Saturday, February 11, 2006

Oil and Gas: Brazil and Bolivia to cooperate on oil and gas

Brazilian state-owned oil company Petrobras, has issued a statement that it will sign a Memorandum of Understanding, with its Bolivian counterpart YPFB. Under the proposed agreement, Brazil will be required to provide technology and expertise to Bolivia in using natural gas as a major fuel

The announcement, came shortly after Bolivian President Evo Morales, pledged to assert more government control over the country's oil and gas exploitation.