Morales Ratifies New Hydrocarbon Stage
La Paz
Dec 3
Bolivian President Evo Morales ratified on Sunday in this capital that the signing of 44 contracts with foreign oil companies, which became a law, marks a new stage in hydrocarbon industrialization.Bolivia Govt for Talk with Opposition
Morales signed on Sunday in Palacio Quemado the regulation that validates those agreements between state YPFB (Bolivian Oil Deposits) and 12 transnationals.
The head of State also explained that the signing of those contracts will allow the foreign companies counting on the necessary legal security that will help them increase their investments.
The contracts with oil companies will generate a $300-million annual income.
They will also favor a $1.5-billion investment between 2007 and 2010 to favor development of the prospect fields, according to the hydrocarbon ministry statistics.
In reference to his participation in the Africa-South America Summit in Nigeria, on November 30 and December 1, Morales stressed several African nations´ interest in establishing trade and diplomatic relations with La Paz.
He also announced a momentous meeting between Middle East and Latin American heads of State in 2007, opening bilateral trade and cooperation prospects, with great benefits for the Andean nation, he said.
Dec 3
Bolivian President Evo Morales ratified on Sunday in this capital that the signing of 44 contracts with foreign oil companies, which became a law, marks a new stage in hydrocarbon industrialization.Bolivia Govt for Talk with Opposition
Morales signed on Sunday in Palacio Quemado the regulation that validates those agreements between state YPFB (Bolivian Oil Deposits) and 12 transnationals.
The head of State also explained that the signing of those contracts will allow the foreign companies counting on the necessary legal security that will help them increase their investments.
The contracts with oil companies will generate a $300-million annual income.
They will also favor a $1.5-billion investment between 2007 and 2010 to favor development of the prospect fields, according to the hydrocarbon ministry statistics.
In reference to his participation in the Africa-South America Summit in Nigeria, on November 30 and December 1, Morales stressed several African nations´ interest in establishing trade and diplomatic relations with La Paz.
He also announced a momentous meeting between Middle East and Latin American heads of State in 2007, opening bilateral trade and cooperation prospects, with great benefits for the Andean nation, he said.
posted by Alice at
Sunday, December 03, 2006
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