,475 23,540 ​ 2,763,568 2,333,091 Non–current ​ ​ Wells abandonment and pension funds 563,552 461,729 Trust funds 236,449 176,781 Employee benefits 273,142 229,969 Advanced payments and deposits 97,022 92,815 Judicial deposits and judicial attachments 52,816 48,845 Other 166,246 188,224 ​ 1,389,227 1,198,363 ​

Investments in associates and j

Investments in associates and joint ventures	9 Months Ended
	Sep. 30, 2022
Investments in associates and joint ventures
Investments in associates and joint ventures	13. Investments in associates and joint ventures 13.1 . ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ (Unaudited) Join ventures ​ ​ ​ ​ Equion Energía Limited 1,104,034 1,860,634 Interligação Elétrica do Madeira S.A. ​ 1,771,903 ​ 1,374,483 Transmissora Aliança de Energia Elétrica S.A. ​ 1,745,002 ​ 1,496,060 Interligação Elétrica Paraguaçu S.A. ​ 569,717 ​ 412,526 Interligação Elétrica Ivaí S.A. ​ 417,904 ​ 288,224 Interligação Elétrica Garanhuns S.A. ​ 501,036 ​ 363,498 Interligação Elétrica Aimorés S.A. ​ 383,533 ​ 278,408 Conexión Kimal Lo Aguirre S.A. (1) ​ 119,475 ​ — Ecodiesel Colombia S.A. ​ 61,936 ​ 64,019 Interconexión Eléctrica Colombia Panamá S.A. ​ 17,608 ​ 8,737 Transnexa S.A. E.M.A. ​ 8,545 ​ 8,545 Derivex S.A. ​ 179 ​ 448 Parques de Rio ​ 85 ​ 93 Interconexión Eléctrica Colombia Panamá S.A.S E.S.P. ​ 4 ​ 4 ​ 6,700,961 6,155,679 Less impairment: Equion Energía Limited (398,104) (398,104) Transnexa S.A. E.M.A. (8,545) (8,545) ​ 6,294,312 5,749,030 Associates ​ Gases del Caribe S.A. E.S.P. 1,466,842 1,515,838 ATP Tower Holdings 893,993 813,697 Gas Natural del Oriente S.A. E.S.P. 143,584 142,508 Gases de la Guajira S.A. E.S.P. ​ 68,490 ​ 69,461 E2 Energía Eficiente S.A. E.S.P. ​ 34,755 ​ 35,062 Extrucol S.A. ​ 27,911 ​ 28,578 Serviport S.A. ​ 8,398 ​ 9,399 Sociedad Portuaria Olefinas ​ 3,625 ​ 3,012 ​ 2,647,598 2,617,555 Less impairment: Serviport S.A. (9,399) (9,399) ​ 2,638,199 2,608,156 ​ 8,932,511 8,357,186 (1) In July 2022, ISA Inversiones Chile, Transelec, and China Southern Power Grid International (CSG) established the company Conexión Kimal Lo Aguirre S.A. This company will build and operate the Kimal-Lo Aguirre project in Chile obtained in 2021. ​ The movement of investments in associates and joint ventures for the period ended September 30, 2022, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Associates Join ventures Total Balance as of December 31, 2021 2,608,156 5,749,030 8,357,186 Capitalizations (1) ​ — ​ 209,658 ​ 209,658 Equity method recognized in: ​ ​ ​ ​ ​ ​ Profit or loss 117,635 539,045 656,680 Equity ​ 103,059 ​ 913,159 ​ 1,016,218 Dividends declared (2) (190,651) (1,116,580) (1,307,231) Balance as of September 30, 2022 (Unaudited) 2,638,199 6,294,312 8,932,511 ​ (1) The capitalizations correspond to $119,475 for Conexión Kimal Lo Aguirre S.A., $41,912 for Interligação Elétrica Ivaí S.A., $27,662 for Interligação Elétrica Paraguaçu S.A., $11,807 for Interconexión Eléctrica Colombia Panamá S.A., and $8,802 for Interligação Elétrica Aimorés S.A. (2) During 2022, the company received dividends corresponding to $1,179,338 . The payment of dividends was mainly made by Equion Energía Limited for $929,265 , join ventures of Interconexión Eléctrica S.A. E.S.P. for $159,315 , and associates of Inversiones de Gases de Colombia S.A. for $90,758 .

Property, plant, and equipment

Property, plant, and equipment	9 Months Ended
	Sep. 30, 2022
Property, plant, and equipment
Property, plant, and equipment	14. Property, plant, and equipment The movement of property, plant and equipment for the period ended September 30, 2022, with its corresponding depreciation and impairment, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pipelines, ​ ​ ​ ​ ​ ​ ​ Plant and ​ networks, and ​ Work in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ equipment ​ lines ​ progress ​ Buildings ​ Lands ​ Other ​ Total Cost 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 Additions/capitalizations (1) 1,634,109 858,368 2,399,373 267,638 3,021 97,396 5,259,905 Abandonment cost update (Note 23) ​ — ​ (137,525) ​ — ​ — ​ — ​ — ​ (137,525) Capitalized financial interests (2) ​ 47,256 ​ 17,463 ​ 57,034 ​ 5,580 ​ 115 ​ 1,602 ​ 129,050 Exchange differences capitalized 413 153 499 49 1 14 1,129 Disposals ​ (472,252) ​ (175,679) ​ (10,461) ​ (39,234) ​ (30) ​ (29,227) ​ (726,883) (Decrease) increase related to business combination (Note 12) ​ — ​ (176,451) ​ — ​ 37,542 ​ (14,649) ​ — ​ (153,558) Effect of adopting new standards (3) ​ — ​ — ​ 18,013 ​ — ​ — ​ — ​ 18,013 Foreign currency translation 5,328,047 2,639,349 251,649 408,531 288,802 160,860 9,077,238 Reclassifications/transfers (3,725,364) 722,699 (794,664) 3,275,900 (4,872) (35,389) (561,690) Balance as of September 30, 2022 (Unaudited) ​ 60,265,052 ​ 59,151,010 ​ 12,487,557 ​ 13,616,233 ​ 5,072,685 ​ 3,213,916 ​ 153,806,453 ​ Accumulated depreciation and impairment losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) Depreciation expense (2,048,209) (1,724,015) — (288,150) — (118,253) (4,178,627) Impairment loss (Note 18) (1,965) — — (3,551) — — (5,516) Disposals ​ 456,383 ​ 159,015 ​ — ​ 34,151 ​ — ​ 23,999 ​ 673,548 Foreign currency translation (2,015,610) (989,196) (1,705) (126,549) (6,053) (87,650) (3,226,763) Reclassifications/transfers 1,307,058 (35,315) 7,004 (762,361) — (762) 515,624 Balance as of September 30, 2022 (Unaudited) ​ (27,001,180) ​ (22,254,563) ​ (1,274,301) ​ (5,205,713) ​ (73,664) ​ (1,236,561) ​ (57,045,982) 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 Balance as of September 30, 2022 (Unaudited) 33,263,872 36,896,447 11,213,256 8,410,520 4,999,021 1,977,355 96,760,471 (1) Mainly includes: i) Ecopetrol S.A. projects in courses associated with the Caño Sur, Castilla, Chichimene, Cusiana, and Rubiales fields, ii) Interconexión Eléctrica S.A. E.S.P projects in progress: Caribbean Coast Interconnection, UPME 09-2016 Copey–Cuestecitas, UPME 06-2018 New Substation El Rio 220kV, UPME 07–2017 Sabanalarga – Bolívar 500kV, UPME 04-2019 Transmission Line La Loma - Sogamoso 500kV, Second Circuit Copey - Cuestecitas 500kV project, and Alpha and Beta wind farm connection project new Cuestecitas 500kV substation. (2) Financial interest is capitalized based on the weighted average rate of loan costs. (3) Corresponds to the effect of adopting the IAS 16 amendment in Hocol S.A.

Natural and environmental resou

Natural and environmental resources	9 Months Ended
	Sep. 30, 2022
Natural and environmental resources.
Natural and environmental resources	15. Natural and environmental resources The movement of natural and environmental resources for the period ended September 30, 2022, with their corresponding depletions and impairment, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and gas ​ Assets retirement ​ Exploration and ​ ​ ​ investments obligations evaluation Total Cost Balance as of December 31, 2021 76,229,481 8,172,698 7,212,305 91,614,484 Additions/capitalizations (1) 4,208,480 — 3,264,075 7,472,555 Abandonment cost update (Note 23) ​ — ​ (51,227) ​ — ​ (51,227) Disposals (2) (759,178) (107,815) (4,505) (871,498) Write off exploratory assets and dry wells (3) ​ — ​ — ​ (436,980) ​ (436,980) Capitalized financial interests (4) 75,504 — 62,317 137,821 Exchange differences capitalized 660 — 545 1,205 Effect of adopting new standards (5) ​ — ​ — ​ 48,173 ​ 48,173 Foreign currency translation 3,218,959 95,721 541,338 3,856,018 Reclassifications/transfers 1,080,686 (9,097) (1,095,069) (23,480) Balance as of September 30, 2022 (Unaudited) 84,054,592 8,100,280 9,592,199 101,747,071 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depletion and impairment losses Balance as of December 31, 2021 (51,316,344) (4,230,674) (157,622) (55,704,640) Depletion expense ​ (3,286,865) ​ (522,165) ​ — ​ (3,809,030) Disposals 419,374 89,405 — 508,779 Foreign currency translation (1,721,997) (62,189) — (1,784,186) Reclassifications/transfers 43,046 (41,502) 5,760 7,304 Balance as of September 30, 2022 (Unaudited) (55,862,786) (4,767,125) (151,862) (60,781,773) ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of December 31, 2021 24,913,137 3,942,024 7,054,683 35,909,844 Balance as of September 30, 2022 (Unaudited) 28,191,806 3,333,155 9,440,337 40,965,298 (1) Mainly includes a) Ecopetrol Permian for investments made in the drilling of wells and construction of facilities executed in RODEO, b) Ecopetrol S.A. by Cantagallo, Casabe, Castilla, Floreña, Provincia, Rubiales, and exploratory wells in Cupiagua and Uchuva c) Hocol S.A. mainly from VIM8, Guarrojo, Guajira, VIM8, SN-15, SSJN1, and Cicuco. (2) It mainly corresponds to the exit of Rygberg's association contract in Ecopetrol America. (3) It mainly includes a) Saturno block in Ecopetrol Brazil related to the entry bond, b) dry wells in Hocol S.A.: Bololó and Pilonera, and failure of Chinchorro well, and c) dry well in Ecopetrol S.A.: Boranda Norte 1. (4) Financial interest is capitalized based on the weighted average rate of loan costs. (5) Corresponds to the effect of adoption of the IAS 16 amendment, includes Ecopetrol S.A. and Hocol S. A..

Right-of-use assets

Right-of-use assets	9 Months Ended
	Sep. 30, 2022
Right-of-use assets.
Right-of-use assets	16. Right-of-use assets The movement of right-of-use assets and lease liabilities for the period ended September 30, 2022, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets ​ ​ ​ ​ ​ Right-of- Lease ​ ​ Lands and ​ Plant and ​ ​ use liabilities ​ ​ Pipelines ​ buildings ​ equipment ​ Vehicles ​ assets ​ (Note 20.1) Balance as of December 31, 2021 77,019 199,070 121,384 99,205 496,678 1,165,099 Additions 33,688 69,656 61,004 85,226 249,574 249,574 Amortization of the period (18,133) (43,240) (42,356) (71,827) (175,556) — Remeasurements(1) (110) (5,828) 5,105 11,952 11,119 16,183 Disposals (3,109) (1,599) (17,966) (214) (22,888) (23,280) Finance cost — — — — — 50,366 Payment of capital and interests — — — — — (311,696) Reclassifications/transfers ​ (540) ​ 208 ​ 551 ​ (43) ​ 176 ​ (2,238) Exchange difference 5,526 24,106 4,445 12,152 46,229 52,195 Balance as of September 30, 2022 (Unaudited) 94,341 242,373 132,167 136,451 605,332 1,196,203 (1) Corresponds mainly to updating rates and conditions in lease contracts .

Intangible assets

Intangible assets	9 Months Ended
	Sep. 30, 2022
Intangible assets
Intangible assets	17. Intangible assets The movement of intangibles assets for the period ended September 30, 2022, with their corresponding amortizations, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Licenses ​ ​ ​ ​ ​ ​ and ​ Other ​ Concessions ​ ​ ​ ​ ​ ​ software ​ intangibles ​ and rights ​ Easements ​ Total Cost ​ ​ Balance as of December 31, 2021 1,118,811 940,080 13,503,441 ​ 1,733,379 17,295,711 Additions/capitalizations ​ 198,295 ​ 11,507 ​ 488,761 ​ 3,434 ​ 701,997 Increase (decrease) related to business combination (Note 12) ​ — ​ 12,670 ​ (117,270) ​ (318,389) ​ (422,989) Disposals ​ (6,208) ​ — ​ (95,875) ​ — ​ (102,083) Foreign currency translation 46,737 210,171 2,250,536 ​ 57,336 2,564,780 Reclassifications/transfers 4,158 (1,068) 530 ​ 16,958 20,578 Balance as of September 30, 2022 (Unaudited) 1,361,793 1,173,360 16,030,123 ​ 1,492,718 20,057,994 Accumulated amortization and impairment losses ​ ​ ​ ​ Balance as of December 31, 2021 (689,817) (153,292) (878,125) ​ (65,961) (1,787,195) Amortization expense (94,266) (22,889) (472,193) ​ (4,265) (593,613) Disposals 3,231 — 95,875 ​ — 99,106 Foreign currency translation (39,181) (147,467) (579,720) ​ — (766,368) Reclassifications/transfers 107 (274) 25 ​ — (142) Balance as of September 30, 2022 (Unaudited) (819,926) (323,922) (1,834,138) ​ (70,226) (3,048,212) Balance as of December 31, 2021 428,994 786,788 12,625,316 ​ 1,667,418 15,508,516 Balance as of September 30, 2022 (Unaudited) 541,867 849,438 14,195,985 ​ 1,422,492 ​ 17,009,782 ​

Impairment of non-current asset

Impairment of non-current assets	9 Months Ended
	Sep. 30, 2022
Impairment of non-current assets
Impairment of non-current assets	18. Impairment of non-current assets According to the behavior of the key market assumptions, as of September 30, 2022, no factors or circumstances were identified that indicate that the book value of its assets may be above its recoverable value, considering the market conditions, the international prices and indicators of crude oil and products, and the geopolitical context, particularly, produced by the conflict between Russia and Ukraine (See note 2.4). As of September 30, 2022, no indicators of impairment exist for non-current assets, especially considering the higher prices of crude oil and products during the nine-month period of 2022. The most significant movements in 2022 are presented mainly by the impairment recognized in office-type containers of $5,540 in Refinería de Cartagena S.A.S. and a recovery of $24 in Invercolsa. In 2021, the movement corresponds to the recovery related to materials for $4,320 in Refinería de Cartagena S.A.S. and Cenit, and an impairment recognition in Ocensa and ISA for $2,557.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2022
Goodwill
Goodwill	19. Goodwill ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Interconexión Eléctrica S.A. E.S.P. (1) ​ 3,643,922 ​ 3,092,045 Oleoducto Central S.A. 683,496 683,496 Hocol Petroleum Ltd 537,598 537,598 Invercolsa S.A. ​ 434,357 ​ 434,357 Andean Chemical Limited 127,812 127,812 Esenttia S.A. 108,137 108,137 ​ 5,535,322 4,983,445 Less Impairment Hocol Petroleum Ltd (297,121) (297,121) Total 5,238,201 4,686,324 ​ (1)

Loans and borrowings

Loans and borrowings	9 Months Ended
	Sep. 30, 2022
Loans and borrowings
Loans and borrowings	20. Loans and borrowings 20.1. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate* ​ September 30, ​ December 31, ​ 2022 2021 2022 2021 ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ Local currency ​ ​ ​ ​ Bonds 9.8 % 9.1 % 5,197,949 4,941,024 Syndicate loans 11.8 % 5.4 % 443,541 600,452 Lease liabilities (1) ​ 7.6 % 6.3 % 829,123 ​ 823,922 Commercial loans and others ​ 10.2 % 7.8 % 1,775,097 ​ 1,516,377 ​ ​ ​ ​ ​ 8,245,710 7,881,775 Foreign currency Bonds (2) 6.1 % 5.7 % 77,547,079 66,603,695 Commercial and syndicate loans 4.6 % 3.5 % 20,810,085 18,750,580 Loans from related parties (Nota 31) 2.7 % 0.3 % 770,036 1,483,701 Lease liabilities (1) 6.0 % 6.0 % 367,080 341,177 ​ ​ ​ ​ ​ 99,494,280 87,179,153 ​ ​ ​ ​ ​ 107,739,990 95,060,928 Current ​ ​ ​ 22,614,434 9,206,283 Non–current ​ ​ ​ 85,125,556 85,854,645 ​ ​ ​ ​ ​ 107,739,990 95,060,928 * Weighted average effective interest rate for the end of each period. (1) Corresponds to the present value of the payments to be made during the term of the operating lease contracts for pipelines, tanks, real estate, and vehicles, recognized because of the implementation of IFRS 16 – Leases. See Note 16. (2) Corresponds to the increase in the exchange rate of $609 Colombian pesos per dollar. During 2022, proceeds obtained from loans and borrowings totaled $10,458,560. The most significant loans and borrowings were obtained by: a) Ecopetrol S.A. for $6,010,259, which entered into i) a financing line for $5,384,315 (USD$1,200 million) for the advance payment of the credit contracted for the acquisition of ISA, and ii) a short-term financing with BNP Paribas for $625,944 (USD$160 million), and b) Interconexión Eléctrica S.A. E.S.P. for $4,369,744, of which $2,063,735 relates to an international issuance of corporate bonds issued by its the subsidiary, Consorcio Transmantaro S.A. for the repurchase of its 2023 international bond, and the remaining balance related to loans obtained to cover investment plans and projects in Brazil, Peru, and Chile. The repayment of loans and borrowings totaled $11,614,789, and it mainly includes the advance payment of the credit contracted for the acquisition of ISA and the repurchase of international bonds issued by Consorcio Transmantaro S.A. 20.2. Fair value The fair value of the financial obligations is $99,947,506 and $99,258,034 as of September 30, 2022 (unaudited) and December 31, 2021, respectively. 20.3. The following is the maturity profile of loans and borrowings as of September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 year 1 – 5 years 5-10 years > 10 years Total Local currency Bonds 380,320 1,276,812 1,528,337 2,012,480 5,197,949 Syndicate loans 253,128 190,413 — — 443,541 Lease liabilities ​ 167,326 ​ 412,358 ​ 248,716 ​ 723 ​ 829,123 Commercial loans and others 283,806 565,368 619,110 306,813 1,775,097 ​ 1,084,580 2,444,951 2,396,163 2,320,016 8,245,710 Foreign currency ​ ​ ​ ​ ​ Bonds 11,776,966 25,921,456 22,370,391 17,478,266 77,547,079 Syndicate loans ​ 1,891,747 ​ 4,193,005 ​ 28,142 ​ — ​ 6,112,894 Commercial loans 6,977,769 7,325,784 266,320 127,318 14,697,191 Lease liabilities 113,336 220,051 33,693 — 367,080 Loans from related parties ​ 770,036 ​ — ​ — ​ — ​ 770,036 ​ 21,529,854 37,660,296 22,698,546 17,605,584 99,494,280 Balance as of September 30, 2022 (Unaudited) 22,614,434 40,105,247 25,094,709 19,925,600 107,739,990 ​ 20.4. Loans designated as hedging instrument As of September 30, 2022 (unaudited), Ecopetrol Business Group has designated USD$14,089 million of debt in foreign currency as a hedging instrument; of which, USD$9,117 million correspond to the hedge of investments in companies with dollar functional currency and USD$4,972 million to the cash flow hedge for future crude oil exports. See Note 30.1 – Exchange rate risk. 20.5. As of September 30, 2022, the total value of the current guarantees provided by Interconexión Eléctrica S.A. E.S.P. and its companies, within the framework of the definition of paragraph 14 of IFRS 7, used to support growth in its different business units and ensure strategic commercial and operational viability amount to $20,252,997, mainly in: a) Chile for $15,132,439 in ISA Intervial, Ruta de la Araucaria, Ruta del Maipo, Ruta de los Ríos, Ruta del Loa, and ISA Interchile, b) Colombia in Ruta Costera for $2,679,000, and c) Brazil in ISA CTEEP for $2,441,558. The syndicated loan acquired by Oleoducto Bicentenario de Colombia S.A.S. establishes as a requirement that this subsidiary maintain an established relationship of leverage and solvency and cash flow/debt service.

Trade and other payables

Trade and other payables	9 Months Ended
	Sep. 30, 2022
Trade and other payables
Trade and other payables	21 . Trade and other payables ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Current ​ ​ ​ ​ Suppliers 11,780,282 10,470,260 Dividends payable (1) 1,958,736 58,668 Withholding tax 970,447 717,720 Partner's advances 900,259 1,060,349 Insurance and reinsurance 478,976 294,114 Deposits received from third parties 145,989 136,310 Related parties (Note 31) ​ 73,403 ​ 66,598 Agreements in transport contracts ​ 31,816 ​ 33,883 Hedging operations (2) 13,101 2,032 Various creditors 736,940 728,297 ​ 17,089,949 13,568,231 ​ ​ ​ ​ ​ Non-current ​ ​ ​ ​ Suppliers ​ 24,544 ​ 8,260 Various creditors 38,988 62,347 ​ 63,532 70,607 (1) Corresponds mainly to dividends payable by Ecopetrol S.A. for $1,589,000 (2021: $3,714 ), Interconexión Eléctrica S.A. $215,150 (2021: 53,976 ), Inversiones de Gases de Colombia S.A. $74,696 (2021: 978 ), Oleoducto de Colombia S.A. $45,155 , and Oleoducto de los Llanos Orientales S.A. $34,735 . (2) Corresponds to the balance payable for the liquidation of swap contracts acquired to hedge the price risk of export crude oil. The book values of trade accounts and other accounts payable approximate their fair values due to the short-term nature of these accounts.

Provisions for employees' benef

Provisions for employees' benefits	9 Months Ended
	Sep. 30, 2022
Provisions for employees' benefits
Provisions for employees' benefits	22. Provisions for employees’ benefits ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Post-employment benefits Health 6,751,292 6,636,809 Pension 3,748,424 2,159,530 Education 431,243 443,761 Bonds 515,969 320,833 Other plans 108,051 91,476 Termination benefits - Voluntary retirement plan 675,210 746,585 ​ 12,230,189 10,398,994 Social benefits and salaries 874,892 856,198 Other long-term benefits 135,209 123,853 ​ 13,240,290 11,379,045 Current 2,217,195 2,296,253 Non-current 11,023,095 9,082,792 ​ 13,240,290 11,379,045 ​ 22.1. The assets of the plan are represented by the resources delivered to the Autonomous Pension Funds for the payment of the pension liability of the obligations for pension and pension bonds; what concerns health and education oversees Ecopetrol S.A.. The destination of the resources of the autonomous patrimonies, as well as their yields, cannot be changed or returned to the Company until all the obligations are fulfilled. Plan asset balance is $10,429,486 and $12,068,525 as of September 30, 2022 (unaudited) and December 31, 2021, respectively. 53,65%

Accrued liabilities and provisi

Accrued liabilities and provisions	9 Months Ended
	Sep. 30, 2022
Accrued liabilities and provisions
Accrued liabilities and provisions	23. Accrued liabilities and provisions ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Abandonment ​ Environmental ​ ​ ​ and dismantling ​ ​ ​ contingencies ​ ​ ​ ​ costs ​ Litigations ​ and others ​ Total Balance as of December 31, 2021 11,890,319 703,966 1,637,922 14,232,207 Abandonment cost update (188,752) — — (188,752) Additions 842 55,573 290,573 346,988 Uses (433,543) (24,409) (203,844) (661,796) Financial cost 250,943 8,132 9,700 268,775 Foreign currency translation 142,899 53,342 70,517 266,758 Reversal of provision for sale of assets (1) (188,540) — — (188,540) Transfers 2,492 ​ (8,762) ​ (22,056) ​ (28,326) Balance as of September 30, 2022 (Unaudited) 11,476,660 787,842 1,782,812 14,047,314 Current 538,453 65,059 514,798 1,118,310 Non-current ​ 10,938,207 722,783 1,268,014 12,929,004 ​ ​ 11,476,660 787,842 1,782,812 14,047,314 (1) Corresponding to the provision for abandonment associated with the assets related to the participation of Ecopetrol S.A. in Casanare, Estero, Garcero, Orocué and Corocora Join Venture (CEGOC), which were sold to Perenco Oil and Gas Colombia. This transaction closed on August 26, 2022. ​ 23.1. Refinería de Cartagena S.A.S 1. Court of arbitration On April 29, 2022, the International Chamber of Commerce extended the time for the arbitration process to November 20, 2022. Once the arbitration process is completed, the filing of an annulment appeal may proceed. 2. Investigations of control entities Prosecutor’s Office: To date, three legal proceedings are being carried out arising from the events related to the expansion and modernization project of the Refinería de Cartagena (the “project”). Process 1 – No. 110016000101201600023 - MOA - PIP and EPC This process is being carried out against some ex-members of the Board of Directors and ex-workers of the Cartagena Refinery, workers of the Chicago Bridge and Iron Company (CB&I) and the Statutory Auditor of the Cartagena Refinery between 2013 and 2015, for the crimes of improper interest in the execution of contracts, embezzlement by appropriation in favor of third parties, illicit enrichment of individuals in favor of third parties and ideological falsehood in public documents. On March 29, 2022, a hearing was held to lift the house arrest measure for Felipe Laverde Concha and on April 5, 2022, the 34th Municipal Criminal Court with a Function of Guarantees granted him freedom due to the expiration of terms. From July 25 to 29, 2022, the preparatory hearing was held, where the interlocutory order of decree of evidence was issued, against which the defenders filed appeals. The appeals were granted and will be resolved by the Superior Court of Bogotá. Process 2 – No. 110016000101201800132 Business line This process is being carried out against ex-members of the Board of Directors and an ex-employee of the Refinería de Cartagena for the crimes of aggravated unfair administration and obtaining a false public document against ex-members of the Board of Directors of the Refinery and an ex-President of this company. On November 18, 2019, the preparatory trial hearing was installed, which has been resumed on several occasions, but to date it is suspended pending rescheduling. No changes occurred in the status of this litigation since December 31, 2021. Process 3 – No. 110016000101201800134 - Subscription of the PMC Contract - Foster Wheeler This process is carried out against two ex-workers of Refinería de Cartagena who acted as ex-President in property and ex-President in charge, for the crime of entering a contract without legal requirements, for the period for which the accusation is made. On February 7, 2022, the oral trial began, and the evidence requested by the FGN, and the defense was taken. On April 5, 2022, the practice of evidence concluded. On May 10, 2022, at the hearing of closing arguments, the 9th Circuit Criminal Judge announced the sense of the conviction against two former workers of the Cartagena Refinery for entering a contract without legal requirements. On August 18, 2022, a sentence was handed down imposing the minimum sentence for the crime charged, equivalent to 64 months in prison and a fine of 66.66 current monthly legal minimum salaries in Colombia (SMLMV as its acronym in Spanish), a decision against which appeals were filed, which will be resolved by the Superior Court of Bogotá. The defendants will remain free until the appeals are resolved and, if applicable, the extraordinary appeal before the Supreme Court of Justice. Office of the Comptroller General (Contraloría General de la Nación – CGR): Financial Audit for the 2021 The CGR carried out a financial audit of Refinería de Cartagena between January 20, 2022, and May 31, 2022. On July 5, 2022, the improvement plan for two findings that are administrative in nature was uploaded to the CGR's SIRECI application. Fiscal Responsibility Process (1) PRF-2018-00684-PRF-017-2018 Due to the late entry into operation that generated lost profits, the CGR is carrying out an independent process in which various requirements have been met. ​ Through order 0167 dated February 3, 2022, the CGR has ended the litigation related to the tax liability process for lost profits, that is, for the possible damage associated with the late entry into operation of the refinery, which was initially estimated at $1,936 million dollars. Since the Company did not have a provision recorded for this matter, the resolution of this litigation has no impact in the interim condensed consolidated financial statements. ​ Among the fundamentals for the decision are the non-existence of the damage and the non-accreditation of injury to public property, since the circumstances that caused the late entry into operation of the refinery were due to a series of situations unrelated to the managerial decisions of those investigated, such as, the winter wave, the labor abnormality presented in the execution of the project, among others. ​ By order of March 1, 2022, the Fiscal and Sanctioning Decision Chamber of the CGR decided to confirm the termination of this litigation. Additionally, it ordered to carry out “monitoring and supervision of the investment and production of the refinery to determine losses due to foregone profits, as a consequence of the damage determined in the ruling with fiscal responsibility No. 749 of April 26, 2021, and confirmed by order 801119 -158-021 of July 6, 2021”. ​ (2) PRF-80011-2018-33300 No changes occurred in the status of this litigation since December 31, 2021.

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity
Equity	24. Equity 24.1. Ecopetrol’s authorized capital is $36,540,000, and is divided in 60,000,000,000 ordinary shares, of which 41,116,694,690 have been subscribed, represented by 11.51% (4,731,906,273 shares) of non-government entities and people, and 88.49% (36,384,788,417 shares) held by Government entities. The value of the reserve shares amounts to $11,499,933 comprised by 18,883,305,310 shares. As of September 30, 2022, and December 31, 2021, subscribed and paid-in capital is $25,040,067. There is no potential dilution of shares. 24.2. It mainly corresponds to: (i) surplus with respect to its nominal value derived from the sale of shares upon capitalization in 2007, for $4,457,997, (ii) $31,377 the value generated by the process of placing the shares on the secondary market, arising from the calling of guarantees from debtors in arrears, according to the provisions of Article 397 of the Code of Commerce, (iii) surplus over nominal value arising from the sale of shares awarded in the second round, which took place in September 2011, in the amount of $2,118,468, and (iv) additional paid-in capital receivable of $(143). 24.3. ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Legal reserve 6,407,256 4,737,788 Fiscal and statutory reserves 509,082 509,082 Occasional reserves (1) 1,982,295 5,377,359 Total 8,898,633 10,624,229 (1) Ecopetrol's General Shareholders' Meeting, held on March 30, 2022, approved the 2021 profit distribution project, and recognized a reserve of $8,889,900 (2021: $5,377,359 ) to support financial sustainability of the Company and flexibility in the development of its strategy. The Extraordinary General Assembly of June 17, 2022, approved the modification of the destination of a part of the occasional reserve to distribute it as an extraordinary dividend for $6,907,605 . ​ The movement of the equity reserves in the periods ended September 30, is the following: ​ ​ ​ ​ ​ ​ ​ September 30, September 30, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) Opening balance 10,624,229 9,635,136 Release of reserves (5,886,441) (5,066,156) Appropriation of reserves 11,068,450 6,055,249 Dividends declared ​ (6,907,605) ​ — Closing balance 8,898,633 10,624,229 ​ 24.4. The Group distributes dividends based on its financial statements prepared under International Financial Reporting Standards accepted in Colombia (NCIF, as its acronym in Spanish). The Ordinary General Assembly of Shareholders of Ecopetrol S.A., held on March 30, 2022, approved the profit distribution project for fiscal year 2021 and defined the distribution of dividends in the amount of $11,512,675 (distribution during 2021: $698,984). The due date for the payments of the ordinary and extraordinary dividends to the minority shareholders was April 21, 2022, and, throughout 2022, in the case of the majority shareholder. Additionally, the Extraordinary General Assembly of Ecopetrol S.A. of June 17, 2022, approved the modification of the destination of a part of the occasional reserve to distribute it as an extraordinary dividend for $6,907,605. The payment was made in June 2022, for minority shareholders in a single payment, and for the majority shareholder, the entirety of this dividend was offset with the receivable account related to the Fuel Price Stabilization Fund, therefore, did not imply a cash outflow. As of September 30, 2022, dividends of $11,186,951 (2021: $1,424,456) were paid by the following companies within the Ecopetrol Group: Ecopetrol S.A. $10,037,445 (2021: $696,387), Interconexión eléctrica S.A. E.S.P $356,773, Oleoducto Central S.A. $516,284 (2021: $484,829), Inversiones de Gases de Colombia S.A. $126,161 (2021: $103,203), Oleoducto de los Llanos Orientales S.A. $104,205 (2021: $99,263) and Oleoducto de Colombia S.A. $46,083 (2021: $40,774). 24.5. The following is the composition of the other comprehensive results attributable to the shareholders of the parent company, net of deferred income tax: ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Foreign currency translation and others (1) 25,569,813 17,244,256 Hedges of a net investment in a foreign operation (7,919,862) (4,364,466) Loss on defined benefit obligation (1,555,320) (517,278) Cash flow hedging - Future crude oil exports ​ (2,540,214) ​ (945,250) Cash flow hedging - Derivative financial instruments (20,687) (61,502) Financial instruments measured at fair value ​ 725 ​ 2,134 ​ 13,534,455 11,357,894 ​ (1) ​ 24.6. ​ ​ ​ ​ ​ ​ ​ September 30, ​ 2022 2021 ​ ​ (Unaudited) Profit attributable to Ecopetrol’s shareholders ​ 24,770,909 ​ 10,217,081 Weighted average number of outstanding shares ​ 41,116,694,690 ​ 41,116,694,690 Net basic earnings per share (Colombian pesos) ​ 602.5 ​ 248.5 ​

Revenue from contracts with cus

Revenue from contracts with customers	9 Months Ended
	Sep. 30, 2022
Revenue from contracts with customers
Revenue from contracts with customers	25 . Revenue from contracts with customers ​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) National sales Mid-distillates (1) 28,031,166 11,431,003 Gasolines (1) 20,610,595 10,337,295 Natural gas (2) 3,016,677 2,280,859 Services 2,643,135 2,127,151 Electric power transmission services (3) 1,934,461 156,362 Plastic and rubber 1,216,431 1,185,041 L.P.G. and propane 807,235 613,302 Asphalts 634,240 446,739 Fuel gas Service 621,349 537,301 Roads and construction services (3) ​ 255,736 ​ 22,607 Aromatics ​ 242,045 ​ 176,646 Polyethylene ​ 220,975 ​ 272,295 Crude oil ​ 214,587 ​ 136,644 Fuel oil 4,499 ​ 20,920 Other income – Gas contracts ​ 2,679 ​ 5,527 Other products 506,575 284,853 Cash flow hedging (4) ​ — ​ (8) ​ 60,962,385 30,034,537 Foreign sales Crude oil (2) 43,946,601 22,608,325 Diesel ​ 1,896,842 ​ 2,935,295 Roads and construction services (3) 3,209,685 274,729 Electric power transmission services (3) ​ 3,750,829 ​ 505,048 Fuel oil ​ 3,628,416 ​ 1,634,934 Plastic and rubber 1,621,076 1,558,910 L.P.G. and propane 242,581 58,079 Natural gas ​ 189,665 ​ 39,172 Gasolines ​ 157,685 ​ — Cash flow hedging (4) ​ (968,534) ​ (231,014) Other products (5) 1,261,563 667,793 ​ 58,936,409 30,051,271 ​ 119,898,794 60,085,808 (1) Includes the value corresponding to the application of 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 establishes the procedure to recognize the subsidy for refiners and importers of regular 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 September 30, 2022, the value recognized for price differential corresponds to $26,584,199 (2021: $6,916,763 ). (2) With the implementation of the IAS 16 Amendment on the management of the sale of products obtained in the project stage or extensive tests mandatory as of January 1, 2022, the Group recognizes as of that date, the income received from the product of the sale of hydrocarbons in the stage prior to their declaration of commerciality of the oil fields. The cost related to these revenues is disclosed in Note 26 – Cost of sales. As of September 30, 2022, the value recognized for extensive tests is as follows: natural gas for national sales $34,197 and crude oil for foreign sales $104,493 . (3) Corresponds to the income derived from the energy transmission and road concession contracts of Interconexión Eléctrica S.A. E.S.P. (4) Includes the result of hedges for future exports (Note 30.3) for $( 576,875 ) (2021: ( 151,791 )) and operations with derivative financial instruments for $( 391,659 ) (2021: ( 79,231 )). (5) Includes income from telecommunications services provided by Interconexión Eléctrica S.A. E.S.P. and the sale of asphalt, and other products by other Group Companies.

