Bolivia doubles oil and gas income

Mar 16, 2007 01:00 AM

Bolivia saw income from the exploitation of its oil and natural gas reserves double last year after it nationalised its energy resources, the country's energy ministry said.
The Bolivian central government earned $ 1.2 bn from the oil and gas sector in 2006.

This was however only $ 131.4 mm more than in 2005, with the bulk of the increased take going to Bolivia's provincial governments, the agency said.
Bolivian President Evo Morales took control of oil and gas installations on 1 May last year and forced foreign investors, including Brazilian giant Petrobras and Spains Repsol-YPF, to renegotiate contracts which favoured the government.

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