Director of Hydrocarbons in Tarija: YPFB lacks funds for investment and is on the brink of bankruptcy

 Freddy Castrillo, the Director of Hydrocarbons for the Tarija Department, stated that Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) does not have the resources to invest in exploration and is on the verge of bankruptcy.

"YPFB is a company that is totally, I won't say bankrupt, but is on the edge of reaching that situation because it lacks the resources to invest, especially in exploration, and to reverse the current situation," Castrillo affirmed.

At the end of August, the President of the State, Luis Arce, stated that the production of natural gas had "hit rock bottom" since 2014, resulting in a lower income from the sale of the fuel.

Last week, the acting director of the Central Bank of Bolivia, Edwin Rojas, admitted that the Net International Reserves had fallen to their lowest level in decades, and one of the factors is the decline in income from the export and sale of gas.

According to the Director of Hydrocarbons for the Tarija Department, to reverse the situation, it is necessary to attract foreign investments, but before that, it is essential to adjust the regulatory framework to make investing in Bolivia appealing.