Bolivia

Bolivia has vast reserves of natural gas and oil. It has the second largest natural gas reserves in South America after Venezuela. Energy sector of Bolivia was privatized in mid 1990s, however, in May 2006, the Bolivian government decided to re-nationalize its energy sector by giving back all the exploration and production right to state owned company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) and renegotiating the export contracts with Argentina and Brazil.

Bolivia is one of major exporters of natural gas in South America. Bolivia’s natural gas exports are an important driver in Bolivia’s overall growth. The country has been able to secure higher prices for its natural gas exports since the nationalization campaign.

 

(from GlobalData)