YPFB Outlines New Organizational Structure

Bolivia's state oil company YPFB is restructuring to take on an operative role rather than an administrative one, newspaper Correo del Sur reported.

As a result, YPFB will be made up of at least five subsidiaries and three public-private companies.

The subsidiaries will include YPFB Exploracion, YPFB Produccion, YPFB Transporte and YPFB Refinacion, the paper quoted company president Jorge Alvarado as saying.

YPFB initially will associate itself with oil companies Andina and Chaco exploration and with pipeline firm Transredes to transport natural gas and oil.

Further, YPFB will work with Venezuela's state oil company PDVSA, Bolivian natural gas company GTL Bolivia, US-based Franklin Oil & Gas and Argentina's state oil firm Enarsa to develop industrialization plans.

YPFB's role since 1997 was to regulate the activities of the 22 oil companies operating in the country but this changed when President Evo Morales nationalized the hydrocarbons sector in May this year.

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