LatinNews Daily - 31 August 2023

In brief: Bolivia’s gov’t admits drop in gas reserves and production

*Armin Dorgathen, the president of Bolivia’s state oil company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), has acknowledged a drop in natural gas reserves and production but said that the government led by President Luis Arce is working to reverse this. He said that there had been a strong decline since 2014 when the country was producing 59m cubic metres per day (m3/d) – a figure that has dropped to 38m m3/d currently. He attributed this to the lack of major exploratory projects, saying that hydrocarbons production mainly came from four megafields. He said that in 2020, when President Arce took office, YPFB began a reactivation plan and more than 42 exploration projects were currently under way.

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