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Information by segments (Tables)

12 Months Ended

Dec. 31, 2024

Information by segments

Schedule of operating segments


		For the year ended on December 31, 2024
								Electric
								power
								transmission
		Exploration				Transport		and toll
		and		Refining and		and		roads
		Production		Petrochemicals		Logistics		concessions		Eliminations		Total
Third–party sales		52,559,851		62,251,340		2,716,164		15,803,073		—		133,330,428
Inter–segment sales		28,527,672		6,968,866		12,417,557		2,574		(47,916,669)		—
Revenue from contracts with customers		81,087,523		69,220,206		15,133,721		15,805,647		(47,916,669)		133,330,428
Variable cost		(40,326,798)		(62,841,448)		(848,032)		—		43,691,748		(60,324,530)
Fixed cost		(14,536,250)		(4,876,309)		(3,529,865)		(6,952,104)		3,737,904		(26,156,624)
Cost of sales		(54,863,048)		(67,717,757)		(4,377,897)		(6,952,104)		47,429,652		(86,481,154)
Gross profit		26,224,475		1,502,449		10,755,824		8,853,543		(487,017)		46,849,274

Administrative expenses		(2,665,275)		(959,147)		(717,926)		(1,150,596)		389,841		(5,103,103)
Operation and project expenses		(3,843,280)		(1,457,106)		(552,785)		—		205,520		(5,647,651)
Impairment (loss) reversal of non–current assets		(480,180)		1,265,753		127,206		(45,351)		—		867,428
Other operating (expenses) income net		1,583,005		21,847		(17,557)		(2,025)		(88,221)		1,497,049
Operating income		20,818,745		373,796		9,594,762		7,655,571		20,123		38,462,997
Financial result net
Financial income		1,121,377		166,900		239,915		721,086		(501,477)		1,747,801
Financial expenses		(5,037,086)		(1,678,692)		(325,557)		(3,766,580)		488,599		(10,319,316)
Foreign exchange (loss) gain net		(30,253)		(177,464)		298,935		(39,651)		—		51,567
		(3,945,962)		(1,689,256)		213,293		(3,085,145)		(12,878)		(8,519,948)
Share of profits of associates and joint ventures		29,766		194,498		—		540,102		—		764,366
Income before tax		16,902,549		(1,120,962)		9,808,055		5,110,528		7,245		30,707,415
Income tax		(7,826,203)		(88,916)		(3,485,808)		(807,613)		—		(12,208,540)
Net profit (loss) for the period		9,076,346		(1,209,878)		6,322,247		4,302,915		7,245		18,498,875
Profit (loss) attributable to:
Group owners of parent		9,162,709		(1,407,810)		5,112,271		966,738		7,245		13,841,153
Non–controlling interest		(86,363)		197,932		1,209,976		3,336,177		—		4,657,722
		9,076,346		(1,209,878)		6,322,247		4,302,915		7,245		18,498,875
Supplementary information
Depreciation, depletion and amortization		10,478,049		2,070,605		1,320,920		1,327,709		—		15,197,283


		For the year ended on December 31, 2023
								Electric
								power
								transmission
								and toll
		Exploration		Refining and		Transport and		roads
		and 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 and		Refining and		Transport		roads
		Production		Petrochemicals		and 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

Schedule of products and services


		For the year ended on December 31, 2024
								Electric power
								transmission
								and toll
		Exploration and		Refining and		Transport and		roads
		Production		Petrochemicals		Logistics		concessions		Eliminations		Total
Local sales
Mid-distillates		—		28,687,217		—		—		(14,919)		28,672,298
Gasoline and turbo fuels		—		21,936,821		—		—		(4,132,449)		17,804,372
Roads and construction services		—		—		—		330,053		—		330,053
Gas natural		5,252,959		—		—		—		(1,156,833)		4,096,126
Services		520,053		536,096		15,133,721		444,901		(12,757,641)		3,877,130
Fuel gas service		—		1,093,363		—		—		(10,653)		1,082,710
LPG and propane		396,262		250,568		—		—		(16,260)		630,570
Asphalts		88,263		705,848		—		—		—		794,111
Plastic and rubber		—		919,788		—		—		—		919,788
Crude oil		27,190,210		—		—		—		(27,189,908)		302
Electric power transmission services		—		—		—		3,226,557		—		3,226,557
Polyethylene		—		327,405		—		—		1,244		328,649
Aromatics		—		246,612		—		—		—		246,612
Fuel oil		18,425		2,102		—		—		—		20,527
Other products		11,872		3,239,581		—		—		(2,625,385)		626,068
		33,478,044		57,945,401		15,133,721		4,001,511		(47,902,804)		62,655,873

Foreign sales
Crude oil		47,533,707		1,281,956		—		—		(9,991)		48,805,672
Electric power transmission services		—		—		—		6,134,698		—		6,134,698
Roads and Construction Services		—		—		—		5,465,389		—		5,465,389
Diesel		—		360,438		—		—		—		360,438
Fuel oil		—		1,203,562		—		—		—		1,203,562
Plastic and rubber		—		1,230,748		—		—		—		1,230,748
LPG and propane		346,908		—		—		—		—		346,908
Gasoline and turbo fuels		43,539		—		—		—		—		43,539
Natural gas		—		3,924,217		—		—		(3,717)		3,920,500
Cash flow hedging		(345,499)		—		—		—		—		(345,499)
Other products		30,824		3,273,884		—		204,049		(157)		3,508,600
		47,609,479		11,274,805		—		11,804,136		(13,865)		70,674,555
		81,087,523		69,220,206		15,133,721		15,805,647		(47,916,669)		133,330,428


		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		roads
		Production		Petrochemicals		and 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

Schedule of detailed information about investment property segment wise


								Electric
								power
								transmission
		Exploration		Refining and		Transport and		and toll roads
2024		and Production		Petrochemicals		Logistics		concessions		Total
Property, plant, and equipment		6,418,046		1,699,152		1,535,388		1,107,927		10,760,513
Natural and environmental resources		11,291,059		—		—		—		11,291,059
Intangibles		337,347		48,345		9,794		470,222		865,708
		18,046,452		1,747,497		1,545,182		1,578,149		22,917,280


								Electric
								power
								transmission
		Exploration		Refining and		Transport and		and toll roads
2023		and Production		Petrochemicals		Logistics		concessions		Total
Property, plant, and equipment		4,258,469		738,161		2,702,091		1,651,164		9,349,885
Natural and environmental resources		13,964,435		—		—		—		13,964,435
Intangibles		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		4,461,244		928,843		2,424,428		953,201		8,767,716
Natural and environmental resources		11,962,544		—		—		—		11,962,544
Intangibles		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