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| Bolivia agrees new energy deals | Bolivia agrees new energy deals |
| (1 day later) | |
| Bolivia has agreed energy deals with 10 foreign gas and oil firms, just before a deadline for foreign firms to agree new contracts or leave the country. | Bolivia has agreed energy deals with 10 foreign gas and oil firms, just before a deadline for foreign firms to agree new contracts or leave the country. |
| Brazil's Petrobras and Spain's Repsol were among eight to reach agreement on Saturday, after two deals on Friday. | Brazil's Petrobras and Spain's Repsol were among eight to reach agreement on Saturday, after two deals on Friday. |
| The contracts come after President Evo Morales nationalised the oil and gas industry in May to give the state more control and a larger slice of profits. | The contracts come after President Evo Morales nationalised the oil and gas industry in May to give the state more control and a larger slice of profits. |
| He said that now Bolivia would no longer be "a beggar state". | He said that now Bolivia would no longer be "a beggar state". |
| "We will continue in this path of recovering our natural resources," said Mr Morales, "not only the hydrocarbons but... all non-renewable natural resources that belong to the Bolivian people." | "We will continue in this path of recovering our natural resources," said Mr Morales, "not only the hydrocarbons but... all non-renewable natural resources that belong to the Bolivian people." |
| Under the terms of the president's 1 May decree, foreign companies had six months to sign contracts giving up majority control of their Bolivian operations. | Under the terms of the president's 1 May decree, foreign companies had six months to sign contracts giving up majority control of their Bolivian operations. |
| The companies will also have to work in partnership with the re-founded Bolivian state energy firm, Yacimientos Petroliferos Fiscales Bolivianos (YPFB). | |
| COMPANIES SIGNED UP AndinaBG GroupChacoMatpetrolRepsolPetrobras (two branches)PluspetrolTotal SAVintage Petroleum | COMPANIES SIGNED UP AndinaBG GroupChacoMatpetrolRepsolPetrobras (two branches)PluspetrolTotal SAVintage Petroleum |
| The BBC's Damian Kahya in La Paz says a deal with Petrobras - the largest foreign investor in the industry - came as a significant boost for Mr Morales as the Brazilians have invested more than $1bn in Bolivian gas. | The BBC's Damian Kahya in La Paz says a deal with Petrobras - the largest foreign investor in the industry - came as a significant boost for Mr Morales as the Brazilians have invested more than $1bn in Bolivian gas. |
| However, Petrobras and the Brazilian government had been angered by the way the Bolivians conducted negotiations, accusing them of bullying, our correspondent says. | However, Petrobras and the Brazilian government had been angered by the way the Bolivians conducted negotiations, accusing them of bullying, our correspondent says. |
| Deals with seven more firms, including the second largest investor Spain's Repsol and the UK's BG Group, were announced a few hours' before the deadline expired. | Deals with seven more firms, including the second largest investor Spain's Repsol and the UK's BG Group, were announced a few hours' before the deadline expired. |
| Details of the contracts signed on Friday are not yet available, but the president of YPFB, said they would bring Bolivia $120m (£63m) in annual gas revenues. | |
| 'Rocky' negotiations | 'Rocky' negotiations |
| The negotiation process has not been simple. Talks were dealt a blow in September when Andres Soliz Rada, a main player in the nationalisation process, resigned as energy minister. | The negotiation process has not been simple. Talks were dealt a blow in September when Andres Soliz Rada, a main player in the nationalisation process, resigned as energy minister. |
| Mr Soliz had clashed with state-owned Petrobras, the biggest investor in Bolivia's energy industry. | Mr Soliz had clashed with state-owned Petrobras, the biggest investor in Bolivia's energy industry. |
| However, Mr Rada was replaced by Carlos Villegas, and talks proved to be more fruitful. | However, Mr Rada was replaced by Carlos Villegas, and talks proved to be more fruitful. |
| There were other problems including a lack of money that hampered Bolivia's YPFB, in its plans to buy control of the assets like refineries and pipelines. | |
| YPFB also missed a 1 July deadline to restructure itself so it would be better able to handle its more dominant position in the oil and gas industry. |