Weekly Report - 27 March 2014 (WR-14-12)

PERU | Petroperú share sale. On 24 March the government published guidelines governing the sale of up to 49% of shares in the state-owned oil firm, Petroperú. In December last year congress approved a proposal by the government to open up Petroperú to private participation for the first time as part of plans to reorganise the firm in order to strengthen its corporate governance and help raise funds to conduct the proposed US$3.5bn upgrade of Petroperú’s ageing Talara refinery; increase its fuel production levels form 65,000 barrels per day currently to 95,000bpd; and eventually cut some of the country’s fuel imports.