Inspectioneering
News

Petroperu to Complete Modernization of Talara Refinery

Reuters, January 20, 2021
Reuters

The Peruvian government authorized state-run Petroperú to issue up to $1 billion in bonds to complete the modernization of the country’s largest refinery, a resolution from the Ministry of Economy said on Tuesday.

The plan to modernize Talara, on the Pacific coast of northern Peru, is expected to cost a total of $4.7 billion dollars and raise its processing capacity to 95,000 barrels of crude per day from the current 65,000 barrels.

The debt issuance follows Petroperú’s debut in the international debt markets in 2017, when it issued $2 billion on bonds. The latest issuance will not be backed by the state, the ministry said on the website of the government newspaper El Peruano.

The Talara modernization project was 87.11% in March last year and due for completion in the first half of 2021 when the coronavirus pandemic hit, resulting in the suspension of all industry for up to five months.

Petroperú representatives were not immediately available to request further information on the matter.


(Reporting by Marco Aquino; Writing by Aislinn Laing)

Click here to read the full article from Reuters.

Copyright 2021 Thomson Reuters. Click for restrictions.

Comments and Discussion

There are no comments yet.

Add a Comment

Please log in or register to participate in comments and discussions.


Inspectioneering Journal

Explore over 20 years of articles written by our team of subject matter experts.

Company Directory

Find relevant products, services, and technologies.

Talent Solutions

Discover job opportunities that match your skillset.

Case Studies

Learn from the experience of others in the industry.

Integripedia

Inspectioneering's index of mechanical integrity topics – built by you.

Industry News

Stay up-to-date with the latest inspection and asset integrity management news.

Blog

Read short articles and insights authored by industry experts.

Expert Interviews

Inspectioneering's archive of interviews with industry subject matter experts.

Event Calendar

Find upcoming conferences, training sessions, online events, and more.

Downloads

Downloadable eBooks, Asset Intelligence Reports, checklists, white papers, and more.

Videos

Watch educational and informative videos directly related to your profession.

Acronyms

Commonly used asset integrity management and inspection acronyms.