Tanker explosion in northern Peru causes injuries and oil spill

Explosions on an oil tanker in northern Peru and a subsequent fire on the ship injured at least 15 people and caused an oil spill 30 km offshore from Zorritos, Tumbes Deparment, on the north coast near Ecuador. The Supe, a 1400-ton, Class C tanker, was on lease from the Peruvian navy to the oil [...]

García: Repsol YPF reports natural gas discovery

President Alan García announced Monday that the Spanish-owned Repsol YPF oil company has found more than 2 trillion cubic feet, TCF, of natural gas in Peru’s southern Cusco department. Repsol YPF reportedly discovered the reserve in the Kinteroni well, one of four in Block 57, located north of the Camisea nastural gas reserves in Block [...]

Pluspetrol: Camisea gas reserves larger than original estimates

The Pluspetrol oil company has told Peruvian authorities that the Camisea natural gas fields hold about 20 percent more reserves than originally estimated. The gas fields were believed to contain 10.86 trillion cubic feet, TCF, of natural gas. But according to daily El Comercio, Pluspetrol told the Energy and Mine Ministry the reserves contain 13.40 [...]

Second bank approves loan for Peru gas project

The U.S. Export-Import Bank, Ex-Im, approved a $250 million loan for the second phase of the Camisea gas project Friday, following the lead of the Inter-American Development Bank which brushed off environmental and social concerns by approving a $400 million loan. The loan will partially fund a natural gas liquefaction plant and other infrastructure on [...]

Inter-American Development Bank approves $400 million loan for Peru gas project

The Inter-American Development Bank, IDB, approved a $400 million loan for Peru’s Camisea gas project today, brushing off appeals from environmentalists who insist it will do irreparable harm to the fragile jungle eco system and its indigenous inhabitants. The project consortium, headed by Texas-based Hunt Oil, will use the loan to begin construction of a [...]