The following EITI report covers the year 2018 for Colombia's extractive sector.
The extractive sector represents around 5% of Colombia GDP in 2018 and 1st Quarter of 2019. Colombia has published revenue data from the extractive industries since 2013 to 2018. The reports show that industry contribution to the state has declined over the years. While the sector generated 6.5 bn USD in fiscal revenues, this represents 9.6 % of total fiscal revenues. The sector is the largest exporter. In 2018 extractive exports totalled 23 bn USD from a total of 42 bn USD (53%). Ecopetrol continues to be the largest extractive company contributor. In 2018 Ecopetrol dividends alone represented 15% of total revenue from the sector. Companies reporting under the EITI Standard account for 88% of the revenues generated from the oil, gas and mining companies.
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.
- Since joining the EITI in 2014, 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.
- Colombia also uses an online platform 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.
- Colombia's reports brought innovative information on other topics like transportation and tax authority reforms.
- Colombia's EITI portal includes a Guide to environmental payments and regulations.
- 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.
The Ministry of Mines and Energy hosts the EITI national secretariat. Deputy-Minister of Mining, Carolina Rojas is the EITI Champion and Lorena Roa is 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
- National Tax Office (DIAN)
- Planning National Department (DNP)
- Industry constituency
- Colombian Petroleum Association (ACP)
- Colombian Mining Association (ACM)
- Civil Society constituency
- Crudo Transparente
- Observatorio Colombiano de Minería - OCMI - Univ. del Rosario
- Universidad Externado de Colombia
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
This is the summary report by the Independent Administrator (EY) for Colombia 2016 EITI Report (Results of reconcilation of payments and revenues).