Peru Energy

Several industry reports have illustrated the growing optimism in the short-term development of the international hydrocarbons sector. Although there is an overall optimism globally, the outlook in Peru is mixed with the advancement of certain projects and the stalling of others. In early 2018 the Peruvian government awarded new exploration...

After a period of relative stagnation that ended with a pickup in metals prices in 2016, investment in mining is growing, with nine projects to begin construction in 2018. Efforts to streamline procedures and a strong performance in international rankings will likely help support the image and competitiveness of the sector as works move ahead...

In 2017 global energy demand grew by 2.1%, up from 0.9% the previous year, according to the International Energy Agency. This growth is largely explained by the increase in demand for fossil fuels, renewables and, to a lesser extent, nuclear energy. Peru is following this global trend, with a slight increase in energy demand and lower costs...

While investors have typically been drawn to Peru by the fact that it is the world’s second-largest copper, silver and zinc producer, as well as the third-largest for tin, the country’s iron ore reserves have recently attracted China’s attention.

Contributing around 10% to GDP in 2017, the mining sector is fundamental to Peru’s economy, accounting for significant levels of foreign exchange and tax revenues, as well as the creation of direct and indirect jobs. Favourable legal and tax regimes, low production costs and an abundance of natural resources all contribute to increasing...

According to the “Climatescope 2016” report, which asses the ability of countries to attract investment for low-carbon energy sources, Peru is currently one of only a handful of countries in Latin America with a mandatory renewable energy target, assumed to be revised every five years. In 2008 the Ministry of Energy and Mines (Ministerio de...