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

    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.

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    The War in October: What Happened in 1973?

    The War in October: What Happened in 1973?

    Al Jazeera examines three weeks of war from which both Arabs and Israelis claimed to emerge victorious.