BOLIVIA · PETROBRAS
Key Facts
- Anniversary Petrobras, Brazil’s state-controlled oil company, has operated in Bolivia since 1996, so 2026 is its 30th year.
- Investment The company says it invested more than US$3.6 billion in its Bolivian business, directly and indirectly, from 1996 to 2024.
- Fields Petrobras’s main gas blocks and an exploration area lie in Tarija department, in southern Bolivia.
- Pipeline Petrobras financed the Bolivian section of the Bolivia-Brazil gas pipeline with almost US$400 million.
- Power Index Bolivia ranks 13th of 14 in The Rio Times Latin America Power Index, with 27.9 points (November 2026 edition).
Petrobras, Brazil’s state-controlled oil company, has operated in Bolivia since 1996, according to its company website, so 2026 is its 30th year. Its shares trade in New York as PBR, an American depositary receipt.
What We Know About Petrobras in Bolivia
The investment, pipeline and social-spending figures below are the company’s own, taken from its Bolivia web page. Our July report on Bolivian talks with Petrobras shows why the anniversary draws attention.
Petrobras says it invested more than US$3.6 billion between 1996 and 2024, directly and indirectly, across gas production, fuel supply and pipelines in Bolivia. More than US$1.8 billion of that was its own direct investment.
It also financed the Bolivian section of the Bolivia-Brazil gas pipeline, known as Gasbol, with almost US$400 million. The company says it produced about 60% of Bolivia’s gas at its peak, between 2007 and 2011.
Petrobras also reports 133 social projects since 1996, backed by more than US$22 million of voluntary spending. No new agreement or investment has been announced.
Where Petrobras Works Today
Petrobras lists San Alberto and Itaú among its Bolivian gas blocks, in Tarija department in southern Bolivia, and says it is exploring in San Telmo Norte. One Bolivian newspaper report from June 2026 put its share of national gas output at about 25%, which is not company data.
The company lists an exploratory well project called Domo Oso-X3. The company’s page gives no current share of Bolivian gas output.
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Why It Matters
Bolivia’s government has spent months courting Petrobras. In March 2026 Bolivian President Rodrigo Paz visited Brasília and met Brazilian President Luiz Inácio Lula da Silva.
On 30 June 2026 Lula wrote that the two leaders had decided to speed up negotiations for agreements between Petrobras and YPFB, Bolivia’s state energy company, on gas extraction. In July 2026 Bolivian reports said Petrobras had expressed interest in supporting the restructuring of YPFB.
Petrobras is also active elsewhere in the region, having signed a non-binding memorandum on the Gulf of Mexico with Pemex, Mexico’s state oil company. That memorandum creates no partnership or joint venture.
In Plain English
Petrobras is Brazil’s state-controlled oil company, and Petrobras Bolivia is its Bolivian business. YPFB is Bolivia’s state energy company, the partner any new gas deal would run through.
Gasbol is the Bolivia-Brazil gas pipeline that carries Bolivian gas across the border. PBR is the ADR, or American depositary receipt, a share of a foreign company that trades in New York in dollars.
What It Means for You
If you hold Petrobras through the PBR receipt or a Latin America fund, Bolivia is a small but visible part of the story. No new deal has been announced, so this signals intent rather than a financial event.
Anyone following Latin American energy can watch Bolivia’s gas policy, because gas is a long-standing link between Bolivia and Brazil. Our Bolivia news hub tracks each step.
What Is Not Known
We found no announcement of any event for the anniversary and no terms for any new agreement. We also found no new investment amounts.
We also do not know the exact current output of Petrobras in Bolivia. Those details would show how deep any renewed partnership goes.
Frequently Asked Questions
How long has Petrobras been in Bolivia?
Petrobras began operating in Bolivia in 1996, according to its website, so 2026 is its 30th year. No anniversary event has been confirmed.
How much of Bolivia’s gas does Petrobras produce?
One Bolivian newspaper report from June 2026 put the share at about 25%, down from a peak near 60%. The company’s own page gives no current share.
Has a new Petrobras and YPFB agreement been signed?
No new agreement has been announced. Lula wrote on 30 June 2026 that Brazil and Bolivia decided to speed up negotiations between Petrobras and YPFB.
Sources: Petrobras corporate website (petrobras.com.br/bolivia); public statements by Presidents Lula and Paz, March and June 2026; Bolivia’s energy ministry and Lula’s public statements, June and July 2026.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. How we use AI · Report an error