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

January 26, 2021 |

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.

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Category: Policy

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