Bolivia Investigates Repsol-YPF Subsidiary

Bolivia has opened an investigation into the operations of oil company Andina, subsidiary of Spanish oil firm Repsol-YPF following claims that Andina may have avoided payment of over $200,000 in taxes and royalties of crude oil shipped out of Bolivia in the 12-month period ending June 2005. According to Bolivian customs, Andina effectively smuggled $9.2 billion worth of crude to Chile and Argentina last year. Repsol has denied any wrongdoing.