Bolivia will take control of three foreign energy companies, the country’s socially minded president, Evo Morales, said on May 1st, the international workers holiday.
BP-owned Chaco, Ashmore Energy’s Transredes and CLHB company are to be nationalized in the wake of the nationalization on May Day of Telecom Italia’s Euro Telecom International, Agence France-Presse has reported.
Morales had long warned he would move on oil companies not deemed to be producing enough from idle Bolivian acreage. He came to power after a massive civil disobedience campaign on an anti-globalization platform.
BP-owned Chaco, Ashmore Energy’s Transredes and CLHB company are to be nationalized in the wake of the nationalization on May Day of Telecom Italia’s Euro Telecom International, Agence France-Presse has reported.
Morales had long warned he would move on oil companies not deemed to be producing enough from idle Bolivian acreage. He came to power after a massive civil disobedience campaign on an anti-globalization platform.
Source: Scandoil
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