Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) is a Bolivian state-owned enterprise dedicated to the exploration, exploitation, refining, industrialization, distribution and commercialization of oil, natural gas and derived products. It was created on December 21, 1936 under a government decree during the presidency of David Toro. YPFB is one of the biggest corporations in Bolivia.[1][2]
History
Following Bolivia's defeat in the Chaco War, public outrage against Standard Oil coalesced with outrage against the Bolivian military and political classes. A core of labor movements and Chaco War veterans backed the political rise of military officers, included Colonel David Toro. Led by Toro, Bolivia followed the Argentinean model by creating a national, state-owned and run, oil company in 1936 — YPFB.[3]
During the first presidency of Gonzalo Sánchez de Lozada, YPFB was broken up and largely sold off. "Capitalized" oil companies were formed from YPFB properties under the capitalization (