There are signs of significant gas reserves in geological formation of Huamampampa in the regions of Santa Cruz, Chuquisaca and Tarija, announced the government. Hydrocarbons Minister, Luis Alberto Sánchez, said that after having exceeded the 7,800 meters of drilling there are strong indications of the existence of a “sea of gas”. However, gas analysts warned that at that depth the results of production tests should be expected to determine profitability.
The World Bank sent a bleak message about the global economy, reducing its growth forecasts to 2.9% in 2019 and 2.8% in 2020, amid the attenuation of international trade and growing financial pressures on emerging markets. In Latin America, the recovery is losing steam, weighed down by the contraction in Argentina and the persistent uncertainty in the two largest economies in the region: Brazil and Mexico.
The Confederation of Private Employers of Bolivia (CEPB) reported on Tuesday that it presented to the Plurinational Constitutional Court, an action unconstitutionality against the content of 7 articles and two transitory provisions of Law 1055 – of Social Enterprises, with the request that the rule is suspended.
Brazil’s Minister of Infrastructure, Tarcísio de Freitas, reported yesterday that President Jair Bolsonaro will privatize or liquidate at least 150 companies belonging to the State. De Freitas pointed out that these are companies that, according to their criteria, are not important within the Brazilian economy and will be phased out by 2022.
The Government will inject $ 106 million this year to the agroindustry in Santa Cruz for the purchase of 150 million liters of anhydrous alcohol for the production of the Super Ethanol 92 biofuel, following the signing of the contract between YPFB and the sugar mills Guabirá, Unagro, La Bélgica and Aguaí.
El Niño plays the country with more doors and unpredictable rains that have left 2,200 families affected in only nine days and 975 victims in four municipalities, reported on Wednesday the Deputy Minister of Civil Defense, Carlos Bru.
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.
Bolivia ranks 128 among 161 countries to do business in 2019, according to Forbes. The American publication states that Bolivia is a resource-rich country with strong growth attributed to captive markets for gas exports, Brazil and Argentina. However, it remains one of the least developed countries in the region because of state-directed policies that deter investment.