Bolivia nationalises natural gas industry
LONDON
President Evo Morales has issued a decree formalising a government takeover of Bolivia''s natural gas industry, the latest in a series of moves to nationalize the country''s energy sector.
Morales, who assumed office nearly one year ago, in May had set a six-month deadline in May for an ambitious nationalization of oil and gas resources to recoup energy revenues.
Bolivia holds the second-largest South American natural gas reserves after Venezuela, and over 26 foreign groups -- including ExxonMobil, BG Group, Total, Repsol and Petrobras -- have interests in the country.
President Evo Morales has issued a decree formalising a government takeover of Bolivia''s natural gas industry, the latest in a series of moves to nationalize the country''s energy sector.
Morales, who assumed office nearly one year ago, in May had set a six-month deadline in May for an ambitious nationalization of oil and gas resources to recoup energy revenues.
Bolivia holds the second-largest South American natural gas reserves after Venezuela, and over 26 foreign groups -- including ExxonMobil, BG Group, Total, Repsol and Petrobras -- have interests in the country.
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Sunday, December 03, 2006
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