No compensation for energy firms-Bolivia's Morales
VIENNA
Companies affected by Bolivia's nationalisation of the energy sector have no right to compensation if they have recouped their investments, President Evo Morales said on Thursday.
Left-winger Morales, who announced the nationalisation of the country's energy industry on May 1, said ahead of a summit of Latin American and European leaders in Vienna that there was no reason for Bolivia to consult other countries over the move.
He also told a news conference that Brazilian company Petrobras (PETR4.SA: Quote, Profile, Research) (PBR.N: Quote, Profile, Research) was operating in an "illegal" and "unconstitutional" manner in Bolivia.
Companies affected by Bolivia's nationalisation of the energy sector have no right to compensation if they have recouped their investments, President Evo Morales said on Thursday.
Left-winger Morales, who announced the nationalisation of the country's energy industry on May 1, said ahead of a summit of Latin American and European leaders in Vienna that there was no reason for Bolivia to consult other countries over the move.
He also told a news conference that Brazilian company Petrobras (PETR4.SA: Quote, Profile, Research) (PBR.N: Quote, Profile, Research) was operating in an "illegal" and "unconstitutional" manner in Bolivia.
posted by Alice at
Thursday, May 11, 2006
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home