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Article: Petroperu to Remain State-Owned; Private Investment Welcome.
- Article from:
- The Oil Daily
- Article date:
- June 20, 2003
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Reflecting widespread social opposition to the privatization of public companies, Peru's Congress voted Tuesday against the sale of the country's state oil company Petroperu, although lawmakers provided formulas for private participation in exploration and development, a company spokesman told Oil Daily.
Peru's Congressional Permanent Committee voted 15-2 for the exclusion of Petroperu from the privatization model of the 1990s that allows for the sale of state companies. The resolution now has to be approved by President Alejandro Toledo in the next two weeks.
Private oil firms interested in entering Peru's oil market will be able to do so through joint ...