20070121-151533-Energy-deal-announced---Bolivia-retaking-control-of-its-resourc
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Energy deal announced - Bolivia retaking control of it's resourc

By Shannon at 01/21/07 15:15

Last May President Evo Morales nationalized the oil and gas indusrty in preparation for regaining control of Bolivias resources and gain more control and a better percentage of profits for the state.

Negotitaitions had been described as rocky, as Bolivias energy company Yacimientos Petroliferos Fiscales Bolivianos (YPFB)missed a restructuring deadline and in the interim Andres Soliz Rada resigned as energy minister.

Contracts with ten major foreign companies were finally reached, some of them announced just before the deadline when they would either have had to have an egreement in place or leave the country. The president of YFPB says the contracts will bring Bolivia an estimated 120 million in annual revenue.

Original source: BBC News. Bolivia agrees new energy deals

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20070121-151533-Energy-deal-announced---Bolivia-retaking-control-of-its-resourc business 'Energy deal announced - Bolivia retaking control of it's resourc'