Industry

Covid-19 and $19 mn state debt hinder oil company investments

The fall in the international price of oil put at risk the operational continuity of many oil companies in Bolivia, to which the State owes more than $19 million for commitments made in the last two years, within the framework of the Law for the Promotion of Investment in the Exploration and Exploitation of Hydrocarbons. According to data from YPFB, gas production in 2025 will fall by more than 26% compared to 2019. If Bolivia does not do anything in exploration, in the next four or five years, it will import 100% of liquid fuels, and in seven or eight years it will have no gas to export.

Source: Los Tiempos

Categories:Industry