The Bolivian government has rejected predictions that the country will cease to be an exporter of natural gas and become a net importer by 2030. The government has said it has plans to invest some US$ 325 million in exploration and extraction in new wells by the country's hydrocarbons company, YPFB, Yacimientos Petroliferos Federales de Bolivia.
Bolivia's state-run oil company YPFB will import 2.5 million liters of diesel fuel from Chile to reverse the current shortage, it was announced.
Bolivia is diverting natural gas to Argentina, and unexpectedly has reduced the supply to Petrobras by 30% this month, catching the state-owned company off guard. As a result, Petrobras experienced a loss of more or less than 7 million cubic meters of gas per day. YPFB, the Bolivian state company, had been supplying Petrobras with approximately 20 million cubic meters per day.
Brazilian President Jair Bolsonaro complained that Bolivia's state-owned oil company Yacimientos Petróliferos Fiscales Bolivianos (YPFB) funneled 30% of the gas that was to be sold to Brazil and sent it to Argentina as a part of an “orchestrated plan” against him and added Petrobras was behind it.
Bolivia's Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) and Integración Energética Argentina Sociedad Anónima (IEASA) agreed to postpone the decision on a sixth addendum to the contract for the supply of natural gas for yet another month, according to a YPFB statement relesed Friday. Negotiations had been previously extended for two months, which ended on March 31.
While the Bolivian state-run YPFB is yet to report on any progress regarding payment conditions with Brazil for gas sales or the signing of the sixth addendum to the export contract with Argentina, hydrocarbon analysts have insisted on the need to roundup these negotiations given the current situation stemming from Russia's invasion of Ukraine.
Just when the deal between IEASA and Bolivia's YPFB for the supply of gas is about to end (Jan. 31), Argentina has been offered 35% less for the winter compared to previous years, it was reported.
Economic activity in Bolivia has grown 5.3% from January to April 2021, according to The Global Index of Economic Activity (IGAE), Economy Minister Marcelo Montenegro announced Tuesday.
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) CEO Wilson Zelaya announced the state-run company projected an oil income above 1,900 million US dollars for the year 2021, which would represent a 35% growth compared to 2020.
Bolivia will build ecological diesel and biodiesel plants to reduce imports of liquid fuels, Hydrocarbon and Energy Minister Franklin Molina announced over this past weekend.