Can we dream of a future where YPFB expands into Africa or Asia?

Can we dream of a future where YPFB expands into Africa or Asia?

Comparte el artículo

Many parents dream of seeing their children take flight after completing their studies. As a father, I am delighted to support my son Santi in every way possible—whether he needs resources for a private venture or still wants to live at home after turning 30, I am happy to assist. One always wants to protect one’s children indefinitely. However, this balance is unsustainable since I will eventually leave this world while Santi continues living in it. Therefore, I want him to secure resources independently and, ideally, work on a global scale, as that is his market. In simpler terms, I envision a corporatized and internationalized Santi.

A corporatized Santi could access resources from international capital markets rather than relying solely on his father’s allowance. An internationalized Santi could attract clients worldwide rather than limiting himself to local customers.

I believe these aspirations also apply to Bolivia’s state oil company, YPFB.

A genuine corporatization of a state-owned enterprise occurs when it can access financing from international capital markets. This means its investments are not financed by the Central Bank, the Ministry of Economy, past profits, or the goodwill of other state companies. Why is this desirable? Because state resources are generally limited and should be allocated efficiently, often to essential sectors like health and education. Simply put, it is preferable for the national budget to allocate $100 million to education rather than to a gas well that might or might not yield results.

Moreover, when a state-owned company internationalizes, its gas reserves are no longer confined to the country, and its primary consumers extend beyond neighboring nations. Imagine YPFB participating in exploration and production bids in Africa and, if successful, selling the discovered gas to European countries. Wouldn’t it be remarkable for YPFB to achieve this level of internationalization?

Securing financing in global capital markets, winning exploration contracts abroad, and opening markets beyond the continent is challenging. It requires extensive institutional, legal, economic, and financial restructuring. But even more critically, from my perspective, it demands monumental political will.

Beyond enacting a legal framework to enable such achievements, it must be embedded in a national project, ensuring YPFB’s strategic direction remains unchanged despite government transitions. This is akin to Bolivia’s successful natural gas export project to Brazil.

Some readers may now be raising their eyebrows, questioning my apparent naivety. They might be right, and my words may seem idealistic for my age. However, I hold on to the hope that a young person might read these lines and feel inspired, believing in this vision, showing the courage to pursue it, the patience to drive necessary political changes, the skill to persuade others, and ultimately, identifying with the diamond emblem.

I share this utopia because, from my perspective, these dreams can steer us away from the dystopia that looms ever closer.

S. Mauricio Medinaceli Monrroy

La Paz

September 21, 2022

1 Comment
  • Jorge Márquez Ostria
    Posted at 13:52h, 06 January Reply

    Si compartiste esta utopía el 2022, con mayor razón, deberías sustentarla ahora, a inicios del 2025, ya que YPFB tiene una enorme información y geocientitas experimentados en el Subandino Sur, que fácilmente pueden y tienen los conocimientos necesarios, para desarrollar prospectos en el NOA y así, atender está zona del Norte Argentino, que está siendo innorada por el boom de Vaca Muerta. La mayor riqueza de una corporación es su gente especializada, ya que la tecnología de punta se la puede adquirir, adaptar y mejorar con conocimiento y experiencia..

Post A Comment