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Caribbean-Latin America
Petrobras halts $5bn investment plans for Bolivia
2006-04-03
under subscription wall. short excerpt:
Petrobras, the largest international company operating in Bolivia, has suspended plans to invest up to $5bn in the countryÂ’s gas sector after it said negotiations with the government of Evo Morales had broken down.

The announcement signals a deterioration in relations between the Morales administration and the gas sector. “Within the sector there is complete disappointment and lack of enthusiasm,” said an industry insider. “I’ve never seen anything like it.”

Petrobras’s change of heart appeared to have come in response to a series of aggressive statements from Andrés Soliz Rada, Bolivia’s hydrocarbons minister.
In recent days, Mr Soliz has threatened to raise tax rates on some gas fields from 50 per cent to 70 per cent, refused to negotiate with oil companies that are threatening to go to international arbitration. He has also accused Brazil of hardening its attitude in talks and of viewing Bolivia “as some kind of semi-colony”.
Morales has been spending lots of time with his best buddy Chavez
The industry source said the knock-on effects of Petrobras’s announcement could be extremely serious. “If Petrobras is saying that, it makes it more likely that the whole sector will just stagnate,” he said.
Posted by:lotp

#2  Bolivia should get some better roads. I travelled this one above 2000 foot sheer cliffs, to the village of Coroico. FYI: it is one way traffic for 2 hours; then they go in the other direction. Just as well, because there were fresh bus-plunge marks on the cliff when I passed it.

http://www.flickr.com/photos/f-jauregui/sets/1020995/
Posted by: Listen to Dogs   2006-04-03 03:07  

#1  Petrobras halts $5bn investment plans for Bolivia

Sea: "Morales has been spending lots of time with his best buddy Chavez"

related,
Venezuelan farms under seige, by Venezuelan land expropriators

It's not well known but Castro has taken over every key office of the Venezuelan agricultural office. And Castro's special target is Cuban immigrants who made this land in Venezuela flourish.

Posted by: RD   2006-04-03 01:37  

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