Economy

Weekly news on oil & gas

Argentina will export gas to Brazil from Vaca Muerta
Germany’s Wintershall will send 1.2 million cubic metres of gas per day to the power plants that operate in the south of Brazil. Brazil will pay $US5.65 per million BTU, a considerable lower price to the one offered by Bolivia, which is more than $US6 per million BTU.
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Price of gas exports to Brazil and Argentina increased by 43% in 2018
The prize of gas that Bolivia export to Brazil and Argentina has increased by 43% from $US4.2 for million BTU (British Termic Unit) at the end of 2017 to $US 6 for million BTU for the last quarter of this year, according to the Ministry of Hydrocarbons. Bolivia is renegotiating with Brazil a new contract for gas exports and also is negotiating with Argentina an adjustment to the current contract.
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Drop in oil prices and volumes of gas exports will impact revenues in 2019
The drop in oil prices and the volumes of gas exports to Brazil and Argentina could have an impact on revenues. According to the regional government in Santa Cruz, revenues would fall by 40% at the beginning of 2019 which will impact public investment.
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Bolivia and Brazil negotiate a new gas contract that will include the provision of electricity
Bolivia and Brazil look to renew its current gas sale contract with the addition of electricity. The current gas contract, signed in 1996, will end next year and a bilateral commision already start working on the terms of the new energy agreement, said the Brazilian ambassador in Bolivia, Raymundo Santos. Brazil is the main destiny of Bolivian gas exports.
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Bolivia will stop receiving Bs. 383 million due to lower gas sales
Bolivia’s regions and the Treasury (TGN) will see an income reduction of Bs. 383million due to lower gas exports to Argentina and Brazil, according to a study of the regional government in Santa Cruz.
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Bolivia must change the rules to attract investments in the hydrocarbons industry
Argentina and Brazil opened to foreign investment, and thus they managed to increase their oil and gas reserves. They also progressed to become self-sufficient in energy. Meanwhile, Bolivia stayed behind as there were no new oil and gas discoveries in the last decade. “Therefore the rules must be modified to attract private capital towards the hydrocarbon sector,” stated energy consultant Boris Gomes Uzqueda.
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Brazil and Argentina paid $US257 million to Bolivia for gas
Argentina and Brazil have cancelled a debt of $US257 million to Bolivia for the purchase of gas, informed Bolivia’s Central Bank president, Pablo Ramos. He added that the money would increase the country’s international reserves.
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YPFB: Nationalisation generated more than $US36bn
Bolivia received more than $US36bn thanks to the nationalisation of hydrocarbons companies in 2006, according to the President of the state oil corporation (YPFB).
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Drastic reduction on Bolivia’s gas production
Bolivia’s gas production has dropped from about 54-55 million cubic meters per day to 37 million, which represents a decrease of about one third, alerted regional authorities in Santa Cruz.
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