Brazil's state oil company Petrobras, Bolivia and Brazil have reached agreement on the nationalization of two oil refineries in Bolivia owned by Petrobras.
Petrobras had asked US$ 200 million at first, and is likely to put a freeze on any future investment by Petrobras in Bolivia's natural gas industry, currently the main supplier to Brazil's fast-growing market.
"Petrobras will have to think very carefully about any future investments in Bolivia," said Adriano Pires, an oil industry consultant in Rio de Janeiro. "Unfortunately it has no way of leaving the natural gas industry because Brazil is a hostage to Bolivian gas."
Bolivia's response was to announce its withdrawal from the organization earlier this week. -neftegaz.ru
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