June 12, 2007
Bolivia, via state-owned oil concern YPFB, has paid the first of two tranch
Bolivia, via state-owned oil concern YPFB, has paid the first of two tranches of $56m to Petrobras in compensation for assets seized earlier this year. Last month, after much wrangling, Bolivia agreed to pay $112m to the Brazilian state-owned company in compensation for the two refineries 'reclaimed' as part of Bolivia's hydrocarbons nationalization program. Petrobras bought the assets for $104m in 1999 from Bolivia's YPFB as part of a privatization initiative.