(Reuters) - A Peruvian judge on Tuesday admitted a $4.5 billion lawsuit against Spanish oil firm Repsol SA (REP.MC), eight months after an underwater oil pipeline owned by the company caused a spill of over 10,000 barrels into the Pacific Ocean. The civil lawsuit seeking $3 billion for environmental damage and $1.5 billion for damages to... Continue Reading →
Petroperu requests emergency declaration after pipeline attack
(Reuters) - State-owned Petroperu asked the government to declare a state of emergency for a major crude oil pipeline late on Friday, after it suffered a series of cuts in an Amazonian region of the country that it described as "an unprecedented attack." Petroperu confirmed an oil leak in a statement, adding that the spill... Continue Reading →
Ecuador’s Oriente crude exports suspended, Napo flowing amid force majeure
(Reuters) - Exports of Ecuador's flagship Oriente crude remain suspended under a force majeure declaration as the spread of anti-government protests hurts oil output, state-run Petroecuador said on Wednesday. At least eight people have died and road blockades have led to food and medicine shortages. The crisis has halved oil output, the country's main source... Continue Reading →
Petroperu to file financial audit by September after nod from bondholders
(Reuters) - Peruvian state oil company Petroperu said on Tuesday it would present the long-delayed audit of its 2021 financial statements by September, following approval from its bondholders. Petroperu was supposed to present the paperwork by May of this year but failed to do so when accounting firm PwC declined to carry out the audit... Continue Reading →
In Latam, Peru streaks ahead in LNG race to Europe as Trinidad stumbles
(Reuters) - As liquefied natural gas (LNG) producers try to take advantage of a global energy shift triggered by Europe's move to become independent from Russian gas, Latin America's only two LNG exporters are moving in opposite directions. In Peru, LNG shipments are ramping up fast with special emphasis on Europe, where a combination of... Continue Reading →
Global energy crunch stirs hope of oil reboot in Peru’s Amazon – long read
(Reuters) - Peru's government wants to ramp up oil production in some of its dormant Amazonian fields as global crude prices soar on supply fears linked to Russia's invasion of Ukraine. Among the areas prime for a reboot is Block 192, the Andean country's largest - and leakiest - field. Located deep in the Amazon... Continue Reading →
EXCLUSIVE Petroperu to miss deadline for financial audit, seeks bondholder reprieve
(Reuters) - Peru's embattled state-owned oil firm Petroperu (PETROBC1.LM) will not submit its annual financial audit before the end of July, new Chief Executive Francisco de la Torre told Reuters on Tuesday, meaning it will miss a key May deadline to present the document. Petroperu was downgraded earlier this month to junk by credit agencies after accounting... Continue Reading →
Repsol Beats Forecasts Thanks to High Oil and Gas Prices
High oil and gas prices helped Spain's Repsol REP.MC to post earnings above market expectations on Thursday, giving it more financial firepower to spend on low-carbon operations investors are increasingly demanding of energy companies. Benchmark Brent crude oil LCoC1 and Henry Hub gas rose 70% and 86% respectively during 2021 as tight gas supplies collided... Continue Reading →
Repsol’s Offshore Oil Unloading Ops Banned in Peru after Oil Spill
(OE) Peru Environment Minister Ruben Ramirez said on Monday the government will temporarily suspend Repsol's offshore oil unloading operations following a spill of over 10,000 barrels that has caused widespread environmental damage. Ramirez said the suspension of operations would last until the company "can offer technical guarantees that another spill will not happen." "In addition,... Continue Reading →
Peru Prosecutors Seek Travel Ban for Repsol Execs amid Offshore Oil Leak Probe
(Reuters) Peruvian prosecutors requested on Thursday that the president and three other executives of Spanish oil firm Repsol SA's local refinery be barred from leaving Peru for 18 months while a probe into an oil leak is under way. Repsol's La Pampilla refinery, Peru's largest, leaked thousands of barrels' worth of oil off Peru's central... Continue Reading →