Bolivia will import 1.6 million bbl of crude oil, to be delivered via eight vessels scheduled to arrive at the Arica terminal in Chile throughout the year, according to Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) president Armin Dorgathen Tapia. In recent months, Bolivia has faced fuel supply issues, prompting imports, initially from Argentina.
The first crude oil vessel, originating in Argentina with a contracted volume of 150,000 bbl, arrived in early March at the Sica Sica maritime terminal managed by YPFB. Subsequent arrivals are expected to begin in April.
The crude oil is stored in tanks at YPFB's Arica land terminal and will be dispatched to the state oil company's refineries for processing.
Álvaro Ríos Roca, managing partner of Gas Energy Latin America and former Minister of Hydrocarbons of Bolivia, said the import indicates Bolivia’s embarkment “on a path of absolute energy dependence on Argentina.” He emphasized potential future imports of diesel, gasoline, and LPG, depending on Argentina's refining capacity and Bolivia's production curve.
Bolivia will cease gas exports to Argentina in June due to contract expiration, as confirmed by Franklin Molina, Bolivian Minister of Hydrocarbons and Energy (OGJ Online, Nov. 10, 2020). Argentina currently purchases an average 4.5 million cu m/day. Brazil, according to YPFB data, received exports of 14 million cu m/day.
Andrés Armijos, Head of Latin America at Welligence Energy Analytics, agreed with Ríos Roca's assessment. "We have seen a constant decline in assets since 2014, particularly in gas." YPFB has had a drilling plan since 2021 to replenish reserves, but no results have been seen, Armijos said.