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Information by segments (Tables)

12 Months Ended

Dec. 31, 2023

Information by segments

Schedule of operating segments


		For the year ended on December 31, 2023
								Electric
								power
								transmission
		Exploration				Transport		and toll
		and		Refining and		and		roads
		Production		Petrochemicals		Logistics		concessions		Eliminations		Total
Third–party sales		52,429,502		73,616,641		2,978,937		14,164,522		—		143,189,602
Inter–segment sales		29,085,413		8,531,285		12,530,795		3,744		(50,151,237)		—
Revenue from contracts with customers		81,514,915		82,147,926		15,509,732		14,168,266		(50,151,237)		143,189,602
Variable cost		(37,643,759)		(71,009,974)		(885,109)		—		45,506,500		(64,032,342)
Fixed cost		(14,184,125)		(4,706,479)		(3,495,086)		(5,928,905)		4,168,739		(24,145,856)
Cost of sales		(51,827,884)		(75,716,453)		(4,380,195)		(5,928,905)		49,675,239		(88,178,198)
Gross profit		29,687,031		6,431,473		11,129,537		8,239,361		(475,998)		55,011,404

Administrative expenses		(2,605,190)		(962,063)		(621,341)		(1,182,380)		345,177		(5,025,797)
Operation and project expenses		(4,102,410)		(1,392,588)		(426,821)		—		219,657		(5,702,162)
Impairment (loss) reversal of non–current assets		(2,741,092)		1,482,444		(630,134)		(209,551)		—		(2,098,333)
Other operating (expenses) income net		(148,314)		(103,563)		34,835		(201,141)		(7,948)		(426,131)
Operating income		20,090,025		5,455,703		9,486,076		6,646,289		80,888		41,758,981
Financial result net
Financial income		1,473,523		197,186		431,593		870,897		(652,230)		2,320,969
Financial expenses		(4,872,501)		(1,748,454)		(349,340)		(3,984,198)		570,428		(10,384,065)
Foreign exchange gain (loss) net		2,009,356		657,678		(272,900)		3,578		—		2,397,712
		(1,389,622)		(893,590)		(190,647)		(3,109,723)		(81,802)		(5,665,384)
Share of profits of associates and joint ventures		26,927		251,769		—		529,536		(2,883)		805,349
Income before tax		18,727,330		4,813,882		9,295,429		4,066,102		(3,797)		36,898,946
Income tax		(8,610,599)		753,038		(3,129,197)		(529,117)		—		(11,515,875)
Net profit (loss) for the period		10,116,731		5,566,920		6,166,232		3,536,985		(3,797)		25,383,071
Profit (loss) attributable to:
Group owners of parent		10,208,130		5,352,446		4,829,051		674,968		(3,797)		21,060,798
Non–controlling interest		(91,399)		214,474		1,337,181		2,862,017		—		4,322,273
		10,116,731		5,566,920		6,166,232		3,536,985		(3,797)		25,383,071
Supplementary information
Depreciation, depletion and amortization		8,657,782		2,184,053		1,487,501		1,483,051		—		13,812,387


		For the year ended on December 31, 2022
								Electric
								power
								transmission
								and toll
		Exploration		Refining and		Transport and		roads
		and Production		Petrochemicals		Logistics		concessions		Eliminations		Total
Third–party sales		60,719,903		82,728,875		2,807,031		13,355,269		—		159,611,078
Inter–segment sales		30,300,562		6,450,072		11,148,961		2,237		(47,901,832)		—
Revenue from contracts with customers		91,020,465		89,178,947		13,955,992		13,357,506		(47,901,832)		159,611,078
Variable cost		(34,649,988)		(76,341,169)		(720,247)		—		43,531,185		(68,180,219)
Fixed cost		(12,099,432)		(3,990,829)		(3,172,963)		(5,854,832)		3,840,127		(21,277,929)
Cost of sales		(46,749,420)		(80,331,998)		(3,893,210)		(5,854,832)		47,371,312		(89,458,148)
Gross profit		44,271,045		8,846,949		10,062,782		7,502,674		(530,520)		70,152,930

