Bolivia take back their assets!

Under the May Day decree, private energy companies will have to sell a controlling stake to the Bolivian government and renegotiate contracts.

Under the terms of Decree 28701, the Bolivian government has declared absolute control over the country's energy resources and radically altered the conditions of its relationship with the energy companies.

Companies have six months to negotiate new contracts with the Bolivian government. During that time, the Bolivian government says it will carry out audits of each company to determine how much it should pay for a stake of at least 51% in each.

GAS DECREE
The state takes control of all gas fields
Companies have six months to renegotiate contracts or be expelled
They will be obliged to sell at least 51% of their holdings to the Bolivian government
The two largest gas fields - San Alberto and San Antonio - must give 82% of production to the state, up from 50%
The state will take 60% of production from other fields
Details of new contracts to be worked out on a case-by-case basis

Bolivia's state-owned energy company, YPBF, will take control of the production, transport, refinery, and sale of the gas.

With immediate effect, gas fields producing more than a daily 100 million cubic feet of gas will retain only 18% of the gas they produce, down from 50%. This is reported to apply to two fields, San Alberto and San Antonio.

Companies operating other fields will retain 40%, local media report.

Speaking at an oilfield in the south of the country on Monday, Bolivia's left-wing president called it an "historic day".

"The pillage of our natural resources by foreign companies is over," he declared.

About 100 soldiers peacefully took control of the Palmasola refinery in the south-eastern city of Santa Cruz, reported the news agency Associated press.

The government said soldiers and engineers were sent to 56 locations around the country.

Mr Morales said the gas fields were "just the beginning, because tomorrow it will be the mines, the forest resources and the land".

There you go,a country not afraid to try and stand up for itself.............................pity it's gonna leave them fucked though! :(