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Latin America: Bolivia's gas nationalisation stalls; Brazil's gas-spending surges

WHEN Bolivian President Evo Morales sent troops to occupy oil and gas fields and decreed a nationalisation of his country's energy industry on 1 May, the plan was to re-found YPFB, the state-owned oil company, and place it in firm control of everything from refining, fuels distribution and gas prices to pipelines and, eventually, exploration and production. The decree said foreign majors would have to sign new contracts with the government by 1 November and hand over majority control of their Bolivian energy assets. Part of Bolivia's plans have now been delayed and the government admits YPFB has neither the cash nor the expertise to take on the full breadth of its new role in the immediate

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