Don't miss

Replay


LATEST SHOWS

FOCUS

Training future football champions in Vietnam

Read more

ENCORE!

Guitar Hero: Johnny Marr brings solo work to the stage in Paris

Read more

THE INTERVIEW

Presidential meeting signals 'another chapter' in Franco-Rwandan relations

Read more

THE DEBATE

Macron courts tech giants during Paris summit

Read more

PEOPLE & PROFIT

Trade truce: US-China tensions cool, but is a trade war still possible?

Read more

BUSINESS DAILY

Viva Technology conference opens in Paris as Macron seeks French dominance

Read more

IN THE PRESS

Does the NFL's new ultimatum on kneeling pander to Donald Trump?

Read more

IN THE PRESS

What's in a name? France moves to protect regional term for chocolate croissant

Read more

EYE ON AFRICA

Macron and Kagame meet to repair strained ties over Rwandan genocide

Read more

Americas Americas

Morales nationalises BP aviation unit

Latest update : 2009-05-01

Bolivian President Evo Morales marked May Day on Friday by nationalising the Bolivian subsidiary of British aviation fuel supplier AirBP, in a decree before a crowd in La Paz. Morales has nationalised oil and telecoms companies during his tenure.

AFP - Bolivian President Evo Morales nationalized the Bolivian subsidiary of British aviation fuel supplier AirBP in a decree made public Friday before a massive crowd to mark May Day.
  
"By this decree, AirBP is nationalized by the Bolivian state," Morales said as he signed the decree into law, amid cheers from workers who congregated at Plaza de Armas de La Paz, the headquarters of the executive branch.
  
Morales ordered the military and state oil company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) to take over AirBP, which owns 12 jet fuel service stations at airports in La Paz, Santa Cruz, Cochabamba, Tarija, Beni and Pando.
  
The British company, which is headquartered in Santa Cruz, 900 kilometers (559 miles) east of the capital, did not provide an initial reaction and its offices were closed due to the national holiday.
  
During his three years in office thus far, Morales has nationalized oil and telecommunications companies, also on May 1, for which he said he would negotiate a payment.
  
In Friday's decree, the president also ordered workers' benefits, including mandatory severance pay after 90 months (before five years) of continuous work to cover social security coverage for temporary employees.

Date created : 2009-05-01

COMMENT(S)