Bolivia to buy BP, Repsol gas holdings

President Evo Morales has set a April 30 deadline for Bolivian subsidiaries of British Petroleum, Repsol YPF, and Ashmore Energy International to return to state control.

The three companies each own former parts of Bolivian state energy company YPFB that were privatized during the 1990s. Morales' 2006 nationalization of Bolivia's oil and gas sector requires those subsidiaries be sold back to the state.

Morales hopes to complete long-delayed talks over the sales by May 1, the second anniversary of nationalization.

The deadline affects gas production companies Chaco, controlled by BP. It also affects Andina, controlled by the Spanish company Repsol YPF and pipeline company Transredes, controlled by the Houston-based Ashmore Energy International.miércoles, 26 de marzo de 2008 (13:04 h.)

[Source: The Boston Globe, La Paz, Bol, 27mar08]

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