Bolivia's Morales May Seize More Oil Firms, La Razon Says

Bolivia’s President Evo Morales said he may seize more oil companies if they fail to meet investment commitments, daily La Razon reported.

Bolivia has the “capacity to recover shares from companies who are sabotaging investment,” the La Paz-based newspaper reported Morales as saying. Last month he stripped Argentina’s Pan American Energy LLC of its stake in the $1.6 billion Caipipendi natural-gas project.

Bolivia aims to boost natural-gas production by 10 percent this year to 51.9 million cubic meters per day and liquid-gas output by 12 percent to 50,046 barrels per day, La Razon said.

Total SA (FP) and Petroleo Brasileiro SA (PETR4) will boost gas output at the San Alberto field by 12 percent with the startup of the $80 million Sabalo 8 gas well in June, the newspaper said.

To contact the reporters on this story: Alex Emery in Lima at aemery1@bloomberg.net;

To contact the editor responsible for this story: Carlos Caminada at ccaminada1@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.