Cost of sales

Cost of sales	9 Months Ended
	Sep. 30, 2022
Cost of sales
Cost of sales	26. Cost of sales ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) Costs variables Imported products (1) 23,243,685 11,265,184 Purchases of crude in associations and concessions 11,712,144 6,801,926 Hydrocarbon purchases - ANH (2) 6,929,845 3,965,823 Depreciation, depletion, and amortization 4,985,749 4,956,510 Gas royalties in cash 1,073,435 750,987 Electric Energy 1,074,527 773,844 Hydrocarbon transportation services ​ 869,983 664,965 Purchases of other products and gas 879,966 581,821 Processing materials 828,599 643,876 Services contracted in association 239,872 201,624 Extensive tests ​ 43,289 ​ — Others (3) (1,505,246) (3,657,378) ​ 50,375,848 26,949,182 Fixed cost ​ ​ Depreciation and amortization 3,382,811 2,238,338 Maintenance 2,652,864 1,737,586 Construction services ​ 1,888,186 ​ 183,359 Labor costs 2,438,632 1,800,954 Contracted services 1,919,342 1,292,292 Contracted services in associations 1,175,197 919,203 Taxes and contributions 725,640 685,268 Materials and operating supplies 452,560 386,994 Hydrocarbon transportation services ​ 133,837 ​ 42,815 General costs 313,324 213,451 ​ 15,082,393 9,500,260 ​ 65,458,241 36,449,442 (1) Imported products correspond mainly to gasoline, naphtha, and diluent to facilitate the transportation of heavy crude oil. (2) Corresponds mainly to royalty crude purchases made by Ecopetrol from the National Hydrocarbons Agency (ANH), 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 (NRV) and iii) other capitalizable charges to projects. The variation corresponds to a higher level of sold inventories of crude oil.

Administrative, operations and

Administrative, operations and project expenses	9 Months Ended
	Sep. 30, 2022
Administrative, operations and project expenses
Administrative, operations and project expenses	27. Administrative, operation and project expenses ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) Administration expenses General expenses 1,269,973 962,822 Labor expenses 1,208,844 856,232 Depreciation and amortization 314,566 74,294 Taxes 51,244 41,209 ​ 2,844,627 1,934,557 Operation and project expenses ​ ​ Commissions, fees, freights, and services 896,113 453,032 Taxes 562,837 349,726 Labor expenses 270,162 224,535 Exploration expenses 637,590 536,293 Depreciation and amortization 73,700 115,038 Fee for regulatory entities 123,128 114,843 Maintenance 82,440 119,253 Other ​ 187,553 ​ 80,363 ​ 2,833,523 1,993,083 ​

Other operating income (expense

Other operating income (expense)	9 Months Ended
	Sep. 30, 2022
Other operating income (expense).
Other operating income (expense)	28. Other operating income (expense) ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) Litigation and contingencies ​ (310,406) ​ (400,136) Loss on sale of assets (1) (38,309) (56,548) Impairment of current assets (46,434) (18,795) Other income 92,478 39,922 ​ (302,671) (435,557) (1) It mainly corresponds to the end of Rygberg's association contract in Ecopetrol America, and the profit on the sale of the total participation of Ecopetrol S.A. in the Casanare, Estero, Garcero, Orocué and Corocora Association (CEGOC). This sale of fields was made to itse partner Perenco Oil and Gas Colombia.

Financial results

Financial results	9 Months Ended
	Sep. 30, 2022
Financial results
Financial results	29. Financial result s ​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) Finance income Yields and interests 612,914 130,398 Results from financial assets 124,493 87,747 Gain on derivatives valuation/ settlement ​ 11,834 ​ 7,497 Other financial income 138,157 17,121 ​ 887,398 242,763 Financial expenses ​ ​ Financial cost of loans and borrowings (3,886,375) (1,867,718) Financial cost of other liabilities (1) (1,559,080) (698,534) Results from financial assets (125,493) (75,174) Other financial expenses (304,929) (132,869) ​ (5,875,877) (2,774,295) Foreign exchange ​ ​ ​ Foreign exchange loss ​ (377,527) ​ (10,387) Realized gain of other comprehensive income from the sale of joint ventures ​ — ​ 361,728 ​ ​ (377,527) ​ 351,341 ​ (5,366,006) (2,180,191) (1) It includes the financial expense for the updating of the liability for abandonment costs, and the interest, net of post-employment benefits and other long-term employee benefits.

Risk management

Risk management	9 Months Ended
	Sep. 30, 2022
Risk management
Risk management	30. Risk management 30.1. Exchange rate risk The Group operates both in the local (Colombia) and international markets, for this reason, it is exposed to exchange rate risk, to a greater extent due to fluctuations in exchange rates, especially the peso/US dollar rate. As of September 30, 2022, the Colombian peso appreciated 15.31% from a closing rate of $3,981.16 on December 31, 2021, to $4,590.54 pesos per dollar. When the Colombian peso depreciates, export revenues, when converted to pesos, increase, and imports and foreign debt service become more expensive. The book values of financial assets and liabilities denominated in foreign currency are presented in the following table: ​ ​ ​ ​ ​ ​ ​ September 30, December 31, (USD$ Millions) ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Cash and cash equivalents 454 388 Other financial assets 1,078 408 Trade receivables and payables 196 423 Loans and borrowings (15,886) (15,514) Other assets and liabilities 2 702 Net liability position (14,156) (13,593) ​ Of the total net position, USD$(13,499) million correspond to net liabilities of companies with Colombian peso functional currency, of which USD$(14,089) correspond to loans used as hedging instruments whose valuation is recognized in other comprehensive income, the exchange difference valuation of the remaining net liabilities for USD$590 million affects the statement of profit and loss. Likewise, USD$(657) million of the net position correspond to monetary assets and liabilities of Group companies with a functional currency other than the Colombian peso, whose valuation is recognized in the profit or loss statement. 30.2. Sensitivity analysis for exchange rate risk The following is the effect that a variation of 1% and 5% would have in the exchange rate of Colombian pesos against the U.S. United States dollar, related to the exposure of financial assets and liabilities in foreign currency as of September 30, 2022: ​ ​ ​ ​ ​ ​ Scenario / variation in the Effect on income Effect on other exchange rate ​ before taxes +/– ​ comprehensive income +/ 1 % 3,094 646,743 5 % 15,471 3,233,713 ​ 30.3. To express in the consolidated financial statements, the effect of the existing natural hedge between exports and indebtedness, understanding that the exchange rate risk materializes when exports are made, on September 30, 2015, the Board of Directors designated the sum of USD$5,440 million of Ecopetrol's debt as a hedging instrument for its future revenues from crude oil exports, for the period 2015 – 2023. As of September 30, 2022, the current balance of this hedging corresponds to USD$1,300 million. In 2021 an additional USD$3,672 million were designated as a hedging instrument for its future revenues from crude oil exports, for the period 2022 – 2026; in accordance with IFRS 9 – Financial Instruments. The total amount designated as of September 30, 2022, for this hedging corresponds to USD$4,972 million. The following is the movement of this non-derivative hedging instrument: ​ ​ ​ ​ ​ ​ ​ September 30, December 31, (USD$ Millions) ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Opening balance 4,972 1,300 Reassignment of hedging instruments 682 675 Realized exports (682) (675) Designation of new hedges — 3,672 Closing balance 4,972 4,972 ​ The following is the movement in the other comprehensive income: ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Opening balance (945,250) (136,470) Exchange difference (3,029,837) (1,533,744) Realized exports (Note 25) 576,875 249,976 Ineffectiveness (949) 24,496 Deferred tax 858,947 450,492 Closing balance (2,540,214) (945,250) ​ The expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss is as follows: ​ ​ ​ ​ ​ ​ ​ ​ Year Before taxes Taxes After taxes 2022 (Oct-Dec) 2,035,396 (712,387) 1,323,009 2023 ​ (72,675) ​ 25,436 ​ (47,239) 2024 ​ 690,910 ​ (241,819) ​ 449,091 2025 663,040 (232,064) 430,976 2026 591,350 (206,973) 384,377 ​ 3,908,021 (1,367,807) 2,540,214 ​ 30.4. The Board of Directors approved the application of hedge accounting of net investment from June 8, 2016. The measure seeks to reduce the volatility of non-operating income due to the exchange difference. The hedge of a net investment applies to a portion of the investments the Company has in foreign currency, in this case in subsidiaries with the US dollars as their functional currency, using as hedging instrument a portion of the Company’s debt denominated in U.S. dollars. Ecopetrol designated as hedged items its net investments in Oleoducto Central S.A. (Ocensa), Ecopetrol América LLC., Hocol Petroleum Ltd. (HPL) and Refinería de Cartagena S.A.S. (Reficar); and as a hedging instrument a portion of its debt denominated in US dollars in a total amount equivalent to USD$5,200 million. During 2021, the Company made an extension for USD$1,229 million to add a greater amount in Reficar. Additionally, during the year, debt principal payments were made for USD$270 million (June USD$163 million and December USD$107 million). The total value hedged on December 31, 2021, is USD$8,208 million. During 2022, an extension was made for USD$750 million to add a larger amount in Permian and additionally, capital payments of USD$167 million were made. The total hedged balance as of September 30, 2022, is USD$8,791 million. Additionally, ISA Colombia made a net investment hedge on the investments in the companies REP, ISA Peru, CTM and PDI for a value of USD$326 million. The hedging instrument corresponds to a green international bond issued on November 26, 2021. The following is the movement in the other comprehensive income: ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Opening balance 4,364,465 1,494,926 Exchange difference 5,507,846 4,577,887 Deferred tax (1,864,116) (1,708,348) Closing balance 8,008,195 4,364,465 ​ 30.5. Commodity Price risk The price risk of raw materials is associated with the Group’s operations, both exports and imports of crude oil, natural gas, and refined products. 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. The 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, to protect income and thus cash flow. During 2022, a hedging plan was executed to protect the cash against low price scenarios below the budget base price, in this sense, put options were purchased. The balance of these financial instruments as of September 30 corresponds to $220,594. 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. In the trading activity, commitments in physical spot and forward contracts could represent an exposure to commodity price risk, in particular the risk associated with the volatility of the price of crude oil and refined products. Although this exposure is part of the natural risk of the production, refining, and marketing activity made by Ecopetrol, sometimes marketing, to maximize value capture, can concentrate the exposure to risk in terms of time and/or or indicator that differs from the Company's natural price risk profile. As of the date of this report, Ecopetrol S.A. recognizes a total net asset position in swaps for $3,637 (Dec 2021: liability $34,395) and Ecopetrol Trading Asia PTE. LTD, a total net liability position in swaps for $17,237. These transactions with derivatives are recognized under cash flow hedge accounting. 30.6. Risk and opportunities related to climate According to the process of identification, assessment, and management of climate-related risks and opportunities by Ecopetrol, the following identification is presented below: ● Physical risks: related to the Company's exposure and vulnerability to the impacts of climate change and climate variability in Colombia, which could affect the availability of water and increase the exposure of assets and operations to possible damage. o For Ecopetrol, the risks classified as acute are those caused by extreme climatic events whose frequency and intensity have been increasing due to the gradual increase in global temperature. In Colombian territory, it is reflected in the occurrence of the climatic variability phenomenon “El Niño”, and its opposite phase “La Niña”. o Risks classified as chronic are those that result from a medium and long-term change in climate conditions, which for the Company can be reflected in the rise in sea level or changes in the level and frequency of rainfall. ● Transition risk: related to the challenges that the company has identified to move towards a low-carbon, sustainable and competitive operation. o Regulatory risk, associated with regulatory changes that may directly affect the Company in the short and medium term. Among the regulatory changes, the following can be highlighted: (i) new information requirements for the application or modification of current and future licenses, of which the Company does not have the information available, (ii) new regulations for the detection and repair of leaks, burning and venting of gas, (iii) disclosure requirements on environmental and social matters by the Financial Superintendence of Colombia, (iv) new requirements for the verification of projects, among others. o Legal risk, associated with the negative reactions and lawsuits against the climate action of Ecopetrol S.A. o Risk of assets trapped in the traditional business of hydrocarbon production, transportation, and refining, considering factors such as fuel demand prospects and asset profit horizons. o Market risk, related to the change in preferences in the use of low-carbon products in the long term, which implies a risk for the Company of not being able to meet market demand and of not advancing effectively in the development of these products. o Reputational risk, associated with the impossibility of responding in a timely way to the expectations and demand of investors and other interest groups to establish ambitious objectives regarding climate change, which would affect the image of the Company. o Technological risk, associated with the negative effects on the profitability of the business if there is no preparation and capacity to adapt to new technologies because of the transition process. The opportunities derive from the analysis of risks associated with the climate, the review of the energy transition scenarios, the implementation of the decarbonization plan and the alignment with the 2040 strategy. Opportunities have been identified related to the diversification of the traditional business, the incorporation into the portfolio of sustainable and low-emission businesses, the diversification in energy power and infrastructure markets, and the strengthening of energy efficiency and renewable energies. 30.7. Capital management The main objective of Ecopetrol Business Group’s Capital Management is to ensure a financial structure that will optimize the Company’s cost of capital, maximize the returns to its shareholders and allow access to financial markets at a competitive cost to cover its financing needs. The following is the leverage index over the periods reported: ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ ​ (Unaudited) ​ ​ ​ Loans and borrowings (Note 20) 107,739,990 95,060,928 ​ Cash and cash equivalents (Note 6) (12,917,748) (14,549,906) ​ Other financial assets (Note 9) (3,199,418) (2,934,734) ​ Net financial debt 91,622,824 77,576,288 ​ Equity 102,689,797 90,583,772 ​ Leverage (1) 47.15 % 46.13 % (1)

Related parties

Related parties	9 Months Ended
	Sep. 30, 2022
Related parties
Related parties	31. Related parties The balances with associated companies and joint ventures as of September 30, 2022 (unaudited), and December 31, 2021, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ Loans ​ Other ​ Accounts ​ Loans ​ Other ​ receivable receivable assets payable payable liabilities Joint ventures Equion Energía Limited 42 — 889 3,205 770,036 93 Ecodiesel Colombia S.A. 3,957 — — 61,433 — 2 Interligação Elétrica do Madeira S.A. 52,555 — — — — — Interligação Elétrica Garanhuns S.A. ​ 12,610 ​ 68 ​ — ​ — ​ — ​ — Interligação Elétrica Paraguaçu S.A. ​ — ​ 7 ​ — ​ — ​ — ​ — Interligação Elétrica Ivaí S.A. ​ — ​ 137 ​ — ​ — ​ — ​ — Derivex S.A. ​ — ​ 335 ​ — ​ — ​ — ​ — Associates ​ ​ ​ ​ ​ ​ Gases del Caribe S.A. E.S.P. ​ 93,009 ​ — ​ — ​ — ​ — ​ — Gas Natural del Oriente S.A. E.S.P. ​ 3,592 ​ — ​ — ​ 7,031 ​ — ​ — Gases de la Guajira S.A. E.S.P. ​ 1,797 ​ — ​ — ​ — ​ — ​ — Extrucol S.A. ​ 936 ​ — ​ — ​ 389 ​ — ​ — E2 Energía Eficiente S.A. E.S.P. 11,238 — — 1,345 — — Balance as of September 30, 2022 (unaudited) 179,736 547 889 73,403 770,036 95 Current 179,736 212 889 73,403 770,036 95 Non-current — 335 — — — — ​ 179,736 547 889 73,403 770,036 95 ​ (Note 7) (Note 7) (Note 11) (Note 21) (Note 20) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ Loans ​ Other ​ Accounts ​ Loans ​ Other ​ receivable receivable assets payable payable liabilities Joint ventures Equion Energía 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) ​ ​ Loans payable: (1) Deposits held by Equion in Ecopetrol Capital AG. The main transactions with related parties for the periods ended September 30, are detailed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ ​ ​ ​ Purchases of ​ ​ ​ Purchases of ​ ​ Sales and ​ product and ​ Sales and ​ product and ​ services other services other ​ ​ (Unaudited) ​ (Unaudited) Joint ventures Equion Energí a Limited 430 15,423 15,829 52,536 Ecodiesel Colombia S.A. 13,993 468,589 26,144 314,780 ​ ​ 14,423 ​ 484,012 ​ 41,973 ​ 367,316 Associates ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. — 26,783 — 19,545 Extrucol S.A. ​ 10 ​ 2,222 ​ — ​ 1,124 E2 Energía Eficiente S.A. E.S.P. ​ 65,137 ​ 2,202 ​ 41,907 ​ 7,329 ​ 65,147 31,207 41,907 27,998 ​ ​ 79,570 515,219 83,880 395,314 ​

Segments information

Segments information	9 Months Ended
	Sep. 30, 2022
Segments information
Segments information	32. Segments information The description of the business segments can be seen in note 4.20 of the consolidated financial statements December 31, 2021. The following information by segments is reported based on the information used by the Board of Directors, as the highest body for making strategic and operational decisions of the business segments. The performance of the segments is based mainly on analyzes of income, costs, expenses, and results for the period generated by each segment, which are monitored periodically. The information disclosed in each segment is presented net of the transactions carried out between the Group companies. 32.1. Below is the profit and loss statement by segment as of and for the periods ended September 30: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, 2022 (Unaudited) ​ ​ ​ ​ ​ ​ ​ ​ Concessions, ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ ​ electricity ​ ​ ​ ​ ​ and Refining and Transportation transport ​ ​ ​ ​ ​ Production ​ Petrochemicals ​ and Logistics ​ and roads ​ Eliminations Total Third party sales 47,423,709 60,987,163 1,995,275 ​ 9,578,562 (85,915) 119,898,794 Inter-segment sales 22,583,663 5,127,399 7,873,394 ​ 1,995 (35,586,451) — Revenue from contracts with customers 70,007,372 66,114,562 9,868,669 ​ 9,580,557 (35,672,366) 119,898,794 Costs of sales (34,896,814) (59,242,324) (2,681,117) ​ (3,954,326) 35,316,340 (65,458,241) Gross profit 35,110,558 6,872,238 7,187,552 ​ 5,626,231 (356,026) 54,440,553 Administration expenses (1,537,478) (487,623) (339,903) ​ (754,149) 274,526 (2,844,627) Operation and projects expenses (1,871,806) (866,722) (225,224) ​ — 130,229 (2,833,523) Impairment of non–current assets — (5,516) — ​ — — (5,516) Other operating expenses (193,586) (31,033) (24,523) ​ (51,033) (2,496) (302,671) Operating income 31,507,688 5,481,344 6,597,902 ​ 4,821,049 46,233 48,454,216 Financial results ​ ​ ​ ​ ​ ​ ​ Financial income 656,434 59,308 80,522 ​ 404,771 (313,637) 887,398 Financial expenses (2,117,736) (974,944) (207,257) ​ (2,843,762) 267,822 (5,875,877) Foreign exchange (loss) gain (102,929) (244,300) (60,892) ​ 30,594 — (377,527) ​ (1,564,231) (1,159,936) (187,627) ​ (2,408,397) (45,815) (5,366,006) Share of profit of associates and joint ventures 8,741 171,348 (1,001) ​ 477,592 — 656,680 Profit before income tax expense 29,952,198 4,492,756 6,409,274 ​ 2,890,244 418 43,744,890 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (10,809,210) (2,664,643) (2,276,607) ​ (463,605) — (16,214,065) Net profit for the period 19,142,988 1,828,113 4,132,667 ​ 2,426,639 418 27,530,825 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net profit (loss) attributable to: ​ ​ ​ ​ ​ ​ ​ Owners of the parent 19,209,590 1,684,580 3,339,949 ​ 536,372 418 24,770,909 Non–controlling interest (66,602) 143,533 792,718 ​ 1,890,267 — 2,759,916 ​ 19,142,988 ​ 1,828,113 ​ 4,132,667 ​ 2,426,639 ​ 418 ​ 27,530,825 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, 2021 (Unaudited) ​ ​ ​ ​ ​ ​ ​ ​ Concessions, ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ ​ electricity ​ ​ ​ ​ ​ ​ and Refining and Transportation transport ​ ​ ​ ​ Production ​ Petrochemicals ​ and Logistics ​ and roads ​ Eliminations Total Third party sales 25,466,140 31,909,679 1,795,516 ​ 1,035,873 (121,400) 60,085,808 Inter–segment sales 18,145,864 3,128,811 6,989,536 ​ — (28,264,211) — Revenue from contracts with customers 43,612,004 35,038,490 8,785,052 ​ 1,035,873 (28,385,611) 60,085,808 Costs of sales (28,434,970) (33,495,298) (2,321,831) ​ (397,187) 28,199,844 (36,449,442) Gross profit 15,177,034 1,543,192 6,463,221 ​ 638,686 (185,767) 23,636,366 Administration expenses (1,164,805) (518,004) (299,640) ​ (97,644) 145,536 (1,934,557) Operation and projects expenses (1,132,911) (671,309) (246,802) ​ (11) 57,950 (1,993,083) Impairment reversal (loss) of non–current assets — 3,529 (1,754) ​ (12) — 1,763 Other operating (expenses) income (397,809) (27,012) 6,341 ​ (16,157) (920) (435,557) Operating income 12,481,509 330,396 5,921,366 ​ 524,862 16,799 19,274,932 Financial results ​ ​ ​ ​ ​ ​ ​ Financial income 384,275 17,043 28,766 ​ 30,928 (218,249) 242,763 Financial expenses (1,772,996) (834,954) (187,959) ​ (176,527) 198,141 (2,774,295) Foreign exchange (loss) gain (103,969) (46,466) 307,627 ​ 194,149 — 351,341 ​ (1,492,690) (864,377) 148,434 ​ 48,550 (20,108) (2,180,191) Share of profit of associates and joint ventures 12,569 163,982 (161) ​ 49,524 — 225,914 Profit before income tax expense 11,001,388 ​ (369,999) ​ 6,069,639 ​ 622,936 ​ (3,309) ​ 17,320,655 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (3,898,652) 111,777 (1,913,888) ​ (344,906) — (6,045,669) Net profit (loss) for the period 7,102,736 ​ (258,222) ​ 4,155,751 ​ 278,030 ​ (3,309) ​ 11,274,986 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net profit (loss) attributable to: ​ ​ ​ ​ ​ ​ ​ Owners of the parent 7,210,942 (395,371) 3,291,205 ​ 113,614 (3,309) 10,217,081 Non–controlling interest (108,206) 137,149 864,546 ​ 164,416 — 1,057,905 ​ 7,102,736 ​ (258,222) ​ 4,155,751 ​ 278,030 ​ (3,309) ​ 11,274,986 ​ 32.2. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales by product - Segments ​ ​ Nine-month period ended September 30, 2022 (Unaudited) ​ ​ ​ ​ ​ ​ Concessions, ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ ​ electricity ​ ​ ​ ​ ​ ​ and ​ Refining and ​ Transportation ​ transport ​ ​ ​ ​ ​ ​ Production Petrochemicals and Logistics ​ and roads ​ Eliminations Total National sales ​ Mid-distillates — 28,049,021 — ​ — (17,855) 28,031,166 Gasolines — 23,859,630 — ​ — (3,249,035) 20,610,595 Gas natural 3,783,528 ​ — — ​ — (766,851) 3,016,677 Services 386,472 315,302 9,868,669 ​ 208,024 (8,135,332) 2,643,135 Electric power transmission services — — — ​ 1,934,461 — 1,934,461 Roads and construction services — — — ​ 255,736 — 255,736 Fuel gas service — 627,753 — ​ — (6,404) 621,349 Plastic and rubber — 1,216,431 — ​ — — 1,216,431 Asphalts 32,966 601,274 — ​ — — 634,240 L.P.G. and propane 550,211 280,473 — ​ — (23,449) 807,235 Crude oil 21,711,604 491,440 — ​ — (21,988,457) 214,587 Polyethylene — 220,975 — ​ — — 220,975 Aromatics ​ — ​ 242,045 ​ — ​ — ​ — ​ 242,045 Fuel oil ​ 2,663 ​ 1,836 ​ — ​ — ​ — ​ 4,499 Other income – Gas contracts 2,679 — — ​ — — 2,679 Other products ​ 14,053 ​ 1,835,614 ​ — ​ — ​ (1,343,092) ​ 506,575 ​ 26,484,176 57,741,794 9,868,669 ​ 2,398,221 (35,530,475) 60,962,385 Foreign sales ​ ​ ​ ​ ​ ​ ​ Crude oil 43,996,345 92,147 ​ — ​ — ​ (141,891) ​ 43,946,601 Diesel — 1,896,842 ​ — ​ — ​ — ​ 1,896,842 Electric power transmission services — — ​ — ​ 3,750,829 ​ — ​ 3,750,829 Roads and construction services — — ​ — ​ 3,209,685 ​ — ​ 3,209,685 Plastic and rubber — 1,621,076 ​ — ​ — ​ — ​ 1,621,076 Gasolines — 157,685 ​ — ​ — ​ — ​ 157,685 Fuel oil — 3,628,416 ​ — ​ — ​ — ​ 3,628,416 Natural gas 189,665 — ​ — ​ — ​ — ​ 189,665 L.P.G. and propane ​ 242,581 ​ — ​ — ​ — ​ — ​ 242,581 Cash flow hedging ​ (932,542) ​ (35,992) ​ — ​ — ​ — ​ (968,534) Other products 27,147 1,012,594 ​ — ​ 221,822 ​ — ​ 1,261,563 ​ 43,523,196 8,372,768 ​ — ​ 7,182,336 ​ (141,891) ​ 58,936,409 ​ 70,007,372 66,114,562 ​ 9,868,669 ​ 9,580,557 ​ (35,672,366) ​ 119,898,794 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales by product - Segments ​ ​ Nine-month period ended September 30, 2021 (Unaudited) ​ ​ ​ ​ ​ ​ ​ Concessions, ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ ​ electricity ​ ​ ​ ​ ​ ​ and ​ Refining and ​ Transportation ​ transport ​ ​ ​ ​ ​ Production Petrochemicals and Logistics ​ and roads ​ Eliminations Total National sales ​ Mid-distillates — 11,443,166 — ​ — (12,163) 11,431,003 Gasolines — 12,093,001 — ​ — (1,755,706) 10,337,295 Gas natural 2,936,420 ​ — — ​ — (655,561) 2,280,859 Services 77,252 283,327 8,785,052 ​ 55,251 (7,073,731) 2,127,151 Electric power transmission services ​ — ​ — ​ — ​ 156,362 ​ — ​ 156,362 Roads and construction services ​ — ​ — ​ — ​ 22,607 ​ — ​ 22,607 Fuel gas service — 542,862 — ​ — (5,561) 537,301 Plastic and rubber — 1,185,041 — ​ — — 1,185,041 Asphalts 16,526 430,213 — ​ — — 446,739 L.P.G. and propane 396,167 238,293 — ​ — (21,158) 613,302 Crude oil 17,666,119 — — ​ — (17,529,475) 136,644 Polyethylene — 272,295 — ​ — — 272,295 Aromatics — 176,646 — ​ — — 176,646 Fuel oil 9,609 11,311 — ​ — — 20,920 Other income – Gas contracts 5,527 — — ​ — — 5,527 Other products ​ 13,246 ​ 1,603,863 ​ — ​ — ​ (1,332,256) ​ 284,853 Cash flow hedging — (8) — ​ — — (8) ​ 21,120,866 28,280,010 8,785,052 ​ 234,220 (28,385,611) 30,034,537 Foreign sales ​ ​ ​ ​ ​ ​ ​ Crude oil 22,608,325 — ​ — ​ — ​ — ​ 22,608,325 Diesel — 2,935,295 ​ — ​ — ​ — ​ 2,935,295 Electric power transmission services ​ — ​ — ​ — ​ 505,048 ​ — ​ 505,048 Roads and construction services ​ — ​ — ​ — ​ 274,729 ​ — ​ 274,729 Plastic and rubber — 1,558,910 ​ — ​ — ​ — ​ 1,558,910 Fuel oil — 1,634,934 ​ — ​ — ​ — ​ 1,634,934 Natural gas 39,172 — ​ — ​ — ​ — ​ 39,172 L.P.G. and propane 58,079 — ​ — ​ — ​ — ​ 58,079 Cash flow hedging (231,021) 7 ​ — ​ — ​ — ​ (231,014) Other products 16,583 629,334 ​ — ​ 21,876 ​ — ​ 667,793 ​ 22,491,138 6,758,480 ​ — ​ 801,653 ​ — ​ 30,051,271 ​ 43,612,004 35,038,490 ​ 8,785,052 ​ 1,035,873 ​ (28,385,611) ​ 60,085,808 ​

Relevant events (unaudited)

Relevant events (unaudited)	9 Months Ended
	Sep. 30, 2022
Relevant events (unaudited)
Relevant events (unaudited)	33. Relevant events (unaudited) - New company in Ecopetrol Business Group Ecopetrol defined a new company that will be integrated into its Business Group to consolidate its position as a global marketer of refined, petrochemical, and industrial products, as well as crude oil and natural gas. The company, called Ecopetrol US Trading LLC, will begin operations during the second half of 2023. Ecopetrol S.A. is the indirect owner of 100% of the shareholding through its subsidiary Ecopetrol USA Inc. Ecopetrol US Trading will be focused on viable business with new clients and suppliers of crude oil, refined products, petrochemicals, and natural gas, mainly from the Americas and Europe. - Tax Reform On August 8, 2022, the MHCP submitted a tax reform bill to Congress proposing several changes to the Colombian tax regime, including (i) a new permanent equity tax applicable to Colombian individuals and non-residents, (ii) an increase in the dividend tax rate for local and foreign shareholders, (iii) an increase in the long-term capital gains tax rate (increasing from 10% to 15%); (iv) elimination and the limitation of specific tax benefits and exemptions, such as the rule that exempted the taxing of capital gains from the sale of publicly listed shares (currently applicable to sale of less than 10% of the total shares in circulation, which would be limited to 3% of the total shares in circulation as from 2023), (v) an income tax surcharge for companies engaged in the extraction of crude oil and coal from 0%, 5%, 10% or 15% and based on international prices, (vi) non-deductible of royalties, and (vii) the introduction of a minimum tax based on effective tax rate determined on accounting profits. The tax reform bill was approved by the Congress on November 11, 2022, and is expected to become effective starting January 1, 2023, once approved by the President. - Investment plan 2023 approval On December 9, 2022, Ecopetrol S.A. informed that the Board of Directors had the general organic investment plan for the Ecopetrol Group with an estimated amount between COP $25.3 and COP $29.8 trillion by 2023. Individual investment projects will be assessed at the time by the Board of Directors according to their materiality. The plan seeks to advance the four pillars of the 2040 Strategy, and the roadmap for the country's energy transition. ● The General Investment Plan 2023 approved by the Board of Directors, is aligned with the Ecopetrol Group's commitment to accelerate the transition path and energy sovereignty of the country, maintaining competitive returns for all its shareholders in line with its 2040 Strategy "Energy that Transforms". ● About 23% of the plan is aimed at cementing diversification into new low-emission businesses, which includes investments in hydrogen production, renewable energy, carbon capture and electricity transmission, leveraging diversification at the Ecopetrol Group scale. ● The plan seeks to reduce about 400,000 tons of CO2e emissions and incorporate about 900 MW of renewable energy and more than 50,000 tons of green hydrogen by 2025. ● The commitment to self-sufficiency in gas includes investments between COP $3.6 trillion and COP $4.1 trillion for exploration and production projects in Piedemonte Llanero, the Continental Caribbean and Offshore. The plan calls for the creation of at least two new regional energy communities and about 107,000 new gas-connected homes. ● Nearly COP $5.4 trillion are allocated to the electricity transmission business with the objective of enabling more than 6,000 kilometers of new transmission lines for non-conventional renewable energies by 2025. ● The hydrocarbons business foresees in 2023 a production between 720,000 and 725,000 equivalent barrels per day, a refining load between 420,000 and 430,000 barrels per day, with transported volumes of more than one million barrels per day, ensuring continuity of fuel import substitution and the stability of the country's trade balance. ● In accordance with the Sostecnibilidad (sustainability + technology) objectives of the strategy, the plan includes investments close to COP $2.3 trillion in decarbonization projects, integrated water management and improvement of fuel quality, among others. ● Social investment resources for regional development and community well-being amount to COP $472 trillion focused on road infrastructure, education, and access to public services such as water and gas. ● More than COP $405 trillion will be allocated to science, technology, and innovation projects, essential to leverage business development and catalyze advances in technologies for the energy transition. ● The plan generates competitive returns at brent levels of $80 USD/Bl, with a ROACE of more than 10% , EBITDA margin of more than 40% and transfers to the nation of more than COP $40 trillion in 2023.

