Daily Archives: June 25, 2011

Fall of the Bolivian oil production

Today Pagina Siete reports that Bolivian oil production fell by 15% as of last year. Back in December 2010, Carlos Villegas as President of the Bolivian State major oil company (YPFB), reported that over the last five years, production fell by 50%. According to the Bolivian Institute for Foreign Commerce (IBCE), Bolivia has increased its imports of gasoline and diesel by 25% as of last year.

http://www.paginasiete.bo/2011-06-25/Economia/Destacados/10Eco01250611.aspx

Dependence of imports and stagnant foreign investment will also have a negative impact over energy production (electricity) by the second semester of this year. Unfortunately, these news are not promising and worst of all, there are no indications of even slight improvement over energy production in the short/medium run.