Bolivia-Brazil Oil Talks Have Broken Down

Following a report this week by the Spanish news agency EFE, Petrobras admitted Wednesday, March 29, that its negotiations with the new Bolivian government are at a standstill.

A spokesperson says the talks have made no progress for a month because president Evo Morales has not appointed a negotiator.

"We are trying to keep communication channels open with the Bolivian government, but we are not getting any answers from them," said the spokesperson.

Under the circumstances, continues the spokesperson, Petrobras is unable to make unilateral decisions. Its investment plans for Bolivia are on hold until such time as it becomes clear that there is someone it can negotiate with.

Petrobras is a significant investor in Bolivia and before the breakdown in the negotiation process was involved in talks concerning refineries, petroleum exploration and production, biofuels, developing the Bolivian natural gas sector, conversion of vehicles to natural gas use and the residential use of natural gas.

Ildo Sauer, a Petrobras director, points out that the corporation has contracts with the Bolivian government that run to 2019 guaranteeing that 27 million cubic meters daily of natural gas will flow to Brazil from Bolivia.

ABr

Tags:

You May Also Like

US$ 64 Billion in 12 Months. Foreigners Had Never Invested So Much in Brazil

According to figures disclosed by Brazil’s Central Bank, foreign direct investment in Brazil was ...

Brazilian Airlines TAM and Gol Stocks Sink Together with Bankrupt Varig

Latin American stocks were mixed, with Brazilian shares in a slump, Mexico slightly higher ...

TAM, Brazil’s Flag Carrier Airline, Joins Star Alliance

Brazilian flag carrier airline TAM announced its entry into the Star Alliance, the largest ...

What’s Your SQ (Sexual Quotient)? Brazil’s Dr. Abdo Will Tell You.

After centuries of human sexual relations, Brazilian sexologist, Dr. Carmita Abdo, says that she ...

The Mother of All Moms

In the first tests of vitality Sasha got a nine out of a possible ...

Velloso with a J

They were practically unknown from people outside the jail system until they staged the ...

Cutting Brazil to the Bone

A Brazilian senator wants to drastically reduce the number of Brazil’s congressmen, both senators ...

Brazil Intent on Becoming a Major Competitor on World Tourism

A plan to increase the competitiveness of Brazilian tourism on the world market was ...

Good Prospects for Brazil Don’t Prevent Market Fall

Latin American stocks slumped again this Wednesday, March 8, amid ongoing concerns over rising ...

Brazil’s Petrobras Gets Contract to Explore Oil Off New Zealand’s Coast

New Zealand’s Energy and Resources Minister Gerry Brownlee awarded his country’s first petroleum exploration ...