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Bolivia: oil companies demand compensations

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Four international firms have sued Bolivian state for US$925 millions after the nationalizations made by Bolivian President Evo Morales.

The information was made public by the Ministery for Legal Defense of the State Recoveries (what an euphemism), created specifically to defend the State before International Tribunals.

The suing companies are British Ashmore, Italian Telecom, Chilean Quiborax and Gas Transboliviano.

Ashmore is suing Bolivia for the higher quantity: US$500 millions for the nationalizations of the oil company Transredes, a hydrocarbons’ transport firm that is now property of Bolivian state. Ashmore has sued Bolivian state before the Commerce Chamber of Stockholm, Sweden.

Telecom has sued Bolivia for US$350 millions for the nationalization of the National Telecomunications Firm (ENTEL) before the International Center for the Arrangement of Differences related to Investments (CIADI), of the World Bank.

Chilean Quiborax asked for US$40 millions because the State ended a mining concession. The case is also being overlooked by CIADI.

Gas Transboliviano is also asking for US$35 millions because of taxes’ devolutions.

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