Page "Economy of Bolivia" Paragraph 27

Until recently the country's oil industry was fully controlled by the state company YPFB, established in 1936 with the mission to develop, refine and distribute oil resources.

After privatization efforts in the 1990s the transport of natural gas and oil was in private hands during the 1990s while the production and refining of materials was part of risk-sharing contracts between the government and private investors.

In 1999 the refinaries were also completely privatized.

In May 2006 president Evo Morales re-nationalized reserves, while its exploitation remained in private hands.