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LatinNews Regional Monitor: Andean Group - 9 May 2019

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In brief: Bolivia

* Bolivia’s state-owned oil company YPFB has announced that it has signed two strategic agreements with its Argentine counterpart YPF, which express the interest of both countries in carrying out joint projects with regard to 1) exploration and production of hydrocarbons and 2) refining and trade of hydrocarbons. The first agreement establishes that YPF and YPFB will carry out a technical evaluation of the Madre de Dios river and develop a plan and work schemes that will enable both companies to focus their efforts in exploring the area, which spans the Bolivian departments of La Paz, Beni, and Pando. It also establishes that YPFB will analyse investment opportunities in oil fields operated by YPF in Argentina. The second agreement expresses both companies’ interest in being partners in areas that would permit the improvement of hydrocarbons supply in Bolivia. Among other things, under the same document, YPF offers to strengthen trade relations with YPFB, generating an economy of scale and competitive prices.