According to the Bolivian Institute of Foreign Trade (IBCE), Bolivia's gas production fell by 13% to 13.4 bcm, while oil production fell by 16% in 2023 to 8.6 Gbl, the lowest levels seen since 1993 (8.1 Gbl). According to the report, a sustained drop in crude oil production began in 2015 due to a natural depletion of wells. The report also highlights the Bolivian departments that produced the most during 2023, with Santa Cruz being the largest oil producer in the country with 3.6 mbl, closely followed by Tarija with 3.1 mbl, Chuquisaca with 1.5 mbl, and Cochabamba with 0.4 mbl. Last year, Bolivia produced more than 29 mbl of automotive gasoline, followed by diesel (13.5 mbl).
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) announced the direct import of 1.6 mbl of crude oil in 2024 through eight ships that will arrive at the Arica Terminal in Chile, which will allow savings equivalent to US$240m. The oil will be processed at the Guillermo Elder Bell refinery in Santa Cruz and the Gualberto Villarroel refinery in Cochabamba, which will allow for greater volumes of diesel, gasoline, LPG and other derivative products.
At the end of 2022 oil dominated Bolivia’s final consumption with a share of 57%, followed by natural gas (24%), electricity (10%), and biomass (9%).
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