Contact l Sitemap

home industries issues reasearch weblog press

Home  » Industries » Energy

BOLIVIA: Bolivia Nationalizes Natural Gas Industry

The Associated Press
May 1st, 2006

President Evo Morales ordered soldiers to immediately occupy Bolivia's natural gas fields Monday and threatened to evict foreign companies unless they sign new contracts within six months giving Bolivia majority control over the entire chain of production.

Morales said soldiers and engineers with Bolivia's state-owned oil company would be sent to installations operated by foreign petroleum companies.

''The time has come, the awaited day, a historic day in which Bolivia retakes absolute control of our natural resources,'' Morales said in a speech from the San Alberto petroleum field in southern Bolivia to decree what he called a nationalization of the natural gas industry. The field is operated by Brazil's Petroleo Brasileiro SA in association with the Spanish-Argentine Repsol YPF SA and France's Total SA.

Bolivia has South America's second largest natural gas reserves after Venezuela, and all foreign companies must turn over most production control to Bolivia's cash-strapped state-owned oil company, Yacimientos Petroliferos Fiscales Bolivianos, Morales said.





This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.