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Peru Ministry of Energy and Mines Repeals Oil Licenses to Tullow Oil

President Martín Vizcarra’s administration repealed decrees signed by his predecessor granting Tullow Oil licenses to five offshore oil blocks covering 28,000 square kilometers.

The licenses were granted by executive decree by then-President Pedro Pablo Kuczynski the day that he resigned from office.

The government emphasized that its recent actions do not indicate an opposition to investment in Peru, according to El Peruano.

“We want the country to develop investments in peace and tranquility, and it can be done by starting a project well with the appropriate consultation,” said César Villanueva, president of the Council of Ministers.

On Wednesday, Peru‘s Ministry of Energy and Mines released a statement saying that the actions by the previous administration did not align with the Vizcarra government’s priorities.

The ministry said that one of the government’s main objectives is “is to build political and social consensus to generate a climate of stability and social peace” by guaranteeing access to information and citizen participation in the process.

“In addition, the Government considers it important to promote investments in our country in order to generate the necessary resources to fight against poverty and provide well-being to all Peruvians,” said the Ministry.

“For these purposes, the Government will provide a new framework that will regulate the processes of citizen participation in hydrocarbon activities.”

The new citizen participation process will be developed by the state-owned oil company, Petroperu.

The statement concluded by emphasizing the ministry’s “absolute conviction that Peru needs to take advantage of its natural resources in a sustainable manner, acting responsibly and with balance, and protecting the citizens, as well as the investments that support these principles.”

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