• 5 minutes Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Starvation, horror in Venezuela
  • 4 hours WTI @ 67.50, charts show $62.50 next
  • 3 hours Mike Shellman's musings on "Cartoon of the Week"
  • 18 mins Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 3 hours Venezuela set to raise gasoline prices to international levels.
  • 8 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 10 hours Renewable Energy Could "Effectively Be Free" by 2030
  • 3 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 3 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 9 hours Corporations Are Buying More Renewables Than Ever
  • 1 day Oil prices---Tug of War: Sanctions vs. Trade War
  • 1 day California Solar Mandate Based on False Facts
  • 14 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 14 hours Again Google: Brazil May Probe Google Over Its Cell Phone System
Alt Text

The Oil Bulls Are Back

Oil markets had a bullish…

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