哥伦比亚国家石油 2025年年度报告和过渡报告

Securities registered or to be registered pursuant to Section12(g)of the Act:None Table of Contents Securities for which there is a reporting obligation pursuant to Section15(d)of the Act:None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of theperiod covered by the annual report. 41,116,694,690Ecopetrol common shares, par value COP609 per share Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. ⌧Yes◻No If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant toSection13 or 15(d)of the Securities Exchange Act of 1934. ◻Yes⌧No Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required tofile such reports), and (2)has been subject to such filing requirements for the past 90days. ⌧Yes◻No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for suchshorter period that the registrant was required to submit such files). ⌧Yes◻No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or anemerging growth company. See definition of “large accelerated filer,” “accelerated filer,” and “emerging growth company” inRule12b-2 of the Exchange Act. If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check markif the registrant has elected not to use the extended transition period for complying with any new or revised financialaccounting standards† provided pursuant to Section13(a)of the Exchange Act.◻ † The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting StandardsBoard to its Accounting Standards Codification after April5, 2012. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentivebased compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to§240.10D-1(b).☐ Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in thisfiling: If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item theregistrant has elected to follow: ◻Item17◻Item18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of theExchange Act). ☐Yes⌧No Table of Contents Page1.Introduction11.1About This Annual Report11.2Forward-looking Statements21.3Selected Operating Data32.Strategy and Market Overview32.1Our Corporate Strategy42.1.12040 Strategy: Energy That Transforms42.1.1.1Grow with the Energy Transition52.1.1.2Generate Value through TESG62.1.1.3Cutting-edge Knowledge62.1.1.4Competitive Returns72.1.22025 Investment Plan73.Business Overview83.1Our History83.2Our Corporate Structure93.3Recent Developments113.4Our Business123.5Exploration and Production123.5.1Exploration Activities133.5.1.1Exploration Activities in Colombia143.5.1.2Exploration Activities Outside Colombia163.5.2Production Activities173.5.2.1Production Activities in Colombia183.5.2.1.1Ecopetrol S.A.’s Production Activities in Colombia183.5.2.1.2Ecopetrol S.A.’s Affiliates and Subsidiaries’ Production Activities inColombia253.5.2.2Production Activities Outside Colombia283.5.2.3Unconventional Hydrocarbons303.5.2.4Marketing of Crude Oil and Natural Gas313.5.3Reserves333.5.4Joint Venture and Other Contractual Arrangements423.6Transportation and Logistics453.6.1Transportation Activities453.6.1.1Pipelines483.6.1.2Export and Import Facilities523.6.2Other Transportation Facilities523.6.3Marketing of Transportation Services533.7Refining and Petrochemicals533.7.1Refiningand Petrochemicals533.7.1.1Barrancabermeja Refinery543.7.1.2Cartagena Refinery553.7.1.3Esenttia S.A.563.7.1.4Invercolsa563.7.1.5Biofuels563.7.2Marketing and Supply of Refined Products563.8Elec