Bolivia’s oil and gas revenue increased in 2019’s first semester

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Bolivia's Hydrocarbon Minister, Luis Alberto Sanchez, presented first semester figures for the oil and gas industries. | Photo: Reuters

LA PAZ, Bolivia (TeleSUR) — Bolivia’s Hydrocarbon minister Luis Alberto Sanchez, revealed Tuesday the rise of oil revenues in the first half of 2019, which reached US$ 1.1 billion.

The income is higher than what was reported last year for the same period when it registered just a little more than US$ one billion, Sanchez told local media.

Concerning the current production of gas, he said that it represented 58 million cubic meters per day, and the figure is expected to increase during the coming weeks.

The minister said that Bolivia has gone from being a country that imports liquefied petroleum gas (LPG) to one of the largest exporters in the region, as it provides for more than 90 percent of the Paraguayan market, as it also exports to Peru and Argentina.

The nationalization of hydrocarbons in 2006, by president Evo Morales, was profitable to the Bolivian state as 46 billion dollars were invested in public infrastructure and equipment.

The country’s hydrocarbons minister also indicated that according to a report released by Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), a Bolivian state-owned oil and gas company, the production of urea (fertilizer) and LGP increased in the first six months of this year, compared to the similar period in 2018.

“The hydrocarbon sector has boosted the national economy since its nationalization and will continue to do so. We face a national challenge which is the internationalizing of YPFB, so that it could be distributed in other countries, which will allow us to generate greater income for Bolivia,” the minister concluded.

Meanwhile, dLocal; – a 360 payments technology platform for mass online payments and payouts in emerging markets across Latin America, APAC, Middle East and Africa, brings cross-border payment services to merchants selling in Bolivia to support bank transfers.

“Payments infrastructure in LATAM, APAC, and MENA is fragmented and complex, dLocal chief executive officer (CEO) Sebastian Kanovich said: “Companies that enter these markets without the ability to accept locally relevant payment methods are often unintentionally limiting their reach and hindering their growth.

“As part of our mission, we develop deep expertise in each local market we serve, and we’re pleased to add Indonesia, Ecuador, and Bolivia to the growing list of countries available to our clients.”

At present, the company supports more than 300 local payment methods in 15 emerging markets including Brazil, China, India, Indonesia, and Mexico, with a client base of over 450 includes e-commerce retailers, SaaS companies, online travel firms, and marketplaces. Total market available to its clients stands at around $140 billion.

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