Bolivia Aims to Restructure YPFB

Bolivia's government aims to restructure state oil firm YPFB in order to make the company "efficient, agile, transparent," government news agency ABI quoted YPFB president Juan Carlos Ortiz as saying.

The plan calls for the company to have an executive president, a CEO, a board and seven national managers. The strategy is to make the company "socially controlled," Ortiz said.

Specifically, the country's hydrocarbons minister would preside over the board, which would be comprised of a representative from each of the hydrocarbons-producing departments as well as one representative each from the national defense ministry, the hydrocarbons ministry, the development planning ministry and the presidential ministry.

The seven national managers would oversee E&P, transport and storage, refining, industrialization and petrochemicals, distribution, business and investments and legal and administrative issues.

Government's economic policy committee Conape is reviewing the restructuring project, which will go to congress in the next few days, ABI reported.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.