South America / GoM

Bolivia flag
Summary | Profile

Country profile: Bolivia

Location: Central South America, southwest of Brazil
Climate: varies with altitude; humid and tropical to cold and semiarid
Terrain: rugged Andes Mountains with a highland plateau (Altiplano), hills, lowland plains of the Amazon Basin
Size: 1098580 sq. km total (Land area: 1084390 sq. km  Water area: 14190
Population: 9,247,816 (July 2008 est.)
Languages: Spanish (official), Quechua (official), Aymara (official)
Government: republic
Capital city: La Paz
Legal system: based on Spanish law and Napoleonic Code; has not accepted compulsory ICJ jurisdiction
Currency: boliviano (BOB)

Country profile

Bolivia has the second-largest proven natural gas reserves in South America behind Venezuela (see chart in Natural Gas section). The country’s most important exports are natural gas, minerals, and agricultural products. Earnings from natural gas exports are an important driver of Bolivia’s economic growth. In May 2006, President Evo Morales embarked on a campaign of resource nationalism, including the re-nationalization of all hydrocarbon resources and the renegotiation of export contracts with Argentina and Brazil. The impact of this campaign remains unclear: in the short-term, Bolivia has been able to secure higher prices for its natural gas exports, but foreign investment has been slow to recover to its former levels.

Energy production and consumption

Oil Gas
Production: 41,570 bbl/day (2007 est.) 12 billion cu m (2006 est.)
Consumption: 31,500 bbl/day (2007 est.) 1 billion cu m (2006 est.)
Exports: 18,500 bbl/day (2007 est.) 10 billion cu m (2006 est.)
Imports: 8,600 bbl/day (2007 est.)  
Reserves: 440 million bbl (1 January 2006 est.) 651 billion cu m (1 January 2006 est.)
Major fields:

Bolivia - recent news

03 Apr 24
Brazil: Corio and Prumo sign MOU to develop offshore wind at Port of Acu
Global offshore wind developer Corio Generation and Brazilian port developer Prumo have signed a Memorandum of Understanding (MOU) to explore using the Port of Açu, north of Rio de Janeiro, for the deployment of Corio’s future offshore wind projects – expected to be among the first wave of offshore wind farms built in Brazil.
25 Mar 24
Brazil: Petrobras acquires international certificates that guarantee the 100% renewable origin of the electricity used in its operations
For the second year running, Petrobras neutralizes 'scope 2' emissions associated with energy consumption purchased from suppliers in Brazil. Petrobras has acquired international certificates attesting that 100% of the electricity used in its industrial and administrative operations in Brazil last year was generated from renewable sources.
11 Mar 24
Brazil: Equinor starts production at the Mendubim solar plant in Brazil
The 531 MW Mendubim solar plant in Brazil has come into operation. This marks a 30% increase in Equinor’s equity power production in Brazil. Mendubim will annually produce 1.2 TWh of power.
08 Jan 21
Bolivia: Echo Energy signs cooperation agreement with GTL International
Echo Energy, the Latin American focused energy company, has signed a cooperation agreement with GTL International, a majority owned subsidiary of the Bolivian company UruboCorp focussed on energy production and supply in Bolivia and with interests in both the hydrocarbon and renewables sectors.
15 Oct 18
Bolivia: Echo Energy signs Technical Evaluation Agreement with YPFB for the Rio Salado Block
Echo Energy has announced the signature of a Technical Evaluation Agreement (TEA) for the Rio Salado Block, onshore Bolivia, directly between Echo Energy and YPFB.

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