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Bolivia, Brazil energy deal expected soon: Petrobras official
Platts
The Hague
Petroleumworld.com 09 26 06
Talks between the Bolivian government and Brazil's Petrobras over
Petrobras' operations in the country and gas pricing are to continue and a
solution is expected to be found soon, a top Petrobras official said Friday."Right now, there are a lot of political problems but I think we will
find an agreement with Petrobras. I am optimistic," Milton Costa Filho,
general manager of Petrobras, said on the sidelines of an oil conference in
the Netheralands.Petrobras and other foreign oil companies operating in Bolivia are
expected to sign new operating contracts with the government by November 1 to
adopt the terms of Bolivia's May 1 nationalization decree, including higher
royalty/tax burden and larger government stakes in energy projects and assets.Bolivia is also looking for an increase in the price of its natural gas
sales to Brazil.Brazil is the biggest consumer of Bolivian gas and Petrobras is the
biggest investor in Bolivia's gas fields.Filho on Thursday told delegates that Petrobras plans to "diversify our
portfolio" in the Gulf of Mexico where it has 287 blocks.For more news, request a free trial to Platts Oilgram News at
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Platts 25 09 06
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