During last year, Bolivia's state oil company invested US$539.74 million in various activities in the hydrocarbon chain. Likewise, the Vice Minister of Exploration and Exploitation projects large income from the commercialization of lithium and potassium derivatives.
The state oil company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) announced that this year it will allocate US$363.72 million for the exploration and exploration of hydrocarbon areas in the highland country.
This amount represents 67% of the US$538.05 million budget contemplated for this year by the Headquarters and the subsidiaries of the state oil company.
The investment budget scheduled for 2024 establishes a total of $us 628.95 million. YPFB Headquarters plans to invest $us 276.79 million, the affiliated and subsidiary companies $us 261.26 million and the projection of the operating companies amounts to $us 90.90 million.
“This reflects a significant focus on the expansion and development of the hydrocarbon industry in the region, highlighting the strategic importance of this sector for the national economy,” said the Minister of Hydrocarbons and Energy, Franklin Molina.
THE PLAN
Since June 2021, YPFB began to execute the Upstream Reactivation Plan (PRU) with the purpose of restoring reserves and increasing hydrocarbon production. Likewise, through this plan, the Bolivian state oil company aspires to position itself as a leader in exploration and production in the country, surpassing any international competitor.
The state oil company reiterated that since 2015 it was required to undertake exploration work, which was not carried out, thus leaving a void in the replacement of natural gas reserves, which were being consumed by the demands of the domestic and export markets. .
During last year, YPFB invested US$539.74 million in various activities in the hydrocarbon chain, such as exploration, exploitation, distribution, transportation, plants and industrialization, refining, storage and marketing.
THE RISE IN LITHIUM AND POTASSIUM DERIVATIVES
On the other hand, the Vice Minister of Exploration and Exploitation of Hydrocarbons of Bolivia, Raúl Mayta, announced that the production of lithium carbonate and potassium chloride in 2023 marked record figures with respect to their historical periods.
The authority indicated that productivity at least tripled compared to the 2022 management.
Regarding the production of lithium carbonate, the best stage was between 2013 and 2020, according to data from the vice ministry in charge of Mayta. In 2023, the figure reached 948.5 metric tons.
“The best production was in the period between 2013 and 2020, with 355 metric tons of lithium carbonate in 2019, which means that we have produced three times (more),” Mayta explained.
In relation to the production of potassium chloride, last year 85,046 metric tons were recorded.
PRODUCTION
“As for potassium chloride, we have produced 85,046 metric tons. The best production was in 2019, when there were 26,819; Therefore, we are talking about between three to four times more,” said the vice minister.
Mayta asserted that, given these statistics, much higher marketing revenues are foreseen compared to what was seen during the same period (2013 to 2020).
SALES REVENUE IN 2023
The president of Yacimientos de Litio Bolivianos (YLB), Karla Calderón, announced in February of this year that the state-owned company obtained more than Bs 156.6 million in income (US$ 22.08 million) from sales of potassium chloride and lithium carbonate in 2023.
“In income, the state company obtained more than Bs 156.6 million (US$ 22.08 million) from the sale of products obtained from the salt flats. The sale of potassium chloride generated Bs 135.4 million (US$ 19.09 million) and Bs 19.9 million (US$ 2.8 million) for lithium carbonate; figure influenced by the fall in prices in the international market in 2023,” he indicated.
Likewise, he reported that lithium carbonate fell in price; However, he is confident that he will achieve stability in the future.
“We are refocusing the guidelines as a company towards the commercial field, with the diversification of products,” added Calderón.
