Weekly Report - 20 April 2004

BOLIVIA | Warning on oil & gas future. Bolivia may have received a lifeline in the form of greater demand for its gas caused by the power crisis in Argentina, but according to the state oil company, YPFB, if it doesn't increase output it runs the risk of turning into an oil importer in 2006. YPFB's export manager, Roberto Cuadros, notes that Bolivia currently produces 41,000 barrels per day of oil and condensates, and that demand is at 36,500bpd and rising fast. If current trends remain unchanged, he says, by 2006 the country will find itself having to import 4,500bpd.

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