Editing Economy of Bolivia (section)

====Oil====
Bolivia has estimated oil reserves of {{convert|441|Moilbbl|m3}}, the fifth largest in South America.<ref name="loc" /> The fields are located in the east and south. The main activities in the refineries is crude oil fractioning, catalytic conversion for high octane gasoline, and refining of heavy fractions to produce lubricants. The final products are vehicle gasoline, liquid [[propane]] and [[butane]], jet fuel, [[diesel fuel|diesel]] oil and lubricants for use in industrial machinery. As domestic oil production is insufficient to meet domestic demand Bolivia is a net importer of oil.<ref name="cia">{{cite web|url=https://www.cia.gov/the-world-factbook/countries/bolivia/ |title=CIA World Fact Book|date=26 July 2022 }}</ref>

Until recently the country's oil industry was fully controlled by the state company [[YPFB]], established in 1936 with the mission to develop, refine and distribute oil resources. After [[privatization]] efforts in the 1990s the transport of natural gas and oil was in private hands during the 1990s while the production and refining of materials was part of risk-sharing contracts between the government and private investors. In 1999 the refineries were also completely privatized. In May 2006 president [[Evo Morales]] re-nationalized reserves, while its exploitation remained in private hands.
[[File:Petrobrasbolivia2006.jpg|thumb|Oil refinery plant in [[Cochabamba]] belonging to Brazilian state-owned company [[Petrobras]].]]