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Bolivia decrees foreigners may not export products

05/21/2007
Bolivia’s President Evo Morales has issued a decree that forbids Brazil’s state-owned Petroleo Brasileiro SA (Petrobras) and other foreign companies from exporting certain oil products.Henceforth only Bolivia’s state-owned Yacimientos Petroliferos Fiscales Bolivianos (YPFB) will be able to export oil products.As a result of the Morales decree, Petrobras offered to sell Bolivia 100% of its two refineries that Bolivia nationalized last year along with hydrocarbons resources (OGJ Online, May 2, 2006).Before Morales’ decree Petrobras was negotiating the sale of 70% of its refineries to Bolivia and expected to retain 30%.Bolivia had 2 days to respond to the May 7 sale o...
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