In These New Times

Jan. 23 (Bloomberg) — Bolivian President Evo Moralessigned a decree today nationalizing BP Plc-controlledEmpresa Petrolera Chaco SA “in its entirety,” according to remarks he made today that were broadcast on Bolivian state television.

Chaco is 60 percent owned by London-based BP, according to the British company’s Web site. Argentina’s Bridas Group and Bolivian pension funds also own stakes, according to BP. In 2007, Chaco produced 42,800 barrels of oil and natural gas equivalent a day from 10 fields, according to Chaco.

Morales has budgeted $43.1 billion for the takeover of energy companies in the country, according to ABI, the government’s official news agency. Since taking office in January 2006, he has sought to increase state control of natural resources.

To contact the reporter on this story: Jonathan J. Levinin La Paz at Jlevin20@bloomberg.net; Jeb Blount in Rio de Janeiro at jblount@bloomberg.net