Government seeks to restore YPFB’s oil and gas production and refining

Bolivia’s government says it wants state oil company YPFB to produce and refine hydrocarbons again, rather than function mainly as a fuel-marketing company.

Public Works, Services and Housing Minister Mauricio Zamora announced the objective after entering YPFB Refinación in Santa Cruz with the commission overseeing the intervention. The commission is examining the company’s economic, financial, logistical and commercial situation while looking for concrete solutions.

“We are evaluating the company’s situation and structuring concrete solutions. The objective is clear: for our state company to produce and refine hydrocarbons again and stop being merely a marketing company,” Zamora said.

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We are evaluating the company’s situation and structuring concrete solutions. The objective is clear: for our state company to produce and refine hydrocarbons again and stop being merely a marketing company.

The first review found problems in logistics, fuel reception and distribution. The commission also identified difficulties assigning fuel to service stations and large consumers. Personnel management and procedures that remain manual will undergo review and reorganization.

YPFB President Sebastián Daroca said the initial measures include procedural changes, staff suspensions and the automation of processes. “We are going to recover YPFB’s productive capacity and put it back at the service of Bolivia,” Zamora said.

The intervention comes as YPFB faces criticism over fuel shortages. The supply problems have produced repeated lines at service stations and particularly affected productive industries and the transport sector.

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We are going to recover YPFB’s productive capacity and put it back at the service of Bolivia.