After Venezuela, Petrobras announces the possibility of investing in Bolivia

The president of Petrobras, Jean Paul Prates, announced this weekend that the state-owned company is considering investing in Bolivia’s infrastructure for the exploration and production of oil and gas. The intention comes days after the executive stated that he is also analyzing the possibility of doing the same in Venezuela, which recently had the temporary suspension of sanctions imposed by the United States.

Prates said that a team of employees from the Brazilian state-owned company ended a visit to Bolivia this Sunday (22), and that topics related to the supply of natural gas to Brazil were discussed with the Bolivian Ministry of Hydrocarbons and Energy.

“Our team of technicians finalized today [domingo,
22] a successful mission to Bolivia. Issues relating to the supply of natural gas to Brazil were discussed and, mainly, conditions for new investments in oil and gas exploration and production in the neighboring country with which we have a historical relationship and an important connection infrastructure such as GasBol”, stated Prates on the social networks.

In addition to discussions on natural gas, oil and energy, the Petrobras team visited the production of YLB (Empresa Publica Nacional Estratégica de Yacimientos de Lítio Bolivianos S/A) in Potosi.

Prates emphasized that a gradual rapprochement between Brazil and Bolivia is underway, with expectations of new developments in the short term. He highlighted the importance of mutual and progressive construction of partnerships in the sectors of natural gas, fertilizers, renewable energy and critical minerals, such as lithium.

“The evolution of these initial rapprochement negotiations between the two countries (and their respective state-owned companies) both in the natural gas and fertilizer segments, as well as in renewable energy and critical minerals such as lithium, will occur in a mutual and gradually constructive way”, he said, highlighting the “reconstruction of partnerships with our important neighboring country”.

Last week, Bolivia had its entry into Mercosur approved by the Chamber of Deputies. The text now goes to the Senate for analysis. To be accepted as a member of the bloc, Bolivia needs the agreement of all member countries (Brazil, Argentina, Paraguay and Uruguay), with the respective approval by their parliaments.