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Bolivian Government Threatened To Throw Out Energy Firms

Bolivia's left wing government has claimed energy companies to invest more

Bolivian Government Threatened To Throw Out Energy Firms

Bolivia's left wing government has claimed energy companies to invest more bin the country's infrastructure.

Otherwise, they will be thrown out of the country if they do not make large investments before August 20th, the government threatened.

Energy Minister Carlos Villegas says the companies will be thrown out if they can’t prove they are willing to participate in investing in the oil rich country.

Villegas says the new operating contracts signed by energy companies, to comply with nationalisation of the industry, will compel them to produce results.

Officials say the contracts signed in October 2006 commit the foreign companies to invest some US$3.5 billion to increase production.


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