YPFB buys diesel with an alleged overprice of more than $7.5 million | YPFB compra diésel con más de $us 7,5 millones de supuesto sobreprecio

By Brújula Digital:

YARBEL SA has no website or social media presence, according to an internet search, and only appears in a business directory.

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With a one-week difference, YPFB awarded diesel purchases to two companies at more than double the price per cubic meter, according to awarding documents obtained by Brújula Digital. The company that sold at the higher price does not even have a website.

On January 17, Trafigura PTE was awarded the supply of 528,000 cubic meters of fuel at a rate of $76.8 per cubic meter. Then, on January 24, YPFB awarded YARBEL SA the supply of 135,000 cubic meters at a cost of $133 per cubic meter.

The price difference in favor of YARBEL SA amounts to $53.1 per cubic meter, which, when multiplied by the contracted volume, totals an alleged overprice of $7.5 million, YPFB sources told Brújula Digital (see the awarding documents attached).

The sources added that the awarded company has no experience in fuel transport logistics and would only act as an intermediary for Bolivia’s state oil company to acquire Russian diesel. Brújula Digital requested a comment from YPFB on this matter.

YARBEL SA has no website or social media presence, according to an internet search, and only appears in a business directory.

The sources, who requested anonymity, stated that the price difference is unjustifiable, as the awarding documents match in terms of deadlines, conditions, and the delivery point of the fuel: the terminal in Chile for the Sica Sica-Arica pipeline.

Bolivia subsidizes diesel and gasoline purchases with around $3 billion annually, importing fuel at international prices and selling it at reduced prices in the domestic market. To worsen the situation, it is estimated that Bolivia loses $600 million annually due to the smuggling of subsidized fuels, which are sold in neighboring countries.

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