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Bolivian nationalization shakes Brazil
Publication year - 2006
Publication title -
oil and energy trends
Language(s) - English
Resource type - Journals
eISSN - 1744-7992
pISSN - 0950-1045
DOI - 10.1111/j.1744-7992.2006.310507.x
Subject(s) - government (linguistics) , energy sector , business , fossil fuel , petroleum industry , economic policy , economy , economic growth , international trade , economics , natural resource economics , engineering , environmental engineering , waste management , philosophy , linguistics
Bolivia's President, Evo Morales, celebrated May Day by nationalizing the country's gas and oil industries. The move reverses a nine‐year programme of privatization which saw the entry of several large foreign companies into the country's energy sector. The companies were given 180 days to accept new contracts under which the government is to receive a majority share in every gas and oil project.