Six Firms Eye Investing In Peru Petrochemical Complex

Six international companies are interested in participating with Peru’s state-owned Petroperu to develop a petrochemical complex on the country’s southern coast, according to Petroperu’s general manager, Pedro Mendez. “We are receiving visits from six companies worldwide that are very interested in talking with us about analyzing different areas of participation in the petrochemical complex,” Mendez [...]

CAF Looking To Provide Financing For Southern Pipeline

The Andean Development Corporation, CAF, is interested in providing some of the financing for the Southern Andean Gas Pipeline, which will be operated by Kuntur Transportadora de Gas, owned by Odebrecht of Brazil and Conduit Capital Partners of New York. CAF’s representative in Peru, Ricardo Campins, said the Ministry of Economy and Finance has asked the regional organization [...]

Peru’s Romulo “the rat” León moved from jail to house arrest

Peru’s once-Most Wanted man, Romulo “the rat” León Alegría, was released from jail on Monday, after a local court ruled that he could be put under house arrest. On June 2, 2009, Lima’s Third Penal Court reverted León’s sentence from jail detention to home confinement. The controversial decision sparked immediate criticism from across Peru’s political [...]

Peru annuls five Discover Petroleum oil contracts amid alleged concession kickbacks

A full-fledged scandal over alleged oil kickbacks has forced the ouster of Peru’s Energy and Mines Minister Juan Valdivia, as well as two top state oil company executives, and led the government to suspend five joint exploration and development contracts recently awarded to state-owned oil company Petroperu and Discover Petroleum of Norway. “We consider it very [...]