Bolivia switches to Argus for oil pricing

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Apr 24, 2024, 06:44 ET

HOUSTON, April 24, 2024 /PRNewswire/ -- Bolivian state-owned oil company YPFB has switched to global energy and commodity price reporting agency Argus as the basis for pricing imported supplies of crude and petroleum products.

YPFB is responsible for all of Bolivia's motor fuel imports, which amount to around 40,000 b/d. Bolivia is highly dependent on imports, which fulfil about two-thirds of local demand.

YPFB will issue tenders to buy crude, diesel, gasoline and naphtha using Argus US Gulf coast prices as the contractual reference. Most oil imports to Bolivia come from the US Gulf coast, so pricing based on this region accurately reflects real supply and demand fundamentals.

Argus Media chairman and chief executive Adrian Binks said: "We are delighted that YPFB has chosen to rely on Argus prices. Over the past decade we have greatly improved Argus' representation in and coverage of markets in South America, which are growing, dynamic and increasingly important in world terms."

Argus contact information

London: Seana Lanigan
+44 20 7780 4200
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Houston: Matt Oatway
+1 713 968 0000
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Singapore: Tomoko Hashimoto
+65 6496 9960
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About Argus Media

Argus is the leading independent provider of market intelligence to the global energy and commodity markets. We offer essential price assessments, news, analytics, consulting services, data science tools and industry conferences to illuminate complex and opaque commodity markets.

Headquartered in London with over 1,400 staff, Argus is an independent media organisation with 30 offices in the world's principal commodity trading hubs.

Companies, trading firms and governments in 160 countries around the world trust Argus data to make decisions, analyse situations, manage risk, facilitate trading and for long-term planning. Argus prices are used as trusted benchmarks around the world for pricing transportation, commodities and energy.

Founded in 1970, Argus remains a privately held UK-registered company owned by employee shareholders and global growth equity firm General Atlantic.

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