LA PAZ – The new president of Bolivia’s state energy company said Saturday he wants to help create a continent-wide energy alliance that would compete with powerful multinationals and eventually control the price and production of oil and gas in Latin America.
The alliance would include energy-producing countries in Latin America, including Central America and the Caribbean, and would include the state energy giants Petroleo Brasileiro S.A., or Petrobras, and Venezuela’s Petróleos de Venezuela S.A., or PDVSA, Jorge Alvarado, president of Yacimientos Petróleros Fiscales de Bolivia or YPFB, told The Associated Press.
“We’re talking at the most five years to have a company of this kind,” Alvarado said.
“It’s going to guarantee energy security for the region”.
“Far from giving energy security to other continents with Latin American resources, it’s preferable to think in the security of Latin America.”
Alvarado referred to the proposed company as Petróamerica, a name that Venezuelan president Hugo Chávez used in a recent pledge to provide fuel to Latin America and avoid a Washington-backed Free Trade Area of the Americas agreement. AP