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Legislature Calls for State Control of Peru’s Largest Oil Block

ISSN:1060-4189
LADB Article ID: 79769
Category/Department: Peru
Date: 2015-09-18
By: Elsa Chanduví Jaña

Peruvian lawmakers have again rallied against an executive initiative, this time by challenging a decision to award Canadian company Pacific Exploration & Production Corporation a contract to operate and develop Lot 192, the country’s biggest oil block. Congress ordered that the contract be given instead to the state oil company Petroperú—for a period of 30 years. Petroperú’s current activities include the distribution, refining, and sale of petroleum derivatives. The vote took place Sept. 3. President Ollanta Humala has 15 days to decide whether to enact the congressional decision. The last such challenge to the executive occurred in late January, when Congress voted to repeal Ley 30288, which created a special labor regimen that scaled back rights for young workers. In that case, Humala bowed to legislative pressure and, exactly one day later, signed the annulment of the law.

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