Thursday, June 19

No firesale for Petroperu

Forbes / Reuters Peru Congress bars sale of state oil firm: "Jose Carrasco Tavara, a legislator of the center-left Aprista party who sponsored the measure, said the bill excludes Petroperu from two of four privatization models foreseen in the law used in the 1990s to sell off state companies." Selling off Petroperu would revive a lot of political heat because it was created by the expropriation of a foreign oil company and became a banner for the nationalist regime of General Juan Velasco Alvardo in 1968. These old fires never die out.

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