| | For the year ended on December 31, 2017 | | |||||||||||||
| | Exploration and Production | | Refining and Petrochemicals | | Transport and Logistics | | Eliminations | | Total | | |||||
Third-party sales | | | 25,004,320 | | | 27,343,359 | | | 3,606,549 | | | - | | | 55,954,228 | |
Inter-segment sales | | | 11,490,614 | | | 1,300,657 | | | 6,991,515 | | | (19,782,786) | | | - | |
Total sales revenue | | | 36,494,934 | | | 28,644,016 | | | 10,598,064 | | | (19,782,786) | | | 55,954,228 | |
Fixed costs | | | 8,055,925 | | | 2,886,745 | | | 2,637,604 | | | (3,239,880) | | | 10,340,394 | |
Variable costs | | | 18,254,159 | | | 23,968,650 | | | 634,231 | | | (16,289,109) | | | 26,567,931 | |
Cost of sales | | | 26,310,084 | | | 26,855,395 | | | 3,271,835 | | | (19,528,989) | | | 36,908,325 | |
Gross profit | | | 10,184,850 | | | 1,788,621 | | | 7,326,229 | | | (253,797) | | | 19,045,903 | |
Administrative expenses | | | 781,386 | | | 516,501 | | | 466,669 | | | (32) | | | 1,764,524 | |
Operation and project expenses | | | 2,070,916 | | | 965,457 | | | 142,847 | | | (253,155) | | | 2,926,065 | |
Impairment of non-current assets | | | (183,718) | | | (1,067,965) | | | (59,455) | | | - | | | (1,311,138) | |
Other operating income and expenses, net | | | (545,218) | | | 11,694 | | | 28,121 | | | - | | | (505,403) | |
Operating income | | | 8,061,484 | | | 1,362,934 | | | 6,748,047 | | | (610) | | | 16,171,855 | |
Financial result, net | | | | | | | | | | | | | | | | |
Financial income | | | 1,062,393 | | | 164,006 | | | 106,659 | | | (173,702) | | | 1,159,356 | |
Financial expenses | | | (2,288,576) | | | (1,110,874) | | | (434,664) | | | 173,513 | | | (3,660,601) | |
Foreign exchange gain (loss), net | | | (101,030) | | | 163,992 | | | (57,448) | | | - | | | 5,514 | |
| | | (1,327,213) | | | (782,876) | | | (385,453) | | | (189) | | | (2,495,731) | |
Share of profits of associates | | | 120,786 | | | 15,245 | | | (42,493) | | | - | | | 93,538 | |
Income before tax | | | 6,855,057 | | | 595,303 | | | 6,320,101 | | | (799) | | | 13,769,662 | |
Income tax | | | (3,034,556) | | | (238,625) | | | (2,527,087) | | | - | | | (5,800,268) | |
Net profit (loss) for the period | | | 3,820,501 | | | 356,678 | | | 3,793,014 | | | (799) | | | 7,969,394 | |
Profit (loss) attributable to: | | | | | | | | | | | | | | | | |
Group owners of parent | | | 3,820,501 | | | 358,859 | | | 2,999,978 | | | (799) | | | 7,178,539 | |
Non-controlling interest | | | - | | | (2,181) | | | 793,036 | | | - | | | 790,855 | |
| | | 3,820,501 | | | 356,678 | | | 3,793,014 | | | (799) | | | 7,969,394 | |
Supplementary information | | | | | | | | | | | | | | | | |
Depreciation, depletion and amortization | | | 5,981,294 | | | 1,188,871 | | | 1,111,182 | | | - | | | 8,281,347 | |
| | For the year ended December 31, 2016 | | |||||||||||||
| | Exploration and Production | | Refining and Petrochemicals | | Transportation and Logistics | | Eliminations | | Total | | |||||
Third-party sales | | | 20,527,332 | | | 24,194,024 | | | 3,764,205 | | | - | | | 48,485,561 | |
Inter-segment sales | | | 7,693,878 | | | 629,690 | | | 6,884,571 | | | (15,208,139) | | | - | |
Total sales revenue | | | 28,221,210 | | | 24,823,714 | | | 10,648,776 | | | (15,208,139) | | | 48,485,561 | |
Fixed cost | | | 6,940,074 | | | 2,458,745 | | | 2,861,269 | | | (2,968,780) | | | 9,291,308 | |
Variable cost | | | 16,032,574 | | | 20,385,242 | | | 488,522 | | | (11,946,223) | | | 24,960,115 | |
Cost of sales | | | 22,972,648 | | | 22,843,987 | | | 3,349,791 | | | (14,915,003) | | | 34,251,423 | |
Gross profit | | | 5,248,562 | | | 1,979,727 | | | 7,298,985 | | | (293,136) | | | 14,234,138 | |
Administrative expenses | | | 832,266 | | | 574,413 | | | 516,884 | | | (295) | | | 1,923,268 | |
Operation and projects expenses | | | 1,656,960 | | | 1,206,718 | | | 180,353 | | | (292,344) | | | 2,751,687 | |
Impairment of non-current assets | | | 196,448 | | | 773,361 | | | (41,062) | | | - | | | 928,747 | |
Other operating income and expenses, net | | | (349,419) | | | 20,947 | | | 53,559 | | | 801 | | | (274,112) | |
Operating income | | | 2,912,307 | | | (595,712) | | | 6,589,251 | | | (1,298) | | | 8,904,548 | |
