Impairment of long-term assets (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Impairment of long-term assets |
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| Schedule of impairments or reversals |
| | | | | | | Impairment reversal (loss) by segment | | 2025 | | 2024 | | 2023 | Exploration and production | | (325) | | (480) | | (2,741) | Refining and petrochemicals | | — | | 1,265 | | 1,482 | Transport and logistics | | 346 | | 127 | | (630) | Energy transmission and toll roads concessions | | 2 | | (45) | | (209) | | | 23 | | 867 | | (2,098) | | | | | | | | Recognized in: | | | | | | | Property, plant, and equipment (Note 14) | | 255 | | 1,262 | | 206 | Natural and environmental resources (Note 15) | | (271) | | (333) | | (2,154) | Investment in associates and joint ventures (Note 13) | | — | | 15 | | (8) | Right of use assets (Note 16) | | 26 | | (27) | | (26) | Other non-current assets | | 13 | | (50) | | (116) | | | 23 | | 867 | | (2,098) |
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| Schedule of breakdown of oilfields impairment losses or reversals |
2025 | | | | | | | | | Carrying | | Recoverable | | Impairment | Cash generating units | | amount | | amount | | reversal (loss) | Oil fields in Colombia | | | | | | | Reversal | | 2,534 | | 3,991 | | 391 | Loss | | 3,209 | | 2,493 | | (716) | | | | | | | (325) |
2024 | | | | | | | | | Carrying | | Recoverable | | Impairment | Cash generating units | | amount | | amount | | reversal (loss) | Oil fields in Colombia | | | | | | | Reversal | | 3,109 | | 6,131 | | 880 | Loss | | 3,739 | | 2,364 | | (1,375) | | | | | | | (495) |
2023 | | | | | | | | | Carrying | | Recoverable | | Impairment | Cash generating units | | amount | | amount | | reversal (loss) | Oil fields in Colombia | | | | | | | Reversal | | 9,815 | | 18,113 | | 364 | Loss | | 10,048 | | 6,951 | | (3,097) | | | | | | | (2,733) |
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| Schedule of refining and petrochemical segment |
| | | | | | | | | Year ended December 31 | | | 2025 | | 2024 | | 2023 | Refinería de Cartagena | | — | | 1,265 | | 1,482 | | | — | | 1,265 | | 1,482 |
2024 | | | | | | | | | Carrying | | Recoverable | | Impairment | Cash–generating units | | amount | | amount | | reversal (loss) | Refinería de Cartagena S.A.S. | | 28,237 | | 35,330 | | 1,265 | | | | | | | 1,265 |
2023 | | | | | | | | | Carrying | | Recoverable | | Impairment | Cash–generating units | | amount | | amount | | reversal (loss) | Refinería de Cartagena S.A.S. | | 26,423 | | 27,906 | | 1,482 | | | | | | | 1,482 |
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| Schedule of energy transmission and roads |
| | | | | | | | | Year ended December 31 | Cash–generating units | | 2025 | | 2024 | | 2023 (4) | Intangibles (1) | | 12 | | 2 | | (13) | Property, plant and equipment (2) | | (10) | | (4) | | (98) | Non-current assets held for sale (3) | | — | | (43) | | (98) | | | 2 | | (45) | | (209) |
| (1) | In 2025, an impairment recovery of $15 was recognized for ISA Bolivia as a result of the comprehensive strategy that improved the company’s projected net future cash flows. In 2024, an impairment of $27 was recognized on assets due to the impact of the Bolivian peso’s devaluation against the US dollar and the increase in country risk due to its macroeconomic situation. Additionally, InterNexa Colombia recognized an impairment of $3 on its offshore capacity rights as a consequence of market price erosion due to a substantial increase in supply (2024: $16). |
| (2) | During 2025, an impairment expense of $10 was incurred due to the cancellation of ISA’s Colombian Pipeline Connection to the Caucasia 110 kV Substation (CAUC) project. In 2024, Consorcio Transmantaro updated the carrying amount of the Yaros land, part of the Nueva Yanango project, and recognized an impairment recovery of $2. |
| (3) | During 2024, the effective sale of the stake in the net assets that InterNexa Participações and InterNexa Perú owned in InterNexa Brasil was carried out. |
| (4) | As of December 31, 2023, the impairment loss was allocated to non-current assets held for sale and subsequently to property, plant, and equipment and intangible assets based on their book values. An impairment of non-current assets in the energy transmission and toll roads concessions segment of $209 mainly due to: (i) impairment $85 in Consorcio Transmantaro due to lower fair market value in Yaros project, (ii) impairment of $86 in Internexa Brazil and $13 in Intenexa Argentina, considering the update of the business plan that reflected a decrease in revenues and operating margins. |
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| Investment in joint ventures |
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| Impairment of long-term assets |
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| Schedule of breakdown of oilfields impairment losses or reversals |
| | | | | | | | | Year ended December 31 | | | 2025 | | 2024 | | 2023 | Equion Energía Limited | | — | | 15 | | (8) | | | — | | 15 | | (8) |
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| Exploration and Production |
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| Impairment of long-term assets |
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| Schedule of breakdown of oilfields impairment losses or reversals |
| | | | | | | | | 2025 | | 2024 | | 2023 | Oilfields | | (325) | | (495) | | (2,733) | Investment in joint ventures | | — | | 15 | | (8) | | | (325) | | (480) | | (2,741) |
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