Exhibit 1. Consolidated compani

Exhibit 1. Consolidated companies, associates, and joint ventures (Unaudited)	9 Months Ended
	Sep. 30, 2022
Exhibit 1. Consolidated companies, associates, and joint ventures (Unaudited)
Exhibit 1. Consolidated companies, associates, and joint ventures (Unaudited)	Exhibit 1. Consolidated companies, associates, and joint ventures (Unaudited) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit (loss) ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ Total ​ Total Company Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ period ​ assets ​ liabilities Subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Refinería de Cartagena S.A.S. U.S. Dollar 100 % Hydrocarbons refining, marketing and distribution Colombia Colombia 20,605,032 (421,262) 39,779,436 19,174,404 Cenit transporte y logística de hidrocarburos S.A.S. ​ Colombian peso ​ 100 % Storage and transportation through hydrocarbon pipelines ​ Colombia ​ Colombia ​ 15,163,439 ​ 3,382,807 ​ 17,249,389 ​ 2,085,950 ​ Ecopetrol Global Energy S.L.U. ​ U.S. Dollar ​ 100 % Investment vehicle ​ Spain ​ Spain ​ 15,014,671 ​ 603,348 ​ 15,014,712 ​ 41 ​ Oleoducto Central S.A. - Ocensa ​ U.S. Dollar ​ 72.65 % Transportation through hydrocarbon pipelines ​ Colombia ​ Colombia ​ 3,666,652 ​ 1,912,225 ​ 7,877,072 ​ 4,210,420 ​ Hocol Petroleum Limited. U.S. Dollar 100 % Investment vehicle Bermuda Bermuda 4,685,585 286,365 4,680,301 (5,284) Ecopetrol América LLC. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 2,592,569 19,295 3,141,427 548,858 Hocol S.A. U.S. Dollar 100 % Exploration, exploitation, and production of hydrocarbons Cayman Islands Colombia 4,115,544 293,019 5,774,738 1,659,194 Esenttia S.A. U.S. Dollar 100 % Production and commercialization of polypropylene resin Colombia Colombia 2,720,871 184,905 3,631,698 910,827 Ecopetrol Capital AG U.S. Dollar 100 % Collection of surpluses from, and providing funds to, companies of the Ecopetrol Business Group Switzerland Switzerland 2,990,763 193,324 10,725,300 7,734,537 Oleoducto Bicentenario de Colombia S.A.S. Colombian peso 100 % Pipeline transportation of crude oil Colombia Colombia 1,290,918 159,653 2,239,345 948,427 Oleoducto de Colombia S. A. - ODC Colombian peso 73 % Pipeline transportation of crude oil Colombia Colombia 359,650 299,535 729,015 369,365 Black Gold Re Ltd. U.S. Dollar 100 % Reaseguradora para compañías del Grupo Empresarial Ecopetrol Bermuda Bermuda 1,156,174 18,212 1,628,764 472,590 Andean Chemicals Ltd. U.S. Dollar 100 % Investment vehicle Bermuda Bermuda 1,931,217 90,881 1,931,820 603 Oleoducto de los Llanos Orientales S. A. - ODL Colombian peso 65 % Pipeline transportation of crude oil Panama Colombia 657,625 349,191 1,474,252 816,627 Interconexión Eléctrica S.A. E.S.P. Colombian peso 51.41 % -Provision of the public electricity transmission service - Development of infrastructure projects and their commercial exploitation and - Software development, Information technology and telecommunications activities and services Colombia Latin America 26,679,398 1,769,822 71,831,521 45,152,123 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) for ​ Total ​ Total Company Currency Ecopetrol Activity Domicile operations Net equity the period assets liabilities Inversiones de Gases de Colombia S.A. Invercolsa S.A. ​ Colombian peso ​ 51.88 % Holding with investments in transportation and distribution companies of natural gas and LPG in Colombia ​ Colombia ​ Colombia ​ 534,939 ​ 201,657 ​ 690,883 ​ 155,944 Alcanos de Colombia S.A. E.S.P. (1) Colombian peso 29.61 % Provision of the home public service of fuel gas, the construction and operation of gas pipelines, distribution networks, regulation, measurement, and compression stations. Colombia Colombia 361,893 99,578 778,549 416,656 Metrogas de Colombia S.A E.S.P. (1) Colombian peso 33.49 % Provision of the public service of commercialization and distribution of fuel gas; the exploration, exploitation, storage, use, transportation, refining, purchase, sale and distribution of hydrocarbons and their derivatives. Colombia Colombia 62,426 11,701 128,027 65,601 Gases del Oriente S.A. E.S.P. (1) Colombian peso 48.50 % Provision of the home public service of fuel gas distribution and the development of all complementary activities to the provision of said service. Colombia Colombia 105,148 26,826 208,678 103,530 Promotora de Gases del Sur S.A. E.S.P. (1) ​ Colombian peso ​ 31.44 % Promote the linking of national or foreign capital, public or private, to achieve the gas massification project. ​ Colombia ​ Colombia ​ 56,341 ​ 20,694 ​ 87,347 ​ 31,006 Combustibles Líquidos de Colombia S.A E.S.P. (1) ​ Colombian peso ​ 41.61 % Wholesale commercialization of fuel gas, the provision of the home public LPG distribution service and the development of complementary activities to the provision of said service. ​ Colombia ​ Colombia ​ 60,946 ​ 1,982 ​ 86,965 ​ 26,019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit (loss) ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ period ​ assets ​ liabilities Ecopetrol USA Inc. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 12,942,797 951,305 12,964,617 21,820 Ecopetrol Permian LLC. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 8,186,502 935,866 8,750,801 564,299 Ecopetrol Oleo é Gas do Brasil Ltda. Real 100 % Hydrocarbons exploration and exploitation Brazil Brazil 1,953,495 (335,789) 1,981,669 28,174 Esenttia Masterbatch Ltda. ​ Colombian peso ​ 100 % Manufacture of polypropylene compounds and masterbatches ​ Colombia ​ Colombia ​ 390,328 ​ 234,728 ​ 524,679 ​ 134,351 Ecopetrol del Perú S. A. ​ U.S. Dollar ​ 100 % Hydrocarbons exploration and exploitation ​ Peru ​ Peru ​ 70,365 ​ (75) ​ 71,994 ​ 1,629 ECP Hidrocarburos de México S.A. de C.V. ​ U.S. Dollar ​ 100 % Offshore exploration ​ Mexico ​ Mexico ​ 47,635 ​ (11,296) ​ 54,563 ​ 6,928 Ecopetrol Costa Afuera S.A.S. ​ Colombian peso ​ 100 % Offshore exploration ​ Colombia ​ Colombia ​ 12,973 ​ (473) ​ 13,270 ​ 297 Esenttia Resinas del Perú SAC U.S. Dollar 100 % Commercialization polypropylene resins and masterbatches Peru Peru 15,971 1,475 67,742 51,771 Topili Servicios Administrativos S de RL De CV. Mexican pesos 100 % Specialized management services Mexico Mexico 17 (32) 22 5 Kalixpan Servicios Técnicos S de RL De CV. Mexican pesos 100 % Specialized services related to oil and gas industry Mexico Mexico 27 (30) 32 5 Ecopetrol Singapore PTE. LTD Singapore dollar 100 % Holding company with investment in an international trading company for crude oil and refined products Singapore Asia 110,014 119,263 110,135 121 Ecopetrol Trading Asia PTE. LTD Singapore dollar 100 % International marketing of crude oil and refined products Singapore Asia 110,125 119,367 2,845,291 2,735,166 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ Geographic ​ Profit (loss) ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ Total ​ Total Company ​ currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ period ​ assets ​ liabilities Associates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Serviport S.A. (2) Colombian peso 49 % Services to support the loading and unloading of oil trucks, supply of equipment for the same purpose, technical inspections, and load measurements Colombia Colombia 17,139 (103) 39,452 22,313 Sociedad Portuaria Olefinas y Derivados S.A. (3) Colombian peso 50 % Construction, use, maintenance, adaptation and administration of port facilities, ports, private docks, or service to the public Colombia Colombia 4,628 589 7,888 3,260 Joint ventures Equion Energía Limited U.S. Dollar 51 % Hydrocarbons exploration and exploitation United Kingdom Colombia 1,470,547 10,820 1,551,795 81,248 Ecodiesel Colombia S.A. (3) Colombian peso 50 % Production, commercialization and distribution of biofuels and oleochemicals Colombia Colombia 123,872 45,918 234,961 111,089 ​ (1) Indirect participation through Inversiones de Gases de Colombia S.A. - Invercolsa S.A. (2) Information available as of August 31, 2022, the investment is totally impaired. (3) Information available as of August 31, 2022.

Exhibit 2. Consolidated compani

Exhibit 2. Consolidated companies, associates, and joint ventures - Interconexion Electrica S.A. E.S.P.	9 Months Ended
	Sep. 30, 2022
Exhibit 2. Consolidated companies, associates, and joint ventures - Interconexion Electrica S.A. E.S.P.
Exhibit 2. Consolidated companies, associates, and joint ventures - Interconexion Electrica S.A. E.S.P.	Exhibit 2. Consolidated companies, associates, and joint ventures – Interconexión Eléctrica S.A. E.S.P. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ Geographic ​ ​ Profit (loss) ​ ​ ​ ​ ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ ​ ​ Total Company ISA Activity Domicile operations Net equity period Total assets liabilities Subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consorcio Transmantaro 60.00 % Electric power ​ Peru Peru 2,047,606 ​ 210,796 ​ 8,476,483 6,428,877 Interligação Eléctrica Evrecy 35.82 % Electric power ​ Brazil Brazil 204,913 ​ (42,116) ​ 225,450 20,537 Fundo de Investimento Assis 35.81 % Trust - Special Purpose Entity ​ Brazil Brazil 121,919 ​ 4,269 ​ 121,919 — Fundo de Investimento Barra Bonita Renda Fixa Referenciado 35.77 % Trust - Special Purpose Entity ​ Brazil Brazil 11,873 ​ 2,479 ​ 11,873 — Fundo de Investimento Referenciado di Bandeirantes 17.06 % Trust - Special Purpose Entity ​ Brazil Brazil 341,888 ​ 16,468 ​ 341,888 — Fundo de Investimento Xavantes Referenciado di 15.40 % Trust - Special Purpose Entity ​ Brazil Brazil 522,517 ​ 35,529 ​ 522,517 — Interconexiones Viales 65.00 % Roads ​ Chile Chile 3,044 ​ (2,650) ​ 3,656 612 Interligação Elétrica Aguapeí 35.82 % Electric power ​ Brazil Brazil 543,971 ​ 68,226 ​ 605,626 61,655 Interligação Elétrica Biguaçu 35.82 % Electric power ​ Brazil Brazil 357,213 ​ 29,756 ​ 427,764 70,551 Interligação Elétrica De Minas Gerais 35.82 % Electric power ​ Brazil Brazil 271,566 ​ (33,417) ​ 298,559 26,993 Interligação Elétrica Itapura 35.82 % Electric power ​ Brazil Brazil 175,044 ​ 20,631 ​ 188,340 13,296 Interligação Elétrica Itaquerê 35.82 % Electric power ​ Brazil Brazil 464,935 ​ 44,866 ​ 545,366 80,431 Interligação Elétrica Itaúnes 35.82 % Electric power ​ Brazil Brazil 426,261 ​ 39,039 ​ 460,751 34,490 Interligação Elétrica Norte E Nordeste 35.82 % Electric power ​ Brazil Brazil 314,059 ​ 26,937 ​ 450,167 136,108 Interligação Elétrica Pinheiros 35.82 % Electric power ​ Brazil Brazil 550,509 ​ 57,631 ​ 615,028 64,519 Interligação Elétrica Riacho Grande 35.82 % Electric power ​ Brazil Brazil 76,184 ​ (1,243) ​ 84,574 8,390 Interligação Elétrica Serra Do Japi 35.82 % Electric power ​ Brazil Brazil 466,645 ​ 51,278 ​ 522,507 55,862 Interligação Elétrica Sul 35.82 % Electric power ​ Brazil Brazil 183,835 ​ 9,819 ​ 209,914 26,079 Interligação Elétrica Tibagi 35.82 % Electric power ​ Brazil Brazil 201,486 ​ 13,391 ​ 234,054 32,568 Internexa 99.42 % Information and communications technologies ​ Colombia Colombia 113,389 ​ (9,866) ​ 549,217 435,828 Transamerican Telecomunication S.A. 99.42 % Information and communications technologies ​ Argentina Argentina 20,908 ​ (2,265) ​ 43,213 22,305 Internexa Brasil Operadora de Telecomunicações 99.42 % Information and communications technologies ​ Brazil Brazil 41,658 ​ (22,433) ​ 291,102 249,444 Internexa Chile 98.43 % Information and communications technologies ​ Chile Chile 23,835 ​ 1,889 ​ 78,272 54,437 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ Geographic ​ ​ ​ Profit (loss) ​ ​ ​ ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ Total ​ Total Company ISA Activity Domicile operations ​ Net equity ​ period ​ assets ​ liabilities Internexa Participações 99.42 % Investment vehicle ​ Brazil Brazil ​ 38,103 ​ (21,083) 38,933 830 Internexa Peru 99.42 % Information and communications technologies ​ Peru Peru ​ 75,418 ​ 4,033 394,048 318,630 ISA Bolivia 100.00 % Electric power ​ Bolivia Bolivia ​ 129,343 ​ 7,877 138,416 9,073 ISA Capital Do Brasil 100.00 % Investment vehicle ​ Brazil Brazil ​ 4,902,563 ​ 536,782 4,904,914 2,351 ISA CTEEP 35.82 % Electric power ​ Brazil Brazil ​ 13,609,080 ​ 1,493,200 25,918,741 12,309,661 ISA Interchile 100.00 % Electric power ​ Chile Chile ​ 1,400,049 ​ (25,287) 6,961,298 5,561,249 ISA Intercolombia 100.00 % Electric power ​ Colombia Colombia ​ 94,919 ​ 36,169 331,964 237,045 ISA Intervial Chile 100.00 % Roads ​ Chile Chile ​ 3,294,754 ​ 240,366 4,099,171 804,417 ISA Intervial Colombia 100.00 % Roads ​ Colombia Colombia ​ 579 ​ 13 579 - ISA Inversiones Chile 100.00 % Investment vehicle ​ Chile Chile ​ 4,007,871 ​ 245,561 4,011,877 4,006 ISA Inversiones Costera Chile 100.00 % Investment vehicle ​ Chile Chile ​ (53,317) ​ (57,162) 611,625 664,942 ISA Inversiones Tolten 100.00 % Investment vehicle ​ Chile Chile ​ 40 ​ (3) 40 - ISA Investimentos E Participações 100.00 % Investment vehicle ​ Brazil Brazil ​ 1,089,564 ​ 154,558 1,089,591 27 ISA Perú 99.99 % Electric power ​ Peru Peru ​ 223,977 ​ 20,603 1,107,192 883,215 ISA REP 60.00 % Electric power ​ Peru Peru ​ 638,585 ​ 196,436 2,173,961 1,535,376 ISA Transelca 100.00 % Electric power ​ Colombia Colombia ​ 956,311 ​ 166,923 1,755,872 799,561 Linear Systems RE 100.00 % Other businesses ​ Bermudas Bermudas ​ 33,188 ​ 3,523 98,499 65,311 Proyectos de Infraestructura del Perú 100.00 % Electric power ​ Peru Peru ​ 17,147 ​ 4,629 137,825 120,678 Ruta Costera 100.00 % Roads ​ Colombia Colombia ​ 176,642 ​ (12,644) 2,580,975 2,404,333 Ruta de La Araucanía 100.00 % Roads ​ Chile Chile ​ 337,645 ​ 48,713 653,193 315,548 Ruta de Los Ríos 75.00 % Roads ​ Chile Chile ​ 97,779 ​ 28,959 237,528 139,749 Ruta del Bosque 100.00 % Roads ​ Chile Chile ​ 92,730 ​ (19,445) 118,570 25,840 Ruta del Loa 100.00 % Roads ​ Chile Chile ​ 254,451 ​ 31,019 825,723 571,272 Ruta del Maipo 100.00 % Roads ​ Chile Chile ​ 2,241,823 ​ 209,465 7,222,823 4,981,000 Ruta del Maule 100.00 % Roads ​ Chile Chile ​ 4,863 ​ (4,657) 13,414 8,551 Sistemas Inteligentes en Red 99.77 % Other businesses ​ Colombia Colombia ​ 8,960 ​ 1,356 17,765 8,805 XM 99.73 % Electric power ​ Colombia Colombia ​ 37,818 ​ 8,836 280,987 243,169 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ Geographic ​ ​ Profit (loss) ​ ​ ​ ​ ​ ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ ​ ​ Total Company ​ ISA Activity Domicile ​ operations ​ Net equity period Total assets liabilities Joint ventures Interligação Elétrica do Madeira 51.00 % Energy transport Brazil Brazil ​ 3,254,901 295,254 6,055,398 2,800,497 Interligação Elétrica Garanhuns 51.00 % Energy transport Brazil Brazil ​ 854,101 139,573 1,224,720 370,619 Interligação Elétrica Paraguaçu 50.00 % Energy transport Brazil Brazil ​ 937,376 112,230 1,350,712 413,336 Interligação Elétrica Aimorés 50.00 % Energy transport Brazil Brazil ​ 622,194 92,762 896,390 274,196 Interligação Elétrica Ivaí 50.00 % Energy transport Brazil Brazil ​ 699,677 73,148 3,324,360 2,624,683 Transmissora Aliança de Energia Elétrica 14.88 % Energy transport Brazil Brazil ​ 5,835,107 1,139,815 13,533,058 7,697,951 Interconexión Eléctrica Colombia Panamá-Panamá 50.00 % Energy transport Panama Panama ​ 32,317 (21,722) 33,280 963 Interconexión Eléctrica Colombia Panamá Colombia 1.17 % Energy transport Colombia Colombia ​ 267 (2) 268 1 Transnexa (1) 50.00 % Telecommunications transport Ecuador Ecuador ​ — — — — Derivex 40.35 % Manage the negotiation system of operations on derivative financial instruments of electrical energy Colombia Colombia ​ 207 (666) 207 — Parques del Río 33.00 % Roads Colombia Colombia ​ 110 (23) 110 — Conexión Kimal Lo Aguirre S.A. ​ 33.33 % Energy transport ​ Chile ​ Chile ​ 119,475 ​ — ​ 119,475 ​ — Associates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ATP Tower Holdings 24.70 % Telecommunications transport United States of America United States of America ​ 1,856,906 (108,497) 4,166,273 2,309,367 (1)

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	9 Months Ended
	Sep. 30, 2022
IFRS Statement [Line Items]
Schedule of Cash and cash equivalents	​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Banks and corporations 8,976,534 11,080,569 Short–term investments 3,939,317 3,467,859 Cash 1,897 1,478 ​ 12,917,748 14,549,906 ​

Trade and other receivables (Ta

Trade and other receivables (Tables)	9 Months Ended
	Sep. 30, 2022
Trade and other receivables
Schedule of trade and other receivables, net	​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Current ​ Customers Foreign 4,037,880 3,222,837 Domestic 3,409,558 2,917,305 Concessions (1) ​ 4,361,181 ​ 3,370,644 Fuel Price stabilization fund (2) 20,443,367 7,824,788 Accounts receivable from employees 104,610 106,547 Industrial services 53,666 32,096 Related parties (Note 31) ​ 179,948 ​ 9,355 Other 961,184 965,310 ​ 33,551,394 18,448,882 Non–current Customers ​ ​ ​ ​ Foreign ​ 144,481 ​ 36,965 Domestic ​ 54,051 ​ 178,552 Concessions (1) ​ 25,215,126 ​ 21,259,519 Accounts receivable from employees 545,168 534,051 Related parties (Note 31) ​ 335 ​ 335 Other (3) 2,534,185 2,150,294 ​ 28,493,346 24,159,716 (1) Includes electric power transportation concessions and roads. (2) Corresponds to the application of Resolution 180522 of March 29, 2010, and other regulations that modify and add it (Decree 1880 of 2014 and Decree 1068 of 2015), which establishes the procedure to recognize the subsidy for refiners and importers of motor gasoline current and ACPM, and the methodology for calculating the net position (value generated between the parity price and the regulated price, which can be positive or negative). For 2022, the increase in accounts receivable is due to the increase in international indicators (brent reference price). During the period, the Ministry of Finance and Public Credit contributed approximately $7,461,088 in cash and $6,788,385 were offset from the Nation’s dividends provided by Ecopetrol’s earnings in 2021, which were declared in 2022. In accordance with what was expressed by the Ministry of Finance and Public Credit, the portion of the extraordinary dividend corresponding to the Nation was offset with the Stabilization Fund and, therefore, did not imply a cash outflow. (3) Corresponds mainly to accounts receivable from the Government of Brazil for employee benefits governed by Law 4819 of 1958 to ISA CTEEP, and crude loan agreements of the Business Group for transportation systems. The gross value of these accounts receivable is $2,202,739 (2021: $1,772,101 ) and the provision for expected losses established, included in the provision line for expected credit losses, is $432,750 (2021: $368,299 ), for a net book value of $1,769,989 (2021: $1,403,802 ). The administration monitors the progress and developments related to the legal aspect of the matter and continuously evaluates the possible impacts on its financial statements.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2022
Inventories
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Crude oil (1) 4,184,242 3,305,965 Fuels and petrochemicals (2) 3,933,294 2,845,486 Materials for goods production 2,665,972 2,246,761 ​ 10,783,508 8,398,212 (1) The variation is mainly due to the increase in Brent prices. (2) The variation is mainly due to the increase of the international references prices and the receipt of fuel imports to accomplish with the national demand for fuels.

Other financial assets (Tables)

Other financial assets (Tables)	9 Months Ended
	Sep. 30, 2022
Other financial assets
Schedule of other financial assets	​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Assets measured at fair value Investment portfolio – Foreign currency 1,422,282 1,172,718 Investments in equity securities (1) 1,034,997 606,624 Investment portfolio – Local currency 382,670 ​ 759,892 Hedging instruments (2) 235,807 17,449 Assets measured at fair value through other comprehensive income ​ 2,627 ​ 2,789 ​ ​ 3,078,383 ​ 2,559,472 Assets measured at amortized cost (3) ​ 121,035 ​ 375,262 ​ 3,199,418 2,934,734 Current 2,234,862 1,627,150 Non–current 964,556 1,307,584 ​ 3,199,418 2,934,734 (1) Includes deposits in trust companies and restricted funds in Brazil, Peru, Chile, and Colombia. (2) Corresponds to swap contracts and a put option to hedge commodity price risk and forwards to hedge exchange rate risk. (3) Includes investments with maturities greater than 90 days, in Chile and Colombia.
Schedule of other financial assets recognized at fair value	The following is the classification of other financial assets recognized at fair value, corresponding to the investment portfolio: ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Level 1 1,446,757 834,057 Level 2 1,631,626 1,725,415 ​ 3,078,383 2,559,472

Taxes (Tables)

Taxes (Tables)	9 Months Ended
	Sep. 30, 2022
Taxes
Schedule of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended ​ ​ September 30, ​ 2022 2021 ​ ​ (Unaudited) Current income tax expense 13,586,947 4,246,737 Deferred income tax expense 2,613,356 1,817,892 Adjustments to prior years’ current and deferred tax 13,762 (18,960) Income tax expense 16,214,065 6,045,669

Other assets (Tables)

Other assets (Tables)	9 Months Ended
	Sep. 30, 2022
Other assets
Schedule of other assets	​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Current Prepaid expenses ​ 814,709 ​ 549,456 Partners in joint operations 762,155 639,199 Advanced payments to contractors and suppliers 705,451 591,990 Trust funds 455,889 527,520 Related parties (Note 31) 889 1,386 Other 24,475 23,540 ​ 2,763,568 2,333,091 Non–current ​ ​ Wells abandonment and pension funds 563,552 461,729 Trust funds 236,449 176,781 Employee benefits 273,142 229,969 Advanced payments and deposits 97,022 92,815 Judicial deposits and judicial attachments 52,816 48,845 Other 166,246 188,224 ​ 1,389,227 1,198,363

Business combination (Tables)

Business combination (Tables)	9 Months Ended
	Sep. 30, 2022
Business combination
Summary of the fair value of the identifiable assets and liabilities of ISA as 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 5,014,749 Properties, plant, and equipment 17,486,901 Right of use assets 230,207 Intangibles 13,903,491 Deferred tax assets 2,075,849 Total assets 73,556,395 Liabilities Loans 27,203,432 Leases 255,503 Accounts payable 1,358,692 Employee Benefits 973,210 Tax liabilities 1,897,786 Provisions and contingencies 947,883 Other liabilities 1,708,349 Deferred tax liabilities 9,856,379 Total liabilities 44,201,234 Total identifiable net assets 29,355,161 Non-controlling interest (18,734,241) Goodwill derived from the acquisition 3,279,916 Consideration transferred 13,900,836

Investments in associates and_2

Investments in associates and joint ventures (Tables)	9 Months Ended
	Sep. 30, 2022
Investments in associates and joint ventures
Schedule of investment entities	​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ (Unaudited) Join ventures ​ ​ ​ ​ Equion Energía Limited 1,104,034 1,860,634 Interligação Elétrica do Madeira S.A. ​ 1,771,903 ​ 1,374,483 Transmissora Aliança de Energia Elétrica S.A. ​ 1,745,002 ​ 1,496,060 Interligação Elétrica Paraguaçu S.A. ​ 569,717 ​ 412,526 Interligação Elétrica Ivaí S.A. ​ 417,904 ​ 288,224 Interligação Elétrica Garanhuns S.A. ​ 501,036 ​ 363,498 Interligação Elétrica Aimorés S.A. ​ 383,533 ​ 278,408 Conexión Kimal Lo Aguirre S.A. (1) ​ 119,475 ​ — Ecodiesel Colombia S.A. ​ 61,936 ​ 64,019 Interconexión Eléctrica Colombia Panamá S.A. ​ 17,608 ​ 8,737 Transnexa S.A. E.M.A. ​ 8,545 ​ 8,545 Derivex S.A. ​ 179 ​ 448 Parques de Rio ​ 85 ​ 93 Interconexión Eléctrica Colombia Panamá S.A.S E.S.P. ​ 4 ​ 4 ​ 6,700,961 6,155,679 Less impairment: Equion Energía Limited (398,104) (398,104) Transnexa S.A. E.M.A. (8,545) (8,545) ​ 6,294,312 5,749,030 Associates ​ Gases del Caribe S.A. E.S.P. 1,466,842 1,515,838 ATP Tower Holdings 893,993 813,697 Gas Natural del Oriente S.A. E.S.P. 143,584 142,508 Gases de la Guajira S.A. E.S.P. ​ 68,490 ​ 69,461 E2 Energía Eficiente S.A. E.S.P. ​ 34,755 ​ 35,062 Extrucol S.A. ​ 27,911 ​ 28,578 Serviport S.A. ​ 8,398 ​ 9,399 Sociedad Portuaria Olefinas ​ 3,625 ​ 3,012 ​ 2,647,598 2,617,555 Less impairment: Serviport S.A. (9,399) (9,399) ​ 2,638,199 2,608,156 ​ 8,932,511 8,357,186 (1) In July 2022, ISA Inversiones Chile, Transelec, and China Southern Power Grid International (CSG) established the company Conexión Kimal Lo Aguirre S.A. This company will build and operate the Kimal-Lo Aguirre project in Chile obtained in 2021. ​
Schedule of movement of investments in associates and joint ventures	​ ​ ​ ​ ​ ​ ​ ​ ​ Associates Join ventures Total Balance as of December 31, 2021 2,608,156 5,749,030 8,357,186 Capitalizations (1) ​ — ​ 209,658 ​ 209,658 Equity method recognized in: ​ ​ ​ ​ ​ ​ Profit or loss 117,635 539,045 656,680 Equity ​ 103,059 ​ 913,159 ​ 1,016,218 Dividends declared (2) (190,651) (1,116,580) (1,307,231) Balance as of September 30, 2022 (Unaudited) 2,638,199 6,294,312 8,932,511

Property, plant and equipment (

Property, plant and equipment (Tables)	9 Months Ended
	Sep. 30, 2022
Property, plant, and equipment
Schedule of plant and equipment and depreciation and impairment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pipelines, ​ ​ ​ ​ ​ ​ ​ Plant and ​ networks, and ​ Work in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ equipment ​ lines ​ progress ​ Buildings ​ Lands ​ Other ​ Total Cost Balance as of December 31, 2021 57,452,843 55,402,633 10,566,114 9,660,227 4,800,297 3,018,660 140,900,774 Additions/capitalizations (1) 1,634,109 858,368 2,399,373 267,638 3,021 97,396 5,259,905 Abandonment cost update (Note 23) ​ — ​ (137,525) ​ — ​ — ​ — ​ — ​ (137,525) Capitalized financial interests (2) ​ 47,256 ​ 17,463 ​ 57,034 ​ 5,580 ​ 115 ​ 1,602 ​ 129,050 Exchange differences capitalized 413 153 499 49 1 14 1,129 Disposals ​ (472,252) ​ (175,679) ​ (10,461) ​ (39,234) ​ (30) ​ (29,227) ​ (726,883) (Decrease) increase related to business combination (Note 12) ​ — ​ (176,451) ​ — ​ 37,542 ​ (14,649) ​ — ​ (153,558) Effect of adopting new standards (3) ​ — ​ — ​ 18,013 ​ — ​ — ​ — ​ 18,013 Foreign currency translation 5,328,047 2,639,349 251,649 408,531 288,802 160,860 9,077,238 Reclassifications/transfers (3,725,364) 722,699 (794,664) 3,275,900 (4,872) (35,389) (561,690) Balance as of September 30, 2022 (Unaudited) ​ 60,265,052 ​ 59,151,010 ​ 12,487,557 ​ 13,616,233 ​ 5,072,685 ​ 3,213,916 ​ 153,806,453 ​ Accumulated depreciation and impairment losses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) Depreciation expense (2,048,209) (1,724,015) — (288,150) — (118,253) (4,178,627) Impairment loss (Note 18) (1,965) — — (3,551) — — (5,516) Disposals ​ 456,383 ​ 159,015 ​ — ​ 34,151 ​ — ​ 23,999 ​ 673,548 Foreign currency translation (2,015,610) (989,196) (1,705) (126,549) (6,053) (87,650) (3,226,763) Reclassifications/transfers 1,307,058 (35,315) 7,004 (762,361) — (762) 515,624 Balance as of September 30, 2022 (Unaudited) ​ (27,001,180) ​ (22,254,563) ​ (1,274,301) ​ (5,205,713) ​ (73,664) ​ (1,236,561) ​ (57,045,982) 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 Balance as of September 30, 2022 (Unaudited) 33,263,872 36,896,447 11,213,256 8,410,520 4,999,021 1,977,355 96,760,471 (1) Mainly includes: i) Ecopetrol S.A. projects in courses associated with the Caño Sur, Castilla, Chichimene, Cusiana, and Rubiales fields, ii) Interconexión Eléctrica S.A. E.S.P projects in progress: Caribbean Coast Interconnection, UPME 09-2016 Copey–Cuestecitas, UPME 06-2018 New Substation El Rio 220kV, UPME 07–2017 Sabanalarga – Bolívar 500kV, UPME 04-2019 Transmission Line La Loma - Sogamoso 500kV, Second Circuit Copey - Cuestecitas 500kV project, and Alpha and Beta wind farm connection project new Cuestecitas 500kV substation. (2) Financial interest is capitalized based on the weighted average rate of loan costs. (3) Corresponds to the effect of adopting the IAS 16 amendment in Hocol S.A.

