Gazprom Ready To Join Andean NOC Club

Russia's Gazprom has revealed plans to acquire a 20-24.5% stake in Petroandina, a joint venture (JV) between the national oil companies (NOCs) of Bolivia and Venezuela, which aims to broaden Bolivia's areas of gas production. Bolivian President Evo Morales is placing high hopes on politically-friendly NOCs to fill the investment gap caused by the departure of several international oil companies (IOCs) since the 2006-2008 resource nationalisation campaign.

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