Bolivia Hydrocarbons Industry Sees Record Investment, YPFB Says

[Judi Lynn]

Bolivia Hydrocarbons Industry Sees Record Investment, YPFB Says
December 01, 2011, 6:48 PM EST

By Sara Shahriari

Dec. 1 (Bloomberg) -- Investment in Bolivia’s hydrocarbons industry reached record levels in 2011, according to state-owned oil and natural-gas company Yacimientos Petroliferos Fiscales Bolivianos.

Investment reached $1.05 billion for the year through November, the company, known as YPFB, said in an e-mailed statement today. YPFB and its subsidiaries invested $647 million while companies holding operating contracts with the state spent $400 million, according to the statement.

Investment in the sector has more than quadrupled since 2005, when it was $247 million, according to YPFB. The tally includes money spent on refineries as well as exploration and development of oil and gas fields.

Bolivia’s proven gas reserves fell to 9.94 trillion cubic feet, YPFB said in an April 8 statement. That’s a 60 percent decline from the 25.1 trillion cubic feet estimate of BP Plc’s statistical review. Bolivia has proven oil reserves of 465 million barrels, according to the U.S. Energy Information Administration.

More:
http://www.businessweek.com/news/2011-12-01/bolivia-hydrocarbons-industry-sees-record-investment-ypfb-says.html

[Peace Patriot]

1. Somebody unrec'd this. Apparently they don't want others to know that...

...Evo Morales' nationalization of Bolivia's hydrocarbons has led, not to loss of investors--as Wall Street's asshole prognosticators would have it--but rather to a big investment boom that is benefiting Bolivians as well as the investors.

Bolivia is one of the fastest recovering economies in Latin America--because of leftist government, leftist pro-people policies, social programs, democratic government control of important resources and the help and cooperation of other leftist governments in the region.

Eat that, Wall Street!