The Minister of Energy and Mines, Eduardo González Toro, announced yesterday that they are going to promote measures so that Petroperu assumed the operations of the oil lots located in Loreto.
“We have already recovered Lot 1. On December 30 we signed the decree for the recovery of Lot 192 and 64,” he indicated, noting that what they seek is to increase the state oil company’s market share.
“40% of the market is held by Petroperú, the other 40% by Repsol and 20% by other companies. We think that in the course of five years, Petroperú should dominate the market in order to have cheaper gasoline and oil than it costs now,” he added.
Likewise, he pointed out that they work in the promotion of private investment because only three of the 14 oil basins that Peru has are exploited.
The minister assured that, with regard to investments in the hydrocarbon sector, next week they will have meetings with Russian and Egyptian businessmen.
On the other hand, he referred to the mining and indicated that there are 70 requests for different investment projects with more than seven years waiting for the approval of the ministry and that they hope to resolve this year.
He assured that these requests have been paralyzed for seven years. “It’s been seven lean years,” she added.
Similarly, the official did not rule out that later contracts with mining companies be renegotiated.
“The times are difficult now and we have to move forward with the negotiations (…). At some point we will have to renegotiate royalties, contracts, ”she specified.
QUESTIONING
The mining and energy law expert, Anthony Laubruled on all the points pointed out by the head of Energy and Mines and indicated that “it seems that he does not know the sector.”
“First, if he wants to increase Petroperú’s share, which is 40%, he has to make it compete freely with the rest of the country’s fuel suppliers.unless it establishes a market share, but that is unconstitutional,” said Laub, who is also a columnist for Peru21.
For Laub, what should be done with the state company is to “close it” for various reasons such as “wasting more than US$5,000 million in the new Talara refinery.”
“They are trying to enter the farm without having the capacity or the money to do so. They want to enter to massify natural gas via distribution and they do not have the experience and they also want to enter renewable energies. That is to say, they want to turn it into an almighty that works late, badly and never, ”he added.
Regarding the mining issue, Laub indicated that if the renegotiation of contracts is insisted on, they can generate a distancing from mining investments. “This is a man (the minister) who does not understand anything about the market,” he commented.
Data
-The Minister of Energy and Mines indicated that the massification of natural gas in Ucayali, Ayacucho, Cusco, Puno, Junín, Huancavelica and Abancay will conclude in two years.
-This year they expect to have more than 1.8 million residential users of natural gas.
– He indicated that two public auctions of renewable energy will be convened, representing an investment of US$2,000 million.
