Peru aims to privatize up to 49pct of state oil company

[Judi Lynn]

Peru aims to privatize up to 49pct of state oil company
Sunday, 08 December 2013 04:09
Posted by Abdul Ahad

LIMA: Peru's state oil company would be allowed to privatize up to 49 percent of Petroperu through share offerings on the local stock market under a bill soon to be submitted to Congress, a top official said on Saturday.

Energy minister Jorge Merino told local radio the measure is aimed at modernizing Petroperu and expanding its refining capacity.

"The bill would allow Petroperu to use private capital to increase efficiency and quality," he told RPP radio.

A government source, who asked not to be named, said the bill was expected to be submitted to Congress early next week and that debate would be fast-tracked due to its high priority.

More:
http://www.brecorder.com/markets/energy/america/147741.html

[FrodosPet]

1. They should get the money and then expropriate Petroperu

Thanks for the cash, capitalist trash. Now we will be taking our oil company back.

They should learn a lesson from Venezuela. Wash, rinse, repeat until every commercial entity in Peru is owned by the national government.