Natural and environmental res_2

Natural and environmental resources (Tables)	9 Months Ended
	Sep. 30, 2022
Natural and environmental resources.
Schedule of detailed information about natural and environmental	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oil and gas ​ Assets retirement ​ Exploration and ​ ​ ​ investments obligations evaluation Total Cost Balance as of December 31, 2021 76,229,481 8,172,698 7,212,305 91,614,484 Additions/capitalizations (1) 4,208,480 — 3,264,075 7,472,555 Abandonment cost update (Note 23) ​ — ​ (51,227) ​ — ​ (51,227) Disposals (2) (759,178) (107,815) (4,505) (871,498) Write off exploratory assets and dry wells (3) ​ — ​ — ​ (436,980) ​ (436,980) Capitalized financial interests (4) 75,504 — 62,317 137,821 Exchange differences capitalized 660 — 545 1,205 Effect of adopting new standards (5) ​ — ​ — ​ 48,173 ​ 48,173 Foreign currency translation 3,218,959 95,721 541,338 3,856,018 Reclassifications/transfers 1,080,686 (9,097) (1,095,069) (23,480) Balance as of September 30, 2022 (Unaudited) 84,054,592 8,100,280 9,592,199 101,747,071 ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depletion and impairment losses Balance as of December 31, 2021 (51,316,344) (4,230,674) (157,622) (55,704,640) Depletion expense ​ (3,286,865) ​ (522,165) ​ — ​ (3,809,030) Disposals 419,374 89,405 — 508,779 Foreign currency translation (1,721,997) (62,189) — (1,784,186) Reclassifications/transfers 43,046 (41,502) 5,760 7,304 Balance as of September 30, 2022 (Unaudited) (55,862,786) (4,767,125) (151,862) (60,781,773) ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of December 31, 2021 24,913,137 3,942,024 7,054,683 35,909,844 Balance as of September 30, 2022 (Unaudited) 28,191,806 3,333,155 9,440,337 40,965,298 (1) Mainly includes a) Ecopetrol Permian for investments made in the drilling of wells and construction of facilities executed in RODEO, b) Ecopetrol S.A. by Cantagallo, Casabe, Castilla, Floreña, Provincia, Rubiales, and exploratory wells in Cupiagua and Uchuva c) Hocol S.A. mainly from VIM8, Guarrojo, Guajira, VIM8, SN-15, SSJN1, and Cicuco. (2) It mainly corresponds to the exit of Rygberg's association contract in Ecopetrol America. (3) It mainly includes a) Saturno block in Ecopetrol Brazil related to the entry bond, b) dry wells in Hocol S.A.: Bololó and Pilonera, and failure of Chinchorro well, and c) dry well in Ecopetrol S.A.: Boranda Norte 1. (4) Financial interest is capitalized based on the weighted average rate of loan costs. (5) Corresponds to the effect of adoption of the IAS 16 amendment, includes Ecopetrol S.A. and Hocol S. A..

Right-of-use assets (Tables)

Right-of-use assets (Tables)	9 Months Ended
	Sep. 30, 2022
Right-of-use assets.
Schedule of right-of-use assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets ​ ​ ​ ​ ​ Right-of- Lease ​ ​ Lands and ​ Plant and ​ ​ use liabilities ​ ​ Pipelines ​ buildings ​ equipment ​ Vehicles ​ assets ​ (Note 20.1) Balance as of December 31, 2021 77,019 199,070 121,384 99,205 496,678 1,165,099 Additions 33,688 69,656 61,004 85,226 249,574 249,574 Amortization of the period (18,133) (43,240) (42,356) (71,827) (175,556) — Remeasurements(1) (110) (5,828) 5,105 11,952 11,119 16,183 Disposals (3,109) (1,599) (17,966) (214) (22,888) (23,280) Finance cost — — — — — 50,366 Payment of capital and interests — — — — — (311,696) Reclassifications/transfers ​ (540) ​ 208 ​ 551 ​ (43) ​ 176 ​ (2,238) Exchange difference 5,526 24,106 4,445 12,152 46,229 52,195 Balance as of September 30, 2022 (Unaudited) 94,341 242,373 132,167 136,451 605,332 1,196,203 (1) Corresponds mainly to updating rates and conditions in lease contracts

Intangible assets (Tables)

Intangible assets (Tables)	9 Months Ended
	Sep. 30, 2022
Intangible assets
Schedule of intangibles and their amortization and impairment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Licenses ​ ​ ​ ​ ​ ​ and ​ Other ​ Concessions ​ ​ ​ ​ ​ ​ software ​ intangibles ​ and rights ​ Easements ​ Total Cost ​ ​ Balance as of December 31, 2021 1,118,811 940,080 13,503,441 ​ 1,733,379 17,295,711 Additions/capitalizations ​ 198,295 ​ 11,507 ​ 488,761 ​ 3,434 ​ 701,997 Increase (decrease) related to business combination (Note 12) ​ — ​ 12,670 ​ (117,270) ​ (318,389) ​ (422,989) Disposals ​ (6,208) ​ — ​ (95,875) ​ — ​ (102,083) Foreign currency translation 46,737 210,171 2,250,536 ​ 57,336 2,564,780 Reclassifications/transfers 4,158 (1,068) 530 ​ 16,958 20,578 Balance as of September 30, 2022 (Unaudited) 1,361,793 1,173,360 16,030,123 ​ 1,492,718 20,057,994 Accumulated amortization and impairment losses ​ ​ ​ ​ Balance as of December 31, 2021 (689,817) (153,292) (878,125) ​ (65,961) (1,787,195) Amortization expense (94,266) (22,889) (472,193) ​ (4,265) (593,613) Disposals 3,231 — 95,875 ​ — 99,106 Foreign currency translation (39,181) (147,467) (579,720) ​ — (766,368) Reclassifications/transfers 107 (274) 25 ​ — (142) Balance as of September 30, 2022 (Unaudited) (819,926) (323,922) (1,834,138) ​ (70,226) (3,048,212) Balance as of December 31, 2021 428,994 786,788 12,625,316 ​ 1,667,418 15,508,516 Balance as of September 30, 2022 (Unaudited) 541,867 849,438 14,195,985 ​ 1,422,492 ​ 17,009,782

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill
Schedule of goodwill in acquisitions of subsidiaries	​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2022 2021 ​ ​ (Unaudited) ​ ​ Interconexión Eléctrica S.A. E.S.P. (1) ​ 3,643,922 ​ 3,092,045 Oleoducto Central S.A. 683,496 683,496 Hocol Petroleum Ltd 537,598 537,598 Invercolsa S.A. ​ 434,357 ​ 434,357 Andean Chemical Limited 127,812 127,812 Esenttia S.A. 108,137 108,137 ​ 5,535,322 4,983,445 Less Impairment Hocol Petroleum Ltd (297,121) (297,121) Total 5,238,201 4,686,324

Loans and borrowings (Tables)

Loans and borrowings (Tables)	9 Months Ended
	Sep. 30, 2022
Loans and borrowings
Schedule of composition of loans and borrowings	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate* ​ September 30, ​ December 31, ​ 2022 2021 2022 2021 ​ ​ ​ ​ ​ ​ (Unaudited) ​ ​ Local currency ​ ​ ​ ​ Bonds 9.8 % 9.1 % 5,197,949 4,941,024 Syndicate loans 11.8 % 5.4 % 443,541 600,452 Lease liabilities (1) ​ 7.6 % 6.3 % 829,123 ​ 823,922 Commercial loans and others ​ 10.2 % 7.8 % 1,775,097 ​ 1,516,377 ​ ​ ​ ​ ​ 8,245,710 7,881,775 Foreign currency Bonds (2) 6.1 % 5.7 % 77,547,079 66,603,695 Commercial and syndicate loans 4.6 % 3.5 % 20,810,085 18,750,580 Loans from related parties (Nota 31) 2.7 % 0.3 % 770,036 1,483,701 Lease liabilities (1) 6.0 % 6.0 % 367,080 341,177 ​ ​ ​ ​ ​ 99,494,280 87,179,153 ​ ​ ​ ​ ​ 107,739,990 95,060,928 Current ​ ​ ​ 22,614,434 9,206,283 Non–current ​ ​ ​ 85,125,556 85,854,645 ​ ​ ​ ​ ​ 107,739,990 95,060,928 * Weighted average effective interest rate for the end of each period. (1) Corresponds to the present value of the payments to be made during the term of the operating lease contracts for pipelines, tanks, real estate, and vehicles, recognized because of the implementation of IFRS 16 – Leases. See Note 16. (2) Corresponds to the increase in the exchange rate of $609 Colombian pesos per dollar.
Schedule of maturity of loans and borrowings	The following is the maturity profile of loans and borrowings as of September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Up to 1 year 1 – 5 years 5-10 years > 10 years Total Local currency Bonds 380,320 1,276,812 1,528,337 2,012,480 5,197,949 Syndicate loans 253,128 190,413 — — 443,541 Lease liabilities ​ 167,326 ​ 412,358 ​ 248,716 ​ 723 ​ 829,123 Commercial loans and others 283,806 565,368 619,110 306,813 1,775,097 ​ 1,084,580 2,444,951 2,396,163 2,320,016 8,245,710 Foreign currency ​ ​ ​ ​ ​ Bonds 11,776,966 25,921,456 22,370,391 17,478,266 77,547,079 Syndicate loans ​ 1,891,747 ​ 4,193,005 ​ 28,142 ​ — ​ 6,112,894 Commercial loans 6,977,769 7,325,784 266,320 127,318 14,697,191 Lease liabilities 113,336 220,051 33,693 — 367,080 Loans from related parties ​ 770,036 ​ — ​ — ​ — ​ 770,036 ​ 21,529,854 37,660,296 22,698,546 17,605,584 99,494,280 Balance as of September 30, 2022 (Unaudited) 22,614,434 40,105,247 25,094,709 19,925,600 107,739,990

Trade and other payables (Table

Trade and other payables (Tables)	9 Months Ended
	Sep. 30, 2022
Trade and other payables
Schedule of trade and other payables	​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Current ​ ​ ​ ​ Suppliers 11,780,282 10,470,260 Dividends payable (1) 1,958,736 58,668 Withholding tax 970,447 717,720 Partner's advances 900,259 1,060,349 Insurance and reinsurance 478,976 294,114 Deposits received from third parties 145,989 136,310 Related parties (Note 31) ​ 73,403 ​ 66,598 Agreements in transport contracts ​ 31,816 ​ 33,883 Hedging operations (2) 13,101 2,032 Various creditors 736,940 728,297 ​ 17,089,949 13,568,231 ​ ​ ​ ​ ​ Non-current ​ ​ ​ ​ Suppliers ​ 24,544 ​ 8,260 Various creditors 38,988 62,347 ​ 63,532 70,607 (1) Corresponds mainly to dividends payable by Ecopetrol S.A. for $1,589,000 (2021: $3,714 ), Interconexión Eléctrica S.A. $215,150 (2021: 53,976 ), Inversiones de Gases de Colombia S.A. $74,696 (2021: 978 ), Oleoducto de Colombia S.A. $45,155 , and Oleoducto de los Llanos Orientales S.A. $34,735 . (2) 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)	9 Months Ended
	Sep. 30, 2022
Provisions for employees' benefits
Schedule of provision balances for employee benefits	​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Post-employment benefits Health 6,751,292 6,636,809 Pension 3,748,424 2,159,530 Education 431,243 443,761 Bonds 515,969 320,833 Other plans 108,051 91,476 Termination benefits - Voluntary retirement plan 675,210 746,585 ​ 12,230,189 10,398,994 Social benefits and salaries 874,892 856,198 Other long-term benefits 135,209 123,853 ​ 13,240,290 11,379,045 Current 2,217,195 2,296,253 Non-current 11,023,095 9,082,792 ​ 13,240,290 11,379,045 ​

Accrued liabilities and provi_2

Accrued liabilities and provisions (Tables)	9 Months Ended
	Sep. 30, 2022
Accrued liabilities and provisions
Schedule of accrued liabilities and provisions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Abandonment ​ Environmental ​ ​ ​ and dismantling ​ ​ ​ contingencies ​ ​ ​ ​ costs ​ Litigations ​ and others ​ Total Balance as of December 31, 2021 11,890,319 703,966 1,637,922 14,232,207 Abandonment cost update (188,752) — — (188,752) Additions 842 55,573 290,573 346,988 Uses (433,543) (24,409) (203,844) (661,796) Financial cost 250,943 8,132 9,700 268,775 Foreign currency translation 142,899 53,342 70,517 266,758 Reversal of provision for sale of assets (1) (188,540) — — (188,540) Transfers 2,492 ​ (8,762) ​ (22,056) ​ (28,326) Balance as of September 30, 2022 (Unaudited) 11,476,660 787,842 1,782,812 14,047,314 Current 538,453 65,059 514,798 1,118,310 Non-current ​ 10,938,207 722,783 1,268,014 12,929,004 ​ ​ 11,476,660 787,842 1,782,812 14,047,314 (1) Corresponding to the provision for abandonment associated with the assets related to the participation of Ecopetrol S.A. in Casanare, Estero, Garcero, Orocué and Corocora Join Venture (CEGOC), which were sold to Perenco Oil and Gas Colombia. This transaction closed on August 26, 2022. ​

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity
Schedule of composition of the ecopetrol business group's reserves	​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Legal reserve 6,407,256 4,737,788 Fiscal and statutory reserves 509,082 509,082 Occasional reserves (1) 1,982,295 5,377,359 Total 8,898,633 10,624,229 (1) Ecopetrol's General Shareholders' Meeting, held on March 30, 2022, approved the 2021 profit distribution project, and recognized a reserve of $8,889,900 (2021: $5,377,359 ) to support financial sustainability of the Company and flexibility in the development of its strategy. The Extraordinary General Assembly of June 17, 2022, approved the modification of the destination of a part of the occasional reserve to distribute it as an extraordinary dividend for $6,907,605 . ​
Schedule of balance of movement of the equity reserves	​ ​ ​ ​ ​ ​ ​ September 30, September 30, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) Opening balance 10,624,229 9,635,136 Release of reserves (5,886,441) (5,066,156) Appropriation of reserves 11,068,450 6,055,249 Dividends declared ​ (6,907,605) ​ — Closing balance 8,898,633 10,624,229
Schedule of composition of the other comprehensive results attributable to the shareholders	​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Foreign currency translation and others (1) 25,569,813 17,244,256 Hedges of a net investment in a foreign operation (7,919,862) (4,364,466) Loss on defined benefit obligation (1,555,320) (517,278) Cash flow hedging - Future crude oil exports ​ (2,540,214) ​ (945,250) Cash flow hedging - Derivative financial instruments (20,687) (61,502) Financial instruments measured at fair value ​ 725 ​ 2,134 ​ 13,534,455 11,357,894 ​ (1)
Schedule of earnings per share	​ ​ ​ ​ ​ ​ ​ September 30, ​ 2022 2021 ​ ​ (Unaudited) Profit attributable to Ecopetrol’s shareholders ​ 24,770,909 ​ 10,217,081 Weighted average number of outstanding shares ​ 41,116,694,690 ​ 41,116,694,690 Net basic earnings per share (Colombian pesos) ​ 602.5 ​ 248.5

Revenue from contracts with c_2

Revenue from contracts with customers (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from contracts with customers
Schedule of detailed information of revenue from contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) National sales Mid-distillates (1) 28,031,166 11,431,003 Gasolines (1) 20,610,595 10,337,295 Natural gas (2) 3,016,677 2,280,859 Services 2,643,135 2,127,151 Electric power transmission services (3) 1,934,461 156,362 Plastic and rubber 1,216,431 1,185,041 L.P.G. and propane 807,235 613,302 Asphalts 634,240 446,739 Fuel gas Service 621,349 537,301 Roads and construction services (3) ​ 255,736 ​ 22,607 Aromatics ​ 242,045 ​ 176,646 Polyethylene ​ 220,975 ​ 272,295 Crude oil ​ 214,587 ​ 136,644 Fuel oil 4,499 ​ 20,920 Other income – Gas contracts ​ 2,679 ​ 5,527 Other products 506,575 284,853 Cash flow hedging (4) ​ — ​ (8) ​ 60,962,385 30,034,537 Foreign sales Crude oil (2) 43,946,601 22,608,325 Diesel ​ 1,896,842 ​ 2,935,295 Roads and construction services (3) 3,209,685 274,729 Electric power transmission services (3) ​ 3,750,829 ​ 505,048 Fuel oil ​ 3,628,416 ​ 1,634,934 Plastic and rubber 1,621,076 1,558,910 L.P.G. and propane 242,581 58,079 Natural gas ​ 189,665 ​ 39,172 Gasolines ​ 157,685 ​ — Cash flow hedging (4) ​ (968,534) ​ (231,014) Other products (5) 1,261,563 667,793 ​ 58,936,409 30,051,271 ​ 119,898,794 60,085,808 (1) Includes the value corresponding to the application of 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 establishes the procedure to recognize the subsidy for refiners and importers of regular 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 September 30, 2022, the value recognized for price differential corresponds to $26,584,199 (2021: $6,916,763 ). (2) With the implementation of the IAS 16 Amendment on the management of the sale of products obtained in the project stage or extensive tests mandatory as of January 1, 2022, the Group recognizes as of that date, the income received from the product of the sale of hydrocarbons in the stage prior to their declaration of commerciality of the oil fields. The cost related to these revenues is disclosed in Note 26 – Cost of sales. As of September 30, 2022, the value recognized for extensive tests is as follows: natural gas for national sales $34,197 and crude oil for foreign sales $104,493 . (3) Corresponds to the income derived from the energy transmission and road concession contracts of Interconexión Eléctrica S.A. E.S.P. (4) Includes the result of hedges for future exports (Note 30.3) for $( 576,875 ) (2021: ( 151,791 )) and operations with derivative financial instruments for $( 391,659 ) (2021: ( 79,231 )). (5) Includes income from telecommunications services provided by Interconexión Eléctrica S.A. E.S.P. and the sale of asphalt, and other products by other Group Companies.

Cost of sales (Tables)

Cost of sales (Tables)	9 Months Ended
	Sep. 30, 2022
Cost of sales
Schedule of cost of sales of non current assets	​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) Costs variables Imported products (1) 23,243,685 11,265,184 Purchases of crude in associations and concessions 11,712,144 6,801,926 Hydrocarbon purchases - ANH (2) 6,929,845 3,965,823 Depreciation, depletion, and amortization 4,985,749 4,956,510 Gas royalties in cash 1,073,435 750,987 Electric Energy 1,074,527 773,844 Hydrocarbon transportation services ​ 869,983 664,965 Purchases of other products and gas 879,966 581,821 Processing materials 828,599 643,876 Services contracted in association 239,872 201,624 Extensive tests ​ 43,289 ​ — Others (3) (1,505,246) (3,657,378) ​ 50,375,848 26,949,182 Fixed cost ​ ​ Depreciation and amortization 3,382,811 2,238,338 Maintenance 2,652,864 1,737,586 Construction services ​ 1,888,186 ​ 183,359 Labor costs 2,438,632 1,800,954 Contracted services 1,919,342 1,292,292 Contracted services in associations 1,175,197 919,203 Taxes and contributions 725,640 685,268 Materials and operating supplies 452,560 386,994 Hydrocarbon transportation services ​ 133,837 ​ 42,815 General costs 313,324 213,451 ​ 15,082,393 9,500,260 ​ 65,458,241 36,449,442 (1) Imported products correspond mainly to gasoline, naphtha, and diluent to facilitate the transportation of heavy crude oil. (2) Corresponds mainly to royalty crude purchases made by Ecopetrol from the National Hydrocarbons Agency (ANH), 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 (NRV) and iii) other capitalizable charges to projects. The variation corresponds to a higher level of sold inventories of crude oil.

Administrative, operation and p

Administrative, operation and project expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Administrative, operations and project expenses
Schedule of administrative, operation and project expenses	​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) Administration expenses General expenses 1,269,973 962,822 Labor expenses 1,208,844 856,232 Depreciation and amortization 314,566 74,294 Taxes 51,244 41,209 ​ 2,844,627 1,934,557 Operation and project expenses ​ ​ Commissions, fees, freights, and services 896,113 453,032 Taxes 562,837 349,726 Labor expenses 270,162 224,535 Exploration expenses 637,590 536,293 Depreciation and amortization 73,700 115,038 Fee for regulatory entities 123,128 114,843 Maintenance 82,440 119,253 Other ​ 187,553 ​ 80,363 ​ 2,833,523 1,993,083

Other operating income (expen_2

Other operating income (expense) (Tables)	9 Months Ended
	Sep. 30, 2022
Other operating income (expense).
Schedule of other operating income (expense)	​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) Litigation and contingencies ​ (310,406) ​ (400,136) Loss on sale of assets (1) (38,309) (56,548) Impairment of current assets (46,434) (18,795) Other income 92,478 39,922 ​ (302,671) (435,557) (1) It mainly corresponds to the end of Rygberg's association contract in Ecopetrol America, and the profit on the sale of the total participation of Ecopetrol S.A. in the Casanare, Estero, Garcero, Orocué and Corocora Association (CEGOC). This sale of fields was made to itse partner Perenco Oil and Gas Colombia.

Financial results (Tables)

Financial results (Tables)	9 Months Ended
	Sep. 30, 2022
Financial results
Schedule of finance income expense explanatory	​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, ​ 2022 2021 ​ ​ (Unaudited) Finance income Yields and interests 612,914 130,398 Results from financial assets 124,493 87,747 Gain on derivatives valuation/ settlement ​ 11,834 ​ 7,497 Other financial income 138,157 17,121 ​ 887,398 242,763 Financial expenses ​ ​ Financial cost of loans and borrowings (3,886,375) (1,867,718) Financial cost of other liabilities (1) (1,559,080) (698,534) Results from financial assets (125,493) (75,174) Other financial expenses (304,929) (132,869) ​ (5,875,877) (2,774,295) Foreign exchange ​ ​ ​ Foreign exchange loss ​ (377,527) ​ (10,387) Realized gain of other comprehensive income from the sale of joint ventures ​ — ​ 361,728 ​ ​ (377,527) ​ 351,341 ​ (5,366,006) (2,180,191) (1) It includes the financial expense for the updating of the liability for abandonment costs, and the interest, net of post-employment benefits and other long-term employee benefits.

Risk management (Tables)

Risk management (Tables)	9 Months Ended
	Sep. 30, 2022
Risk management
Schedule of book values of financial assets and liabilities denominated in foreign currency	​ ​ ​ ​ ​ ​ ​ September 30, December 31, (USD$ Millions) ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Cash and cash equivalents 454 388 Other financial assets 1,078 408 Trade receivables and payables 196 423 Loans and borrowings (15,886) (15,514) Other assets and liabilities 2 702 Net liability position (14,156) (13,593)
Schedule of sensitivity analysis for exchange rate risk	The following is the effect that a variation of 1% and 5% would have in the exchange rate of Colombian pesos against the U.S. United States dollar, related to the exposure of financial assets and liabilities in foreign currency as of September 30, 2022: ​ ​ ​ ​ ​ ​ Scenario / variation in the Effect on income Effect on other exchange rate ​ before taxes +/– ​ comprehensive income +/ 1 % 3,094 646,743 5 % 15,471 3,233,713
Schedule of non-derivative hedging instrument	​ ​ ​ ​ ​ ​ ​ September 30, December 31, (USD$ Millions) ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Opening balance 4,972 1,300 Reassignment of hedging instruments 682 675 Realized exports (682) (675) Designation of new hedges — 3,672 Closing balance 4,972 4,972
Schedule of movement in the other comprehensive income	​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Opening balance (945,250) (136,470) Exchange difference (3,029,837) (1,533,744) Realized exports (Note 25) 576,875 249,976 Ineffectiveness (949) 24,496 Deferred tax 858,947 450,492 Closing balance (2,540,214) (945,250) ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ (Unaudited) ​ ​ Opening balance 4,364,465 1,494,926 Exchange difference 5,507,846 4,577,887 Deferred tax (1,864,116) (1,708,348) Closing balance 8,008,195 4,364,465
Schedule of expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss	​ ​ ​ ​ ​ ​ ​ ​ Year Before taxes Taxes After taxes 2022 (Oct-Dec) 2,035,396 (712,387) 1,323,009 2023 ​ (72,675) ​ 25,436 ​ (47,239) 2024 ​ 690,910 ​ (241,819) ​ 449,091 2025 663,040 (232,064) 430,976 2026 591,350 (206,973) 384,377 ​ 3,908,021 (1,367,807) 2,540,214
Schedule of leverage ratio	​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2022 ​ 2021 ​ ​ ​ (Unaudited) ​ ​ ​ Loans and borrowings (Note 20) 107,739,990 95,060,928 ​ Cash and cash equivalents (Note 6) (12,917,748) (14,549,906) ​ Other financial assets (Note 9) (3,199,418) (2,934,734) ​ Net financial debt 91,622,824 77,576,288 ​ Equity 102,689,797 90,583,772 ​ Leverage (1) 47.15 % 46.13 % (1)

Related parties (Tables)

Related parties (Tables)	9 Months Ended
	Sep. 30, 2022
Related parties
Schedule of associates and joint ventures	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ Loans ​ Other ​ Accounts ​ Loans ​ Other ​ receivable receivable assets payable payable liabilities Joint ventures Equion Energía Limited 42 — 889 3,205 770,036 93 Ecodiesel Colombia S.A. 3,957 — — 61,433 — 2 Interligação Elétrica do Madeira S.A. 52,555 — — — — — Interligação Elétrica Garanhuns S.A. ​ 12,610 ​ 68 ​ — ​ — ​ — ​ — Interligação Elétrica Paraguaçu S.A. ​ — ​ 7 ​ — ​ — ​ — ​ — Interligação Elétrica Ivaí S.A. ​ — ​ 137 ​ — ​ — ​ — ​ — Derivex S.A. ​ — ​ 335 ​ — ​ — ​ — ​ — Associates ​ ​ ​ ​ ​ ​ Gases del Caribe S.A. E.S.P. ​ 93,009 ​ — ​ — ​ — ​ — ​ — Gas Natural del Oriente S.A. E.S.P. ​ 3,592 ​ — ​ — ​ 7,031 ​ — ​ — Gases de la Guajira S.A. E.S.P. ​ 1,797 ​ — ​ — ​ — ​ — ​ — Extrucol S.A. ​ 936 ​ — ​ — ​ 389 ​ — ​ — E2 Energía Eficiente S.A. E.S.P. 11,238 — — 1,345 — — Balance as of September 30, 2022 (unaudited) 179,736 547 889 73,403 770,036 95 Current 179,736 212 889 73,403 770,036 95 Non-current — 335 — — — — ​ 179,736 547 889 73,403 770,036 95 ​ (Note 7) (Note 7) (Note 11) (Note 21) (Note 20) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts ​ Loans ​ Other ​ Accounts ​ Loans ​ Other ​ receivable receivable assets payable payable liabilities Joint ventures Equion Energía 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) ​ ​ Loans payable: (1) Deposits held by Equion in Ecopetrol Capital AG.
Schedule of transactions between related parties	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2021 ​ ​ ​ ​ Purchases of ​ ​ ​ Purchases of ​ ​ Sales and ​ product and ​ Sales and ​ product and ​ services other services other ​ ​ (Unaudited) ​ (Unaudited) Joint ventures Equion Energí a Limited 430 15,423 15,829 52,536 Ecodiesel Colombia S.A. 13,993 468,589 26,144 314,780 ​ ​ 14,423 ​ 484,012 ​ 41,973 ​ 367,316 Associates ​ ​ ​ ​ Gas Natural del Oriente S.A. E.S.P. — 26,783 — 19,545 Extrucol S.A. ​ 10 ​ 2,222 ​ — ​ 1,124 E2 Energía Eficiente S.A. E.S.P. ​ 65,137 ​ 2,202 ​ 41,907 ​ 7,329 ​ 65,147 31,207 41,907 27,998 ​ ​ 79,570 515,219 83,880 395,314

Segments information (Tables)

Segments information (Tables)	9 Months Ended
	Sep. 30, 2022
Segments information
Schedule of operating segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, 2022 (Unaudited) ​ ​ ​ ​ ​ ​ ​ ​ Concessions, ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ ​ electricity ​ ​ ​ ​ ​ and Refining and Transportation transport ​ ​ ​ ​ ​ Production ​ Petrochemicals ​ and Logistics ​ and roads ​ Eliminations Total Third party sales 47,423,709 60,987,163 1,995,275 ​ 9,578,562 (85,915) 119,898,794 Inter-segment sales 22,583,663 5,127,399 7,873,394 ​ 1,995 (35,586,451) — Revenue from contracts with customers 70,007,372 66,114,562 9,868,669 ​ 9,580,557 (35,672,366) 119,898,794 Costs of sales (34,896,814) (59,242,324) (2,681,117) ​ (3,954,326) 35,316,340 (65,458,241) Gross profit 35,110,558 6,872,238 7,187,552 ​ 5,626,231 (356,026) 54,440,553 Administration expenses (1,537,478) (487,623) (339,903) ​ (754,149) 274,526 (2,844,627) Operation and projects expenses (1,871,806) (866,722) (225,224) ​ — 130,229 (2,833,523) Impairment of non–current assets — (5,516) — ​ — — (5,516) Other operating expenses (193,586) (31,033) (24,523) ​ (51,033) (2,496) (302,671) Operating income 31,507,688 5,481,344 6,597,902 ​ 4,821,049 46,233 48,454,216 Financial results ​ ​ ​ ​ ​ ​ ​ Financial income 656,434 59,308 80,522 ​ 404,771 (313,637) 887,398 Financial expenses (2,117,736) (974,944) (207,257) ​ (2,843,762) 267,822 (5,875,877) Foreign exchange (loss) gain (102,929) (244,300) (60,892) ​ 30,594 — (377,527) ​ (1,564,231) (1,159,936) (187,627) ​ (2,408,397) (45,815) (5,366,006) Share of profit of associates and joint ventures 8,741 171,348 (1,001) ​ 477,592 — 656,680 Profit before income tax expense 29,952,198 4,492,756 6,409,274 ​ 2,890,244 418 43,744,890 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (10,809,210) (2,664,643) (2,276,607) ​ (463,605) — (16,214,065) Net profit for the period 19,142,988 1,828,113 4,132,667 ​ 2,426,639 418 27,530,825 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net profit (loss) attributable to: ​ ​ ​ ​ ​ ​ ​ Owners of the parent 19,209,590 1,684,580 3,339,949 ​ 536,372 418 24,770,909 Non–controlling interest (66,602) 143,533 792,718 ​ 1,890,267 — 2,759,916 ​ 19,142,988 ​ 1,828,113 ​ 4,132,667 ​ 2,426,639 ​ 418 ​ 27,530,825 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine-month period ended September 30, 2021 (Unaudited) ​ ​ ​ ​ ​ ​ ​ ​ Concessions, ​ ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ ​ electricity ​ ​ ​ ​ ​ ​ and Refining and Transportation transport ​ ​ ​ ​ Production ​ Petrochemicals ​ and Logistics ​ and roads ​ Eliminations Total Third party sales 25,466,140 31,909,679 1,795,516 ​ 1,035,873 (121,400) 60,085,808 Inter–segment sales 18,145,864 3,128,811 6,989,536 ​ — (28,264,211) — Revenue from contracts with customers 43,612,004 35,038,490 8,785,052 ​ 1,035,873 (28,385,611) 60,085,808 Costs of sales (28,434,970) (33,495,298) (2,321,831) ​ (397,187) 28,199,844 (36,449,442) Gross profit 15,177,034 1,543,192 6,463,221 ​ 638,686 (185,767) 23,636,366 Administration expenses (1,164,805) (518,004) (299,640) ​ (97,644) 145,536 (1,934,557) Operation and projects expenses (1,132,911) (671,309) (246,802) ​ (11) 57,950 (1,993,083) Impairment reversal (loss) of non–current assets — 3,529 (1,754) ​ (12) — 1,763 Other operating (expenses) income (397,809) (27,012) 6,341 ​ (16,157) (920) (435,557) Operating income 12,481,509 330,396 5,921,366 ​ 524,862 16,799 19,274,932 Financial results ​ ​ ​ ​ ​ ​ ​ Financial income 384,275 17,043 28,766 ​ 30,928 (218,249) 242,763 Financial expenses (1,772,996) (834,954) (187,959) ​ (176,527) 198,141 (2,774,295) Foreign exchange (loss) gain (103,969) (46,466) 307,627 ​ 194,149 — 351,341 ​ (1,492,690) (864,377) 148,434 ​ 48,550 (20,108) (2,180,191) Share of profit of associates and joint ventures 12,569 163,982 (161) ​ 49,524 — 225,914 Profit before income tax expense 11,001,388 ​ (369,999) ​ 6,069,639 ​ 622,936 ​ (3,309) ​ 17,320,655 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income tax expense (3,898,652) 111,777 (1,913,888) ​ (344,906) — (6,045,669) Net profit (loss) for the period 7,102,736 ​ (258,222) ​ 4,155,751 ​ 278,030 ​ (3,309) ​ 11,274,986 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net profit (loss) attributable to: ​ ​ ​ ​ ​ ​ ​ Owners of the parent 7,210,942 (395,371) 3,291,205 ​ 113,614 (3,309) 10,217,081 Non–controlling interest (108,206) 137,149 864,546 ​ 164,416 — 1,057,905 ​ 7,102,736 ​ (258,222) ​ 4,155,751 ​ 278,030 ​ (3,309) ​ 11,274,986 ​
Schedule of products and services	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales by product - Segments ​ ​ Nine-month period ended September 30, 2022 (Unaudited) ​ ​ ​ ​ ​ ​ Concessions, ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ ​ electricity ​ ​ ​ ​ ​ ​ and ​ Refining and ​ Transportation ​ transport ​ ​ ​ ​ ​ ​ Production Petrochemicals and Logistics ​ and roads ​ Eliminations Total National sales ​ Mid-distillates — 28,049,021 — ​ — (17,855) 28,031,166 Gasolines — 23,859,630 — ​ — (3,249,035) 20,610,595 Gas natural 3,783,528 ​ — — ​ — (766,851) 3,016,677 Services 386,472 315,302 9,868,669 ​ 208,024 (8,135,332) 2,643,135 Electric power transmission services — — — ​ 1,934,461 — 1,934,461 Roads and construction services — — — ​ 255,736 — 255,736 Fuel gas service — 627,753 — ​ — (6,404) 621,349 Plastic and rubber — 1,216,431 — ​ — — 1,216,431 Asphalts 32,966 601,274 — ​ — — 634,240 L.P.G. and propane 550,211 280,473 — ​ — (23,449) 807,235 Crude oil 21,711,604 491,440 — ​ — (21,988,457) 214,587 Polyethylene — 220,975 — ​ — — 220,975 Aromatics ​ — ​ 242,045 ​ — ​ — ​ — ​ 242,045 Fuel oil ​ 2,663 ​ 1,836 ​ — ​ — ​ — ​ 4,499 Other income – Gas contracts 2,679 — — ​ — — 2,679 Other products ​ 14,053 ​ 1,835,614 ​ — ​ — ​ (1,343,092) ​ 506,575 ​ 26,484,176 57,741,794 9,868,669 ​ 2,398,221 (35,530,475) 60,962,385 Foreign sales ​ ​ ​ ​ ​ ​ ​ Crude oil 43,996,345 92,147 ​ — ​ — ​ (141,891) ​ 43,946,601 Diesel — 1,896,842 ​ — ​ — ​ — ​ 1,896,842 Electric power transmission services — — ​ — ​ 3,750,829 ​ — ​ 3,750,829 Roads and construction services — — ​ — ​ 3,209,685 ​ — ​ 3,209,685 Plastic and rubber — 1,621,076 ​ — ​ — ​ — ​ 1,621,076 Gasolines — 157,685 ​ — ​ — ​ — ​ 157,685 Fuel oil — 3,628,416 ​ — ​ — ​ — ​ 3,628,416 Natural gas 189,665 — ​ — ​ — ​ — ​ 189,665 L.P.G. and propane ​ 242,581 ​ — ​ — ​ — ​ — ​ 242,581 Cash flow hedging ​ (932,542) ​ (35,992) ​ — ​ — ​ — ​ (968,534) Other products 27,147 1,012,594 ​ — ​ 221,822 ​ — ​ 1,261,563 ​ 43,523,196 8,372,768 ​ — ​ 7,182,336 ​ (141,891) ​ 58,936,409 ​ 70,007,372 66,114,562 ​ 9,868,669 ​ 9,580,557 ​ (35,672,366) ​ 119,898,794 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sales by product - Segments ​ ​ Nine-month period ended September 30, 2021 (Unaudited) ​ ​ ​ ​ ​ ​ ​ Concessions, ​ ​ ​ ​ ​ Exploration ​ ​ ​ ​ ​ electricity ​ ​ ​ ​ ​ ​ and ​ Refining and ​ Transportation ​ transport ​ ​ ​ ​ ​ Production Petrochemicals and Logistics ​ and roads ​ Eliminations Total National sales ​ Mid-distillates — 11,443,166 — ​ — (12,163) 11,431,003 Gasolines — 12,093,001 — ​ — (1,755,706) 10,337,295 Gas natural 2,936,420 ​ — — ​ — (655,561) 2,280,859 Services 77,252 283,327 8,785,052 ​ 55,251 (7,073,731) 2,127,151 Electric power transmission services ​ — ​ — ​ — ​ 156,362 ​ — ​ 156,362 Roads and construction services ​ — ​ — ​ — ​ 22,607 ​ — ​ 22,607 Fuel gas service — 542,862 — ​ — (5,561) 537,301 Plastic and rubber — 1,185,041 — ​ — — 1,185,041 Asphalts 16,526 430,213 — ​ — — 446,739 L.P.G. and propane 396,167 238,293 — ​ — (21,158) 613,302 Crude oil 17,666,119 — — ​ — (17,529,475) 136,644 Polyethylene — 272,295 — ​ — — 272,295 Aromatics — 176,646 — ​ — — 176,646 Fuel oil 9,609 11,311 — ​ — — 20,920 Other income – Gas contracts 5,527 — — ​ — — 5,527 Other products ​ 13,246 ​ 1,603,863 ​ — ​ — ​ (1,332,256) ​ 284,853 Cash flow hedging — (8) — ​ — — (8) ​ 21,120,866 28,280,010 8,785,052 ​ 234,220 (28,385,611) 30,034,537 Foreign sales ​ ​ ​ ​ ​ ​ ​ Crude oil 22,608,325 — ​ — ​ — ​ — ​ 22,608,325 Diesel — 2,935,295 ​ — ​ — ​ — ​ 2,935,295 Electric power transmission services ​ — ​ — ​ — ​ 505,048 ​ — ​ 505,048 Roads and construction services ​ — ​ — ​ — ​ 274,729 ​ — ​ 274,729 Plastic and rubber — 1,558,910 ​ — ​ — ​ — ​ 1,558,910 Fuel oil — 1,634,934 ​ — ​ — ​ — ​ 1,634,934 Natural gas 39,172 — ​ — ​ — ​ — ​ 39,172 L.P.G. and propane 58,079 — ​ — ​ — ​ — ​ 58,079 Cash flow hedging (231,021) 7 ​ — ​ — ​ — ​ (231,014) Other products 16,583 629,334 ​ — ​ 21,876 ​ — ​ 667,793 ​ 22,491,138 6,758,480 ​ — ​ 801,653 ​ — ​ 30,051,271 ​ 43,612,004 35,038,490 ​ 8,785,052 ​ 1,035,873 ​ (28,385,611) ​ 60,085,808

