USD 80.5268

-0.16

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-1.09

Brent 66.42

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Natural gas 2.801

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135

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Bolivia is seeking the return of $130 million the state paid to...

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Bolivia is seeking the return of $130 million the state paid to Enron for the development of a gas pipeline to Brazil. Enron reneged on terms of a memorandum of understanding with state oil firm YPFB, according to Juan Carlos Virreira, the government's point man on privatization of state firms.

The justice minister would decide whether there were improper dealings, he said. The government charges that Enron didn't abide by the terms of the MOU and sold its shares in the project to Royal Dutch/Shell without YPFB's authorization. Ultimately, Petrobras took the lead in building and financing the pipeline.

An Enron spokeswoman couldn't be immediately reached for comment.

As part of its reorganization, Enron is transferring its international energy assets -- including shares in gas and refined products pipelines in Bolivia -- to a newly formed holding company, Prisma Energy. The plan awaits approval by a bankruptcy court.


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