The Bolivian government has taken full control of a key gas pipeline company after talks with the foreign firm that held a controlling stake broke down. It is the latest move in the Bolivian president’s recent effort to nationalise key industries.
President Evo Morales said Transredes had been seized after US company Ashmore Energy International failed [...]

Venezuela has confirmed it has paid $1.8 billion in compensation to French, Norwegian and Italian oil companies for nationalizing key oil fields in the Orinoco basin in 2006.
France’s Total, Norway’s Statoil and Italy’s ENI gained the settlement after they accepted the book price for the assets Venezuela’s state-run PDVSA oil company took over.

Venezuelan President Hugo Chavez has threatened to cut off oil supplies to the US if it continues what he calls an economic war. “Take note Mr Bush, Mr Danger,” said Mr Chavez in his weekly televised address. “I will cut off oil supplies.”
British and US courts froze assets belonging to Venezuela’s state energy company last [...]

The Fourth of July was cool and rainy in Vermont, as it seems to be with surprising regularity. I suppose that’s why my town sets off its fireworks on the evening of July 3rd, which was perfect for pyrotechnics this year.

Four multinational oil companies have finally agreed to cede control of Venezuela’s last remaining privately run oil projects to President Hugo Chávez’s government.
Officials from Chevron, BP, Total and Statoil signed memorandums of understanding this week agreeing to give state oil company Petróleos de Venezuela a majority stake in three of the projects. Exxon Mobil signed [...]