LatinNews Regional Monitor: Andean Group - 27 April 2017

Bolivia: Bolivia’s state-owned oil company, YPFB, has formally dissolved a contract signed in April 2016 with Italy’s Drillmec SpA for the purchase of three drilling machines. The decision follows the announcement last month by the head of the transparency unit at the hydrocarbons ministry, Edmundo Novillo, that he had found legal, administrative, and technical irregularities in the purchase of the equipment. So far 16 people have been charged with corruption in relation to the case – 15 YPFB officials, including the firm’s vice-president Jorge Soza, all of whom were fired on 19 April, and one Drillmec employee.

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