Repsol labels Bolivian spat a "misunderstanding'

Repsol chairman Antonio Brufau to Bolivia this week


AFP
MADRID
Petroleumworld.com 02 27 06

A complaint by the Bolivian authorities accusing Spanish oil giant Repsol of illegally exporting 230,000 barrels of oil between June 2004 and June 2005 is a "misunderstanding," the Spanish firm said Monday.

"We had the news, but it's a misunderstanding and we are very optimistic that a solution will be shortly found," Repsol senior representative in Bolivia, Julio Gavito, said.

"I'm not going to enter into more details," he added, saying only that "I would confirm that we know about the situation."

"The solution will be found quickly because it's a misunderstanding."

Repsol chairman Antonio Brufau is to go to Bolivia this week where he is to meet President Evo Morales, who has pledged to increase state control of the energy sector since his December election.

A total of 26 oil and gas firms are operating in Latin America's poorest country, with Repsol YPF on a list that includes French firm Total and British Gas. The Spaniards earlier this month they were investing 150 million dollars in Bolivia.

Spain's ambassador to Bolivia met Morales at the weekend to "transmit Madrid's unease and its willingness to follow these events," a foreign ministry spokesman told AFP Monday.

The spokesman added that Spanish Foreign Minister Miguel Angel Moratinos had called Brufau on Sunday to keep him up to date on developments.

AFP 02 27 06

Copyright © 2006 AFP. All rights reserved

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