Bolivia could import crude oil and process it in the country’s refineries to reduce fuel imports, said the Hydrocarbons Minister, Victor Hugo Zamora. In 2018, Bolivia spent $1.251 billion on imported diesel and gasoline and as of October this year, it spent around $1.3billion.
Bolivia’s government plans to build a fuel distribution plant in the south of the city of La Paz, to prevent fuel shortages in the future like the ones suffered after supporters of forme president Evo Morales blocked the Senkata plant, in El Alto, provoking severe shortages of gas and gasoline.
The damage caused to police installations after the recent political and social unrest in Bolivia reach Bs. 150 million ($21.7 million), said the head of the institution, Rodolfo Montero. Several police quarters were burned by Evo Morales’ supporters after his resignation to the presidency.
Brazil’s national agency for petroleum, natural gas and biofuels (ANP) says that, until fresh Bolivian elections are conducted, discussions will remain suspended. To further complicate things, Petrobras still has considerable unsupplied gas credits under the expiring contract which could last an additional two to four years.
Work on the Carrasco-Cochabamba Pipeline (GCC) was completed and soon operations will return to normal levels which will allow the supply of natural gas to the western cities of Cochabamba, Oruro and La Paz as well as the industrial sector impacted by the lack of supply.
Industrias Quantum Motors S.A. will be the first electrical car maker in Bolivia and, after receiving the certificate to produce cars from the Government, plans to sell more than 1,000 electrical vehicles across the country. Carlos Soruco, founding partner of the company said that there are existing orders for 150 electric cars, of which 44 have been already assembled. The price range are $5,200 to $5,900, depending on the model.
Bolivia will prioritise electricity exports to Argentina, said the Energy Minister, Alvaro Guzman. Bolivia has currently can produce 3,000 megawatts (mw) and the domestic demand reaches around 1,500 mw, leaving the surplus for exportation. Currently there is an export project to Argentina and there is the potential to sell electricity to the Brazilian state of Matto Grosso.
Bolivia’s 2020 Budget project contemplates the emission of sovereign bonds for $1.5 billion. “The Ministry of the Economy is authorised to hold public debt operations in external capital markets amounting to up to $1.5 billion or its equivalent in other currencies, for budgetary support”, said art. 19 of the Budget draft law, that it is expected to be reviewed by the Congress.
Bolivian oil companies Andina and Chaco report profits of Bs.104 million ($15.1 million) and Bs.72.2 million ($10.5 million), according to data from the Bolivian Stock Exchange (BBV). Both companies are subsidiaries of State-owned YPFB.
As of October this year, Bolivian private banks registered a profit of $230 million, said the Executive Secretary of Bolivian Banking Association (Asoban), Nelson Villalobos. He added that the profits represent a 12% return on Banks assets.