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Bolivia oil revenues jumps from $4.5 billion to $36 billion, half goes to social projects

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Staff Writer | August 18, 2018
Bolivia oil
LatAm   $18 billion dollars were distributed among for social projects

The revenue of Bolivia from its oil production increased its profits, from $4.5 billion in 2006 to $36 billion at present, informed the Ministry of Hydrocarbons.

The Bolivian entity also documented that natural gas production doubled from 30 million cubic meters per day (MMmcd) in 2005 to over 60 MMmcd in 2017.

Over the last 12 years, Bolivia registered records in indicators of natural gas production and in income from oil for the state, thanks to the impact of hydrocarbon nationalization in 2006, refers an institutional bulletin.

The minister of this area, Luis Sanchez, said that from the $36 billion received by the state, $18 billion dollars were distributed among the governorships, the municipalities and universities for social projects.

As for gas production, he said it had doubled from 30 MMmcd to over 60 MMmcd, which allowed to increase the supply to the domestic market from 3 MMmcd in 2005 to an average of 12 to 13 MMmcd at present.

Sanchez recalled, quoted by the local media, that among the main impacts of the oil nationalization policy is to expands the coverage of gas home coverage at national level.

On the change of energy balance for vehicles he said in Bolivia there are over 380 thousand vehicles operating on natural gas, which contributes to care for the environment and represents a saving.


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