Industry

Bolivia will import oil to reduce $1bn subsidies in liquid fuel

Imports of $1 billion subsidized liquid fuel (gasoline and diesel) are unsustainable for the state. The Ministry of Hydrocarbons reported that it would take the following measures: 1) Import oil to further refining in Bolivia, as refineries have an idle production capacity of between 50% and 60%. 2) Strengthen the production of biofuels obtained from the processing of cane and sorgo. The Government expects a cost reduction of between 30% and 40%.

Source: El Deber

Categories:Industry