Administrative expenses		(2,489,557)		(823,349)		(499,801)		(965,314)		442,326		(4,335,695)
Operation and project expenses		(3,221,678)		(1,387,064)		(327,952)		—		193,066		(4,743,628)
Impairment loss (reversal) of non–current assets		(890,248)		1,096,021		(406,229)		(87,543)		—		(287,999)
Other operating expenses net		(310,628)		(37,959)		(96,239)		(104,664)		(6,365)		(555,855)
Operating income		37,358,934		7,694,598		8,732,561		6,345,153		98,507		60,229,753
Financial result net
Financial income		1,011,182		89,173		157,264		577,743		(518,217)		1,317,145
Financial expenses		(2,894,636)		(1,381,682)		(287,889)		(3,883,596)		420,551		(8,027,252)
Foreign exchange gain (loss) net		(44,302)		(289,105)		10,080		198,677		—		(124,650)
		(1,927,756)		(1,581,614)		(120,545)		(3,107,176)		(97,666)		(6,834,757)
Share of profits of associates and joint ventures		30,197		222,460		—		515,746		19		768,422
Income before tax		35,461,375		6,335,444		8,612,016		3,753,723		860		54,163,418
Income tax		(13,829,885)		(1,464,380)		(2,962,021)		(707,652)		—		(18,963,938)
Net profit (loss) for the period		21,631,490		4,871,064		5,649,995		3,046,071		860		35,199,480
Profit (loss) attributable to:
Group owners of parent		21,761,164		4,686,009		4,483,060		673,688		860		31,604,781
Non–controlling interest		(129,674)		185,055		1,166,935		2,372,383		—		3,594,699
		21,631,490		4,871,064		5,649,995		3,046,071		860		35,199,480
Supplementary information
Depreciation depletion and amortization		7,304,525		1,960,399		1,448,626		1,415,441		—		12,128,991


		For the year ended on December 31, 2021
								Electric
								power
								transmission
								and toll
		Exploration and		Refining and		Transport		roads
		Production		Petrochemicals		and Logistics		concessions		Eliminations		Total
Third–party sales		38,552,572		46,658,196		2,557,238		4,113,198		—		91,881,204
Inter–segment sales		24,696,380		4,318,189		9,601,228		—		(38,615,797)		—
Revenue from contracts with customers		63,248,952		50,976,385		12,158,466		4,113,198		(38,615,797)		91,881,204
Variable cost		(30,473,145)		(44,860,928)		(531,361)		—		34,859,524		(41,005,910)
Fixed cost		(9,861,987)		(3,674,460)		(2,728,948)		(1,817,491)		3,507,020		(14,575,866)
Cost of sales		(40,335,132)		(48,535,388)		(3,260,309)		(1,817,491)		38,366,544		(55,581,776)
Gross profit		22,913,820		2,440,997		8,898,157		2,295,707		(249,253)		36,299,428

Administrative expenses		(1,987,817)		(784,214)		(457,217)		(322,939)		210,118		(3,342,069)
Operation and project expenses		(1,882,686)		(944,616)		(404,264)		(460)		78,469		(3,153,557)
Impairment reversal (loss) of non–current assets		438,020		(305,466)		(165,901)		(4)		—		(33,351)
Other operating (expenses) income net		(617,893)		10,749		591,829		(51,267)		(6,162)		(72,744)
Operating income (expenses)		18,863,444		417,450		8,462,604		1,921,037		33,172		29,697,707
Financial result net
Financial income		517,629		24,313		76,453		89,267		(304,070)		403,592
Financial expenses		(2,410,906)		(1,151,255)		(250,816)		(886,420)		267,749		(4,431,648)
Foreign exchange gain (loss) net		(219,747)		(132,734)		381,964		300,519		—		330,002
		(2,113,024)		(1,259,676)		207,601		(496,634)		(36,321)		(3,698,054)
Share of profits of associates and joint ventures		9,610		200,998		858		214,698		—		426,164
Income before tax		16,760,030		(641,228)		8,671,063		1,639,101		(3,149)		26,425,817
Income tax		(5,019,540)		(383,562)		(2,925,390)		(466,771)		—		(8,795,263)
Net profit (loss) for the period		11,740,490		(1,024,790)		5,745,673		1,172,330		(3,149)		17,630,554
Profit (loss) attributable to:
Group owners of parent		11,829,119		(1,198,619)		4,635,354		386,438		(3,149)		15,649,143
Non–controlling interest		(88,629)		173,829		1,110,319		785,892		—		1,981,411
		11,740,490		(1,024,790)		5,745,673		1,172,330		(3,149)		17,630,554
Supplementary information
Depreciation depletion and amortization		6,844,910		1,640,940		1,211,642		462,430		—		10,159,922

