Bolivian Hydrocarbons Nationalization Dealt Further Blow

The nationalization of Bolivia’s hydrocarbons sector has been dealt another blow, this time by the opposition-controlled Senate, which has censored the hydrocarbons minister Andrés Soliz for his handling of the process. Soliz, who was obliged by law to hand in his resignation following the vote by opposition senators in favor of the censure, was offered the full support of President Evo Morales, who refused to let him step down. The nationalization process has been hampered by a lack of funds and also by charges of corruption and mismanagement made against the state-run oil company YFPB. The company was put in charge of oil production in May when the nationalization was announced.