Bolivian Government Seizes Pan American’s Stake in Caipipendi Gas Field

Bloomberg reported that government of Bolivia has seized Pan American Energy LLC’s stake in the Caipipendi gas field since the company has not able to maintain investment commitments.

As quoted in the market news:

State oil company Yacimientos Petroliferos Fiscales Bolivianos will take over Buenos Aires-based Pan American’s 25 percent stake, Energy Ministry spokesman Juan Segales said today in a telephone interview from La Paz.

Click here to read the full Bloomberg report.