Bolivia Takes Control of State Oil Firm as Fuel Queues Deepen

Bolivia has placed its state oil company, YPFB, under temporary government intervention as persistent petrol and diesel shortages leave motorists facing long queues at filling stations. President Rodrigo Paz approved the measure under Supreme Decree 5697. A multi-ministry commission will oversee fuel imports, logistics, distribution and sales for up to 180 days, with a possible 90-day extension. Authorities say the intervention will also investigate alleged fuel diversion, stockpiling and smuggling. Bolivia imports about 60 per cent of its petrol and roughly 95 per cent of its diesel, at an estimated cost of $90 million weekly. The government says the action does not dissolve YPFB or remove its executive leadership, but aims to restore reliable fuel supplies and reduce the queues affecting motorists.

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