PERU MARKS PROGRESS IN PRIVATIZING PETROLEUM

Peru continues to make strides in privatizing its petroleum sector. Effective Nov. 18, the country has a new state petroleum company, Perupetro SA, set up to oversee new and existing contract responsibilities of Petroleos del Peru SA (Petroperu), which is to be privatized next year. Until privatization is complete, Petroperu will continue to operate its oil field, refining, transportation, and marketing assets.

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