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.

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.

All its subsidiaries operate as private companies, most of which trade on the Bolivian Stock Exchange, but YPFB and the government has effective control over them.