Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

PetroTal working with Peruvian government to resolve river blockade

9th Jun 2023 14:36

(Alliance News) - PetroTal Corp said on Friday that it was working with the Peruvian government to find a resolution to a river blockade that started last week Saturday.

"PetroTal is working with all parties to help the government of Peru generate a rapid, peaceful, and safe resolution to the blockade," the Calgary, Canada-based, Peru-focused oil and gas company said.

PetroTal on Thursday had reported that Puinahua canal in Peru was blocked by the Indigenous Association for Development & Conservation of Bajo Puinahua, preventing all ships providing services to PetroTal.

That day, the Presidency of the Council of Ministers and the Ministry of Energy & Mines held a meeting, inviting PetroTal, with AIDECOBAP to understand claims and to develop a de-escalation plan and reach a resolution.

PetroTal said that the blockade coincided with planned output reductions to tie in previously installed infrastructure and modify production operations to benefit future oil production.

PetroTal said on Friday that DECOBAP have seized and are holding two oil transport convoys.

The first is an empty Brazilian convoy that was travelling to the Bretena field, with a crew of six, and a total capacity of 70,000 barrels of oil. The second was a Peruvian convoy that contained approximately 40,000 barrels of oil and was heading to the Iquitos refinery. It has a crew of eight Peruvian nationals, none of whom are PetroTal employees.

PetroTal said it does not own or operate either convoy, both of which are being held near the town of 7 de Junio.

Shares in PetroTal were down 1.3% at 39.50 pence each in London on Friday afternoon.

By Will Neill, Alliance News reporter

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

FTSE 100 Latest
Value8,173.90
Change-17.39