Bolivian energy chief resigns

Head of state energy firm cites differences with government policy.

    Juan Carlos Ortiz, left, resigned citing differences with Evo Morales, Bolivia's president [AP]

    His predecessor, Jorge Alvarado, had stepped down amid accusations of fraud.
     
    Election promises
     
    Morales, pledging to generate more wealth for the country's poor from the energy sector, has vowed to revitalise YPFB and put it at the heart of the nationalised industry.
     
    In October, foreign energy companies signed new contracts to continue operating in Bolivia under Morales's nationalisation plan.
     
    They agreed to become service providers to YPFB in exchange for a small share of revenue from natural gas sales.
     
    Morales is a close ally of Hugo Chavez, the Venezuelan president, who recently vowed to take a bigger share in foreign-run oil projects in his oil-rich country.
     
    Bolivia has the second-largest natural gas reserves in South America after Venezuela, but it is the region's poorest country.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    'We scoured for days without sleeping, just clothes on our backs'

    'We scoured for days without sleeping, just clothes on our backs'

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    Daughters of al-Shabab

    Daughters of al-Shabab

    What draws Kenyan women to join al-Shabab and what challenges are they facing when they return to their communities?