Bolivia YPFB conducts feasibility study for diesel plant

22 March 2013 22:17  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Bolivia's Yacimientos Petroliferos Fiscales Bolivianos (YPFB) has begun a preliminary feasibility study for a gas-to-liquids (GTL) plant that could reduce the country's dependence on diesel imports, the company said on Friday.

The study is focusing on the technical and financial viability of producing diesel from natural gas, YPFB said.

The company did not provide a timeline for the completion of the study.

According to the head of YPFB Transport, Fernando Vincenti, Bolivia currently imports more than half of its domestic diesel requirements.

“We don’t have the [current] capability to produce more diesel, and unfortunately our deficit is growing,” Vincenti told a local radio station. “We have no other option but to import.”

Earlier, Bolivia’s finance minister Luis Arce revealed that 88% of the country’s debt with Venezuela, or $146m (€112m), was due to diesel imports.

Acre was responding to opposition claims that the country’s total debt with Venezuela could be as high as $7bn.

($1 = €0.77)

By: Simon West

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