Bolivia And Venezuela Sign Energy Agreement

Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) and Petróleos de Venezuela (PDVSA), the state-run oil concerns of Bolivia and Venezuela, respectively, have set up a joint venture company – Petroandina Gas. The company, which is 51% owned by YPFB and 49% by PDVSA, will be in charge of operating two liquid gas plants in Bolivia for $170 million. The plants have a projected operating capacity of 680 million cubic feet per day.