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Bolivia must pay if it nationalizes Petrobras assets: Lula


Reuters

Brazilian President Luiz Inacio Lula da Silva

AFP
BRASILIA
Petroleumworld.com 07 28 06

Brazilian President Luiz Inacio Lula da Silva on Thursday said Bolivia's government "must pay the price" if it wants to appropriate local assets of Brazilian oil firm Petrobras, the Andean country's biggest investor.

"Throughout history, several countries have nationalized resources they deemed strategic," Lula told CBN radio.

He said he was ready to accept Bolivia's proposal to raise the price of Bolivian gas exported to Brazil. Bolivia exports some 25 million cubic meters of gas a day to Brazil, which covers half of the South American powerhouse's gas needs.

But he added that if Bolivian authorities "want to eventually nationalize Petrobras (facilities), they know they must pay the price."

Prior to nationalization, Petrobras operated 14.5 percent of Bolivia's natural gas reserves, the second-largest in South America.

AFP 27 1419 GMT 07 06

Copyright ©AFP. All Rights Reserved.

 

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