Financial result, net | | | | | | | | | | | | | | | | |
Financial income | | | 983,472 | | | 46,469 | | | 61,373 | | | 220,429 | | | 1,311,743 | |
Financial expenses | | | (2,017,641) | | | (952,006) | | | (262,844) | | | (231,049) | | | (3,463,540) | |
Foreign exchange gain (loss), net | | | 923,573 | | | 94,715 | | | (41,858) | | | - | | | 976,430 | |
| | | (110,596) | | | (810,822) | | | (243,329) | | | (10,620) | | | (1,175,367) | |
Share of profit of associates | | | 39,397 | | | 22,785 | | | (837) | | | - | | | 61,345 | |
Income before tax | | | 2,841,108 | | | (1,383,749) | | | 6,345,085 | | | (11,918) | | | 7,790,526 | |
Income tax | | | (1,518,738) | | | (446,595) | | | (2,577,713) | | | - | | | (4,543,046) | |
Net income for the period | | | 1,322,370 | | | (1,830,344) | | | 3,767,372 | | | (11,918) | | | 3,247,480 | |
Income attributable to: | | | | | | | | | | | | | | | | |
Group owners of parent | | | 1,322,370 | | | (1,823,020) | | | 2,960,449 | | | (11,918) | | | 2,447,881 | |
Non-controlling interest | | | - | | | (7,324) | | | 806,923 | | | - | | | 799,599 | |
| | | 1,322,370 | | | (1,830,344) | | | 3,767,372 | | | (11,918) | | | 3,247,480 | |
Supplementary information | | | | | | | | | | | | | | | | |
Depreciation, depletion and amortization | | | 5,482,827 | | | 1,145,780 | | | 978,394 | | | - | | | 7,607,001 | |
| | For the year ended December 31, 2015 | | |||||||||||||
| | Exploration and Production | | Refining and Petrochemicals | | Transportation and Logistics | | Eliminations | | Total | | |||||
Third-party sales | | | 25,669,213 | | | 22,456,866 | | | 4,221,192 | | | - | | | 52,347,271 | |
Inter-segment sales | | | 6,063,398 | | | 788,810 | | | 6,623,358 | | | (13,475,566) | | | - | |
Total Revenue | | | 31,732,611 | | | 23,245,676 | | | 10,844,550 | | | (13,475,566) | | | 52,347,271 | |
Fixed costs | | | 7,208,632 | | | 1,902,797 | | | 3,304,815 | | | (2,790,793) | | | 9,625,451 | |
Variable costs | | | 18,500,240 | | | 18,856,011 | | | 439,607 | | | (10,426,793) | | | 27,369,065 | |
Cost of sales | | | 25,708,872 | | | 20,758,808 | | | 3,744,422 | | | (13,217,586) | | | 36,994,516 | |
Gross income | | | 6,023,739 | | | 2,486,868 | | | 7,100,128 | | | (257,980) | | | 15,352,755 | |
Administrative expenses | | | 731,626 | | | 451,250 | | | 518,109 | | | - | | | 1,700,985 | |
Operation and projects expenses | | | 2,969,723 | | | 1,155,301 | | | 157,596 | | | (248,352) | | | 4,034,268 | |
Impairment of non-current assets | | | 4,504,497 | | | 3,278,993 | | | 81,388 | | | - | | | 7,864,878 | |
Other operating income and expenses, net | | | (399,954) | | | 122,595 | | | (101,182) | | | - | | | (378,541) | |
Operating income | | | (1,782,153) | | | (2,521,271) | | | 6,444,217 | | | (9,628) | | | 2,131,165 | |
Finance results, net | | | | | | | | | | | | | | | | |
Financial income | | | 536,121 | | | 135,622 | | | 86,568 | | | (136,387) | | | 621,924 | |
Financial expenses | | | (1,774,090) | | | (451,906) | | | (492,485) | | | 67 | | | (2,718,414) | |
Foreign exchange gain (loss), net | | | (4,798,741) | | | (949,176) | | | 181,303 | | | - | | | (5,566,614) | |
| | | (6,036,710) | | | (1,265,460) | | | (224,614) | | | (136,320) | | | (7,663,104) | |
Share of profit of companies | | | (70,407) | | | 23,187 | | | 533 | | | - | | | (46,687) | |
Income before tax | | | (7,889,270) | | | (3,763,544) | | | 6,220,136 | | | (145,948) | | | (5,578,626) | |
Income tax | | | 2,037,650 | | | (257,256) | | | (2,490,747) | | | - | | | (710,353) | |
Net income (loss) for the period | | | (5,851,620) | | | (4,020,800) | | | 3,729,389 | | | (145,948) | | | (6,288,979) | |
Income attributable to: | | | | | | | | | | | | | | | | |
Group owners of parent | | | (5,851,620) | | | (4,016,050) | | | 2,819,759 | | | (145,948) | | | (7,193,859) | |
Non-controlling interest | | | - | | | (4,750) | | | 909,630 | | | - | | | 904,880 | |
| | | (5,851,620) | | | (4,020,800) | | | 3,729,389 | | | (145,948) | | | (6,288,979) | |
| | | | | | | | | | | | | | | | |
Supplementary information | | | | | | | | | | | | | | | | |
Depreciation, depletion and amortization | | | 5,318,587 | | | 570,033 | | | 881,738 | | | - | | | 6,770,358 | |