Environmental groups and indigenous leaders have claimed a dramatic victory after Occidental Petroleum Corp confirmed plans to withdraw from a controversial oil and gas venture in Peru. Occidental’s departure, which the company said is contingent on approval by the Peruvian government, follows extensive criticism by NGO’s. One of the company’s biggest critics, Atossa Soltani, executive … Read More
Latin American oil
Morales Follows his Friend Chavez
Continuing our Latin American theme today that shows the influence Chavez is having on the region. The Bolivian President Evo Morales has finally signed contracts giving the government control over foreign energy companies’ operations, completing a process begun May 1 with the nationalization of Bolivia‘s petroleum industry. The deals also give the government a majority … Read More
Chavez Wins Runaway Victory
Hugo Chavez won a convincing re-election today, giving him another six years to solidify his self-styled socialist revolution and continue his anti-Bush campaign. There is no doubt that Chavez has used Venezuela‘s oil wealth to his political advantage. He has channeled oil profits toward multi-billion programmes for the poor, including subsidised food, free university education … Read More