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LatinNews Daily - 28 March 2019

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In brief: Bolivia

* Brazil’s state-run oil company Petrobras has issued Bolivia’s state-owned oil company (YPFB) with a fine for failing to meet Brazilian demand for liquified natural gas (LNG) in 2018 and thus violating the terms of a contract between the two companies. The size of the fine was not disclosed. In an official press release, YPFB’s vice president of national operations, Gonzalo Saavedra, said that he intends to renegotiate the agreement to avoid further sanctions and to come to a resolution that is mutually beneficial. As it stands, failure to supply Brazil’s demand is due to “the amount ordered going from extreme to extreme in a very short space of time, for example, one day they request 31m cubic metres and then immediately reduce that to 12m”.