In response to the challenging situation Bolivia’s energy sector is currently facing, ISI Oilfield Chemicals carried out a technical and commercial visit to Santa Cruz de la Sierra. The objective was to strengthen support for our key clients, jointly assess the progress of ongoing projects, and ensure the efficient supply of critical inputs for upstream operations.
Bolivia has been experiencing a fuel supply crisis for over a year. The shortages of diesel and gasoline—exacerbated by a lack of foreign currency to import hydrocarbons—have had a direct impact on various productive and industrial sectors.
This crisis has resulted in a steady decline in natural gas production since 2014, which has affected export revenues and weakened fiscal reserves. In 2023, foreign exchange restrictions further deteriorated the economic outlook, giving rise to a parallel currency market where the U.S. dollar has been trading at nearly twice the official exchange rate.
From our standpoint, we remain confident in a prompt recovery of Bolivia’s energy sector. We will continue to provide support through specialized chemical solutions since that is the way to encourage the development of new projects that can revitalize the industry.
As we have consistently done in recent years, our international visits—particularly our continued presence in Bolivia—reflect ISI’s commitment to staying close to our clients, engaging in active listening, and building long-term relationships, even in challenging circumstances.