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🇧🇴 Bolivia /Energy & Infrastructure

President Paz warns Bolivia could run out of energy

From El Deber · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • President Rodrigo Paz warned that Bolivia could lose electricity and energy within two and a half to three years without new hydrocarbons development and foreign investment.
  • He urged lawmakers to approve investment and hydrocarbons legislation, while calling for environmental rules that do not block exploration.
  • A proposed law would allow oil companies to return under a 50/50 shared-investment model, as legal challenges continue to stall Petrobras's Domo Oso X3 exploration project in Tarija.

President Rodrigo Paz warned that Bolivia could face widespread power shortages within three years if the country fails to develop its hydrocarbon wells and attract foreign investment.

“If we do not develop the hydrocarbon wells, Bolivia will run out of light and energy in two and a half or three years. Of every 10 light bulbs we see, seven will go out,” Paz said while discussing energy security in Tarija.

If we do not develop the hydrocarbon wells, Bolivia will run out of light and energy in two and a half or three years. Of every 10 light bulbs we see, seven will go out.

· Rodrigo Paz PereiraThe Bolivian president warned of nationwide power shortages if hydrocarbon development does not expand.

The president said the problem would extend beyond Tarija. Cities, industry and the productive sector across Bolivia could be left without energy, he warned. He urged the Plurinational Legislative Assembly to approve pending investment and hydrocarbons laws intended to bring in foreign capital.

The proposed hydrocarbons law would change the participation framework and allow oil companies to return through a 50/50 shared-investment model. “If things go well for you, if they go well for us, it is as much for you as it is for me,” Paz said of the planned legislation.

If things go well for you, if they go well for us, it is as much for you as it is for me.

· Rodrigo Paz PereiraPaz described the proposed 50/50 shared-investment model for returning oil companies.

Paz also called on environmental groups not to turn protection demands into an obstacle to hydrocarbon development. He appeared to refer indirectly to residents of the Tariquía National Flora and Fauna Reserve who oppose Petrobras entering the area to begin the stalled Domo Oso X3 exploration project. The project faces legal challenges before the agro-environmental courts.

The president said important announcements would come in the following days in Santa Cruz, during the department’s anniversary month, concerning increased energy capacity. Tarija, he said, could not be left out. “In these 10 months, we have not been playing the violin, with all due respect to an instrument that sounds very good in Tarija,” Paz added.

In these 10 months, we have not been playing the violin, with all due respect to an instrument that sounds very good in Tarija.

· Rodrigo Paz PereiraThe president defended his administration’s work while discussing planned energy announcements.
About this summary

Originally published by El Deber in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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