Bolivia prepares new Hydrocarbons Law to boost energy production

Bolivian President Rodrigo Paz has announced plans to introduce a new Hydrocarbons Law, expected to be presented to the Legislative Assembly by September. The proposed reform aims to revitalize the country's energy sector by boosting the exploration and production of gas, oil, and fuels to reverse a sustained decline in production and reduce dependence on imports.

A key component of the reform involves restructuring the state-owned company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). The government intends to shift YPFB’s focus away from mere commercialization toward active exploration and the discovery of new reserves. YPFB President Sebastián Daroca noted that the company is undergoing an institutional restructuring and human talent evaluation with international support to increase efficiency.

President Paz also criticized the management of previous administrations, specifically regarding the Carlos Villegas Quiroga Separation Plant in Tarija. He characterized the infrastructure's current utility as disproportionate to the high level of public investment it received, describing the situation as a “circus” that failed to deliver expected results.