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

China National Petroleum (PTR) plans to invest at least $2B in Peru over the next 10 years after having recently bought Petrobras' (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.

Comments (1)
  • miriam ledwith
    , contributor
    Comments (308) | Send Message
    And when there is an accident and the environment is adversely affected, I am sure that China will have an open check book and will be willing to make everything right. Good luck with that. mnl
    28 May 2014, 09:04 AM Reply Like
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