[SOUTH AMERICA] Bolivia to nationalize three oil companies

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.
SOUTH AMERICA: Bolivia to nationalize three oil companies

Source: Scandoil

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