BOLIVIA INCREASES INVESTMENT IN NATIONAL OIL CORPORATION

LA PAZ, Jan 13 (NNN-PRENSA LATINA) – President Evo Morales said that the investment in Bolivian Fiscal Oilfields (YPFB) has rising to US$11 billion within five years taking the state’s entity to the level of other Latin American companies.

“I dream that our state oil company could be soon at the same level of the Venezuelan Oil Company (PDVSA) or the Brazilian Oil Company (PETROBRAS)”, he said during the presentation of YPFB’s investment plan for the period 2010-2015.

According to Morales, working with political will and love for the nation provides for investment in such projects.

Increasing the hydrocarbon production, consolidating and opening new markets for natural gas and beginning the industrialising stage are among YPFB’s priorities for the next five years, he said.

Morales regretted that during his first administration, the neoliberal opposition triggered actions affecting the development of the state oil company. —

Source: PRENSA LATINA

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