• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 16 hours Could Venezuela become a net oil importer?
  • 8 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 19 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 1 hour Oil prices going Up? NO!
  • 16 hours Gazprom Exports to EU Hit Record
  • 17 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 16 hours Could oil demand collapse rapidly? Yup, sure could.
  • 9 hours Oil prices going down
  • 19 hours Why is permian oil "locked in" when refineries abound?
  • 16 hours Oil Buyers Club
  • 19 hours EVs Could Help Coal Demand
  • 7 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 1 day China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 1 day Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 2 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 14 hours Saudi Arabia turns to solar
Alt Text

Russia Boosts Oil Production Before OPEC Meeting

Russia pumped almost 11.1 million…

Alt Text

Will Iran Pursue Relations With North Korea?

Some foreign policy analysts criticized…

Alt Text

Is Russia Bailing On The OPEC Deal?

Russia, the world’s largest oil…

Southern Pulse

Southern Pulse

More Info

Trending Discussions

Peru at a Hydrocarbons Crossroads

Analysts searching for leading indicators of Peru's political direction need look no further than the country's oil sector. Recent events have demonstrated that, like many of its neighbors, Peru is at a crossroads between sustainable democratic development and economic growth. The country's management of its hydrocarbon resources may well serve as a microcosm of things to come.

From the 1968 expropriation of the International Petroleum Company's assets in Peru under the left-wing military dictatorship of Juan Velasco Alvarado well into the 1990s, Peru's oil sector was concentrated in the hands of Petroperú, the state-owned oil firm. The company held a monopoly on all oil and gas industry activities. The limits of this model became apparent in the late 1980s as the firm's revenues declined and Peru became a net oil importer.

With the election of the conservative Alberto Fujimori in 1990, the sector changed dramatically. Fujimori shook up the firm's management and opened the country's resources to private firms. In 1993, Fujimori created Perupetro (henceforth the National Hydrocarbon Agency, NAH, to avoid confusion) a state-owned enterprise dedicated to the administration of oil and gas resources and the maintenance of contracts with private firms.

The neoliberal model of the Fujimori years, both broadly speaking and in the oil sector in particular, remains the dominant paradigm in Peru. Driven by the primary commodities export sector, it has brought…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News