LatinNews Daily - 13 April 2022

In brief: Major new oil refinery inaugurated in Peru

* Peru’s President Pedro Castillo has inaugurated a new oil refinery, the Nueva Refinería de Talara (NRT), operated by state oil company Petroperú in Talara province, in the northern region of Piura. The NRT will be capable of processing up to 95,000 barrels of crude per day, giving it a productive output that is 50% greater than the previous plant in Talara that it has replaced. Describing it as “one of the most important infrastructure works” in Peruvian history, Castillo said that the refinery would increase Peruvian energy security at “a time of global energy crisis” due to Russia’s war in Ukraine. A statement from Peru’s mining and energy ministry (Minem) noted that the NRT “will lead to a considerable reduction in fuel imports”, generating estimated savings of between US$2bn and US$3.9bn per year for the hydrocarbon sector.

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