Bolivia moves ahead with gas law overhaul and investment safeguards

Bolivia is accelerating a new Hydrocarbons Law aimed at making the gas sector more attractive to private investors. The draft proposes to restructure the state oil company YPFB, introduce flexible contractual models and preserve constitutional constraints while improving certainty for exploration and production. President Rodrigo Paz highlighted the urgency of the reform, and Brazilian firm Petrobras has expressed renewed interest in expanding operations in the country.

In parallel, the government is promoting a draft Investment Law that would place two safeguards on any future nationalization or expropriation. Minister of Economy José Gabriel Espinoza said the measure would require congressional approval and immediate, full compensation for affected parties, addressing past unilateral nationalizations under former President Evo Morales that cost the state over $1.2 billion. The proposals are being consulted with industry groups before being submitted to parliament.