Bolivia gives details YPFB privatisation

Jul 13, 1999 02:00 AM

Bolivia's Energy & Hydrocarbons Secretariat has disclosed details of the 6 units of state oil company YPFB slated for privatisation this year. They are: fuel storing facilities and multi-purpose pipelines, gas distribution grids, LPG bottling plants, service stations, airport fuel terminals and refineries.
YPFB will sell 24 fuel storage plants with a total capacity of 88,953 cm, 44 % for diesel, 55 % for gasoline and 1 % to other fuel types.
The company's 1,278 km of multipurpose pipelines are also up for sale. The pipelines transport some 33,000 bpd and are divided into 7 separate sections: Cochabamba-Oruro-La Paz; Cochabamba- Puerto Villarroel; Santa Cruz-Potosi; Camiri-Santa Cruz; Santa Cruz-Choretey; Villamontes-Tarija; and Palmasola-Viru Viru.
The government said YPFB will sell its stake in 4 gas distributors: Emcogas (serving 683 clients in Cochabamba city); Sergas (742 customers in Santa Cruz); Emtagas (2,842 clients in Tarija and nearby Bermejo, Yacuiba, Villamontes and Pocitos); and Emdigas (777 clients in Sucre).
Of the total amount of clients, 77 % are residential, 14 % industrial and 9 % commercial. Some 1.2 mm cfpd of gas is distributed, 84 % to industrial clients, 10 % to residential and 5 % to the commercial customers.

YPFB will sell off all of its 26 LPG bottling facilities. Last year the company sold some 8,400 bpd of LPG (some 3 mm barrels per year).
With regards retail fuel assets, the company controls 69 service stations throughout the country, and sold 1.13 bn litres in 1998, 57 % in gasoline, 40 % in diesel and 3 % in kerosene and other derivatives.
YPFB also controls fuel storage terminals in the Viru-Viru airport, Santa Cruz, and the Jorge Wilstermann airport in Cochabamba. These facilities brought in $ 44 mm in 1998 from jet fuel and Avgas100 fuel sales. Viru Viru accounted for 61 % of the total, while El Alto in La Paz represented 18 %. The remaining 21 % is divided among the country's other airports.

Regarding refineries, YPFB will sell 2of its 3 plants: Gualberto Villarroel in Cochabamba and Guillermo Elder Bell in Santa Cruz. Gualberto Villarroel processes 17,357 bpd and Guillermo Elder 15,911. Offers for the refineries will be opened September 8 and the property transfer is expected to take place in December, a YPFB source said. The other assets will be sold off this year but definitive dates are yet to be set, a ministerial spokesperson told. The government expects the 2 refineries to generate $ 95 mm, YPFB operational advisor Mario Pena told BNA, adding that minimum investment requirements could exceed $ 60 mm.

The privatisation process will leave YPFB only the New Businesses & Contract Negotiation Division, lowering the company's workforce from 1,600 to 300. The Division will oversee all shared-risk contracts, concessions and license tendering processes and will preside over the committee in charge of allocating gas export quotas to Brazil.

Source: IINX via Iinoil
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