Schedule of products and services


		For the year ended on December 31, 2023
								Electric power
								transmission
								and toll
		Exploration and		Refining and		Transport and		roads
		Production		Petrochemicals		Logistics		concessions		Eliminations		Total
Local sales
Mid–distillates		—		32,638,191		—		—		(32,349)		32,605,842
Gasoline and turbo fuels		—		26,965,667		—		—		(3,836,642)		23,129,025
Natural gas		5,551,389		—		—		—		(1,193,123)		4,358,266
Services		(53,379)		1,441,770		15,509,732		335,812		(14,001,151)		3,232,784
Electric power transmission services		—		—		—		2,769,897		—		2,769,897
Plastic and rubber		—		1,225,223		—		—		—		1,225,223
Fuel gas service		—		998,367		—		—		(9,283)		989,084
Asphalts		65,574		872,611		—		—		—		938,185
LPG and propane		505,066		274,022		—		—		(16,739)		762,349
Roads and construction services		—		—		—		349,834		—		349,834
Polyethylene		—		313,535		—		—		649		314,184
Aromatics		—		297,957		—		—		—		297,957
Crude oil		27,870,500		(741)		—		—		(27,741,343)		128,416
Fuel oil		26,564		9,734		—		—		—		36,298
Other income gas contracts		30		—		—		—		—		30
Other products		15,861		3,691,674		—		—		(3,099,827)		607,708
		33,981,605		68,728,010		15,509,732		3,455,543		(49,929,808)		71,745,082

Foreign sales
Crude oil		47,631,662		1,928,202		—		—		—		49,559,864
Electric power transmission services		—		—		—		5,666,389		—		5,666,389
Roads and Construction Services		—		—		—		4,761,317		—		4,761,317
Diesel		—		4,097,117		—		—		—		4,097,117
Fuel oil		(82,348)		4,315,286		—		—		(204,030)		4,028,908
Plastic and rubber		—		1,393,669		—		—		—		1,393,669
LPG and propane		302,159		—		—		—		—		302,159
Gasoline and turbo fuels		—		193,394		—		—		—		193,394
Natural gas		105,413		—		—		—		—		105,413
Cash flow hedging		(460,445)		(7,962)		—		—		—		(468,407)
Other products		36,869		1,500,210		—		285,017		(17,399)		1,804,697
		47,533,310		13,419,916		—		10,712,723		(221,429)		71,444,520
		81,514,915		82,147,926		15,509,732		14,168,266		(50,151,237)		143,189,602


		For the year ended on December 31, 2022
								Electric power
								transmission
								and toll
		Exploration and		Refining and		Transport and		roads
		Production		Petrochemicals		Logistics		concessions		Eliminations		Total
Local sales
Mid-distillates		—		39,217,618		—		—		(35,108)		39,182,510
Gasoline and turbo fuels		—		32,022,556		—		—		(4,402,357)		27,620,199
Natural gas		5,250,577		—		—		—		(1,087,701)		4,162,876
Services		450,322		746,500		13,955,992		296,216		(11,847,349)		3,601,681
Electric power transmission services		—		—		—		2,595,505		—		2,595,505
Plastic and rubber		—		1,568,816		—		—		—		1,568,816
LPG and propane		739,323		385,178		—		—		(30,169)		1,094,332
Asphalts		47,224		849,976		—		—		—		897,200
Fuel gas service		—		869,101		—		—		(8,999)		860,102
Crude oil		28,725,485		491,440		—		—		(28,841,135)		375,790
Roads and Construction services		—		—		—		355,737		—		355,737
Aromatics		—		343,792		—		—		—		343,792
Polyethylene		—		302,630		—		—		—		302,630
Fuel oil		2,663		6,550		—		—		—		9,213
Other income gas contracts		1,940		—		—		—		—		1,940
Other products		20,204		2,164,882		—		—		(1,505,903)		679,183
		35,237,738		78,969,039		13,955,992		3,247,458		(47,758,721)		83,651,506

Foreign sales
Crude oil		56,701,497		92,147		—		—		(141,891)		56,651,753
Electric power transmission services		—		—		—		5,114,783		—		5,114,783
Roads and Construction Services		—		—		—		4,676,822		—		4,676,822
Fuel oil		—		4,348,312		—		—		—		4,348,312
Diesel		—		2,324,861		—		—		—		2,324,861
Plastic and rubber		—		2,036,201		—		—		—		2,036,201
LPG and propane		339,837		—		—		—		—		339,837
Natural gas		254,054		—		—		—		—		254,054
Gasoline and turbo fuels		—		157,685		—		—		—		157,685
Other products		35,113		1,281,174		—		318,443		(1,220)		1,633,510
Cash flow hedging		(1,547,774)		(30,472)		—		—		—		(1,578,246)
		55,782,727		10,209,908		—		10,110,048		(143,111)		75,959,572
		91,020,465		89,178,947		13,955,992		13,357,506		(47,901,832)		159,611,078


