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Morales to nationalize Bolivia oil, gas:
The winner of Bolivia's presidential elections has repeated his vow to nationalize oil and gas and said he will void at least some contracts held by foreign companies "looting" the poor Andean nation's natural resources.
Morales to nationalize Bolivia oil, gas:
The winner of Bolivia's presidential elections has repeated his vow to nationalize oil and gas and said he will void at least some contracts held by foreign companies "looting" the poor Andean nation's natural resources.
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Eyeing return, Ortega says Bolivia poll is US loss :
Former Nicaraguan President Daniel Ortega, a Cold War U.S. foe, hailed Bolivia's election of a leftist president and said on Wednesday it was part of a trend that will help him return to power next year.
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Eyeing return, Ortega says Bolivia poll is US loss :
Former Nicaraguan President Daniel Ortega, a Cold War U.S. foe, hailed Bolivia's election of a leftist president and said on Wednesday it was part of a trend that will help him return to power next year.
Bolivia to nationalise oil and gas
The winner of Bolivia's presidential elections has repeated his vow to nationalise oil and gas and said he will void at least some contracts held by foreign companies "looting" the poor Andean nation's natural resources. Indian coca farmer Evo Morales said he will not confiscate refineries or infrastructure owned by multinational corporations.Instead, his government would renegotiate contracts so that the companies are partners, but not owners, in developing Bolivia's resources, he said."We will nationalise (Bolivia's) natural resources," Morales said at a news conference Tuesday in La Paz. "Many of these contracts signed by various governments are illegal and unconstitutional."It is not possible that our natural resources continue to be looted, exploited illegally, and as the lawyers say, these contracts are legally void and must be adjusted."Gas reserves Bolivia's proven and potential reserves total 48.7 trillion cubic feet of natural gas, second only to Venezuela in South America, according to the US Department of Energy's Information Administration.Morales said his government would open talks with governments and company executives, working to strengthen relations with state oil companies.He has close relations with Hugo Chavez, the Venezuelan president, who is also trying to change the role of foreign oil companies in his country.With 92% of polling stations officially counted, Morales had 54.1% of the vote in Sunday's election.He needs a bare majority to win outright and avoid having congress choose between him and conservative rival Jorge Quiroga in mid-January.Outgoing President Eduardo Rodriguez's administration said it was organising a transition team in anticipation of Morales' inauguration on 22 January.
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* Morales close to outright victory *
Bolivian socialist leader Evo Morales builds an insuperable lead to be named president, electoral officials say.
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