OGJ Newsletter

05/08/2006
General Interest - Quick TakesnullBolivia nationalizes oil and gas industryBolivian President Evo Morales decreed the nationalization of gas and oil industries on May 1, dispatching troops to oil and gas fields, refineries, and strategic points along pipeline routes. He made the announcement at San Alberto gas field, operated by Brazil’s state-owned Petroleo Brasileiro SA (Petrobras) in the southeast of the country.All companies were told to turn production over to the state’s Yacimientos Petroliferos Fiscales Bolivianos (YPFB). Morales threatened to evict foreign companies unless they agreed to surrender ownership to the state within 6 months.YPFB once produced the country&rs...
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