Evo Has Last Word on Hydrocarbons

La Paz
Apr 14
Nationalization of hydrocarbons in Bolivia -precluding expropriation measures- is counting down to the final decision of President Evo Morales.

Hydrocarbon Minister Andres Soliz, who handed Morales the nationalization decree on Thursday and expects a decision in a few hours, said this is one of the measures he spearheaded in the election race that propelled him into the presidency with an overwhelming win.

Details of the nationalization decree are still secret, and the government intends not to discuss it with oil multinationals, according to Soliz, who asserted the decree will change the law, so that the State regains control of gas and oil production.

El Alto municipality leader Roberto de la Cruz also submitted a decree to Morales, requesting confiscation of properties belonging to oil conglomerates.

Morales has vowed that property of the firms will not be confiscated and the nationalization process will simply ensure State control over the oil and gas fields, industry and trade.

The new decree envisages reactivation of State-run Yacimientos Petroliferos Fiscales Bolivianos (Bolivian Fiscal Oilfields), currently engaged in administrative work, given the privatization policy benefiting transnationals in the past decade.

On the recent resignation of Hydrocarbon Department Chief Hugo de la Fuente, Soliz said it furthered plans to reenergize the sector.