|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Bolivia

Bolivia Pays Petrobras, Total $133 Million for Stake in Gas Pipeline

LA PAZ – Bolivian state-owned energy company YPFB has paid $133 million to Brazil’s Petrobras and France’s Total for their stake in pipeline operator Transierra.

YPFB CEO Carlos Villegas said in the eastern city of Santa Cruz that following the acquisition the Andean nation now has full control over domestic hydrocarbon transport via pipelines.

Bolivia’s leftist president, Evo Morales, also was on hand for the signing ceremony at the company’s installations.

The company, which will henceforth be known as YPFB-Transierra, now has a 55.5 percent stake in the pipeline, while YPFB-Andina, in which YPFB and Spain’s Repsol have nearly equal shares, has the remaining 44.5 percent.

The strategic, 432-kilometer (270-mile) Transierra pipeline transports natural gas from resource-rich fields in the southern region of Tarija to Rio Grande, Santa Cruz province, Bolivia’s main gas-export hub.

Hydrocarbons Minister Juan Jose Sosa praised Petrobras and Total for the “goodwill offered in these negotiations” to reach a satisfactory agreement.

“That shows not only their willingness to support this process of change embarked upon by us as Bolivians, but also their trust in the legal certainty that the government offers them through its respect and recognition of their investments,” Sosa said.

YPFB negotiated the purchase of Petrobras’ and Total’s shares following the enactment of a law in December requiring the state-owned energy company to have a majority stake in Transierra.

The deal incorporates YPFB-Transierra into a state-controlled natural gas transport system that also includes YPFB Transporte; GasTransBoliviano, which operates Bolivia’s portion of the bi-national pipeline that carries gas to Brazil; and YPFB Logistica.

Edwin Alvarez, who had served until now as YPFB’s head of contract management, has been named top executive of YPFB-Transierra.

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:



 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved