Day: Apr 2, 2019

IMF chief warns of slower growth for most countries worldwide

The head of the International Monetary Fund has warned that the majority of countries around the world can expect slower growth in 2019 as the global economy loses momentum. Christine Lagarde said rising trade tensions, concerns over Brexit and tougher financial conditions as central banks raised interest rates had “increasingly unsettled” the world economy over recent months.

Petrobras fined Bolivia for exporting gas below the minimum agreed

Last week Petrobras imposed a fine on Bolivia because during some months of last year the Bolivian state oil company (YPFB) sent only 22.6 million cubic meters (mcm) of gas when the demand was 26 mcm. The Gas Supply Agreement (GSA) signed with Brazil in 1996 – that expires this year- establishes a minimum purchase volume of 24 mcm of gas and maximum delivery of 30.08 mcm. If 1.5 mcm of fuel gas were included, a total of 31.5 mcm should be sent. 

India formalise its intention to import lithium carbonate from Bolivia

“A multi-point agreement has been signed, including the exploitation of Bolivian lithium, due to India’s interest in buying lithium carbonate, as well as a possible partnership to build a lithium-battery plant in India, ” announced Bolivia’s state lithium company (YLB) CEO, Juan Carlos Montenegro.  The idea of the lithium-battery plant is still in a macro plan that should be worked on in the coming months. 

Lithium’s global demand for EVs could benefit Bolivia

An increase in the world demand of lithium batteries is foreseen for the coming years, mainly in Asia, announced Bolivia’s state lithium company (YLB) director, Marco Kucharski. Only China plans to manufacture between 200 and 500 million electric vehicles, a trend that would benefit Bolivia who has one of the world’s largest lithium reserves. He also emphasized that the electronics and chemical sectors will be important consumers of the mineral, taking into account that planes today use a lithium-titanium alloy to perform operations.