		For the year ended on December 31, 2021
								Electric power
								transmission
								and toll
		Exploration and		Refining and		Transport		roads
		Production		Petrochemicals		and Logistics		concessions		Eliminations		Total
Local sales
Mid–distillates		—		17,166,812		—		—		(26,485)		17,140,327
Gasoline and turbo fuels		—		17,931,469		—		—		(2,456,099)		15,475,370
Natural gas		4,077,691		—		—		—		(877,622)		3,200,069
Services		132,060		659,088		12,158,466		120,795		(10,004,421)		3,065,988
Plastic and rubber		—		1,642,035		—		—		—		1,642,035
LPG and propane		618,218		332,542		—		—		(24,529)		926,231
Fuel gas service		—		742,212		—		—		(7,546)		734,666
Electric power transmission services		—		—		—		728,467		—		728,467
Asphalts		25,178		585,873		—		—		—		611,051
Polyethylene		—		320,466		—		—		—		320,466
Aromatics		—		247,387		—		—		—		247,387
Crude oil		23,619,491		—		—		—		(23,426,015)		193,476
Roads and Construction Services		—		—		—		107,179		—		107,179
Fuel oil		10,838		12,961		—		—		—		23,799
Other income gas contracts		2,879		—		—		—		—		2,879
Other products		35,213		2,160,653		—		—		(1,793,038)		402,828
Cash flow hedges		—		(8)		—		—		—		(8)
		28,521,568		41,801,490		12,158,466		956,441		(38,615,755)		44,822,210
Foreign sales
Crude oil		34,868,421		—		—		—		—		34,868,421
Diesel		—		3,867,937		—		—		—		3,867,937
Fuel oil		—		2,288,977		—		—		—		2,288,977
Plastic and rubber		—		2,092,379		—		—		—		2,092,379
Electric power transmission services		—		—		—		1,827,622		—		1,827,622
Roads and Construction Services		—		—		—		1,241,144		—		1,241,144
LPG and propane		116,960		—		—		—		—		116,960
Natural gas		71,529		—		—		—		—		71,529
Other products		20,365		925,595		—		87,991		(42)		1,033,909
Cash flow hedges		(349,891)		7		—		—		—		(349,884)
		34,727,384		9,174,895		—		3,156,757		(42)		47,058,994
		63,248,952		50,976,385		12,158,466		4,113,198		(38,615,797)		91,881,204

Schedule of detailed information about investment property segment wise


								Electric
								power
								transmission
		Exploration		Refining and		Transport and		and toll roads
2023		and Production		Petrochemicals		Logistics		concessions		Total
Property, plant, and equipment (Note 13)		4,258,469		738,161		2,702,091		1,651,164		9,349,885
Natural and environmental resources (Note 14)		13,964,435		—		—		—		13,964,435
Intangibles (Note 16)		59,870		84,268		622,559		9,899		776,596
		18,282,774		822,429		3,324,650		1,661,063		24,090,916


								Electric
								power
								transmission
		Exploration		Refining and		Transport and		and toll roads
2022		and Production		Petrochemicals		Logistics		concessions		Total
Property, plant, and equipment (Note 13)		4,461,244		928,843		2,424,428		953,201		8,767,716
Natural and environmental resources (Note 14)		11,962,544		—		—		—		11,962,544
Intangibles (Note 16)		145,532		32,832		89,463		879,683		1,147,510
		16,569,320		961,675		2,513,891		1,832,884		21,877,770


								Electric
								power
								transmission
		Exploration		Refining and		Transport and		and toll roads
2021		and Production		Petrochemicals		Logistics		concessions		Total
Property, plant, and equipment (Note 13)		2,633,119		1,845,618		1,344,654		294,197		6,117,588
Natural and environmental resources (Note 14)		6,733,028		—		—		—		6,733,028
Intangibles (Note 16)		106,490		22,685		47,236		267,935		444,346
		9,472,637		1,868,303		1,391,890		562,132		13,294,962