Exhibit 1. Consolidated compa_2

Exhibit 1. Consolidated companies, associates, and joint ventures (Unaudited) (Tables)	9 Months Ended
	Sep. 30, 2022
Exhibit 1. Consolidated companies, associates, and joint ventures (Unaudited)
Disclosure of interests in subsidiaries	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit (loss) ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ Total ​ Total Company Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ period ​ assets ​ liabilities Subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Refinería de Cartagena S.A.S. U.S. Dollar 100 % Hydrocarbons refining, marketing and distribution Colombia Colombia 20,605,032 (421,262) 39,779,436 19,174,404 Cenit transporte y logística de hidrocarburos S.A.S. ​ Colombian peso ​ 100 % Storage and transportation through hydrocarbon pipelines ​ Colombia ​ Colombia ​ 15,163,439 ​ 3,382,807 ​ 17,249,389 ​ 2,085,950 ​ Ecopetrol Global Energy S.L.U. ​ U.S. Dollar ​ 100 % Investment vehicle ​ Spain ​ Spain ​ 15,014,671 ​ 603,348 ​ 15,014,712 ​ 41 ​ Oleoducto Central S.A. - Ocensa ​ U.S. Dollar ​ 72.65 % Transportation through hydrocarbon pipelines ​ Colombia ​ Colombia ​ 3,666,652 ​ 1,912,225 ​ 7,877,072 ​ 4,210,420 ​ Hocol Petroleum Limited. U.S. Dollar 100 % Investment vehicle Bermuda Bermuda 4,685,585 286,365 4,680,301 (5,284) Ecopetrol América LLC. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 2,592,569 19,295 3,141,427 548,858 Hocol S.A. U.S. Dollar 100 % Exploration, exploitation, and production of hydrocarbons Cayman Islands Colombia 4,115,544 293,019 5,774,738 1,659,194 Esenttia S.A. U.S. Dollar 100 % Production and commercialization of polypropylene resin Colombia Colombia 2,720,871 184,905 3,631,698 910,827 Ecopetrol Capital AG U.S. Dollar 100 % Collection of surpluses from, and providing funds to, companies of the Ecopetrol Business Group Switzerland Switzerland 2,990,763 193,324 10,725,300 7,734,537 Oleoducto Bicentenario de Colombia S.A.S. Colombian peso 100 % Pipeline transportation of crude oil Colombia Colombia 1,290,918 159,653 2,239,345 948,427 Oleoducto de Colombia S. A. - ODC Colombian peso 73 % Pipeline transportation of crude oil Colombia Colombia 359,650 299,535 729,015 369,365 Black Gold Re Ltd. U.S. Dollar 100 % Reaseguradora para compañías del Grupo Empresarial Ecopetrol Bermuda Bermuda 1,156,174 18,212 1,628,764 472,590 Andean Chemicals Ltd. U.S. Dollar 100 % Investment vehicle Bermuda Bermuda 1,931,217 90,881 1,931,820 603 Oleoducto de los Llanos Orientales S. A. - ODL Colombian peso 65 % Pipeline transportation of crude oil Panama Colombia 657,625 349,191 1,474,252 816,627 Interconexión Eléctrica S.A. E.S.P. Colombian peso 51.41 % -Provision of the public electricity transmission service - Development of infrastructure projects and their commercial exploitation and - Software development, Information technology and telecommunications activities and services Colombia Latin America 26,679,398 1,769,822 71,831,521 45,152,123 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ (loss) for ​ Total ​ Total Company Currency Ecopetrol Activity Domicile operations Net equity the period assets liabilities Inversiones de Gases de Colombia S.A. Invercolsa S.A. ​ Colombian peso ​ 51.88 % Holding with investments in transportation and distribution companies of natural gas and LPG in Colombia ​ Colombia ​ Colombia ​ 534,939 ​ 201,657 ​ 690,883 ​ 155,944 Alcanos de Colombia S.A. E.S.P. (1) Colombian peso 29.61 % Provision of the home public service of fuel gas, the construction and operation of gas pipelines, distribution networks, regulation, measurement, and compression stations. Colombia Colombia 361,893 99,578 778,549 416,656 Metrogas de Colombia S.A E.S.P. (1) Colombian peso 33.49 % Provision of the public service of commercialization and distribution of fuel gas; the exploration, exploitation, storage, use, transportation, refining, purchase, sale and distribution of hydrocarbons and their derivatives. Colombia Colombia 62,426 11,701 128,027 65,601 Gases del Oriente S.A. E.S.P. (1) Colombian peso 48.50 % Provision of the home public service of fuel gas distribution and the development of all complementary activities to the provision of said service. Colombia Colombia 105,148 26,826 208,678 103,530 Promotora de Gases del Sur S.A. E.S.P. (1) ​ Colombian peso ​ 31.44 % Promote the linking of national or foreign capital, public or private, to achieve the gas massification project. ​ Colombia ​ Colombia ​ 56,341 ​ 20,694 ​ 87,347 ​ 31,006 Combustibles Líquidos de Colombia S.A E.S.P. (1) ​ Colombian peso ​ 41.61 % Wholesale commercialization of fuel gas, the provision of the home public LPG distribution service and the development of complementary activities to the provision of said service. ​ Colombia ​ Colombia ​ 60,946 ​ 1,982 ​ 86,965 ​ 26,019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ ​ Geographic ​ ​ ​ Profit (loss) ​ ​ ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ Total ​ Total Company ​ Currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ period ​ assets ​ liabilities Ecopetrol USA Inc. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 12,942,797 951,305 12,964,617 21,820 Ecopetrol Permian LLC. U.S. Dollar 100 % Hydrocarbons exploration and exploitation United States of America United States of America 8,186,502 935,866 8,750,801 564,299 Ecopetrol Oleo é Gas do Brasil Ltda. Real 100 % Hydrocarbons exploration and exploitation Brazil Brazil 1,953,495 (335,789) 1,981,669 28,174 Esenttia Masterbatch Ltda. ​ Colombian peso ​ 100 % Manufacture of polypropylene compounds and masterbatches ​ Colombia ​ Colombia ​ 390,328 ​ 234,728 ​ 524,679 ​ 134,351 Ecopetrol del Perú S. A. ​ U.S. Dollar ​ 100 % Hydrocarbons exploration and exploitation ​ Peru ​ Peru ​ 70,365 ​ (75) ​ 71,994 ​ 1,629 ECP Hidrocarburos de México S.A. de C.V. ​ U.S. Dollar ​ 100 % Offshore exploration ​ Mexico ​ Mexico ​ 47,635 ​ (11,296) ​ 54,563 ​ 6,928 Ecopetrol Costa Afuera S.A.S. ​ Colombian peso ​ 100 % Offshore exploration ​ Colombia ​ Colombia ​ 12,973 ​ (473) ​ 13,270 ​ 297 Esenttia Resinas del Perú SAC U.S. Dollar 100 % Commercialization polypropylene resins and masterbatches Peru Peru 15,971 1,475 67,742 51,771 Topili Servicios Administrativos S de RL De CV. Mexican pesos 100 % Specialized management services Mexico Mexico 17 (32) 22 5 Kalixpan Servicios Técnicos S de RL De CV. Mexican pesos 100 % Specialized services related to oil and gas industry Mexico Mexico 27 (30) 32 5 Ecopetrol Singapore PTE. LTD Singapore dollar 100 % Holding company with investment in an international trading company for crude oil and refined products Singapore Asia 110,014 119,263 110,135 121 Ecopetrol Trading Asia PTE. LTD Singapore dollar 100 % International marketing of crude oil and refined products Singapore Asia 110,125 119,367 2,845,291 2,735,166
Disclosure of interests in associates and joint ventures	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ Geographic ​ Profit (loss) ​ ​ ​ ​ Functional ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ Total ​ Total Company ​ currency ​ Ecopetrol ​ Activity ​ Domicile ​ operations ​ Net equity ​ period ​ assets ​ liabilities Associates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Serviport S.A. (2) Colombian peso 49 % Services to support the loading and unloading of oil trucks, supply of equipment for the same purpose, technical inspections, and load measurements Colombia Colombia 17,139 (103) 39,452 22,313 Sociedad Portuaria Olefinas y Derivados S.A. (3) Colombian peso 50 % Construction, use, maintenance, adaptation and administration of port facilities, ports, private docks, or service to the public Colombia Colombia 4,628 589 7,888 3,260 Joint ventures Equion Energía Limited U.S. Dollar 51 % Hydrocarbons exploration and exploitation United Kingdom Colombia 1,470,547 10,820 1,551,795 81,248 Ecodiesel Colombia S.A. (3) Colombian peso 50 % Production, commercialization and distribution of biofuels and oleochemicals Colombia Colombia 123,872 45,918 234,961 111,089 ​ (1) Indirect participation through Inversiones de Gases de Colombia S.A. - Invercolsa S.A. (2) Information available as of August 31, 2022, the investment is totally impaired. (3) Information available as of August 31, 2022.

Exhibit 2. Consolidated compa_2

Exhibit 2. Consolidated companies, associates, and joint ventures - Interconexion Electrica S.A. E.S.P. (Tables)	9 Months Ended
	Sep. 30, 2022
Exhibit 2. Consolidated companies, associates, and joint ventures - Interconexion Electrica S.A. E.S.P.
Schedule of subsidiaries, associates, and joint ventures Interconexion Electrica S.A. ESP	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ Geographic ​ ​ Profit (loss) ​ ​ ​ ​ ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ ​ ​ Total Company ISA Activity Domicile operations Net equity period Total assets liabilities Subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Consorcio Transmantaro 60.00 % Electric power ​ Peru Peru 2,047,606 ​ 210,796 ​ 8,476,483 6,428,877 Interligação Eléctrica Evrecy 35.82 % Electric power ​ Brazil Brazil 204,913 ​ (42,116) ​ 225,450 20,537 Fundo de Investimento Assis 35.81 % Trust - Special Purpose Entity ​ Brazil Brazil 121,919 ​ 4,269 ​ 121,919 — Fundo de Investimento Barra Bonita Renda Fixa Referenciado 35.77 % Trust - Special Purpose Entity ​ Brazil Brazil 11,873 ​ 2,479 ​ 11,873 — Fundo de Investimento Referenciado di Bandeirantes 17.06 % Trust - Special Purpose Entity ​ Brazil Brazil 341,888 ​ 16,468 ​ 341,888 — Fundo de Investimento Xavantes Referenciado di 15.40 % Trust - Special Purpose Entity ​ Brazil Brazil 522,517 ​ 35,529 ​ 522,517 — Interconexiones Viales 65.00 % Roads ​ Chile Chile 3,044 ​ (2,650) ​ 3,656 612 Interligação Elétrica Aguapeí 35.82 % Electric power ​ Brazil Brazil 543,971 ​ 68,226 ​ 605,626 61,655 Interligação Elétrica Biguaçu 35.82 % Electric power ​ Brazil Brazil 357,213 ​ 29,756 ​ 427,764 70,551 Interligação Elétrica De Minas Gerais 35.82 % Electric power ​ Brazil Brazil 271,566 ​ (33,417) ​ 298,559 26,993 Interligação Elétrica Itapura 35.82 % Electric power ​ Brazil Brazil 175,044 ​ 20,631 ​ 188,340 13,296 Interligação Elétrica Itaquerê 35.82 % Electric power ​ Brazil Brazil 464,935 ​ 44,866 ​ 545,366 80,431 Interligação Elétrica Itaúnes 35.82 % Electric power ​ Brazil Brazil 426,261 ​ 39,039 ​ 460,751 34,490 Interligação Elétrica Norte E Nordeste 35.82 % Electric power ​ Brazil Brazil 314,059 ​ 26,937 ​ 450,167 136,108 Interligação Elétrica Pinheiros 35.82 % Electric power ​ Brazil Brazil 550,509 ​ 57,631 ​ 615,028 64,519 Interligação Elétrica Riacho Grande 35.82 % Electric power ​ Brazil Brazil 76,184 ​ (1,243) ​ 84,574 8,390 Interligação Elétrica Serra Do Japi 35.82 % Electric power ​ Brazil Brazil 466,645 ​ 51,278 ​ 522,507 55,862 Interligação Elétrica Sul 35.82 % Electric power ​ Brazil Brazil 183,835 ​ 9,819 ​ 209,914 26,079 Interligação Elétrica Tibagi 35.82 % Electric power ​ Brazil Brazil 201,486 ​ 13,391 ​ 234,054 32,568 Internexa 99.42 % Information and communications technologies ​ Colombia Colombia 113,389 ​ (9,866) ​ 549,217 435,828 Transamerican Telecomunication S.A. 99.42 % Information and communications technologies ​ Argentina Argentina 20,908 ​ (2,265) ​ 43,213 22,305 Internexa Brasil Operadora de Telecomunicações 99.42 % Information and communications technologies ​ Brazil Brazil 41,658 ​ (22,433) ​ 291,102 249,444 Internexa Chile 98.43 % Information and communications technologies ​ Chile Chile 23,835 ​ 1,889 ​ 78,272 54,437 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ Geographic ​ ​ ​ Profit (loss) ​ ​ ​ ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ Total ​ Total Company ISA Activity Domicile operations ​ Net equity ​ period ​ assets ​ liabilities Internexa Participações 99.42 % Investment vehicle ​ Brazil Brazil ​ 38,103 ​ (21,083) 38,933 830 Internexa Peru 99.42 % Information and communications technologies ​ Peru Peru ​ 75,418 ​ 4,033 394,048 318,630 ISA Bolivia 100.00 % Electric power ​ Bolivia Bolivia ​ 129,343 ​ 7,877 138,416 9,073 ISA Capital Do Brasil 100.00 % Investment vehicle ​ Brazil Brazil ​ 4,902,563 ​ 536,782 4,904,914 2,351 ISA CTEEP 35.82 % Electric power ​ Brazil Brazil ​ 13,609,080 ​ 1,493,200 25,918,741 12,309,661 ISA Interchile 100.00 % Electric power ​ Chile Chile ​ 1,400,049 ​ (25,287) 6,961,298 5,561,249 ISA Intercolombia 100.00 % Electric power ​ Colombia Colombia ​ 94,919 ​ 36,169 331,964 237,045 ISA Intervial Chile 100.00 % Roads ​ Chile Chile ​ 3,294,754 ​ 240,366 4,099,171 804,417 ISA Intervial Colombia 100.00 % Roads ​ Colombia Colombia ​ 579 ​ 13 579 - ISA Inversiones Chile 100.00 % Investment vehicle ​ Chile Chile ​ 4,007,871 ​ 245,561 4,011,877 4,006 ISA Inversiones Costera Chile 100.00 % Investment vehicle ​ Chile Chile ​ (53,317) ​ (57,162) 611,625 664,942 ISA Inversiones Tolten 100.00 % Investment vehicle ​ Chile Chile ​ 40 ​ (3) 40 - ISA Investimentos E Participações 100.00 % Investment vehicle ​ Brazil Brazil ​ 1,089,564 ​ 154,558 1,089,591 27 ISA Perú 99.99 % Electric power ​ Peru Peru ​ 223,977 ​ 20,603 1,107,192 883,215 ISA REP 60.00 % Electric power ​ Peru Peru ​ 638,585 ​ 196,436 2,173,961 1,535,376 ISA Transelca 100.00 % Electric power ​ Colombia Colombia ​ 956,311 ​ 166,923 1,755,872 799,561 Linear Systems RE 100.00 % Other businesses ​ Bermudas Bermudas ​ 33,188 ​ 3,523 98,499 65,311 Proyectos de Infraestructura del Perú 100.00 % Electric power ​ Peru Peru ​ 17,147 ​ 4,629 137,825 120,678 Ruta Costera 100.00 % Roads ​ Colombia Colombia ​ 176,642 ​ (12,644) 2,580,975 2,404,333 Ruta de La Araucanía 100.00 % Roads ​ Chile Chile ​ 337,645 ​ 48,713 653,193 315,548 Ruta de Los Ríos 75.00 % Roads ​ Chile Chile ​ 97,779 ​ 28,959 237,528 139,749 Ruta del Bosque 100.00 % Roads ​ Chile Chile ​ 92,730 ​ (19,445) 118,570 25,840 Ruta del Loa 100.00 % Roads ​ Chile Chile ​ 254,451 ​ 31,019 825,723 571,272 Ruta del Maipo 100.00 % Roads ​ Chile Chile ​ 2,241,823 ​ 209,465 7,222,823 4,981,000 Ruta del Maule 100.00 % Roads ​ Chile Chile ​ 4,863 ​ (4,657) 13,414 8,551 Sistemas Inteligentes en Red 99.77 % Other businesses ​ Colombia Colombia ​ 8,960 ​ 1,356 17,765 8,805 XM 99.73 % Electric power ​ Colombia Colombia ​ 37,818 ​ 8,836 280,987 243,169 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ownership ​ ​ ​ ​ Geographic ​ ​ Profit (loss) ​ ​ ​ ​ ​ ​ Interest ​ ​ ​ Country/ ​ area of ​ ​ ​ for the ​ ​ ​ Total Company ​ ISA Activity Domicile ​ operations ​ Net equity period Total assets liabilities Joint ventures Interligação Elétrica do Madeira 51.00 % Energy transport Brazil Brazil ​ 3,254,901 295,254 6,055,398 2,800,497 Interligação Elétrica Garanhuns 51.00 % Energy transport Brazil Brazil ​ 854,101 139,573 1,224,720 370,619 Interligação Elétrica Paraguaçu 50.00 % Energy transport Brazil Brazil ​ 937,376 112,230 1,350,712 413,336 Interligação Elétrica Aimorés 50.00 % Energy transport Brazil Brazil ​ 622,194 92,762 896,390 274,196 Interligação Elétrica Ivaí 50.00 % Energy transport Brazil Brazil ​ 699,677 73,148 3,324,360 2,624,683 Transmissora Aliança de Energia Elétrica 14.88 % Energy transport Brazil Brazil ​ 5,835,107 1,139,815 13,533,058 7,697,951 Interconexión Eléctrica Colombia Panamá-Panamá 50.00 % Energy transport Panama Panama ​ 32,317 (21,722) 33,280 963 Interconexión Eléctrica Colombia Panamá Colombia 1.17 % Energy transport Colombia Colombia ​ 267 (2) 268 1 Transnexa (1) 50.00 % Telecommunications transport Ecuador Ecuador ​ — — — — Derivex 40.35 % Manage the negotiation system of operations on derivative financial instruments of electrical energy Colombia Colombia ​ 207 (666) 207 — Parques del Río 33.00 % Roads Colombia Colombia ​ 110 (23) 110 — Conexión Kimal Lo Aguirre S.A. ​ 33.33 % Energy transport ​ Chile ​ Chile ​ 119,475 ​ — ​ 119,475 ​ — Associates ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ATP Tower Holdings 24.70 % Telecommunications transport United States of America United States of America ​ 1,856,906 (108,497) 4,166,273 2,309,367 (1)

Reporting entity (Details)

Reporting entity (Details)	Sep. 30, 2022
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		3 Months Ended	9 Months Ended
	Aug. 20, 2021 shares	Sep. 30, 2022 USD ($) $ / bbl	Sep. 30, 2022 USD ($) item $ / T MW
Basis for presentation
Average price of crude oil | $ / bbl		97.7
Maximum amount of investment in gas energy		$ 1,800	$ 1,800
Amount of investments in geographies		2,600	$ 2,600
Total energy investments of the Business Group (in percent)			15%
Amount of investment in current businesses and geographies		8,300	$ 8,300
Amount of investment in new geographies		2,200	$ 2,200
Threshold period for investment in green hydrogen projects			3 years
Amount of investment in green hydrogen projects		200	$ 200
Minimum amount of investment in projects		1,400	$ 1,400
Percentage of reduction in GHG emissions			25%
Expected promotion of new non-oil jobs | item			230,000
Number of young Colombians for which education is expected to be contributed | item			2
Minimum amount of allocation in innovation, technology, and digital transformation		240	$ 240
Brazil
Basis for presentation
Investment in geographies (in percent)			42%
Colombia
Basis for presentation
Investment in geographies (in percent)			25%
Minimum
Basis for presentation
Annual investment		5,200	$ 5,200
Organic investment		17,000	$ 17,000
Price curve of greenhouse gas emissions under the internal CO2 price methodology | $ / T			20
Participation of non-conventional renewable energies (in percent)			25%
Self generation capacity in renewable energies | MW			400
Percentage of reduction in zero water discharges			58%
Maximum
Basis for presentation
Annual investment		6,000	$ 6,000
Organic investment		$ 20,000	$ 20,000
Price curve of greenhouse gas emissions under the internal CO2 price methodology | $ / T			40
Participation of non-conventional renewable energies (in percent)			40%
Self generation capacity in renewable energies | MW			450
Percentage of reduction in zero water discharges			66%
Interconexion Electrica S.A. E.S.P.
Basis for presentation
Number of shares acquired | shares	569,472,561
Percentage of interest acquired	51.40%

New standards (Details)

New standards (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Jan. 01, 2021
New standards
Property, plant, and equipment	$ 96,760,471	$ 90,076,526
Colombia
New standards
Natural and environmental resources			$ 48,173
Property, plant, and equipment			18,013
Deferred tax			$ 24,132

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Cash and cash equivalents.
Banks and corporations	$ 8,976,534	$ 11,080,569
Short-term investments	3,939,317	3,467,859
Cash	1,897	1,478
Total cash and cash equivalents	$ 12,917,748	$ 14,549,906	$ 10,086,787	$ 5,082,308

Cash and cash equivalents - Add

Cash and cash equivalents - Additional Information (Details) - COP ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Cash and cash equivalents.
Restricted cash	$ 55,164	$ 71,979
Operating capacity	$ 1,414,522	$ 1,039,024

Trade and other receivables (De

Trade and other receivables (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Customers
Foreign	$ 4,037,880	$ 3,222,837
Domestic	3,409,558	2,917,305
Concessions (1)	4,361,181	3,370,644
Fuel Price stabilization fund (2)	20,443,367	7,824,788
Accounts receivable from employees	104,610	106,547
Industrial services	53,666	32,096
Related parties (Note 31)	179,948	9,355
Other	961,184	965,310
Total current	33,551,394	18,448,882
Non-current
Foreign	144,481	36,965
Domestic	54,051	178,552
Concessions	25,215,126	21,259,519
Accounts receivable from employees	545,168	534,051
Related parties	335	335
Other (3)	2,534,185	2,150,294
Total non-current	$ 28,493,346	$ 24,159,716

Trade and other receivables - A

Trade and other receivables - Additional Information (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
ISA
Trade and other receivables
Gross accounts receivable	$ 2,202,739	$ 1,772,101
Provision for expected losses, included in provision line for expected credit losses	432,750	368,299
Net book value of accounts receivable included in others	1,769,989	$ 1,403,802
Ecopetrol
Trade and other receivables
Account receivable from dividend	6,788,385
Reficar
Trade and other receivables
Contribution from Ministry of Finance and Public Credit	$ 7,461,088

Inventories (Details)

Inventories (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventories
Crude oil	$ 4,184,242	$ 3,305,965
Fuels and petrochemicals	3,933,294	2,845,486
Materials for goods production	2,665,972	2,246,761
Inventories, net	$ 10,783,508	$ 8,398,212

Other financial assets (Details

Other financial assets (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets measured at fair value
Assets measured at fair value	$ 3,078,383	$ 2,559,472
Other financial assets	3,199,418	2,934,734
Current	2,234,862	1,627,150
Non-current	964,556	1,307,584
Investment in equity securities
Assets measured at fair value
Assets measured at fair value	1,034,997	606,624
Hedging instruments
Assets measured at fair value
Other financial assets	235,807	17,449
Assets measured at fair value through other comprehensive income
Assets measured at fair value
Other financial assets	2,627	2,789
Assets measured at amortized cost
Assets measured at fair value
Assets measured at fair value	121,035	375,262
Foreign currency
Assets measured at fair value
Assets measured at fair value	1,422,282	1,172,718
Local currency
Assets measured at fair value
Assets measured at fair value	$ 382,670	$ 759,892

Other financial assets - Other

Other financial assets - Other financial assets recognized at fair value (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Other financial assets
Financial assets at fair value	$ 3,078,383	$ 2,559,472
Level 1
Other financial assets
Financial assets at fair value	1,446,757	834,057
Level 2
Other financial assets
Financial assets at fair value	$ 1,631,626	$ 1,725,415

Taxes - Income tax expense (Det

Taxes - Income tax expense (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 COP ($) $ / bbl	Sep. 30, 2021 COP ($)
Income tax expense
Current income tax expense	$ 13,586,947	$ 4,246,737
Deferred income tax expense	2,613,356	1,817,892
Adjustments to prior years' current and deferred tax	13,762	(18,960)
Income tax expense	$ 16,214,065	$ 6,045,669
Effective tax rate	37.10%	34.90%
Nominal income rate	35%	31%
Percentage of increase in average price of crude oil, natural gas and refined products	54%
Increase in average price per barrel of crude oil, natural gas and refined products | $ / bbl	35.2
Refineria de Cartagena
Income tax expense
Increase in effective tax rate	2.20%
Nominal income rate	15%

Other assets (Details)

Other assets (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current
Prepaid expenses	$ 814,709	$ 549,456
Partners in joint operations	762,155	639,199
Advanced payments to contractors and suppliers	705,451	591,990
Trust funds	455,889	527,520
Related parties (Note 31)	889	1,386
Other	24,475	23,540
Total current	2,763,568	2,333,091
Non-current
Wells abandonment and pension funds	563,552	461,729
Trust funds	236,449	176,781
Employee benefits	273,142	229,969
Advanced payments and deposits	97,022	92,815
Judicial deposits and judicial attachments	52,816	48,845
Other	166,246	188,224
Total non-current	$ 1,389,227	$ 1,198,363

Business combination - Fair val

Business combination - Fair value of the identifiable assets and liabilities of ISA as at the date of acquisition (Details) - ISA $ in Millions	Aug. 20, 2021 COP ($)
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	5,014,749
Properties, plant, and equipment	17,486,901
Right of use assets	230,207
Intangibles	13,903,491
Deferred tax assets	2,075,849
Total assets	73,556,395
Liabilities
Loans	(27,203,432)
Leases	(255,503)
Accounts payable	(1,358,692)
Employee Benefits	(973,210)
Tax liabilities	(1,897,786)
Provisions and contingencies	(947,883)
Other liabilities	(1,708,349)
Deferred tax liabilities	9,856,379
Total liabilities	(44,201,234)
Total identifiable net assets	29,355,161
Non-controlling interest	(18,734,241)
Goodwill derived from the acquisition	3,279,916
Consideration transferred	$ 13,900,836

Business combination - Addition

Business combination - Additional Information (Details) $ in Millions	Aug. 20, 2021 COP ($) shares
Interconexion Electrica S.A. E.S.P.
Disclosure of detailed information about business combination [line items]
Number of shares acquired | shares	569,472,561
Percentage of interest acquired	51.40%
ISA
Disclosure of detailed information about business combination [line items]
Properties, plant, and equipment	$ 17,486,901
Intangibles	13,903,491
Decrease in properties, plant, and equipment	153,557
Decrease in intangibles	422,988
Decrease in deferred tax liability	96,767
Decrease in non-controlling interest	238,839
Increase in goodwill	240,939
Revenue since acquisition	4,113,198
Net profit from continuing operations since acquisition	1,108,202
Net profit from non-controlling interest since acquisition	846,454
Revenue if acquisition has happened beginning of year	7,039,487
Profit before tax from continuing operations if acquisition has happened beginning of year	2,096,511
Net profit from non-controlling interest if acquisition has happened beginning of year	1,501,984
Goodwill	$ 3,279,916

