Bolivia Suspends Energy Nationalization

Houston Chronicle – Bolivia says it has suspended the nationalization of its oil and gas industry pending a reorganization of the state petroleum company, which lacks the funds and operating capacity to take over production from foreign companies.

A statement issued Friday by Bolivia’s Hydrocarbons Ministry said that “full effect” of nationalization would be “temporarily suspended, due to the lack of economic resources” of Yacimientos Petroliferos Fiscales Boliviano (YPFB).

The state-owned company has asked the Central Bank of Bolivia for $180 million in financing needed to assume complete control of the country’s production facilities.
Houston Chronicle