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Brazil's Petrobras to halt new
investments in Bolivia
Brazilian state-owned
energy company Petroleo
Brasileiro (Petrobras) will make
no new investments in Bolivia
and will not accept any change
in the price of natural gas
imports, the head of the company
said on Wednesday.
"We have decided to suspend any
possible investment in Bolivia,"
except some basic maintenance,
said Jose Sergio Gabrielli,
president of Petrobras, adding
that this was not a reprisal for
Bolivia's Monday decision to
nationalize its oil fields.
He also said the company would
not take part in the proposed
Brazil-Bolivia gas pipeline
project.
Sergio said it was a response to
the new economic conditions in
the country.
He added that if Bolivia decided
to charge more for natural
gassupplies to Brazil, "we will
not accept. We have to work with
the principle that there are
legitimate contracts that will
be respected."
The presidents of Brazil,
Argentina, Venezuela and Bolivia
will meet on Thursday in the
Argentine city Puertoi Iguazu to
discuss the fallout stemming
from Bolivia's move to
nationalize its energy industry.
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