Petroperu, a state-owned energy company will stop its operation and connection with Talara, an oil refinery for a year starting this month of November. As such, they will complete an expansion worth 5 billion as the company stated last Tuesday. It begins to repair at 193 km of the northern branch of the north Peruvian pipeline. This expansion also aims to fix the several major leaks that were brought to the Amazon.
Their plans are to import fuel in that time span in order to comply with the demands of Andean country of 30 million in population, but there is no specific fuel on which they will import.
Petroperu mentioned that they will still buy oil from other companies that reside in the country, and they will still process oil in the refinery (Conchan).
Talara is the second largest oil refinery in Peru. As the project upgrades the said refinery, it is expected to gain a capacity of up to 95, 000 barrels of oil per day, which is bigger than the 65, 000 previous.
Peru is one of the top countries that imports oil. Once the expansion is complete according to petroperu, the import will fall in significant which will make them back as to the suppliers of the oil in the country. In this manner, Petroperu advances into modernization. Hence the oil industry, it manages to reach the goal of meeting the standards for oil refining.
On the other hand, the oil company dives deeper into debt as it receives $1.3 billion for this refinery project. Petroperu, being passive regarding this matter, still has the goal for expansion and meeting the needs of clients and other oil companies that are in partnership with them. The company expresses its deep commitment to work and finish the expansion. They mentioned that by early next year, they will start again with their operation, targeting other companies to join them.