YPFB

Bolivia is running out of natural gas, its main source of income, due to a lack of investment in exploration for new reserves, a senior official has said.

Since 2014, the country has seen a decline in production, the president of state oil company YPFB, Armin Dorgathen, told reporters in the eastern city of Santa Cruz.

"There were not a lot of exploration projects," he added.

Bolivian President Luis Arce announced Saturday the discovery of major new reserves of natural gas that officials said could eventually bring in $260 million a year.