Bolivia Says It Had No Obligation to Forewarn Brazil About Oil Nationalization

Minister Pedro Gumucio Dagron, an adviser to the Bolivian government, said today, May 4, that the nationalization of his country’s petroleum and gas reserves should have no affect on the relations between Bolivia and Brazil. In his opinion, the two countries will reach a satisfactory agreement for both parts.

Speaking to the press at the Bolivian embassy in Brasí­lia, Dragon said that the ties between the Brazilian and Bolivian governments are not limited to petroleum and gas exploration. The two countries have 332 treaties in diverse areas.

As far as the petroleum and gas area goes, the Bolivian counselor, who is in charge of business relations with Brazil, pointed out that foreign firms in Bolivia have 180 days to renegotiate their contracts for the right to exploit the country’s natural resources.

"Bolivia has not shut the doors to negotiation. The purpose of nationalization is not to create ill will. What Bolivia desires is to establish a partnership with Brazil," Dagron affirmed.

According to Dagron, the measure taken by Bolivia’s president Evo Morales was a necessary step to improve the quality of life for the Bolivian population.

The minister also mentioned that, since the measure represents a sovereign act, the country had no obligation to provide beforehand information to the countries that have companies in Bolivia.

ABr

Tags:

You May Also Like

A Banco do Brasil branch in Brazil

Brazil’s Financing for Exporters Grows 45%

Bank of Brazil, a state-owned financial institution, ended the month of April with an ...

Brazil Slashes 1/4 of Its Defense Budget

It’s the intention of the Brazilian government to cut US$ 4.2 billion Brazilian reais ...

Hearing the Book

CDs or Books by Keyword, Title or Author By Brazzil Magazine As the year ...

Milton Hatoum: Author from Brazil, Voice of Many Cultures

Good literature is not always a synonym of immediate success with the public. There ...

Close Ally of Brazilian President Loses Political Rights

A Brazilian court suspended the civil rights of Sao Paulo’s former mayor, Marta Suplicy, ...

Time to Stop Crying and Start Working, Says Brazil’s Lula

“Brazil cannot squander and lose an exceptional opportunity to consolidate itself and rise above ...

Fire and Poetry

Who is the Brazilian teenager? He/she is passionate and apathetic, abstemious and drug-addicted, criminal ...

RAPIDINHAS

Francis Hime’s Sinfonia do Rio de Janeiro de São Sebastião DVD celebrates the Cidade ...

Brazilian NGO is embroidering the Pope's bed sheets

Brazilian Hands Weave the Sheets the Pope Will Sleep on in Brazil

In the hands of four embroiderers from Potim, a city with 14,000 inhabitants in ...

In Libya Lula Tells Brazil, US and EU Have Historic Debt to Africa

Luiz Inácio Lula da Silva, the president of Brazil, said this Tuesday (June 30) ...