Paraguay launches oil exploration in Chaco region


Eight decades after fighting a brutal war fueled in part by expectations of oil finds, Paraguay is launching a bid to make its first major oil discovery on the same semi-arid terrain, torn between hopes for energy independence and fears of what drilling could bring. President Federico Franco on Dec. 5 ushered in what he called a new era at the official launching of oil exploration at Neuland Colony in the vast western territory known as the Chaco near the border with Argentina. Standing with officials of President Energy, the London-based oil and gas firm that will carry out the exploration, he spoke emotionally of the Chaco War of 1932-35, when Paraguay battled Bolivia for control of the Paraguay River and the allegedly... [Log in to read more]

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