Bolivia to invest $279M in biodiesel production for domestic consumption

In Bolivia, Mercopress reports the government has decided to revitalize its petrochemical industry by converting some of it to biodiesel production instead. The first conversion will be $279 million investment at one of its state-owned oil refineries, producing 12,000 barrels per day of waste-based and soy-based biodiesel from 2024 for domestic consumption. Currently the country spends upwards of $1.2 billion annually on diesel imports but the shift to biodiesel and eventually renewable diesel will help to offset those imports and FX expenditure.

Category: Policy