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Saturday, October 26

Oil and Gas Journal Peru ratifies 30% cut in royalties: "Cueto wants to encourage new exploration because the last major discovery in Peru was in the mid-1980s with the finding of Camisea natural gas fields (OGJ Online, July 11, 2002). Operators of the $1.3 billion Camisea project, 500 km east of Lima, expect to begin producing and transporting natural gas and liquids to Lima by early August 2004." Peru cannot afford to be a net importer of petroleum.



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