Peru to Help Oil Firms Survive
World Economy

Peru to Help Oil Firms Survive

Peru plans to lower the royalty payments it receives from oil companies by July in order to help them survive the oil price crisis and might allow some to postpone part of their payments, the country’s energy agency, Perupetro, said, Reuters reported. Twenty-nine companies with exploratory contracts and three with extractive rights have declared force majeure as the drop in oil price has sapped profit and financing in recent years, said Rafael Zoeger, the president of Perupetro. Crude oil prices have dropped about 70% from the 2014 high over $100 barrel. Current prices at around $30 barrel have triggered spending cuts as oil companies slash investment in new wells.


Short URL : https://goo.gl/P8y0iC
  1. https://goo.gl/zXYmmO
  • https://goo.gl/9iaWOF
  • https://goo.gl/anWEZu
  • https://goo.gl/ucPmLW
  • https://goo.gl/Kn0nSS

You can also read ...

Curing existing patients also decreases the number of carriers able to transmit the virus to new patients.
Goldman Sachs has outdone itself this time. That’s saying a...
The accumulation of bankruptcy cases means that  it sometimes takes about six months just to get  a new insolvency case admitted to court.
India’s revamped bankruptcy process is in full swing and...
Transnational organized crime is involved in all forms of illicit trade, from human trafficking networks and tobacco smuggling, to trade of counterfeit goods.
Illicit trade in any of its forms—tobacco, pharmaceuticals,...
The vast majority of US businesses are pass-throughs, including those owned by President Donald Trump.
The US' Congressional Budget Office warned earlier this month...
Swiss Investor Confidence Weakest Since Late 2016
Switzerland’s investor confidence deteriorated further in...
Finland’s Nordea Bank Predicts Growth to Stagnate After 2020
Finnish economic growth is set to keep its strong path this...
Argentina Gets 32 Road Project Bids
Argentina says it received 32 bids for six road projects...
Kenya Growth Slows to 4.9%
Kenya’s economy grew by 4.9% last year from 5.9% in 2016, the...