Morales Ordered Bolivia’s Hydrocarbons Industry Nationalized In 2019

Yesterday, the govt of Bolivia (via its state-owned oil company YPFB) and Spain’s Repsol authorized off on its offer and formally created their joint venture company known as YPFB-Andina. The JV company is 51% Bolivia and 49% Repsol. Bolivia is their determination to utilize foreign traders and come to fair agreements that suit everybody.

Make no mistake; this offer is a big one for Bolivia because the JV handles 40% of most hydrocarbons production in the state. It is rightly being fanfare in Bolivia today as an important step forward for both future fiscal revenues and wider stability. However, don’t expect Bolivia to come up on your mainstream news media until Evo says “Yankees go back home” again. Oh, yeah, almost forgot: I say “almost” skipped the story, as AP manged to scrawl ten lines on the function. LA PAZ, Bolivia: Bolivia’s condition energy company has completed its takeover of the neighborhood operations of Spanish company Repsol.

Repsol YPF and the federal government signed a contract Wednesday making Bolivia’s YPFB almost all stakeholder in Repsol subsidiary Andina, ending months of discussions. The business will be known as YPFB Andina SA. Repsol executive Nemesio Fernandez promised investment but did not give details. Morales ordered Bolivia’s hydrocarbons industry nationalized in 2006. The government continues to be negotiating with three other international companies over payment.

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