Nationalization doubles Bolivia's income from oil and gas

dpa German Press Agency Published: Friday March 16, 2007

La Paz- Bolivia's income from oil and natural gas doubled
last year after the country nationalized its energy resources,
national media reported Friday citing the Energy Ministry.
The state obtained 1.299 billion dollars from the sector in 2006,
the reports said.

Left-wing populist Evo Morales - the first Bolivian president of
indigenous descent - nationalized energy resources in May and
renegotiated substantially more lucrative contracts with foreign
companies over the following months.

However, the lion's share of the country's energy income went to
the provinces. The central government obtained only 131.4 million
dollars more last year than in 2005.

© 2006 - dpa German Press Agency

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