Morales says foreign oil companies cannot be owners

Bolivian President Evo Morales said he welcomed foreign companies in the country as “partners,” but not owners, in a speech to members of the European Parliament last Monday. Conservative members did not attend the speech of the left-wing Morales, a move that was criticised by Spanish EU Parliament President Josep Borrell. Morales earlier this month nationalised his country’s natural gas and oil industries, sparking concern from the EU, which has a number of firms operating in the country. But last Monday, the Bolivian president said he would still welcome participation by foreign companies. “Bolivia has never banished anyone,” Deutsche-Presse-Agentur (dpa) quoted Morales as saying, adding that the nationalisation of the industry was necessary to more evenly spread wealth in the country. Bolivia has the second largest deposits of natural gas in Latin America, after Venezuela.