Business combination - Additi_2

Business combination - Additional Information (Details) - COP ($) $ in Millions		9 Months Ended
	Aug. 20, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Disclosure of detailed information about business combination [line items]
Goodwill.		$ 5,238,201		$ 4,686,324
Profit (loss) from operating activities		48,454,216	$ 19,274,932
Profit (loss)		27,530,825	$ 11,274,986
Property, plant and equipment.		$ 96,760,471		$ 90,076,526
ISA
Disclosure of detailed information about business combination [line items]
Profit before tax from continuing operations if acquisition has happened beginning of year	$ 2,096,511
Revenue if acquisition has happened beginning of year	7,039,487
Revenue included in the consolidated profit or loss statement	4,113,198
Profits included in the consolidated profit or loss statement	$ 1,108,202

Investments in associates and_3

Investments in associates and joint ventures - Composition and movements (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Investments in joint ventures
Equity of the joint venture	$ 6,294,312	$ 5,749,030
Investments in associates
Investments in associates	2,638,199	2,608,156
Investments in joint ventures and associates	8,932,511	8,357,186
Cost
Investments in joint ventures
Equity of the joint venture	6,700,961	6,155,679
Investments in associates
Investments in associates	2,647,598	2,617,555
Gases del Caribe S.A. E.S.P. | Cost
Investments in associates
Investments in associates	1,466,842	1,515,838
ATP Tower Holdings | Cost
Investments in associates
Investments in associates	893,993	813,697
Gas Natural del Oriente S.A. E.S.P. | Cost
Investments in associates
Investments in associates	143,584	142,508
Gases de la Guajira S.A. E.S.P. | Cost
Investments in associates
Investments in associates	68,490	69,461
E2 Energia Eficiente S.A. E.S.P. | Cost
Investments in associates
Investments in associates	34,755	35,062
Extrucol S.A. | Cost
Investments in associates
Investments in associates	27,911	28,578
Serviport S.A. | Cost
Investments in associates
Investments in associates	8,398	9,399
Serviport S.A. | Accumulated impairment
Investments in associates
Investments in associates	(9,399)	(9,399)
Sociedad Portuaria Olefinas | Cost
Investments in associates
Investments in associates	3,625	3,012
Equion Energa Limited | Cost
Investments in joint ventures
Equity of the joint venture	1,104,034	1,860,634
Equion Energa Limited | Accumulated impairment
Investments in joint ventures
Equity of the joint venture	(398,104)	(398,104)
Interligacao Electrica do Madeira S.A. | Cost
Investments in joint ventures
Equity of the joint venture	1,771,903	1,374,483
Transmissora Alianca de Energia Electrica S.A. | Cost
Investments in joint ventures
Equity of the joint venture	1,745,002	1,496,060
Interligacao Electrica Paraguacu S.A. | Cost
Investments in joint ventures
Equity of the joint venture	569,717	412,526
Interligacao Electrica Ivai S.A. | Cost
Investments in joint ventures
Equity of the joint venture	417,904	288,224
Interligacao Electrica Garanhuns S.A. | Cost
Investments in joint ventures
Equity of the joint venture	501,036	363,498
Interligacao Electrica Aimors S.A. | Cost
Investments in joint ventures
Equity of the joint venture	383,533	278,408
Conexion Kimal Lo Aguirre S.A. | Cost
Investments in joint ventures
Equity of the joint venture	119,475	0
Ecodiesel Colombia S.A. | Cost
Investments in joint ventures
Equity of the joint venture	61,936	64,019
Interconexion Electrica Colombia Panama S.A. | Cost
Investments in joint ventures
Equity of the joint venture	17,608	8,737
Transnexa S.A. E.M.A. | Cost
Investments in joint ventures
Equity of the joint venture	8,545	8,545
Transnexa S.A. E.M.A. | Accumulated impairment
Investments in joint ventures
Equity of the joint venture	(8,545)	(8,545)
Derivex S.A. | Cost
Investments in joint ventures
Equity of the joint venture	179	448
Parques de Rio | Cost
Investments in joint ventures
Equity of the joint venture	85	93
Interconexion Electrica Colombia Panama S.A.S. E.S.P | Cost
Investments in joint ventures
Equity of the joint venture	$ 4	$ 4

Investments in associates and_4

Investments in associates and joint ventures - Movement of investments in associates and joint ventures (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Disclosure of Investments in associates and joint ventures [Line Items]
Opening balance	$ 8,357,186
Capitalizations	209,658
Equity method recognized in:
Profit or loss	656,680	$ 225,914
Equity	1,016,218
Dividends declared	(1,307,231)
Closing balance	8,932,511
Joint ventures
Disclosure of Investments in associates and joint ventures [Line Items]
Opening balance	5,749,030
Capitalizations	209,658
Equity method recognized in:
Profit or loss	539,045
Equity	913,159
Dividends declared	(1,116,580)
Closing balance	6,294,312
Associates
Disclosure of Investments in associates and joint ventures [Line Items]
Opening balance	2,608,156
Capitalizations	0
Equity method recognized in:
Profit or loss	117,635
Equity	103,059
Dividends declared	(190,651)
Closing balance	$ 2,638,199

Investments in associates and_5

Investments in associates and joint venture - Additional Information (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Disclosure of Investments in associates and joint ventures [Line Items]
Capitalizations	$ 209,658
Dividends received	1,179,338	$ 94,655
Joint ventures
Disclosure of Investments in associates and joint ventures [Line Items]
Capitalizations	209,658
Dividends received	1,179,338
Conexion Kimal Lo Aguirre S.A.
Disclosure of Investments in associates and joint ventures [Line Items]
Capitalizations	119,475
Interligacao Electrica Ivai S.A.
Disclosure of Investments in associates and joint ventures [Line Items]
Capitalizations	41,912
Interligacao Electrica Paraguacu S.A.
Disclosure of Investments in associates and joint ventures [Line Items]
Capitalizations	27,662
Interconexion Electrica Colombia Panama S.A.
Disclosure of Investments in associates and joint ventures [Line Items]
Capitalizations	11,807
Interligacao Electrica Aimors S.A.
Disclosure of Investments in associates and joint ventures [Line Items]
Capitalizations	8,802
Equion Energa Limited
Disclosure of Investments in associates and joint ventures [Line Items]
Dividends received	929,265
Interconexion Electrica S.A. E.S.P.
Disclosure of Investments in associates and joint ventures [Line Items]
Dividends received	159,315
Associates
Disclosure of Investments in associates and joint ventures [Line Items]
Capitalizations	0
Inversiones de Gases de Colombia S.A. Invercolsa S.A.
Disclosure of Investments in associates and joint ventures [Line Items]
Dividends received	$ 90,758

Property, plant and equipment_2

Property, plant and equipment (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 COP ($)
Property, plant, and equipment
Beginning Balance	$ 90,076,526
Ending Balance	96,760,471
Cost [member]
Property, plant, and equipment
Beginning Balance	140,900,774
Additions/capitalizations	5,259,905
Abandonment cost update (Note 23)	(137,525)
Capitalized financial interests	129,050
Exchange differences capitalized	1,129
Disposals	(726,883)
(Decrease) increase related to business combination (Note 12)	(153,558)
Effect of adopting new standards	18,013
Foreign currency translation	9,077,238
Reclassifications/transfers	(561,690)
Ending Balance	153,806,453
Accumulated depreciation and impairment losses
Property, plant, and equipment
Beginning Balance	(50,824,248)
Disposals	673,548
Foreign currency translation	(3,226,763)
Reclassifications/transfers	515,624
Depreciation expense	(4,178,627)
Impairment loss (Note 18)	(5,516)
Ending Balance	(57,045,982)
Plant and equipment
Property, plant, and equipment
Beginning Balance	32,754,006
Ending Balance	33,263,872
Plant and equipment | Cost [member]
Property, plant, and equipment
Beginning Balance	57,452,843
Additions/capitalizations	1,634,109
Abandonment cost update (Note 23)	0
Capitalized financial interests	47,256
Exchange differences capitalized	413
Disposals	(472,252)
(Decrease) increase related to business combination (Note 12)	0
Effect of adopting new standards	0
Foreign currency translation	5,328,047
Reclassifications/transfers	(3,725,364)
Ending Balance	60,265,052
Plant and equipment | Accumulated depreciation and impairment losses
Property, plant, and equipment
Beginning Balance	(24,698,837)
Disposals	456,383
Foreign currency translation	(2,015,610)
Reclassifications/transfers	1,307,058
Depreciation expense	(2,048,209)
Impairment loss (Note 18)	(1,965)
Ending Balance	(27,001,180)
Pipelines, networks and lines
Property, plant, and equipment
Beginning Balance	35,737,581
Ending Balance	36,896,447
Pipelines, networks and lines | Cost [member]
Property, plant, and equipment
Beginning Balance	55,402,633
Additions/capitalizations	858,368
Abandonment cost update (Note 23)	(137,525)
Capitalized financial interests	17,463
Exchange differences capitalized	153
Disposals	(175,679)
(Decrease) increase related to business combination (Note 12)	(176,451)
Effect of adopting new standards	0
Foreign currency translation	2,639,349
Reclassifications/transfers	722,699
Ending Balance	59,151,010
Pipelines, networks and lines | Accumulated depreciation and impairment losses
Property, plant, and equipment
Beginning Balance	(19,665,052)
Disposals	159,015
Foreign currency translation	(989,196)
Reclassifications/transfers	(35,315)
Depreciation expense	(1,724,015)
Impairment loss (Note 18)	0
Ending Balance	(22,254,563)
Work in progress
Property, plant, and equipment
Beginning Balance	9,286,514
Ending Balance	11,213,256
Work in progress | Cost [member]
Property, plant, and equipment
Beginning Balance	10,566,114
Additions/capitalizations	2,399,373
Abandonment cost update (Note 23)	0
Capitalized financial interests	57,034
Exchange differences capitalized	499
Disposals	(10,461)
(Decrease) increase related to business combination (Note 12)	0
Effect of adopting new standards	18,013
Foreign currency translation	251,649
Reclassifications/transfers	(794,664)
Ending Balance	12,487,557
Work in progress | Accumulated depreciation and impairment losses
Property, plant, and equipment
Beginning Balance	(1,279,600)
Disposals	0
Foreign currency translation	(1,705)
Reclassifications/transfers	7,004
Depreciation expense	0
Impairment loss (Note 18)	0
Ending Balance	(1,274,301)
Buildings
Property, plant, and equipment
Beginning Balance	5,600,974
Ending Balance	8,410,520
Buildings | Cost [member]
Property, plant, and equipment
Beginning Balance	9,660,227
Additions/capitalizations	267,638
Abandonment cost update (Note 23)	0
Capitalized financial interests	5,580
Exchange differences capitalized	49
Disposals	(39,234)
(Decrease) increase related to business combination (Note 12)	37,542
Effect of adopting new standards	0
Foreign currency translation	408,531
Reclassifications/transfers	3,275,900
Ending Balance	13,616,233
Buildings | Accumulated depreciation and impairment losses
Property, plant, and equipment
Beginning Balance	(4,059,253)
Disposals	34,151
Foreign currency translation	(126,549)
Reclassifications/transfers	(762,361)
Depreciation expense	(288,150)
Impairment loss (Note 18)	(3,551)
Ending Balance	(5,205,713)
Lands
Property, plant, and equipment
Beginning Balance	4,732,686
Ending Balance	4,999,021
Lands | Cost [member]
Property, plant, and equipment
Beginning Balance	4,800,297
Additions/capitalizations	3,021
Abandonment cost update (Note 23)	0
Capitalized financial interests	115
Exchange differences capitalized	1
Disposals	(30)
(Decrease) increase related to business combination (Note 12)	(14,649)
Effect of adopting new standards	0
Foreign currency translation	288,802
Reclassifications/transfers	(4,872)
Ending Balance	5,072,685
Lands | Accumulated depreciation and impairment losses
Property, plant, and equipment
Beginning Balance	(67,611)
Disposals	0
Foreign currency translation	(6,053)
Reclassifications/transfers	0
Depreciation expense	0
Impairment loss (Note 18)	0
Ending Balance	(73,664)
Others
Property, plant, and equipment
Beginning Balance	1,964,765
Ending Balance	1,977,355
Others | Cost [member]
Property, plant, and equipment
Beginning Balance	3,018,660
Additions/capitalizations	97,396
Abandonment cost update (Note 23)	0
Capitalized financial interests	1,602
Exchange differences capitalized	14
Disposals	(29,227)
(Decrease) increase related to business combination (Note 12)	0
Effect of adopting new standards	0
Foreign currency translation	160,860
Reclassifications/transfers	(35,389)
Ending Balance	3,213,916
Others | Accumulated depreciation and impairment losses
Property, plant, and equipment
Beginning Balance	(1,053,895)
Disposals	23,999
Foreign currency translation	(87,650)
Reclassifications/transfers	(762)
Depreciation expense	(118,253)
Impairment loss (Note 18)	0
Ending Balance	$ (1,236,561)

Natural and environmental res_3

Natural and environmental resources (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 COP ($)
Cost [member] | Oil and gas investments
Natural and environmental resources
Balance	$ 84,054,592
Additions/capitalizations	4,208,480
Abandonment cost update (Note 23)	0
Disposals	(759,178)
Write off exploratory assets and dry wells	0
Capitalized financial interests	75,504
Exchange differences capitalized	660
Effect of adopting new standards	0
Foreign currency translation	3,218,959
Reclassifications/transfers	1,080,686
Balance	76,229,481
Cost [member] | Assets retirement obligations
Natural and environmental resources
Balance	8,100,280
Additions/capitalizations	0
Abandonment cost update (Note 23)	(51,227)
Disposals	(107,815)
Write off exploratory assets and dry wells	0
Capitalized financial interests	0
Exchange differences capitalized	0
Effect of adopting new standards	0
Foreign currency translation	95,721
Reclassifications/transfers	(9,097)
Balance	8,172,698
Cost [member] | Exploration and evaluation
Natural and environmental resources
Balance	9,592,199
Additions/capitalizations	3,264,075
Abandonment cost update (Note 23)	0
Disposals	(4,505)
Write off exploratory assets and dry wells	(436,980)
Capitalized financial interests	62,317
Exchange differences capitalized	545
Effect of adopting new standards	48,173
Foreign currency translation	541,338
Reclassifications/transfers	(1,095,069)
Balance	7,212,305
Accumulated depreciation and impairment losses | Oil and gas investments
Natural and environmental resources
Balance	(55,862,786)
Amortization expense	(3,286,865)
Disposals	419,374
Foreign currency translation	(1,721,997)
Reclassifications/transfers	43,046
Balance	(51,316,344)
Accumulated depreciation and impairment losses | Assets retirement obligations
Natural and environmental resources
Balance	(4,767,125)
Amortization expense	(522,165)
Disposals	89,405
Foreign currency translation	(62,189)
Reclassifications/transfers	(41,502)
Balance	(4,230,674)
Accumulated depreciation and impairment losses | Exploration and evaluation
Natural and environmental resources
Balance	(151,862)
Amortization expense	0
Disposals	0
Foreign currency translation	0
Reclassifications/transfers	5,760
Balance	(157,622)
Natural and environmental resources
Natural and environmental resources
Balance	40,965,298
Balance	35,909,844
Natural and environmental resources | Oil and gas investments
Natural and environmental resources
Balance	28,191,806
Balance	24,913,137
Natural and environmental resources | Assets retirement obligations
Natural and environmental resources
Balance	3,333,155
Balance	3,942,024
Natural and environmental resources | Exploration and evaluation
Natural and environmental resources
Balance	9,440,337
Balance	7,054,683
Natural and environmental resources | Cost [member]
Natural and environmental resources
Balance	101,747,071
Additions/capitalizations	7,472,555
Abandonment cost update (Note 23)	(51,227)
Disposals	(871,498)
Write off exploratory assets and dry wells	(436,980)
Capitalized financial interests	137,821
Exchange differences capitalized	1,205
Effect of adopting new standards	48,173
Foreign currency translation	3,856,018
Reclassifications/transfers	(23,480)
Balance	91,614,484
Natural and environmental resources | Accumulated depreciation and impairment losses
Natural and environmental resources
Balance	(60,781,773)
Amortization expense	(3,809,030)
Disposals	508,779
Foreign currency translation	(1,784,186)
Reclassifications/transfers	7,304
Balance	$ (55,704,640)

Right-of-use assets (Details)

Right-of-use assets (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 COP ($)
Right of Use Assets Rollforward
Balance at the beginning	$ 496,678
Balance at the end	605,332
Lease liabilities
Lease Liabilities Rollforward [Abstract]
Balance at the beginning	1,165,099
Additions	249,574
Remeasurements	16,183
Disposals	(23,280)
Finance cost	50,366
Payment of capital and interests	(311,696)
Reclassifications/transfers	(2,238)
Exchange difference	52,195
Balance at the end	1,196,203
Pipelines
Right of Use Assets Rollforward
Balance at the beginning	77,019
Additions	33,688
Amortization of the period	(18,133)
Remeasurements	$ (110)
Disposals	3,109
Reclassifications/transfers	$ (540)
Exchange difference	5,526
Balance at the end	94,341
Lands and buildings
Right of Use Assets Rollforward
Balance at the beginning	199,070
Additions	69,656
Amortization of the period	(43,240)
Remeasurements	$ (5,828)
Disposals	1,599
Reclassifications/transfers	$ 208
Exchange difference	24,106
Balance at the end	242,373
Plant and equipments
Right of Use Assets Rollforward
Balance at the beginning	121,384
Additions	61,004
Amortization of the period	(42,356)
Remeasurements	$ 5,105
Disposals	17,966
Reclassifications/transfers	$ 551
Exchange difference	4,445
Balance at the end	132,167
Vehicles
Right of Use Assets Rollforward
Balance at the beginning	99,205
Additions	85,226
Amortization of the period	(71,827)
Remeasurements	$ 11,952
Disposals	214
Reclassifications/transfers	$ (43)
Exchange difference	12,152
Balance at the end	136,451
Right-of-use assets
Right of Use Assets Rollforward
Balance at the beginning	496,678
Additions	249,574
Amortization of the period	(175,556)
Remeasurements	$ 11,119
Disposals	22,888
Reclassifications/transfers	$ 176
Exchange difference	46,229
Balance at the end	$ 605,332

Intangible assets (Details)

Intangible assets (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 COP ($)
Intangible assets
Beginning Balance	$ 15,508,516
Ending Balance	17,009,782
Licences and software
Intangible assets
Beginning Balance	428,994
Ending Balance	541,867
Other intangibles
Intangible assets
Beginning Balance	786,788
Ending Balance	849,438
Concessions and rights
Intangible assets
Beginning Balance	12,625,316
Ending Balance	14,195,985
Easements
Intangible assets
Beginning Balance	1,667,418
Ending Balance	1,422,492
Intangible assets
Intangible assets
Beginning Balance	15,508,516
Ending Balance	17,009,782
Cost [member] | Licences and software
Intangible assets
Beginning Balance	1,118,811
Additions/capitalizations	198,295
Increase (decrease) related to business combination (Note 12)	0
Disposals	(6,208)
Foreign currency translation	46,737
Reclassifications/transfers	4,158
Ending Balance	1,361,793
Cost [member] | Other intangibles
Intangible assets
Beginning Balance	940,080
Additions/capitalizations	11,507
Increase (decrease) related to business combination (Note 12)	12,670
Disposals	0
Foreign currency translation	210,171
Reclassifications/transfers	(1,068)
Ending Balance	1,173,360
Cost [member] | Concessions and rights
Intangible assets
Beginning Balance	13,503,441
Additions/capitalizations	488,761
Increase (decrease) related to business combination (Note 12)	(117,270)
Disposals	(95,875)
Foreign currency translation	2,250,536
Reclassifications/transfers	530
Ending Balance	16,030,123
Cost [member] | Easements
Intangible assets
Beginning Balance	1,733,379
Additions/capitalizations	3,434
Increase (decrease) related to business combination (Note 12)	(318,389)
Foreign currency translation	57,336
Reclassifications/transfers	16,958
Ending Balance	1,492,718
Cost [member] | Intangible assets
Intangible assets
Beginning Balance	17,295,711
Additions/capitalizations	701,997
Increase (decrease) related to business combination (Note 12)	(422,989)
Disposals	(102,083)
Foreign currency translation	2,564,780
Reclassifications/transfers	20,578
Ending Balance	20,057,994
Accumulated amortization and impairment losses | Licences and software
Intangible assets
Beginning Balance	(689,817)
Amortization of the period	(94,266)
Disposals	3,231
Foreign currency translation	(39,181)
Reclassifications/transfers	107
Ending Balance	(819,926)
Accumulated amortization and impairment losses | Other intangibles
Intangible assets
Beginning Balance	(153,292)
Amortization of the period	(22,889)
Disposals	0
Foreign currency translation	(147,467)
Reclassifications/transfers	(274)
Ending Balance	(323,922)
Accumulated amortization and impairment losses | Concessions and rights
Intangible assets
Beginning Balance	(878,125)
Amortization of the period	(472,193)
Disposals	95,875
Foreign currency translation	(579,720)
Reclassifications/transfers	25
Ending Balance	(1,834,138)
Accumulated amortization and impairment losses | Easements
Intangible assets
Beginning Balance	(65,961)
Amortization of the period	(4,265)
Ending Balance	(70,226)
Accumulated amortization and impairment losses | Intangible assets
Intangible assets
Beginning Balance	(1,787,195)
Amortization of the period	(593,613)
Disposals	99,106
Foreign currency translation	(766,368)
Reclassifications/transfers	(142)
Ending Balance	$ (3,048,212)

Impairment of non-current ass_2

Impairment of non-current assets (Details) - COP ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Invercolsa S.A.
Impairment of non-current assets [Line items]
Recovery of impairment loss	$ 24
Ocensa and ISA
Impairment of non-current assets [Line items]
Impairment loss		$ 2,557
Office-type Containers | Refinera de Cartagena
Impairment of non-current assets [Line items]
Impairment loss	$ 5,540	$ 4,320

Goodwill (Details)

Goodwill (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Goodwill
Goodwill	$ 5,238,201	$ 4,686,324
Cost [member]
Goodwill
Goodwill	5,535,322	4,983,445
Cost [member] | Oleoducto Central S.A.
Goodwill
Goodwill	683,496	683,496
Cost [member] | Hocol Petroleum Ltd
Goodwill
Goodwill	537,598	537,598
Cost [member] | Andean Chemical Limited
Goodwill
Goodwill	127,812	127,812
Cost [member] | Esenttia S.A.
Goodwill
Goodwill	108,137	108,137
Cost [member] | Interconexion Electrica S.A. E.S.P. [Member]
Goodwill
Goodwill	3,643,922	3,092,045
Cost [member] | Invercolsa S.A. [member]
Goodwill
Goodwill	434,357	434,357
Accumulated impairment | Hocol Petroleum Ltd
Goodwill
Goodwill	$ (297,121)	$ (297,121)

Loans and borrowings (Details)

Loans and borrowings (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 107,739,990	$ 95,060,928
Current	22,614,434	9,206,283
Non-current	85,125,556	85,854,645
Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	8,245,710	7,881,775
Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 99,494,280	$ 87,179,153
Bonds | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	9.80%	9.10%
Borrowings	$ 5,197,949	$ 4,941,024
Bonds | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	6.10%	5.70%
Borrowings	$ 77,547,079	$ 66,603,695
Syndicate loans | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	11.80%	5.40%
Borrowings	$ 443,541	$ 600,452
Lease liabilities | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	7.60%	6.30%
Borrowings	$ 829,123	$ 823,922
Lease liabilities | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	6%	6%
Borrowings	$ 367,080	$ 341,177
Commercial loans and others | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	10.20%	7.80%
Borrowings	$ 1,775,097	$ 1,516,377
Commercial and syndicate loans | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	4.60%	3.50%
Borrowings	$ 20,810,085	$ 18,750,580
Loans from related parties | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings, interest rate	2.70%	0.30%
Borrowings	$ 770,036	$ 1,483,701
Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	8,245,710
Local currency | Bonds
Disclosure of detailed information about borrowings [line items]
Borrowings	5,197,949
Local currency | Lease liabilities
Disclosure of detailed information about borrowings [line items]
Borrowings	829,123
Local currency | Commercial loans and others
Disclosure of detailed information about borrowings [line items]
Borrowings	1,775,097
Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	99,494,280
Foreign currency | Bonds
Disclosure of detailed information about borrowings [line items]
Borrowings	77,547,079
Foreign currency | Lease liabilities
Disclosure of detailed information about borrowings [line items]
Borrowings	367,080
Foreign currency | Commercial loans
Disclosure of detailed information about borrowings [line items]
Borrowings	14,697,191
Foreign currency | Loans from related parties
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 770,036

Loans and borrowings - Maturity

Loans and borrowings - Maturity of loans and borrowings (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 107,739,990	$ 95,060,928
Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	8,245,710
Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	99,494,280
Up to 1 year
Disclosure of detailed information about borrowings [line items]
Borrowings	22,614,434
Up to 1 year | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,084,580
Up to 1 year | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	21,529,854
From 1 to 5 years
Disclosure of detailed information about borrowings [line items]
Borrowings	40,105,247
From 1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	2,444,951
From 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	37,660,296
From 5 to 10 years
Disclosure of detailed information about borrowings [line items]
Borrowings	25,094,709
From 5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	2,396,163
From 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	22,698,546
More than 10 years
Disclosure of detailed information about borrowings [line items]
Borrowings	19,925,600
More than 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	2,320,016
More than 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	17,605,584
Bonds | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	5,197,949
Bonds | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	77,547,079
Bonds | Up to 1 year | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	380,320
Bonds | Up to 1 year | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	11,776,966
Bonds | From 1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,276,812
Bonds | From 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	25,921,456
Bonds | From 5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,528,337
Bonds | From 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	22,370,391
Bonds | More than 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	2,012,480
Bonds | More than 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	17,478,266
Syndicate loans | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	443,541
Syndicate loans | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	6,112,894
Syndicate loans | Up to 1 year | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	253,128
Syndicate loans | Up to 1 year | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,891,747
Syndicate loans | From 1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	190,413
Syndicate loans | From 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	4,193,005
Syndicate loans | From 5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Syndicate loans | From 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	28,142
Syndicate loans | More than 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Syndicate loans | More than 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Commercial loans [Member] | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	14,697,191
Commercial loans [Member] | Up to 1 year | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	6,977,769
Commercial loans [Member] | From 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	7,325,784
Commercial loans [Member] | From 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	266,320
Commercial loans [Member] | More than 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	127,318
Commercial loans and others [Member] | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	1,775,097
Commercial loans and others [Member] | Up to 1 year | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	283,806
Commercial loans and others [Member] | From 1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	565,368
Commercial loans and others [Member] | From 5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	619,110
Commercial loans and others [Member] | More than 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	306,813
Loans from related parties [Member] | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	770,036
Loans from related parties [Member] | Up to 1 year | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	770,036
Loans from related parties [Member] | From 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Loans from related parties [Member] | From 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Loans from related parties [Member] | More than 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	0
Lease liabilities [Member} | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	829,123
Lease liabilities [Member} | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	367,080
Lease liabilities [Member} | Up to 1 year | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	167,326
Lease liabilities [Member} | Up to 1 year | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	113,336
Lease liabilities [Member} | From 1 to 5 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	412,358
Lease liabilities [Member} | From 1 to 5 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	220,051
Lease liabilities [Member} | From 5 to 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	248,716
Lease liabilities [Member} | From 5 to 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	33,693
Lease liabilities [Member} | More than 10 years | Local currency
Disclosure of detailed information about borrowings [line items]
Borrowings	723
Lease liabilities [Member} | More than 10 years | Foreign currency
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 0

Loans and borrowings - Addition

Loans and borrowings - Additional Information (Details) $ / shares in Units, $ in Millions, $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2022 COP ($) $ / shares	Sep. 30, 2021 COP ($)	Dec. 31, 2021 COP ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Nov. 26, 2021 USD ($)
Disclosure of detailed information about borrowings [line items]
Increase in exchange rate of Colombian pesos per dollar | $ / shares	$ 609
Proceeds obtained from loans and borrowings	$ 10,458,560
Strategic commercial and operational viability amount	20,252,997
Fair value of loans and borrowings	99,947,506		$ 99,258,034
Hedges with derivative instruments				$ 8,791	$ 8,208	$ 326
Repayment of loans and borrowings	11,614,789	$ 913,016
Brazil
Disclosure of detailed information about borrowings [line items]
Strategic commercial and operational viability amount	2,441,558
Colombia
Disclosure of detailed information about borrowings [line items]
Strategic commercial and operational viability amount	2,679,000
Chile
Disclosure of detailed information about borrowings [line items]
Strategic commercial and operational viability amount	15,132,439
Hedge of a net investment in a foreign operation
Disclosure of detailed information about borrowings [line items]
Hedges with derivative instruments				9,117
Cash flow hedging
Disclosure of detailed information about borrowings [line items]
Hedges with derivative instruments				4,972
Local Borrowings | Hedge of a net investment in a foreign operation
Disclosure of detailed information about borrowings [line items]
Hedges with derivative instruments				14,089
Ecopetrol S.A.
Disclosure of detailed information about borrowings [line items]
Proceeds obtained from loans and borrowings	6,010,259
Short-term financing	5,384,315			1,200
Financing line	5,384,315			1,200
Ecopetrol S.A. | BNP Paribas
Disclosure of detailed information about borrowings [line items]
Short-term financing	625,944			160
Financing line	625,944			$ 160
Interconexion Electrica S.A. E.S.P.
Disclosure of detailed information about borrowings [line items]
Proceeds obtained from loans and borrowings	4,369,744
Interconexion Electrica S.A. E.S.P. | Consorcio Transmantaro
Disclosure of detailed information about borrowings [line items]
Issuance of corporate bonds issued by subsidiary	$ 2,063,735

Trade and other payables (Detai

Trade and other payables (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current
Suppliers	$ 11,780,282	$ 10,470,260
Dividends payable (1)	1,958,736	58,668
Withholding tax	970,447	717,720
Partner's advances	900,259	1,060,349
Insurance and reinsurance	478,976	294,114
Deposits received from third parties	145,989	136,310
Related parties (Note 31)	73,403	66,598
Agreements in transport contracts	31,816	33,883
Hedging operations (2)	13,101	2,032
Various creditors	736,940	728,297
Total trade and other current payables	17,089,949	13,568,231
Non-current
Suppliers	24,544	8,260
Various creditors	38,988	62,347
Total trade and other non-current payables	$ 63,532	$ 70,607

Trade and other payables - Addi

Trade and other payables - Additional information (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable	$ 1,958,736	$ 58,668
Ecopetrol S.A.
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable	1,589,000	3,714
Interconexion Electrica S.A
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable	215,150	53,976
Oleoducto de los Llanos Orientales S.A
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable	34,735
Inversiones de Gases de Colombia S.A. [Member]
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable	74,696	$ 978
Oleoducto de Colombia S.A.
Disclosure Of Trade And Other Payables (Line Items)
Dividends payable	$ 45,155

Provisions for employees' ben_3

Provisions for employees' benefits (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Post-employment benefits
Post-employment benefits	$ 13,240,290	$ 11,379,045
Current	2,217,195	2,296,253
Non-current	11,023,095	9,082,792
Health
Post-employment benefits
Post-employment benefits	6,751,292	6,636,809
Pension
Post-employment benefits
Post-employment benefits	3,748,424	2,159,530
Education
Post-employment benefits
Post-employment benefits	431,243	443,761
Bonds
Post-employment benefits
Post-employment benefits	515,969	320,833
Other plans
Post-employment benefits
Post-employment benefits	108,051	91,476
Termination benefits - Voluntary retirement plan
Post-employment benefits
Post-employment benefits	675,210	746,585
Post employment and termination benefits
Post-employment benefits
Post-employment benefits	12,230,189	10,398,994
Social benefits and salaries
Post-employment benefits
Post-employment benefits	874,892	856,198
Other long-term benefits
Post-employment benefits
Post-employment benefits	$ 135,209	$ 123,853

Provisions for employees' ben_4

Provisions for employees' benefits - Additional Information (Details) - COP ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Disclosure of defined benefit plans [line items]
Assets of benefit plan	$ 10,429,486	$ 12,068,525
Level 1 of fair value hierarchy [member]
Disclosure of defined benefit plans [line items]
Percentage of plan assets	53.65%	36.99%
Level 2 of fair value hierarchy [member]
Disclosure of defined benefit plans [line items]
Percentage of plan assets	46.35%	63.01%

Accrued liabilities and provi_3

Accrued liabilities and provisions (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 COP ($)
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	$ 14,232,207
Abandonment cost update	(188,752)
Additions	346,988
Uses	(661,796)
Financial cost	268,775
Foreign currency translation	266,758
Reversal of provision for sale of assets (1)	(188,540)
Transfers	(28,326)
Balance End Period	14,047,314
Current	1,118,310
Non-current	12,929,004
Abandonment and dismantling costs
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	11,890,319
Abandonment cost update	(188,752)
Additions	842
Uses	(433,543)
Financial cost	250,943
Foreign currency translation	142,899
Reversal of provision for sale of assets (1)	(188,540)
Transfers	2,492
Balance End Period	11,476,660
Current	538,453
Non-current	10,938,207
Litigations
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	703,966
Abandonment cost update	0
Additions	55,573
Uses	(24,409)
Financial cost	8,132
Foreign currency translation	53,342
Transfers	(8,762)
Balance End Period	787,842
Current	65,059
Non-current	722,783
Environmental contingencies and others
Disclosure of accrued liabilities and provisions [Line Items]
Balance Beginning period	1,637,922
Abandonment cost update	0
Additions	290,573
Uses	(203,844)
Financial cost	9,700
Foreign currency translation	70,517
Transfers	(22,056)
Balance End Period	1,782,812
Current	514,798
Non-current	$ 1,268,014

