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Bolivia to End Oil Production Monopoly: Bolivia...

From Times Staff and Wire Service Reports

Bolivia to End Oil Production Monopoly: Bolivia plans to end a 50-year monopoly by its national oil company, opening the way for joint ventures with U.S. firms. Manuel Olave Sarmiento, vice president of YPFB, the national company, said legislation scheduled to be passed this week will open the way for joint ventures in producing areas formerly reserved for YPFB. Bolivia wants to replace through private investment the $150 million a year that YPFB invests in exploration drilling.


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