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  HOME | Bolivia

Bolivia Reaps $752 Million in Payments from Energy Companies

LA PAZ – Bolivia’s revenues from different taxes and royalties paid by energy companies totaled $752.4 million between January and July, state-owned oil and gas company Yacimientos Petroliferos Fiscales Bolivianos, or YPFB, said.

During that period, the amount raised through the Direct Tax on Hydrocarbons totaled $306.8 million, while an additional $445.6 million was collected in the form of “royalty and participation” payments, YPFB said in a statement.

A total of $116.9 million was collected in July.

A dozen large multinational companies, including Spain’s Repsol YPF, Brazil’s Petrobras, British Gas and France’s Total operate in Bolivia.

The amount of revenue in the form of taxes and royalties rose with respect to 2009 due to an increase in natural gas exports to Argentina and Brazil during this year’s Southern Hemisphere winter, YPFB said.

Another factor contributing to higher hydrocarbons revenue for Bolivia was the quarterly adjustment in the prices of exported natural gas, which rose in keeping with higher international crude prices.

Hydrocarbons revenue, a main pillar of the Bolivian economy, was adversely affected by the global financial crisis of late 2008 and early 2009.

Regional and municipal governments invest those resources to build infrastructure, while President Evo Morales’s administration uses part of the money to provide subsidies for schools, pregnant women and the elderly. EFE
 

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