Bolivian government will strengthen state oil company that promotes NGV

January 4, 2019. The President of Bolivia, Evo Morales, will invest some 9.500 million dollars for the strengthening of the state company Yacimientos Petrolíferos Fiscales Bolivianos (YPFB).

   Morales referred to the oil rent, which in 2005 was 674 million dollars while in 2018 it reached 2.200 million dollars, despite the low prices of raw materials in the international market.

   The head of state stressed that YPFB's assets rose from 100 million to 15 billion dollars, as part of the process of change in Bolivia, promoted by his government since 2006.

   Likewise, the number of workers in that company increased from 500 to 5.000, and the export of liquefied petroleum gas and urea was explored.

   Last year, YPFB benefited nearly five million people with home gas, while in 2005 only 48.000 families had that service, the Bolivian leader explained.

   In addition, he noted that the vehicles whose operation is with natural gas increased from 38.000 units in 2005 to 351.000 today.

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