Petrobras plans $18 billion gas development

Bolivia President Evo Morales’s decision May 1 to take control of the country’s oil and gas fields has prompted Brazil to seek alternate gas suppliers. Brazil’s state-owned Petroleo Brasileiro SA (Petrobras) is revising its domestic and international investment plans. Half of Brazil’s gas needs are met by Bolivian exports.The Brazilian company is negotiating with Bolivia on how much Morales’s government might pay for the control of Petrobras’ production, refining, and distribution assets in the country, said Nestor Cerveró, director of the company’s international affairs.Simultaneously, talks are continuing with Bolivia over an increase in ...

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