Accrued liabilities and provi_4

Accrued liabilities and provisions - Additional information (Details) $ in Millions			9 Months Ended
	Aug. 18, 2022 item	Jul. 05, 2022 item	Sep. 30, 2022 item	Feb. 03, 2022 COP ($)
Disclosure of accrued liabilities and provisions [Line Items]
Litigation related to tax liability | $				$ 1,936
Minimum period of sentence in prison	64 months
Fine of current monthly legal minimum salaries in Colombia.	66.66
Refineria de Cartagena
Disclosure of accrued liabilities and provisions [Line Items]
Number of ex-workers of who acted as ex-president in property and ex-president in charge			2
Number of issues of an administrative nature established		2

Equity - Ecopetrol Business Gro

Equity - Ecopetrol Business Groups reserves (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Equity
Other reserves	$ 8,898,633	$ 10,624,229
Extraordinary dividend declared	6,907,605
Legal reserve
Equity
Other reserves	6,407,256	4,737,788
Fiscal and statutory reserves
Equity
Other reserves	509,082	509,082
Occasional reserves
Equity
Other reserves	1,982,295	5,377,359
Reserves to support financial sustainability
Equity
Other reserves	8,889,900	$ 5,377,359
Extraordinary dividend declared	$ 6,907,605

Equity - Movement of equity res

Equity - Movement of equity reserves (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Equity
Opening balance	$ 90,583,772	$ 53,499,363
Dividends declared	(1,307,231)
Closing balance	102,689,797	91,078,480
Equity reserves
Equity
Opening balance	10,624,229	9,635,136
Release of reserves	(5,886,441)	(5,066,156)
Appropriation of reserves	11,068,450	6,055,249
Dividends declared	(6,907,605)
Closing balance	$ 8,898,633	$ 10,624,229

Equity - Other comprehensive in

Equity - Other comprehensive income (Details) - COP ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Equity
Financial instruments measured at fair value	$ 5,793,269	$ 916,548
Other comprehensive income
Equity
Foreign currency translation and others	25,569,813		$ 17,244,256
Hedges of a net investment in a foreign operation	(7,919,862)		(4,364,466)
Loss on defined benefit obligation	(1,555,320)		(517,278)
Cash flow hedging - Future crude oil exports	(2,540,214)		(945,250)
Cash flow hedging - Derivative financial instruments	(20,687)		(61,502)
Financial instruments measured at fair value	725		2,134
Other comprehensive income attributable to owners of parent	$ 13,534,455		$ 11,357,894

Equity - Earnings per share (De

Equity - Earnings per share (Details) - COP ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Equity
Profit attributable to Ecopetrol's shareholders	$ 24,770,909	$ 10,217,081
Weighted average number of outstanding shares	41,116,694,690	41,116,694,690
Net basic earnings per share (Colombian pesos)	$ 602.5	$ 248.5

Equity - Additional information

Equity - Additional information (Details) - COP ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Equity
Capital commitments	$ 36,540,000
Number of shares authorised	60,000,000,000
Number of shares subscribed	41,116,694,690
Proportion of shares available for public trade	11.51%
Number of shares available for public trade	4,731,906,273
Proportion of shares held by majority share holders	88.49%
Number of shares held by majority share holders	36,384,788,417
Capital reserve	$ 11,499,933
Number of shares reserved for issue under options and contracts for sale of shares	18,883,305,310
Additional paid-in capital	$ 6,607,699		$ 6,607,699
Additional paid-in capital receivable	(143)
Subscribed and paid-in capital	25,040,067		25,040,067
Dividends paid	11,186,951	$ 1,424,456	1,424,456
Dividends approved for distribution	11,512,675		698,984
Extraordinary dividend declared	6,907,605
Ecopetrol S.A.
Equity
Dividends paid	10,037,445		696,387
Interconexin elctrica S.A. E.S.P
Equity
Dividends paid	356,773
Oleoducto Central S.A.
Equity
Dividends paid	516,284		484,829
Inversiones de Gases de Colombia S.A.
Equity
Dividends paid	126,161		103,203
Oleoducto de los Llanos Orientales S.A
Equity
Dividends paid	104,205		99,263
Oleoducto de Colombia S.A.
Equity
Dividends paid	46,083		$ 40,774
Share-based payment arrangements
Equity
Additional paid-in capital	31,377
Share-based payment arrangements | Colombian Peso
Equity
Additional paid-in capital	4,457,997
Financial guarantee contracts
Equity
Additional paid-in capital	$ 2,118,468

Revenue from contracts with c_3

Revenue from contracts with customers - National and foreign sales (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Revenue from contracts with customers
Revenue	$ 119,898,794	$ 60,085,808
National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	60,962,385	30,034,537
Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	58,936,409	30,051,271
Mid-distillates [Member] | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	28,031,166	11,431,003
Gasolines [Member] | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	20,610,595	10,337,295
Gasolines [Member] | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	157,685
Natural gas | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	3,016,677	2,280,859
Natural gas | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	189,665	39,172
Services | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	2,643,135	2,127,151
Electric Power Transmission Services [Member] | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	1,934,461	156,362
Electric Power Transmission Services [Member] | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	3,750,829	505,048
Plastic and rubber | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	1,216,431	1,185,041
Plastic and rubber | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	1,621,076	1,558,910
L.P.G. and propane [Member] | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	807,235	613,302
L.P.G. and propane [Member] | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	242,581	58,079
Asphalts | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	634,240	446,739
Fuel gas Service | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	621,349	537,301
Roads and construction services [Member] | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	255,736	22,607
Roads and construction services [Member] | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	3,209,685	274,729
Aromatics | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	242,045	176,646
Polyethylene [Member] | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	220,975	272,295
Crude oil | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	214,587	136,644
Crude oil | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	43,946,601	22,608,325
Fuel oil | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	4,499	20,920
Fuel oil | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	3,628,416	1,634,934
Other income - Gas contracts | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	2,679	5,527
Other products [Member] | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	506,575	284,853
Other products [Member] | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	1,261,563	667,793
Cash flow hedging | National sales [Member]
Revenue from contracts with customers
Revenue from sale of goods		(8)
Cash flow hedging | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	(968,534)	(231,014)
Diesel | Foreign sales [Member]
Revenue from contracts with customers
Revenue from sale of goods	$ 1,896,842	$ 2,935,295

Revenue from contracts with c_4

Revenue from contracts with customers - Additional information (Details) $ in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2022 COP ($)	Sep. 30, 2021 COP ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 COP ($)	Dec. 31, 2021 USD ($)	Nov. 26, 2021 USD ($)
Revenue from contracts with customers
Recognition of price differential	$ 26,584,199	$ 6,916,763
Hedges with derivative instruments			$ 8,791		$ 8,208	$ 326
Fuel oil [Member]
Revenue from contracts with customers
Hedges with derivative instruments		79,231		$ 391,659
Cash flow hedging
Revenue from contracts with customers
Hedges with derivative instruments		$ 151,791		$ 576,875
Natural gas | National sales
Revenue from contracts with customers
Extensive tests	34,197
Crude oil | Foreign sales
Revenue from contracts with customers
Extensive tests	$ 104,493

Cost of sales (Details)

Cost of sales (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cost of variables and fixed
Total Costs Variables	$ 50,375,848	$ 26,949,182
Construction services	1,888,186	183,359
Total Fixed cost	15,082,393	9,500,260
Cost of sales	65,458,241	36,449,442
Variable Costs
Cost of variables and fixed
Imported products	23,243,685	11,265,184
Purchases of crude in associations and concessions	11,712,144	6,801,926
Hydrocarbons purchases - ANH	6,929,845	3,965,823
Depreciation, depletion, and amortization	4,985,749	4,956,510
Gas royalties in cash	1,073,435	750,987
Electric Energy	1,074,527	773,844
Hydrocarbon transportation services	869,983	664,965
Purchases of other products and gas	879,966	581,821
Processing materials	828,599	643,876
Services contracted in association	239,872	201,624
Extensive tests	43,289
Others	(1,505,246)	(3,657,378)
Fixed cost
Cost of variables and fixed
Hydrocarbon transportation services	133,837	42,815
Services contracted in association	1,175,197	919,203
Depreciation and amortization	3,382,811	2,238,338
Maintenance	2,652,864	1,737,586
Labor costs	2,438,632	1,800,954
Contracted services	1,919,342	1,292,292
Taxes and contributions	725,640	685,268
Materials and operating supplies	452,560	386,994
General costs	$ 313,324	$ 213,451

Administrative, operation and_2

Administrative, operation and project expenses (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Administrative, operation and project expenses:
Administrative expenses	$ 2,844,627	$ 1,934,557
Operations and project expenses	2,833,523	1,993,083
Administration expenses.
Administrative, operation and project expenses:
General expenses	1,269,973	962,822
Labor expenses	1,208,844	856,232
Depreciation and amortization	314,566	74,294
Taxes	51,244	41,209
Operations and project expenses
Administrative, operation and project expenses:
Labor expenses	270,162	224,535
Depreciation and amortization	73,700	115,038
Taxes	562,837	349,726
Commissions, fees, freights and services	896,113	453,032
Exploration expenses	637,590	536,293
Fee for regulatory entities	123,128	114,843
Maintenance	82,440	119,253
Others	$ 187,553	$ 80,363

Other operating income (expen_3

Other operating income (expense) (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Other operating income (expense).
Litigation and contingencies	$ (310,406)	$ (400,136)
Loss on sale of assets	(38,309)	(56,548)
Impairment of current assets	(46,434)	(18,795)
Other income	92,478	39,922
Other operating income (expense), net	$ (302,671)	$ (435,557)

Financial results (Details)

Financial results (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Finance income
Yields and interests	$ 612,914	$ 130,398
Results from financial assets	124,493	87,747
Gain on derivatives valuation/ settlement	11,834	7,497
Other financial income	138,157	17,121
Finance income	887,398	242,763
Financial expenses
Financial cost of loans and borrowings	(3,886,375)	(1,867,718)
Financial cost of other liabilities	(1,559,080)	(698,534)
Results from financial assets	(125,493)	(75,174)
Other financial expenses	(304,929)	(132,869)
Financial expenses	(5,875,877)	(2,774,295)
Foreign exchange loss	(377,527)	(10,387)
Realized gain of other comprehensive income from the sale of joint ventures	0	361,728
Foreign exchange (loss) gain	(377,527)	351,341
Financial result	$ (5,366,006)	$ (2,180,191)

Risk management - Financial ass

Risk management - Financial assets and liabilities (Details) $ in Millions, $ in Millions	Sep. 30, 2022 COP ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 COP ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 COP ($)	Dec. 31, 2020 COP ($)
Risk management
Cash and cash equivalents	$ 12,917,748		$ 14,549,906		$ 10,086,787	$ 5,082,308
Other financial assets	$ 3,199,418		$ 2,934,734
USD$ Million
Risk management
Cash and cash equivalents		$ 454		$ 388
Other financial assets		1,078		408
Trade receivables and payables		196		423
Loans and borrowings		(15,886)		(15,514)
Other assets and liabilities		2		702
Net liability position		$ (14,156)		$ (13,593)

Risk management - Financial a_2

Risk management - Financial assets and liabilities denominated in foreign currency (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 COP ($)
Risk management
Scenario / variation in the exchange rate	1%
variation in the exchange rate	5%
Credit risk in U.S. dollar portfolio
Risk management
Scenario / variation in the exchange rate	1%
USD$ Million
Risk management
variation in the exchange rate	5%
Currency risk
Risk management
One Percent variations in exchange rate, Effect on income before income taxes	$ 3,094
One percent variations in exchange rate, effect on other comprehensive income	646,743
Five Percent variations in exchange rate, Effect on income before income taxes	15,471
Five Percent variations in exchange rate, effect on other comprehensive income	$ 3,233,713

Risk management - Non derivativ

Risk management - Non derivative hedging instrument (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Risk management
Designation of new hedges	$ 4,972
Cash flow hedging
Risk management
Opening balance	4,972	$ 1,300
Reassignment of hedging instruments	682	675
Realized exports	(682)	(675)
Designation of new hedges	0	3,672
Closing balance	$ 4,972	$ 4,972

Risk management - Cash flow hed

Risk management - Cash flow hedge for future exports - Movement in other comprehensive income (Details) - COP ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Risk management
Opening balance	$ (945,250)	$ (136,470)
Exchange difference	(3,029,837)	(1,533,744)
Realized exports	576,875	249,976
Ineffectiveness	(949)	24,496
Deferred tax	858,947	450,492
Closing balance	$ (2,540,214)	$ (945,250)

Risk management - Expected recl

Risk management - Expected reclassification of the cumulative exchange difference from other comprehensive income to profit or loss (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 COP ($)
Expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss
Before taxes	$ 3,908,021
Taxes	(1,367,807)
After taxes	2,540,214
2022 (Oct-Dec)
Expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss
Before taxes	2,035,396
Taxes	(712,387)
After taxes	1,323,009
2023
Expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss
Before taxes	(72,675)
Taxes	25,436
After taxes	(47,239)
2024
Expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss
Before taxes	690,910
Taxes	(241,819)
After taxes	449,091
2025
Expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss
Before taxes	663,040
Taxes	(232,064)
After taxes	430,976
2026
Expected reclassification of exchange differences accumulated in other comprehensive income to profit or loss
Before taxes	591,350
Taxes	(206,973)
After taxes	$ 384,377

Risk management - Hedge of a ne

Risk management - Hedge of a net investment in a foreign operation (Details) - Hedge of a net investment in a foreign operation - COP ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Risk management
Opening balance	$ 4,364,465	$ 1,494,926
Exchange difference	5,507,846	4,577,887
Deferred tax	(1,864,116)	(1,708,348)
Closing balance	$ 8,008,195	$ 4,364,465

Risk management - Leverage rati

Risk management - Leverage ratio (Details) - COP ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Risk management
Loans and borrowings	$ 107,739,990	$ 95,060,928
Cash and cash equivalents	(12,917,748)	(14,549,906)	$ (10,086,787)	$ (5,082,308)
Other financial assets	(3,199,418)	(2,934,734)
Net financial debt	91,622,824	77,576,288
Equity	$ 102,689,797	$ 90,583,772	$ 91,078,480	$ 53,499,363
Leverage	47.15%	46.13%

Risk management - Additional In

Risk management - Additional Information (Details) $ in Millions, $ in Millions

1 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2015 USD ($)

Dec. 31, 2021 USD ($)

Jun. 30, 2021 USD ($)

Sep. 30, 2022 COP ($)

Sep. 30, 2022 USD ($)

Sep. 30, 2021 COP ($)

Dec. 31, 2021 USD ($)

Sep. 30, 2022 USD ($)

Dec. 31, 2021 COP ($)

Dec. 31, 2021 USD ($)

Nov. 26, 2021 USD ($)

Dec. 31, 2020 COP ($)

Risk management

Closing foreign exchange rate

4,590.54

4,590.54

3,981.16

Net position of assets and liabilities different functional currency

$ 657

Debt principal payments

$ 11,614,789

$ 913,016

Amount in which the company expanded the hedge of a net investment in a foreign operation

$ 8,791

$ 8,208

$ 326

Maximum percentage of cash investment held in portfolio, current

5%

5%

Designation of new hedges

$ 4,972

Ecopetrol Business Group

Risk management

Amount in which the company expanded the hedge of a net investment in a foreign operation

5,200

Colombian Peso

Risk management

Net liabilities of companies in the Group with a different functional currency

13,499

Exchange difference valuation of remaining net liabilities

590

US Dollar

Risk management

Net liabilities of companies in the Group with a different functional currency

14,089

Maximum percentage of cash investment held in portfolio, current

5%

5%

Hedge of a net investment in a foreign operation

Risk management

Amount in which the company expanded the hedge of a net investment in a foreign operation

9,117

Net asset position

$ 8,008,195

$ 4,364,465

$ 1,494,926

Hedge of a net investment in a foreign operation | Ecopetrol Business Group

Risk management

Debt principal payments

$ 107

$ 163

$ 167

$ 270

Amount in which the company expanded the hedge of a net investment in a foreign operation

750

$ 1,229

Cash flow hedging for future revenues from crude oil exports, for the period 2015 - 2023

Risk management

Net asset position

$ 1,300

Designation of new hedges

$ 5,440

Cash flow hedging for future revenues from crude oil exports, for the period 2022 - 2026

Risk management

Designation of new hedges

$ 3,672

Commodity price risk [member]

Risk management

Financial assets

220,594

Total net asset (liability) position in swaps

3,637

$ 34,395

Commodity price risk [member] | Ecopetrol Trading Asia PTE. LTD

Risk management

Total net asset (liability) position in swaps

$ 17,237

Currency risk

Risk management

Increase decrease in foreign exchange rate

15.31%

15.31%

Related parties (Details)

Related parties (Details) - COP ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Joint ventures and Associates
Accounts receivable	$ 179,736	$ 9,243
Loans receivable	547	447
Other assets	889	1,386
Accounts payable	73,403	66,598
Loans payable	770,036	1,483,701
Other liabilities	95	233
Accounts receivable, Current	179,736	9,243
Loans receivable - Current	212	112
Loans receivable Non-current	335	335
Other assets, Current	889	1,386
Accounts payable, Current	73,403	66,598
Loans, Current	770,036	1,483,701
Other liabilities, Current	95	233
Gases del Caribe S.A. E.S.P.
Joint ventures and Associates
Accounts receivable	93,009
Gas Natural del Oriente S.A. E.S.P.
Joint ventures and Associates
Accounts receivable	3,592
Accounts payable	7,031	5,211
Gases de la Guajira S.A. E.S.P.
Joint ventures and Associates
Accounts receivable	1,797
Extrucol S.A.
Joint ventures and Associates
Accounts receivable	936
Accounts payable	389	283
E2 Energia Eficiente S.A. E.S.P.
Joint ventures and Associates
Accounts receivable	11,238	6,797
Accounts payable	1,345	1,655
Equion Energa Limited
Joint ventures and Associates
Accounts receivable	42	925
Other assets	889	1,386
Accounts payable	3,205	12,997
Loans payable	770,036	1,483,701
Other liabilities	93	233
Ecodiesel Colombia S.A.
Joint ventures and Associates
Accounts receivable	3,957	1,521
Accounts payable	61,433	46,452
Other liabilities	2
Interligao Eltrica do Madeira S.A.
Joint ventures and Associates
Accounts receivable	52,555
Interligao Eltrica Garanhuns S.A.
Joint ventures and Associates
Accounts receivable	12,610
Loans receivable	68	28
Interligao Eltrica Paraguau S.A.
Joint ventures and Associates
Loans receivable	7	28
Interligao Eltrica Aimors S.A.
Joint ventures and Associates
Loans receivable		28
Interligao Eltrica Iva S.A.
Joint ventures and Associates
Loans receivable	137	28
Derivex S.A.
Joint ventures and Associates
Loans receivable	$ 335	$ 335

Related parties - Transactions

Related parties - Transactions with related parties (Details) - COP ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Main transactions with related parties
Sales and services	$ 79,570	$ 83,880
Purchases of product and others	515,219	395,314
Joint ventures
Main transactions with related parties
Sales and services	14,423	41,973
Purchases of product and others	484,012	367,316
Associates
Main transactions with related parties
Sales and services	65,147	41,907
Purchases of product and others	31,207	27,998
Gas Natural del Oriente S.A. E.S.P. | Associates
Main transactions with related parties
Purchases of product and others	26,783	19,545
Extrucol S.A. | Associates
Main transactions with related parties
Sales and services	10
Purchases of product and others	2,222	1,124
E2 Energia Eficiente S.A. E.S.P. | Associates
Main transactions with related parties
Sales and services	65,137	41,907
Purchases of product and others	2,202	7,329
Equion Energa Limited | Joint ventures
Main transactions with related parties
Sales and services	430	15,829
Purchases of product and others	15,423	52,536
Ecodiesel Colombia S.A. | Joint ventures
Main transactions with related parties
Sales and services	13,993	26,144
Purchases of product and others	$ 468,589	$ 314,780

Segments information (Details)

Segments information (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Statement of profit or loss by segment
Revenue from contracts with customers	$ 119,898,794	$ 60,085,808
Costs of sales	(65,458,241)	(36,449,442)
Gross profit	54,440,553	23,636,366
Administration expenses	(2,844,627)	(1,934,557)
Operation and projects expenses	(2,833,523)	(1,993,083)
Impairment of non-current assets	(5,516)	1,763
Other operating expenses	(302,671)	(435,557)
Operating income	48,454,216	19,274,932
Financial results
Financial income	887,398	242,763
Financial expenses	(5,875,877)	(2,774,295)
Foreign exchange (loss) gain	(377,527)	351,341
Financial results	(5,366,006)	(2,180,191)
Share of profits of associates and joint ventures	656,680	225,914
Profit before income tax expense	43,744,890	17,320,655
Income tax expense	(16,214,065)	(6,045,669)
Net profit for the period	27,530,825	11,274,986
Net profit attributable to:
Owners of parent	24,770,909	10,217,081
Non-controlling interest	2,759,916	1,057,905
Net profit for the period	27,530,825	11,274,986
Third party sales
Statement of profit or loss by segment
Revenue from contracts with customers	119,898,794	60,085,808
Operating segments | Exploration and Production
Statement of profit or loss by segment
Revenue from contracts with customers	70,007,372	43,612,004
Costs of sales	(34,896,814)	(28,434,970)
Gross profit	35,110,558	15,177,034
Administration expenses	(1,537,478)	(1,164,805)
Operation and projects expenses	(1,871,806)	(1,132,911)
Other operating expenses	(193,586)	(397,809)
Operating income	31,507,688	12,481,509
Financial results
Financial income	656,434	384,275
Financial expenses	(2,117,736)	(1,772,996)
Foreign exchange (loss) gain	(102,929)	(103,969)
Financial results	(1,564,231)	(1,492,690)
Share of profits of associates and joint ventures	8,741	12,569
Profit before income tax expense	29,952,198	11,001,388
Income tax expense	(10,809,210)	(3,898,652)
Net profit for the period	19,142,988	7,102,736
Net profit attributable to:
Owners of parent	19,209,590	7,210,942
Non-controlling interest	(66,602)	(108,206)
Net profit for the period	19,142,988	7,102,736
Operating segments | Exploration and Production | Third party sales
Statement of profit or loss by segment
Revenue from contracts with customers	47,423,709	25,466,140
Operating segments | Exploration and Production | Inter-segment sales
Statement of profit or loss by segment
Revenue from contracts with customers	22,583,663	18,145,864
Operating segments | Refining and Petrochemicals
Statement of profit or loss by segment
Revenue from contracts with customers	66,114,562	35,038,490
Costs of sales	(59,242,324)	(33,495,298)
Gross profit	6,872,238	1,543,192
Administration expenses	(487,623)	(518,004)
Operation and projects expenses	(866,722)	(671,309)
Impairment of non-current assets	(5,516)	3,529
Other operating expenses	(31,033)	(27,012)
Operating income	5,481,344	330,396
Financial results
Financial income	59,308	17,043
Financial expenses	(974,944)	(834,954)
Foreign exchange (loss) gain	(244,300)	(46,466)
Financial results	(1,159,936)	(864,377)
Share of profits of associates and joint ventures	171,348	163,982
Profit before income tax expense	4,492,756	(369,999)
Income tax expense	(2,664,643)	111,777
Net profit for the period	1,828,113	(258,222)
Net profit attributable to:
Owners of parent	1,684,580	(395,371)
Non-controlling interest	143,533	137,149
Net profit for the period	1,828,113	(258,222)
Operating segments | Refining and Petrochemicals | Third party sales
Statement of profit or loss by segment
Revenue from contracts with customers	60,987,163	31,909,679
Operating segments | Refining and Petrochemicals | Inter-segment sales
Statement of profit or loss by segment
Revenue from contracts with customers	5,127,399	3,128,811
Operating segments | Transportation and Logistics
Statement of profit or loss by segment
Revenue from contracts with customers	9,868,669	8,785,052
Costs of sales	(2,681,117)	(2,321,831)
Gross profit	7,187,552	6,463,221
Administration expenses	(339,903)	(299,640)
Operation and projects expenses	(225,224)	(246,802)
Impairment of non-current assets		(1,754)
Other operating expenses	(24,523)	6,341
Operating income	6,597,902	5,921,366
Financial results
Financial income	80,522	28,766
Financial expenses	(207,257)	(187,959)
Foreign exchange (loss) gain	(60,892)	307,627
Financial results	(187,627)	148,434
Share of profits of associates and joint ventures	(1,001)	(161)
Profit before income tax expense	6,409,274	6,069,639
Income tax expense	(2,276,607)	(1,913,888)
Net profit for the period	4,132,667	4,155,751
Net profit attributable to:
Owners of parent	3,339,949	3,291,205
Non-controlling interest	792,718	864,546
Net profit for the period	4,132,667	4,155,751
Operating segments | Transportation and Logistics | Third party sales
Statement of profit or loss by segment
Revenue from contracts with customers	1,995,275	1,795,516
Operating segments | Transportation and Logistics | Inter-segment sales
Statement of profit or loss by segment
Revenue from contracts with customers	7,873,394	6,989,536
Operating segments | Concessions, electricity transport and roads
Statement of profit or loss by segment
Revenue from contracts with customers	9,580,557	1,035,873
Costs of sales	(3,954,326)	(397,187)
Gross profit	5,626,231	638,686
Administration expenses	(754,149)	(97,644)
Operation and projects expenses		(11)
Impairment of non-current assets		(12)
Other operating expenses	(51,033)	(16,157)
Operating income	4,821,049	524,862
Financial results
Financial income	404,771	30,928
Financial expenses	(2,843,762)	(176,527)
Foreign exchange (loss) gain	30,594	194,149
Financial results	(2,408,397)	48,550
Share of profits of associates and joint ventures	477,592	49,524
Profit before income tax expense	2,890,244	622,936
Income tax expense	(463,605)	(344,906)
Net profit for the period	2,426,639	278,030
Net profit attributable to:
Owners of parent	536,372	113,614
Non-controlling interest	1,890,267	164,416
Net profit for the period	2,426,639	278,030
Operating segments | Concessions, electricity transport and roads | Third party sales
Statement of profit or loss by segment
Revenue from contracts with customers	9,578,562	1,035,873
Operating segments | Concessions, electricity transport and roads | Inter-segment sales
Statement of profit or loss by segment
Revenue from contracts with customers	1,995
Eliminations
Statement of profit or loss by segment
Revenue from contracts with customers	(35,672,366)	(28,385,611)
Costs of sales	35,316,340	28,199,844
Gross profit	(356,026)	(185,767)
Administration expenses	274,526	145,536
Operation and projects expenses	130,229	57,950
Other operating expenses	(2,496)	(920)
Operating income	46,233	16,799
Financial results
Financial income	(313,637)	(218,249)
Financial expenses	267,822	198,141
Financial results	(45,815)	(20,108)
Profit before income tax expense	418	(3,309)
Net profit for the period	418	(3,309)
Net profit attributable to:
Owners of parent	418	(3,309)
Net profit for the period	418	(3,309)
Eliminations | Third party sales
Statement of profit or loss by segment
Revenue from contracts with customers	(85,915)	(121,400)
Eliminations | Inter-segment sales
Statement of profit or loss by segment
Revenue from contracts with customers	$ (35,586,451)	$ (28,264,211)

Segments information - Sales by

Segments information - Sales by product (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Sales by product
Total sales revenue	$ 119,898,794	$ 60,085,808
National sales
Sales by product
Sales by product	60,962,385	30,034,537
National sales | Mid-distillates
Sales by product
Sales by product	28,031,166	11,431,003
National sales | Gasolines
Sales by product
Sales by product	20,610,595	10,337,295
National sales | Gas Natural
Sales by product
Sales by product	3,016,677	2,280,859
National sales | Services
Sales by product
Sales by product	2,643,135	2,127,151
National sales | Electric power transmission services
Sales by product
Sales by product	1,934,461	156,362
National sales | Roads and construction services
Sales by product
Sales by product	255,736	22,607
National sales | Fuel gas service
Sales by product
Sales by product	621,349	537,301
National sales | Plastic and rubber
Sales by product
Sales by product	1,216,431	1,185,041
National sales | Asphalts
Sales by product
Sales by product	634,240	446,739
National sales | L.P.G. and propane
Sales by product
Sales by product	807,235	613,302
National sales | Crude oil
Sales by product
Sales by product	214,587	136,644
National sales | Polyethylene
Sales by product
Sales by product	220,975	272,295
National sales | Aromatics
Sales by product
Sales by product	242,045	176,646
National sales | Fuel oil
Sales by product
Sales by product	4,499	20,920
National sales | Other income - Gas contracts
Sales by product
Sales by product	2,679	5,527
National sales | Other products
Sales by product
Sales by product	506,575	284,853
National sales | Cash flow hedging
Sales by product
Sales by product		(8)
Foreign sales
Sales by product
Sales by product	58,936,409	30,051,271
Foreign sales | Gasolines
Sales by product
Sales by product	157,685
Foreign sales | Gas Natural
Sales by product
Sales by product	189,665	39,172
Foreign sales | Electric power transmission services
Sales by product
Sales by product	3,750,829	505,048
Foreign sales | Roads and construction services
Sales by product
Sales by product	3,209,685	274,729
Foreign sales | Plastic and rubber
Sales by product
Sales by product	1,621,076	1,558,910
Foreign sales | L.P.G. and propane
Sales by product
Sales by product	242,581	58,079
Foreign sales | Crude oil
Sales by product
Sales by product	43,946,601	22,608,325
Foreign sales | Fuel oil
Sales by product
Sales by product	3,628,416	1,634,934
Foreign sales | Other products
Sales by product
Sales by product	1,261,563	667,793
Foreign sales | Diesel
Sales by product
Sales by product	1,896,842	2,935,295
Foreign sales | Cash flow hedging
Sales by product
Sales by product	(968,534)	(231,014)
Foreign sales | Construction services [Member]
Sales by product
Sales by product	3,209,685	274,729
Eliminations
Sales by product
Total sales revenue	(35,672,366)	(28,385,611)
Eliminations | National sales
Sales by product
Sales by product	(35,530,475)	(28,385,611)
Eliminations | National sales | Mid-distillates
Sales by product
Sales by product	(17,855)	(12,163)
Eliminations | National sales | Gasolines
Sales by product
Sales by product	(3,249,035)	(1,755,706)
Eliminations | National sales | Gas Natural
Sales by product
Sales by product	(766,851)	(655,561)
Eliminations | National sales | Services
Sales by product
Sales by product	(8,135,332)	(7,073,731)
Eliminations | National sales | Fuel gas service
Sales by product
Sales by product	(6,404)	(5,561)
Eliminations | National sales | L.P.G. and propane
Sales by product
Sales by product	(23,449)	(21,158)
Eliminations | National sales | Crude oil
Sales by product
Sales by product	(21,988,457)	(17,529,475)
Eliminations | National sales | Other products
Sales by product
Sales by product	(1,343,092)	(1,332,256)
Eliminations | Foreign sales
Sales by product
Sales by product	(141,891)
Eliminations | Foreign sales | Crude oil
Sales by product
Sales by product	(141,891)
Exploration and Production | Operating segments
Sales by product
Total sales revenue	70,007,372	43,612,004
Exploration and Production | Operating segments | National sales
Sales by product
Sales by product	26,484,176	21,120,866
Exploration and Production | Operating segments | National sales | Gas Natural
Sales by product
Sales by product	3,783,528	2,936,420
Exploration and Production | Operating segments | National sales | Services
Sales by product
Sales by product	386,472	77,252
Exploration and Production | Operating segments | National sales | Asphalts
Sales by product
Sales by product	32,966	16,526
Exploration and Production | Operating segments | National sales | L.P.G. and propane
Sales by product
Sales by product	550,211	396,167
Exploration and Production | Operating segments | National sales | Crude oil
Sales by product
Sales by product	21,711,604	17,666,119
Exploration and Production | Operating segments | National sales | Fuel oil
Sales by product
Sales by product	2,663	9,609
Exploration and Production | Operating segments | National sales | Other income - Gas contracts
Sales by product
Sales by product	2,679	5,527
Exploration and Production | Operating segments | National sales | Other products
Sales by product
Sales by product	14,053	13,246
Exploration and Production | Operating segments | Foreign sales
Sales by product
Sales by product	43,523,196	22,491,138
Exploration and Production | Operating segments | Foreign sales | Gas Natural
Sales by product
Sales by product	189,665	39,172
Exploration and Production | Operating segments | Foreign sales | L.P.G. and propane
Sales by product
Sales by product	242,581	58,079
Exploration and Production | Operating segments | Foreign sales | Crude oil
Sales by product
Sales by product	43,996,345	22,608,325
Exploration and Production | Operating segments | Foreign sales | Other products
Sales by product
Sales by product	27,147	16,583
Exploration and Production | Operating segments | Foreign sales | Cash flow hedging
Sales by product
Sales by product	(932,542)	(231,021)
Refining and Petrochemicals | Operating segments
Sales by product
Total sales revenue	66,114,562	35,038,490
Refining and Petrochemicals | Operating segments | National sales
Sales by product
Sales by product	57,741,794	28,280,010
Refining and Petrochemicals | Operating segments | National sales | Mid-distillates
Sales by product
Sales by product	28,049,021	11,443,166
Refining and Petrochemicals | Operating segments | National sales | Gasolines
Sales by product
Sales by product	23,859,630	12,093,001
Refining and Petrochemicals | Operating segments | National sales | Services
Sales by product
Sales by product	315,302	283,327
Refining and Petrochemicals | Operating segments | National sales | Fuel gas service
Sales by product
Sales by product	627,753	542,862
Refining and Petrochemicals | Operating segments | National sales | Plastic and rubber
Sales by product
Sales by product	1,216,431	1,185,041
Refining and Petrochemicals | Operating segments | National sales | Asphalts
Sales by product
Sales by product	601,274	430,213
Refining and Petrochemicals | Operating segments | National sales | L.P.G. and propane
Sales by product
Sales by product	280,473	238,293
Refining and Petrochemicals | Operating segments | National sales | Crude oil
Sales by product
Sales by product	491,440
Refining and Petrochemicals | Operating segments | National sales | Polyethylene
Sales by product
Sales by product	220,975	272,295
Refining and Petrochemicals | Operating segments | National sales | Aromatics
Sales by product
Sales by product	242,045	176,646
Refining and Petrochemicals | Operating segments | National sales | Fuel oil
Sales by product
Sales by product	1,836	11,311
Refining and Petrochemicals | Operating segments | National sales | Other products
Sales by product
Sales by product	1,835,614	1,603,863
Refining and Petrochemicals | Operating segments | National sales | Cash flow hedging
Sales by product
Sales by product		(8)
Refining and Petrochemicals | Operating segments | Foreign sales
Sales by product
Sales by product	8,372,768	6,758,480
Refining and Petrochemicals | Operating segments | Foreign sales | Gasolines
Sales by product
Sales by product	157,685
Refining and Petrochemicals | Operating segments | Foreign sales | Plastic and rubber
Sales by product
Sales by product	1,621,076	1,558,910
Refining and Petrochemicals | Operating segments | Foreign sales | Crude oil
Sales by product
Sales by product	92,147
Refining and Petrochemicals | Operating segments | Foreign sales | Fuel oil
Sales by product
Sales by product	3,628,416	1,634,934
Refining and Petrochemicals | Operating segments | Foreign sales | Other products
Sales by product
Sales by product	1,012,594	629,334
Refining and Petrochemicals | Operating segments | Foreign sales | Diesel
Sales by product
Sales by product	1,896,842	2,935,295
Refining and Petrochemicals | Operating segments | Foreign sales | Cash flow hedging
Sales by product
Sales by product	(35,992)	7
Transportation and Logistics | Operating segments
Sales by product
Total sales revenue	9,868,669	8,785,052
Transportation and Logistics | Operating segments | National sales
Sales by product
Sales by product	9,868,669	8,785,052
Transportation and Logistics | Operating segments | National sales | Services
Sales by product
Sales by product	9,868,669	8,785,052
Concessions, electricity transport and roads | Operating segments
Sales by product
Total sales revenue	9,580,557	1,035,873
Concessions, electricity transport and roads | Operating segments | National sales
Sales by product
Sales by product	2,398,221	234,220
Concessions, electricity transport and roads | Operating segments | National sales | Services
Sales by product
Sales by product	208,024	55,251
Concessions, electricity transport and roads | Operating segments | National sales | Electric power transmission services
Sales by product
Sales by product	1,934,461	156,362
Concessions, electricity transport and roads | Operating segments | National sales | Roads and construction services
Sales by product
Sales by product	255,736	22,607
Concessions, electricity transport and roads | Operating segments | Foreign sales
Sales by product
Sales by product	7,182,336	801,653
Concessions, electricity transport and roads | Operating segments | Foreign sales | Electric power transmission services
Sales by product
Sales by product	3,750,829	505,048
Concessions, electricity transport and roads | Operating segments | Foreign sales | Other products
Sales by product
Sales by product	221,822	(21,876)
Concessions, electricity transport and roads | Operating segments | Foreign sales | Construction services [Member]
Sales by product
Sales by product	$ 3,209,685	$ 274,729

