The following EITI report covers the year 2018 for Colombia's extractive sector.
In 2016, according to the EITI Report, Colombia received USD 3.1 billion in revenues from the extractive industry. The report shows that fiscal contibution from the industry has declined from USD 11.1 billion in 2013 and USD 9.3 billion in 2014 to USD 4.6 billion in 2015. The report also shows that the sector attracted foreign direct investment for USD 3.5 billion mostly on oil and gas. This also in contrast with previous years when the extractive sector attracted USD 7.8 billion representing more than half of total foreign investment in the peak year of 2012.
Extractive sector represented 6.4% of GDP. In 2013, this contribution was 7.7%. The sector contributed with 5% of national fiscal income in 2016, a sharp decline from 2013 when the sector represented 19% of national income.
Dividends from the state-owned company Ecopetrol fell from USD 4.3 billion in 2013 to USD 226 million in 2016.
From 2016, EITI-Colombia has included social payments (mandated and voluntary) for the extractive sector.
Read more here:
The 2016 Report brought innovative coverage on environmental information. The enviromental licensing regime is explained here. The country also disclosed detailed information on environmental payments:
Colombian extractive industry is regulated by several norms including:
- The Constitution of the Republic of 1991,
- The Hydrocarbons Code,
- The Mining Code,
- Other regulations, including the National Mining Policy and Ministry of Mines's norms.
Learn more about legal framework in Colombia here.
Colombia has a state-owned enterprise Ecopetrol. The company is owned 88.49% by the state and the rest of capital is listed in Bogota, New York and Toronto stock exchanges. EITI-Colombia describes Ecopetrol governance structure and the composition the Ecopetrol's shareholding constitution.
Ecopetrol's 2016 main operational results are available here.
EITI-Colombia includes innovative approaches on several areas:
- The first report available online was the 2016 EITI Report EITI Colombia has then published reports online for 2017 and 2018.
- Colombia also uses an online platform to collect data directly from companies and government agencies.
- It also includes a tool for searching geo-reference data for regions and municipalities on a number of issues including mining titles, licenses, production and royalties.
- As ilustrated in the overview, Colombia's reports brought innovative information on social and economic issues.
- EITI Colombia offers an online training programme which explains in 5 modules the country's extractive industry and how citizens can participate in accountability processes.
- Civil society is engaged in implementation not only through the multi-stakeholder group, but also through the Mesa de la Sociedad Civil para las Industrias Extractivas, a wider network dedicated to transparency in the sector.
Colombia has published five EITI Report covering fiscal years 2013 to 2018. The latest report was published in December 2018. The reports covers corporate tax, royalties, Ecopetrol’s dividends and other taxes.
The Ministry of Mines and Energy hosts the EITI national secretariat. Deputy-Minister of Mining, Carlos Andrés Cante is the EITI Champion and Gloria Patricia Gamba performs as the National Coordinator. Within the Ministry, the sectorial planning unit (UPME) supports the MSG technical work. Below is the detailed composition of the National Tripartite Commission:
- Government constituency
- EITI Champion: Deputy Minister of Mines- Carlos Andrés Cante
- National Tax Office (DIAN) - Sandra Virguez - Elizabeth Salamanca
- Planning National Department (DNP) - Amparo Garcia - Uver Chaux - Leonardo Rojas
- Industry constituency
- Ecopetrol - Mónica Tangarife - Monica Jiménez
- Colombian Petroleum Association (ACP) - Alexandra Hernández - Andrea López
- Colombian Mining Association (ACM) - Santiago Angel
- Civil Society constituency
- Crudo Transparente - Alvaro Jiménez - Yessica Prieto Ramos
- Conciudadanía - Fernando Valencia
- Alianza para la Minería Responsable - Elizabeth Echavarría - Marcin Piersiak
This is the work plan for the period of 2020 -2023 of Colombia.
This is the Colombia EITI 2017 Annual Progress Report (in accordance with Requirement 7.4 and 8.4).
On 29 June 2018, Colombia was found to have made satisfactory progress in implementing the EITI Standard. See Board decision 2018-38/BM-40/BP-40-6-A
Timeline of Validation and related materials:
1 January 2018: Validation commenced29 January-2 February 2018: Country visit
Initial data collection and stakeholder consultations