The four energy companies are: Transredes, part of British firm Ashmore Andina owned by Spain's Repsol; Chaco, a subsidiary of Pan American Energy; and CLHB, controlled by joint Peruvian and German firm Kapital/Oiltanking GmbH, local newspapers reported.
Bolivia's state energy company paid $6.3 million for a majority stake in Andina, one of the country's biggest energy companies which exploits oil and gas fields and owns a 50 per cent stake in two giant gas fields.
The Bolivian government took control of
Morales said the government will have majority shares in
"Today we are nationalising Entel, and starting today Entel returns to the hands of the Bolivian people," Morales said in a May Day speech. "Basic services - call them energy, water or communications - cannot be in the hands of private business," he said. "They are public services," he added.
The move comes ahead of a referendum due in two days in one of the country's wealthiest provinces, Santa Cruz de
Morales plans to use the revenues from the nationalised industries to fund government schemes for the majority native
While previous part-nationalisation of the country's oil and natural gas, including oil, electricity and cement industry, has helped double the government's income, the lion's share of the income continued to go to the provinces.
With strong backing from
Bolivia's state energy company paid $6.3 million for a majority stake in Spanish-owned Andina, one of the country's biggest energy companies which exploits oil and gas fields and owns a 50 per cent stake in two giant gas fields.
It has also taken over control of
Republished from Domain-b