Brazil scraps Bolivian project after oil grab

Brazilian energy giant Petrobras CE Jose Sergio Gabrielli has said this week the company is scrapping plans to expand a natural gas pipeline from Bolivia after President Evo Morales’ nationalisation of the energy industry.

The project would have increased capacity 50% from 30-million cubic metres a day.

Brazil is the largest investor in Bolivian energy through state oil company Petrobras, with about $1,5bn in investments.