35695
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 ...

Poland to Maintain Solid Growth
Polish economy’s all significant macro fundamentals appear...
While the tariff conflict may still be in its infancy,  global trade growth rate has almost halved.
The global economy will continue to expand strongly in the...
Zimbabwe is in arrears of nearly $1.8 billion  to the World Bank and ADB .
The International Monetary Fund Thursday said it was ready to...
Imran Khan Says Economic Revival a Priority
Pakistan Prime Minister Imran Khan on Thursday said that the...
King Khaled International Airport
Saudi Aramco may have grabbed the biggest headlines, but the...
Wells Fargo Will Cut Workforce
Wells Fargo & Co said on Thursday it would reduce its...
Global Stocks Hit 6-Month High
World shares hit their highest levels in more than six months...
Premier Li Keqiang has  voiced confidence in China’s ability to overcome obstacles.
Chinese officials are shrugging off warnings that the trade...

Trending

Googleplus