China's CNPC plans to invest at least $2B in Peru after Petrobras deal

• China National Petroleum (NYSE:PTR) plans to invest at least $2B in Peru over the next 10 years after having recently bought Petrobras' (NYSE:PBR) assets in the country, the head of CNPC's Latin American division tells Reuters.
• Peru already has approved an environmental permit allowing CNPC to conduct $1B of exploratory work in a natural gas block purchased from PBR, and China's top oil producer is eyeing a $4B gas pipeline project in southern Peru.
• CNPC has expanded is presence in Latin America over recent years with operations in Colombia, Ecuador, Cuba, Brazil, Costa Rica and Venezuela.