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, available here.
- The Hydrocarbons Code, available here.
- The Mining Code, available here.
- Other regulations, including the National Mining Policy and Ministry of Mines's norms.
Historical information since 2012 about the extractive sector is available here.
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. Ecopetrol's legal framework is available here. 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 2016 EITI Report is, for the first time, totally available online. 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 environmental 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 three EITI Report covering fiscal years 2013 to 2016 . The latest report was published on December 2017. The reports covers corporate tax, royalties, Ecopetrol’s dividends and other taxes.
EITI-Colombia is currently undergoing Validation. The International Secretariat visited the country for stakeholders consulation in early February 2018. The Board is currently preparing the assessment and a decision is expected in the coming months.
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 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
This is the Colombia EITI 2017-2019 work plan (in accordance with Requirement 1.5)
This is the Colombia EITI 2016 Annual Progress Report (in accordance with Requirement 7.4 and 8.4).
This EITI Report covers Colombia's extractive sector in 2014-2015. It was published in January 2017.
This EITI Report covers Colombia's extractive sector in 2013. It was published in December 2015.
This is the Colombia EITI 2014-2016 work plan (in accordance with Requirement 1.5).
This is the Colombia EITI 2014 Annual Progress Report (in accordance with Requirements 7.4 and 8.4).