Relevant events (unaudited) (De

Relevant events (unaudited) (Details) $ in Millions			9 Months Ended
	Dec. 09, 2022 COP ($) Boe item km T $ / bbl	Aug. 08, 2022	Sep. 30, 2022
Bottom of range
Disclosure of non-adjusting events after reporting period [line items]
long-term capital gains tax rate for corporations		10%
long-term capital gains tax rate for individual tax residents		3%
Top of range
Disclosure of non-adjusting events after reporting period [line items]
long-term capital gains tax rate for corporations		15%
long-term capital gains tax rate for individual tax residents		10%
Crude Oil And Coal Price 1
Disclosure of non-adjusting events after reporting period [line items]
New crude oil, gold and coal export tax rate		0%
Crude Oil And Coal Price 2
Disclosure of non-adjusting events after reporting period [line items]
New crude oil, gold and coal export tax rate		5%
Crude Oil And Coal Price 3
Disclosure of non-adjusting events after reporting period [line items]
New crude oil, gold and coal export tax rate		10%
Crude Oil And Coal Price 4
Disclosure of non-adjusting events after reporting period [line items]
New crude oil, gold and coal export tax rate		15%
General Investment Plan 2023
Disclosure of non-adjusting events after reporting period [line items]
Percentage of plan aimed at cementing diversification into new low-emission businesses	23%
Expected reduction of CO2e emissions | T	400,000
Expected tons of green hydrogen to be incorporated | T	50,000
Number of new regional energy communities | item	2
Number new gas-connected homes | item	107,000
Amount allocated to electricity transmission business	$ 5,400,000
Kilometers of new transmission lines | km	6,000
Estimated transported volumes per day in barrels | Boe	1,000,000
Investments in decarbonization projects, integrated water management and improvement of fuel quality	$ 2,300,000
Social investment resources for regional development and community well-being	472,000,000
Amount allocated to science, technology and innovation projects	$ 405,000,000
Expected competitive returns in USD | $ / bbl	80
Percentage of ROACE	10%
Percentage of EBITDA margin	40%
Transfers to the nation	$ 40,000,000
General Investment Plan 2023 | Bottom of range
Disclosure of non-adjusting events after reporting period [line items]
Estimated amount of general organic investment	25.3
Investment in exploration and production projects	$ 3,600,000
Estimated production per day in barrels | Boe	720,000
Estimated refining load per day in barrels | Boe	420,000
General Investment Plan 2023 | Top of range
Disclosure of non-adjusting events after reporting period [line items]
Estimated amount of general organic investment	$ 29.8
Investment in exploration and production projects	$ 4,100,000
Estimated production per day in barrels | Boe	725,000
Estimated refining load per day in barrels | Boe	430,000
Ecopetrol Trading Asia PTE. LTD
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in subsidiaries			100%

Exhibit 1. Consolidated compa_3

Exhibit 1. Consolidated companies, associates, and joint ventures (Unaudited) - Consolidated subsidiary companies (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Disclosure of consolidated subsidiaries, associates and joint ventures
Net equity	$ 102,689,797	$ 91,078,480	$ 90,583,772	$ 53,499,363
Profit (loss)	27,530,825	$ 11,274,986
Total assets	279,376,442		242,426,616
Total liabilities	$ 176,686,645		$ 151,842,844
Refineria de Cartagena S.A.S.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Hydrocarbons refining, marketing and distribution
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 20,605,032
Profit (loss)	(421,262)
Total assets	39,779,436
Total liabilities	$ 19,174,404
Cenit Transporte y Logistica S.A.S.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	100%
Activity	Storage and transportation through hydrocarbon pipelines
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 15,163,439
Profit (loss)	3,382,807
Total assets	17,249,389
Total liabilities	$ 2,085,950
Ecopetrol Global Energy S.L.U.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Investment vehicle
Country/Domicile	Spain
Geographic area of operations	Spain
Net equity	$ 15,014,671
Profit (loss)	603,348
Total assets	15,014,712
Total liabilities	$ 41
Oleoducto Central S. A. - Ocensa
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	72.65%
Activity	Transportation through hydrocarbon pipelines
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 3,666,652
Profit (loss)	1,912,225
Total assets	7,877,072
Total liabilities	$ 4,210,420
Hocol Petroleum Limited.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Investment vehicle
Country/Domicile	Bermuda
Geographic area of operations	Bermuda
Net equity	$ 4,685,585
Profit (loss)	286,365
Total assets	4,680,301
Total liabilities	$ (5,284)
Ecopetrol America LLC.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Hydrocarbons exploration and exploitation
Country/Domicile	United States of America
Geographic area of operations	United States of America
Net equity	$ 2,592,569
Profit (loss)	19,295
Total assets	3,141,427
Total liabilities	$ 548,858
Hocol S.A.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Exploration, exploitation, and production of hydrocarbons
Country/Domicile	Cayman Islands
Geographic area of operations	Colombia
Net equity	$ 4,115,544
Profit (loss)	293,019
Total assets	5,774,738
Total liabilities	$ 1,659,194
Esenttia S.A.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Production and commercialization of polypropylene resin
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 2,720,871
Profit (loss)	184,905
Total assets	3,631,698
Total liabilities	$ 910,827
Ecopetrol Capital AG
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Collection of surpluses from, and providing funds to, companies of the Ecopetrol Business Group
Country/Domicile	Switzerland
Geographic area of operations	Switzerland
Net equity	$ 2,990,763
Profit (loss)	193,324
Total assets	10,725,300
Total liabilities	$ 7,734,537
Oleoducto Bicentenario de Colombia S.A.S.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	100%
Activity	Pipeline transportation of crude oil
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 1,290,918
Profit (loss)	159,653
Total assets	2,239,345
Total liabilities	$ 948,427
Oleoducto de Colombia S.A. - ODC
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	73%
Activity	Pipeline transportation of crude oil
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 359,650
Profit (loss)	299,535
Total assets	729,015
Total liabilities	$ 369,365
Black Gold Re Ltd.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Reaseguradora para compañías del Grupo Empresarial Ecopetrol
Country/Domicile	Bermuda
Geographic area of operations	Bermuda
Net equity	$ 1,156,174
Profit (loss)	18,212
Total assets	1,628,764
Total liabilities	$ 472,590
Andean Chemicals Ltd.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Investment vehicle
Country/Domicile	Bermuda
Geographic area of operations	Bermuda
Net equity	$ 1,931,217
Profit (loss)	90,881
Total assets	1,931,820
Total liabilities	$ 603
Oleoducto de los Llanos Orientales S.A
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	65%
Activity	Pipeline transportation of crude oil
Country/Domicile	Panama
Geographic area of operations	Colombia
Net equity	$ 657,625
Profit (loss)	349,191
Total assets	1,474,252
Total liabilities	$ 816,627
Interconexion Electrica S.A. E.S.P. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	51.41%
Activity	-Provision of the public electricitytransmission service- Development of infrastructureprojects and their commercialexploitation and- Software development, Informationtechnology and telecommunicationsactivities and services
Country/Domicile	Colombia
Geographic area of operations	Latin America
Net equity	$ 26,679,398
Profit (loss)	1,769,822
Total assets	71,831,521
Total liabilities	$ 45,152,123
Inversiones de Gases de Colombia S.A. Invercolsa S.A.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	51.88%
Activity	Holding with investments in transportation and distribution companies of natural gas and LPG in Colombia
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 534,939
Profit (loss)	201,657
Total assets	690,883
Total liabilities	$ 155,944
Alcanos de Colombia S.A. E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	29.61%
Activity	Provision of the home public service of fuel gas, the construction and operation of gas pipelines, distribution networks, regulation, measurement, and compression stations.
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 361,893
Profit (loss)	99,578
Total assets	778,549
Total liabilities	$ 416,656
Metrogas de Colombia S.A E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	33.49%
Activity	Provision of the public service of commercialization and distribution of fuel gas; the exploration, exploitation, storage, use, transportation, refining, purchase, sale and distribution of hydrocarbons and their derivatives.
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 62,426
Profit (loss)	11,701
Total assets	128,027
Total liabilities	$ 65,601
Gases del Oriente S.A. E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	48.50%
Activity	Provision of the home public service of fuel gas distribution and the development of all complementary activities to the provision of said service.
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 105,148
Profit (loss)	26,826
Total assets	208,678
Total liabilities	$ 103,530
Promotora de Gases del Sur S.A. E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	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
Net equity	$ 56,341
Profit (loss)	20,694
Total assets	87,347
Total liabilities	$ 31,006
Combustibles Lquidos de Colombia S.A E.S.P.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	41.61%
Activity	Wholesale commercialization of fuel gas, the provision of the home public LPG distribution service and the development of complementary activities to the provision of said service.
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 60,946
Profit (loss)	1,982
Total assets	86,965
Total liabilities	$ 26,019
Ecopetrol USA Inc.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Hydrocarbons exploration and exploitation
Country/Domicile	United States of America
Geographic area of operations	United States of America
Net equity	$ 12,942,797
Profit (loss)	951,305
Total assets	12,964,617
Total liabilities	$ 21,820
Ecopetrol Permian LLC.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Hydrocarbons exploration and exploitation
Country/Domicile	United States of America
Geographic area of operations	United States of America
Net equity	$ 8,186,502
Profit (loss)	935,866
Total assets	8,750,801
Total liabilities	$ 564,299
Ecopetrol Oleo e Gas do Brasil Ltda.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Real
Ownership Interest	100%
Activity	Hydrocarbons exploration and exploitation
Country/Domicile	Brazil
Geographic area of operations	Brazil
Net equity	$ 1,953,495
Profit (loss)	(335,789)
Total assets	1,981,669
Total liabilities	$ 28,174
Esenttia Masterbatch Ltda.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	100%
Activity	Manufacture of polypropylene compounds and masterbatches
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 390,328
Profit (loss)	234,728
Total assets	524,679
Total liabilities	$ 134,351
Ecopetrol del Peru S. A.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Hydrocarbons exploration and exploitation
Country/Domicile	Peru
Geographic area of operations	Peru
Net equity	$ 70,365
Profit (loss)	(75)
Total assets	71,994
Total liabilities	$ 1,629
ECP Hidrocarburos de Mxico S.A. de C.V.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Offshore exploration
Country/Domicile	Mexico
Geographic area of operations	Mexico
Net equity	$ 47,635
Profit (loss)	(11,296)
Total assets	54,563
Total liabilities	$ 6,928
Ecopetrol Costa Afuera S.A.S.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership Interest	100%
Activity	Offshore exploration
Country/Domicile	Colombia
Geographic area of operations	Colombia
Net equity	$ 12,973
Profit (loss)	(473)
Total assets	13,270
Total liabilities	$ 297
Esenttia Resinas del Per SAC
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership Interest	100%
Activity	Commercialization polypropylene resins and masterbatches
Country/Domicile	Peru
Geographic area of operations	Peru
Net equity	$ 15,971
Profit (loss)	1,475
Total assets	67,742
Total liabilities	$ 51,771
Topili Servicios Administrativos S de RL de CV.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Mexican pesos
Ownership Interest	100%
Activity	Specialized management services
Country/Domicile	Mexico
Geographic area of operations	Mexico
Net equity	$ 17
Profit (loss)	(32)
Total assets	22
Total liabilities	$ 5
Kalixpan Servicios Tecnicos S de RL de CV.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Mexican pesos
Ownership Interest	100%
Activity	Specialized services related to oil and gas industry
Country/Domicile	Mexico
Geographic area of operations	Mexico
Net equity	$ 27
Profit (loss)	(30)
Total assets	32
Total liabilities	$ 5
Ecopetrol Singapore PTE. LTD
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Singapore dollar
Ownership Interest	100%
Activity	Holding company with investment in an international trading company for crude oil and refined products
Country/Domicile	Singapore
Geographic area of operations	Asia
Net equity	$ 110,014
Profit (loss)	119,263
Total assets	110,135
Total liabilities	$ 121
Ecopetrol Trading Asia PTE. LTD
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Singapore dollar
Ownership Interest	100%
Activity	International marketing of crude oil and refined products
Country/Domicile	Singapore
Geographic area of operations	Asia
Net equity	$ 110,125
Profit (loss)	119,367
Total assets	2,845,291
Total liabilities	$ 2,735,166

Exhibit 1. Consolidated compa_4

Exhibit 1. Consolidated companies, associates, and joint ventures (Unaudited) - Consolidated subsidiary companies (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Disclosure of consolidated subsidiaries, associates and joint ventures
Net equity	$ 102,689,797	$ 91,078,480	$ 90,583,772	$ 53,499,363
Profit (loss) for the period	27,530,825	$ 11,274,986
Total assets	279,376,442		242,426,616
Total liabilities	$ 176,686,645		$ 151,842,844
Equion Energia Limited
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	U.S. Dollar
Ownership interest Ecopetrol, joint venture	51%
Activity, joint venture	Hydrocarbons exploration and exploitation
Country/Domicile, joint venture	United Kingdom
Geographic area of operations, joint venture	Colombia
Net equity	$ 1,470,547
Profit (loss) for the period	10,820
Total assets	1,551,795
Total liabilities	$ 81,248
Ecodiesel Colombia S.A.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership interest Ecopetrol, joint venture	50%
Activity, joint venture	Production, commercialization and distribution of biofuels and oleochemicals
Country/Domicile, joint venture	Colombia
Geographic area of operations, joint venture	Colombia
Net equity	$ 123,872
Profit (loss) for the period	45,918
Total assets	234,961
Total liabilities	$ 111,089
Serviport S.A. [Member]
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership interest Ecopetrol, associate	49%
Activity, associate	Services to support the loading and unloading of oil trucks, supply of equipment for the same purpose, technical inspections, and load measurements
Country/Domicile, associate	Colombia
Geographic area of operations, associate	Colombia
Net equity	$ 17,139
Profit (loss) for the period	(103)
Total assets	39,452
Total liabilities	$ 22,313
Sociedad Portuaria Olefinas y Derivados S.A.
Disclosure of consolidated subsidiaries, associates and joint ventures
Functional Currency	Colombian peso
Ownership interest Ecopetrol, associate	50%
Activity, associate	Construction, use, maintenance, adaptation and administration of port facilities, ports, private docks, or service to the public
Country/Domicile, associate	Colombia
Geographic area of operations, associate	Colombia
Net equity	$ 4,628
Profit (loss) for the period	589
Total assets	7,888
Total liabilities	$ 3,260

Exhibit 2. Consolidated compa_3

Exhibit 2. Consolidated companies, associates, and joint ventures - Interconexion Electrica S.A. ESP (Details) - COP ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Consolidated companies, associates, and joint ventures
Equity	$ 102,689,797	$ 91,078,480	$ 90,583,772	$ 53,499,363
Profit (loss)	27,530,825	$ 11,274,986
Assets	279,376,442		242,426,616
Liabilities	$ 176,686,645		$ 151,842,844
Interconexion Electrica S.A. E.S.P. [Member] | ATP Tower Holdings
Consolidated companies, associates, and joint ventures
Ownership Interest	24.70%
Activity, associate	Telecommunications transport
Country/Domicile, associate	United States of America
Equity	$ 1,856,906
Profit (loss)	(108,497)
Assets	4,166,273
Liabilities	$ 2,309,367
Interconexion Electrica S.A. E.S.P. [Member] | Interligacao Eletrica do Madeira [Member]
Consolidated companies, associates, and joint ventures
Ownership Interest	51%
Activity, joint venture	Energy transport
Country/Domicile, joint venture	Brazil
Equity	$ 3,254,901
Profit (loss)	295,254
Assets	6,055,398
Liabilities	$ 2,800,497
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Garanhuns
Consolidated companies, associates, and joint ventures
Ownership Interest	51%
Activity, joint venture	Energy transport
Country/Domicile, joint venture	Brazil
Equity	$ 854,101
Profit (loss)	139,573
Assets	1,224,720
Liabilities	$ 370,619
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Paraguau
Consolidated companies, associates, and joint ventures
Ownership Interest	50%
Activity, joint venture	Energy transport
Country/Domicile, joint venture	Brazil
Equity	$ 937,376
Profit (loss)	112,230
Assets	1,350,712
Liabilities	$ 413,336
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Aimors
Consolidated companies, associates, and joint ventures
Ownership Interest	50%
Activity, joint venture	Energy transport
Country/Domicile, joint venture	Brazil
Equity	$ 622,194
Profit (loss)	92,762
Assets	896,390
Liabilities	$ 274,196
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Iva
Consolidated companies, associates, and joint ventures
Ownership Interest	50%
Activity, joint venture	Energy transport
Country/Domicile, joint venture	Brazil
Equity	$ 699,677
Profit (loss)	73,148
Assets	3,324,360
Liabilities	$ 2,624,683
Interconexion Electrica S.A. E.S.P. [Member] | Transmissora Alianca de Energia Eletrica
Consolidated companies, associates, and joint ventures
Ownership Interest	14.88%
Activity, joint venture	Energy transport
Country/Domicile, joint venture	Brazil
Equity	$ 5,835,107
Profit (loss)	1,139,815
Assets	13,533,058
Liabilities	$ 7,697,951
Interconexion Electrica S.A. E.S.P. [Member] | Interconexin Elctrica Colombia Panam-Panam
Consolidated companies, associates, and joint ventures
Ownership Interest	50%
Activity, joint venture	Energy transport
Country/Domicile, joint venture	Panama
Equity	$ 32,317
Profit (loss)	(21,722)
Assets	33,280
Liabilities	$ 963
Interconexion Electrica S.A. E.S.P. [Member] | Interconexin Elctrica Colombia Panam Colombia
Consolidated companies, associates, and joint ventures
Ownership Interest	1.17%
Activity, joint venture	Energy transport
Country/Domicile, joint venture	Colombia
Equity	$ 267
Profit (loss)	(2)
Assets	268
Liabilities	$ 1
Interconexion Electrica S.A. E.S.P. [Member] | Transnexa
Consolidated companies, associates, and joint ventures
Ownership Interest	50%
Activity, joint venture	Telecommunications transport
Country/Domicile, joint venture	Ecuador
Interconexion Electrica S.A. E.S.P. [Member] | Derivex
Consolidated companies, associates, and joint ventures
Ownership Interest	40.35%
Activity, joint venture	Manage the negotiation system of operations on derivative financial instruments of electrical energy
Country/Domicile, joint venture	Colombia
Equity	$ 207
Profit (loss)	(666)
Assets	$ 207
Interconexion Electrica S.A. E.S.P. [Member] | Parques de Rio [Member]
Consolidated companies, associates, and joint ventures
Ownership Interest	33%
Activity, joint venture	Roads
Country/Domicile, joint venture	Colombia
Equity	$ 110
Profit (loss)	(23)
Assets	$ 110
Interconexion Electrica S.A. E.S.P. [Member] | Conexin Kimal Lo Aguirre S.A. [Member]
Consolidated companies, associates, and joint ventures
Ownership Interest	33.33%
Activity, joint venture	Energy transport
Country/Domicile, joint venture	Chile
Equity	$ 119,475
Assets	$ 119,475
Interconexion Electrica S.A. E.S.P. [Member] | Consorcio Transmantaro
Consolidated companies, associates, and joint ventures
Ownership Interest	60%
Activity	Electric power
Country/Domicile	Peru
Geographic area of operations	Peru
Equity	$ 2,047,606
Profit (loss)	210,796
Assets	8,476,483
Liabilities	$ 6,428,877
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Elctrica Evrecy
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 204,913
Profit (loss)	(42,116)
Assets	225,450
Liabilities	$ 20,537
Interconexion Electrica S.A. E.S.P. [Member] | Fundo De Investimento Assis
Consolidated companies, associates, and joint ventures
Ownership Interest	35.81%
Activity	Trust - Special Purpose Entity
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 121,919
Profit (loss)	4,269
Assets	$ 121,919
Interconexion Electrica S.A. E.S.P. [Member] | Fundo de Investimento Barra Bonita Renda Fixa Referenciado
Consolidated companies, associates, and joint ventures
Ownership Interest	35.77%
Activity	Trust - Special Purpose Entity
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 11,873
Profit (loss)	2,479
Assets	$ 11,873
Interconexion Electrica S.A. E.S.P. [Member] | Fundo de Investimento Referenciado di Bandeirantes
Consolidated companies, associates, and joint ventures
Ownership Interest	17.06%
Activity	Trust - Special Purpose Entity
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 341,888
Profit (loss)	16,468
Assets	$ 341,888
Interconexion Electrica S.A. E.S.P. [Member] | Fundo de Investimento Xavantes Referenciado di
Consolidated companies, associates, and joint ventures
Ownership Interest	15.40%
Activity	Trust - Special Purpose Entity
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 522,517
Profit (loss)	35,529
Assets	$ 522,517
Interconexion Electrica S.A. E.S.P. [Member] | Interconexiones Viales
Consolidated companies, associates, and joint ventures
Ownership Interest	65%
Activity	Roads
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 3,044
Profit (loss)	(2,650)
Assets	3,656
Liabilities	$ 612
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Aguape
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 543,971
Profit (loss)	68,226
Assets	605,626
Liabilities	$ 61,655
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Biguau
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 357,213
Profit (loss)	29,756
Assets	427,764
Liabilities	$ 70,551
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica De Minas Gerais
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 271,566
Profit (loss)	(33,417)
Assets	298,559
Liabilities	$ 26,993
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Itapura
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 175,044
Profit (loss)	20,631
Assets	188,340
Liabilities	$ 13,296
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Itaquer
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 464,935
Profit (loss)	44,866
Assets	545,366
Liabilities	$ 80,431
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Itanes
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 426,261
Profit (loss)	39,039
Assets	460,751
Liabilities	$ 34,490
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Norte E Nordeste
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 314,059
Profit (loss)	26,937
Assets	450,167
Liabilities	$ 136,108
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Pinheiros
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 550,509
Profit (loss)	57,631
Assets	615,028
Liabilities	$ 64,519
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Riacho Grande
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 76,184
Profit (loss)	(1,243)
Assets	84,574
Liabilities	$ 8,390
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Serra Do Japi
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 466,645
Profit (loss)	51,278
Assets	522,507
Liabilities	$ 55,862
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Sul
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 183,835
Profit (loss)	9,819
Assets	209,914
Liabilities	$ 26,079
Interconexion Electrica S.A. E.S.P. [Member] | Interligao Eltrica Tibagi
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 201,486
Profit (loss)	13,391
Assets	234,054
Liabilities	$ 32,568
Interconexion Electrica S.A. E.S.P. [Member] | Internexa
Consolidated companies, associates, and joint ventures
Ownership Interest	99.42%
Activity	Information and communications technologies
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 113,389
Profit (loss)	(9,866)
Assets	549,217
Liabilities	$ 435,828
Interconexion Electrica S.A. E.S.P. [Member] | Transamerican Telecomunication S.A.
Consolidated companies, associates, and joint ventures
Ownership Interest	99.42%
Activity	Information and communications technologies
Country/Domicile	Argentina
Geographic area of operations	Argentina
Equity	$ 20,908
Profit (loss)	(2,265)
Assets	43,213
Liabilities	$ 22,305
Interconexion Electrica S.A. E.S.P. [Member] | Internexa Brazil Operadora de Telecomunicaes
Consolidated companies, associates, and joint ventures
Ownership Interest	99.42%
Activity	Information and communications technologies
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 41,658
Profit (loss)	(22,433)
Assets	291,102
Liabilities	$ 249,444
Interconexion Electrica S.A. E.S.P. [Member] | Internexa Chile
Consolidated companies, associates, and joint ventures
Ownership Interest	98.43%
Activity	Information and communications technologies
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 23,835
Profit (loss)	1,889
Assets	78,272
Liabilities	$ 54,437
Interconexion Electrica S.A. E.S.P. [Member] | Internexa Participaes
Consolidated companies, associates, and joint ventures
Ownership Interest	99.42%
Activity	Investment vehicle
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 38,103
Profit (loss)	(21,083)
Assets	38,933
Liabilities	$ 830
Interconexion Electrica S.A. E.S.P. [Member] | Internexa Peru
Consolidated companies, associates, and joint ventures
Ownership Interest	99.42%
Activity	Information and communications technologies
Country/Domicile	Peru
Geographic area of operations	Peru
Equity	$ 75,418
Profit (loss)	4,033
Assets	394,048
Liabilities	$ 318,630
Interconexion Electrica S.A. E.S.P. [Member] | ISA Bolivia
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Electric power
Country/Domicile	Bolivia
Geographic area of operations	Bolivia
Equity	$ 129,343
Profit (loss)	7,877
Assets	138,416
Liabilities	$ 9,073
Interconexion Electrica S.A. E.S.P. [Member] | ISA Capital Do Brasil
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Investment vehicle
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 4,902,563
Profit (loss)	536,782
Assets	4,904,914
Liabilities	$ 2,351
Interconexion Electrica S.A. E.S.P. [Member] | ISA CTEEP
Consolidated companies, associates, and joint ventures
Ownership Interest	35.82%
Activity	Electric power
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 13,609,080
Profit (loss)	1,493,200
Assets	25,918,741
Liabilities	$ 12,309,661
Interconexion Electrica S.A. E.S.P. [Member] | ISA Interchile
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Electric power
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 1,400,049
Profit (loss)	(25,287)
Assets	6,961,298
Liabilities	$ 5,561,249
Interconexion Electrica S.A. E.S.P. [Member] | ISA Intercolombia
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Electric power
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 94,919
Profit (loss)	36,169
Assets	331,964
Liabilities	$ 237,045
Interconexion Electrica S.A. E.S.P. [Member] | ISA Intervial Chile
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Roads
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 3,294,754
Profit (loss)	240,366
Assets	4,099,171
Liabilities	$ 804,417
Interconexion Electrica S.A. E.S.P. [Member] | ISA Intervial Colombia
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Roads
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 579
Profit (loss)	13
Assets	$ 579
Interconexion Electrica S.A. E.S.P. [Member] | ISA Inversiones Chile
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Investment vehicle
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 4,007,871
Profit (loss)	245,561
Assets	4,011,877
Liabilities	$ 4,006
Interconexion Electrica S.A. E.S.P. [Member] | ISA Inversiones Costera Chile
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Investment vehicle
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ (53,317)
Profit (loss)	(57,162)
Assets	611,625
Liabilities	$ 664,942
Interconexion Electrica S.A. E.S.P. [Member] | ISA Inversiones Tolten
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Investment vehicle
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 40
Profit (loss)	(3)
Assets	$ 40
Interconexion Electrica S.A. E.S.P. [Member] | ISA Investimentos E Participaes
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Investment vehicle
Country/Domicile	Brazil
Geographic area of operations	Brazil
Equity	$ 1,089,564
Profit (loss)	154,558
Assets	1,089,591
Liabilities	$ 27
Interconexion Electrica S.A. E.S.P. [Member] | ISA Per
Consolidated companies, associates, and joint ventures
Ownership Interest	99.99%
Activity	Electric power
Country/Domicile	Peru
Geographic area of operations	Peru
Equity	$ 223,977
Profit (loss)	20,603
Assets	1,107,192
Liabilities	$ 883,215
Interconexion Electrica S.A. E.S.P. [Member] | ISA REP
Consolidated companies, associates, and joint ventures
Ownership Interest	60%
Activity	Electric power
Country/Domicile	Peru
Geographic area of operations	Peru
Equity	$ 638,585
Profit (loss)	196,436
Assets	2,173,961
Liabilities	$ 1,535,376
Interconexion Electrica S.A. E.S.P. [Member] | ISA Transelca
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Electric power
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 956,311
Profit (loss)	166,923
Assets	1,755,872
Liabilities	$ 799,561
Interconexion Electrica S.A. E.S.P. [Member] | Linear Systems RE
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Other businesses
Country/Domicile	Bermudas
Geographic area of operations	Bermudas
Equity	$ 33,188
Profit (loss)	3,523
Assets	98,499
Liabilities	$ 65,311
Interconexion Electrica S.A. E.S.P. [Member] | Proyectos De Infraestructura Del Per
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Electric power
Country/Domicile	Peru
Geographic area of operations	Peru
Equity	$ 17,147
Profit (loss)	4,629
Assets	137,825
Liabilities	$ 120,678
Interconexion Electrica S.A. E.S.P. [Member] | Ruta Costera
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Roads
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 176,642
Profit (loss)	(12,644)
Assets	2,580,975
Liabilities	$ 2,404,333
Interconexion Electrica S.A. E.S.P. [Member] | Ruta De La Araucana
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Roads
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 337,645
Profit (loss)	48,713
Assets	653,193
Liabilities	$ 315,548
Interconexion Electrica S.A. E.S.P. [Member] | Ruta De Los Ros
Consolidated companies, associates, and joint ventures
Ownership Interest	75%
Activity	Roads
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 97,779
Profit (loss)	28,959
Assets	237,528
Liabilities	$ 139,749
Interconexion Electrica S.A. E.S.P. [Member] | Ruta Del Bosque
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Roads
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 92,730
Profit (loss)	(19,445)
Assets	118,570
Liabilities	$ 25,840
Interconexion Electrica S.A. E.S.P. [Member] | Ruta Del Loa
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Roads
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 254,451
Profit (loss)	31,019
Assets	825,723
Liabilities	$ 571,272
Interconexion Electrica S.A. E.S.P. [Member] | Ruta del Maipo
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Roads
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 2,241,823
Profit (loss)	209,465
Assets	7,222,823
Liabilities	$ 4,981,000
Interconexion Electrica S.A. E.S.P. [Member] | Ruta Del Maule
Consolidated companies, associates, and joint ventures
Ownership Interest	100%
Activity	Roads
Country/Domicile	Chile
Geographic area of operations	Chile
Equity	$ 4,863
Profit (loss)	(4,657)
Assets	13,414
Liabilities	$ 8,551
Interconexion Electrica S.A. E.S.P. [Member] | Sistemas Inteligentes en Red
Consolidated companies, associates, and joint ventures
Ownership Interest	99.77%
Activity	Other businesses
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 8,960
Profit (loss)	1,356
Assets	17,765
Liabilities	$ 8,805
Interconexion Electrica S.A. E.S.P. [Member] | XM
Consolidated companies, associates, and joint ventures
Ownership Interest	99.73%
Activity	Electric power
Country/Domicile	Colombia
Geographic area of operations	Colombia
Equity	$ 37,818
Profit (loss)	8,836
Assets	280,987
Liabilities	$ 243,169