[Marxism] DOW JONES: Bolivia Taking Majority Control of Repsol Unit

[Walter Lippmann]

Bolivia Taking Majority Control of Repsol Unit 	 	 	
by Eduardo Kaplan
Dow Jones Newswires Thursday, May 01, 2008

NEW YORK, May 1, 2008 (Dow Jones Newswires)

Two years after announcing a campaign to nationalize its energy
sector, Bolivia's government is in the process of purchasing majority
stakes in local affiliates of foreign oil companies operating in the
country, Bolivia's top energy official announced Thursday, according
to the Associated Press.

One of the deals would give Bolivia's state-run energy company YPBF a
stake of 50% plus one share in Andina, the local affiliate of Spain's
Repsol (REP), said Bolivia's energy minister Carlos Villegas.

Local press reports say the government will confirm later Thursday
similar deals to take over a local affiliate of British Petroleum
(BP) as well as the oil and gas pipeline company Transredes,
controlled by the UK's Ashmore Energy International.

There are no details regarding the transaction. The government made
an announcement Thursday by publishing ads in the largest newspapers.

President Evo Morales is expected to make an announcement later
Thursday. This May 1, International Workers's Day, marks the deadline
to reach an agreement with foreign energy companies in Bolivia after
the first decree to nationalize energy resources in 2006.

NEW YORK, May 1, 2008 (Dow Jones Newswires)