Bolivia

Bolivia Nationalizes Natural Gas Industry
01 May 2006

NEW YORK TIMES (NEW YORK)--Bolivia's President Evo Morales decreed the nationalization of the country's natural gas industry 01 May 2006, following through on an election pledge to increase control over the energy industry. Under the decision, he ordered foreign firms to send production to a state company for sales and industrialization, and said that the state will also recover Bolivian hydrocarbons companies that were privatized in the 1990's, with the state taking over shares that are in the hands of foreign companies and of semi-public Bolivian entities. As president-elect, Mr. Morales met with President Hu Jintao of China in Beijing and called China an "ideological ally," a day after he invited it to develop Bolivia's vast gas reserves. Source: http://www.nytimes.com/2006/05/01/world/americas/01cnd-bolivia.
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