Bolivia negotiates with Paraguay the export of 4 million cubic meters of gas and also studies the possibility of selling to Peru, so that the Bolivian gas markets would increase from two to four, announced the Minister of Hydrocarbons, Luis Alberto Sanchez
Diversify exports, review the exchange rate, lower the fiscal deficit, lower labour costs, reduce the external debt and balance the international reserves, increase productivity and restore confidence in the economic policy are some of the urgent challenges that Bolivia faces in 2019, an electoral year, said several economists consulted by Los Tiempos.
2019 is an electoral year, and it comes with uncertainty for new investments in the hydrocarbons sectors, warn the Bolivian Hydrocarbons and Energy Chamber (CBHE). The organisation said that gas production has reduced since 2014 and there is an urgency to broaden the exploratory frontier, but the political environment will have an impact in 2019.
The public and private sector will invest $US950 million to develop Puerto Busch, in Santa Cruz, which will improve Bolivian exports towards the Atlantic Ocean through the Paraguay-Parana Waterway, said the Minister of Government, Carlos Romero. The investment split is expected to be US$ 500 million public sector and US$ 450 million private sector.
According to minister Luis Alberto Sánchez, new investments, industrialisation, legal certainty and market opportunities, will generate more income and Bolivia will enter into a “Platinum age” in the hydrocarbons sector. He also affirmed that by 2025 it is expected investments of more than $US9.5 billion in this sector.
Production of oilseeds and other crops has increased by 4% but producers need more support from the government to have better access to biotechnology to improve profitability and ensure food safety in the country, said the president of the National Association of Oilseed and Wheat Producers (Anapo), Richard Paz.
We wish you a very Happy Holiday season and a peaceful and prosperous New Year from everyone at Bolivia Económica.
We will be back in January.
Bolivia expects to sign new gas contracts with Brazilian firms, announced the Hydrocarbons Minister, Luis Alberto Sanchez. According to Sanchez, the new contracts will generate more profits than the current one with the state-owned Petrobras. He added that Bolivia will continue to export gas to Brazil and Argentina even at better prices. However, both Brazil and Argentina states have announced that they need fewer volumes of gas.
With 20 projects, Bolivia continues to occupy the second place in financial education in Latin America, according to the Latin American Bank Federation (Felaban). Argentina ranks first while Colombia and Paraguay are in third place. Chile, El Salvador, Guatemala and the Dominican Republic are the countries that show the lowest numbers of financial education initiatives.
US private sector firms could invest up to US$20 billion per annum in oil, gas, fracking, as well as renewables and electricity. Argentina is aiming to attract up to US$140 billion of investment by 2030 from the US. In addition, France will also be investing in the energy sector over the next couple of years.