Peru’s Oil Industry Is Engulfed In Crisis ...Middle East

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Peru’s Oil Industry Is Engulfed In Crisis
source : OILPRICE ( Middle East ) () 14
A combination of sharply weaker oil prices, inconsistent regulation, the COVID-19 pandemic, and constant conflict in the Amazon where most of Peru’s onshore oil industry is located has triggered a crisis that has brought the industry to the brink of collapse. This was recently recognized by Peru’s National Society of Mining, Oil, and Energy (SNMPE – Spanish initials) which released a media statement (Spanish) asking the central government to implement measures to reverse the crisis. Lima has long downplayed Peru’s considerable…

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