INSUBCONTINENT EXCLUSIVE:
amid a severe fuel shortage
This push for foreign aid and investment comes in the wake of a failed military coup, revealing deep-seated economic issues.Years of
declining oil and gas production have led to a significant economic downturn in Bolivia.This drop has drastically reduced export revenue and
driven away investors.Gas output has halved from its peak a decade ago
Oil production has reached its lowest point since the 1990s.Bolivia Turns to Russia Amid Energy Crisis
(Photo Internet reproduction)The decline in national oil and gas production has led to frequent protests
People express frustration over the lack of dollars and long lines at gas stations.These issues have fueled tensions within the ruling
socialist party MAS, causing conflicts between President Luis Arce and former leader Evo Morales.Bolivia Turns to Russia Amid Energy
CrisisThe immediate energy crisis is a gasoline shortage, worsened by costly imports
Bolivia imports half of its gasoline to meet domestic demand, costing about $800 million annually.The country is turning to more direct,
lower-cost purchases from producers within the Organization of the Petroleum Exporting Countries (OPEC) through its new state energy trading
Bolivia is also seeking aid from Russia, a member of OPEC+, to facilitate fuel supplies.On June 19, Russian company Lukoil delivered 366,000
aim to stabilize its energy sector.Recently, Russia and Bolivia have discussed enhancing cooperation in various sectors, including energy,
