In the context of the current government’s reform process…###

In the context of the current government’s reform process, YPFB Corporación plays a key role in the sector’s liberalization dynamics, alongside a competitive environment that can enhance its performance, stated Pedro Miras Salamanca.

EDITION 152 | 2026

ENERGÍABolivia

The President of the World Petroleum Council (WPC Energy), Pedro Miras Salamanca, highlighted the essential role of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) in the adjustment process being promoted by the Bolivian government in the fuel sector. The international authority visited the state-owned company’s offices in Santa Cruz, where he held a meeting with the National Vice President of Operations, Sebastián Daroca.

Miras, invited to the country by ENERGÍABolivia magazine, stated that national oil companies often play a key role in energy sector transformation processes. “YPFB has an essential role, as has been the case in many other countries when the sector was liberalized. The important role of the national company must be preserved, while at the same time opening the market to competition,” he said, recommending that sector development combine the strength of the state-owned company with a competitive environment that contributes to improving its performance. .

“…the release of reserves announced by the International Energy Agency and decisions taken by the United States contribute to stabilizing the market…”

PRICES BELOW HISTORICAL LEVELS

Regarding fuel subsidies, the head of the international organization stated that prices should tend to reflect international market conditions. “If a product has a value in international markets and is subsidized, someone always pays the price differential. Therefore, the reasonable path is to move toward prices that are as closely aligned as possible with international realities,” he noted.

When asked about the impact of the Middle East conflict on the global energy market, Miras explained that the situation is generating supply tensions and has pushed oil prices upward, although still below what might historically have been expected under similar circumstances..

He added that measures such as the release of reserves announced by the International Energy Agency, along with decisions taken by the United States, are helping to stabilize the market. However, he warned that an escalation of the conflict could trigger further increases in international prices.

Pedro Miras Salamanca also paid a courtesy visit to YPFB Corporación’s offices, where he exchanged views with company executives and Tatiana Genuzio, Vice Minister of Industrialization, Commercialization, Transport, and Storage of Hydrocarbons at the Ministry of Hydrocarbons and Energy.

“If a product has a value in international markets and is subsidized, someone always pays the price differential…”