New Hydrocarbons Policy in Peru
Article from: OGEL 2 (2003), in Roundup of Articles
Summary
Given the slowdown of the Peruvian hydrocarbons sector in recent years, the Government launched an aggressive campaign to promote private investment in hydrocarbons in mid-2002. Elements of this campaign include a reduction in royalties payable to the Government, less rigid terms and conditions for petroleum exploration and extraction contracts, and a refund of the general sales tax on exploration, among other measures. This promotional policy is part of Peru's economic reform program that began in the early 1990s. At that time private investors were invited to participate in ...