Bolivia

Venezuela

Trinidad
&
Caribbean

Brazil's Petrobras in negotiations with Bolivia



Petroleumworld Peru
LIMA
Petroleumworld.com 08 11 06

Petrobras' president, José Sérgio Gabrielli de Azevedo said Thursday after meeting with Peru's president, Alan Garcia, that negotiations continue in the company's dispute in Bolivia.

"We have the possibility of finding a negotiated solution. We are in discussions with Bolivia. Nothing is closed," he said.

Negotiations aren't over price levels but for a formula to adjust the prices, Gabrielli noted.

"The negotiations aren't over price levels, but over the formula for adjusting prices." Gabrielli said

On May 1, Bolivian President Evo Morales nationalized the country's oil and natural gas resources and demanded a renegotiation to increase the price of its gas exports to Brazil to a level compatible with international markets .

Brazil currently imports from Bolivia 25 million cubic meters per day.

Petroleumworld 10 08 06

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