LIMA – Petroperu is weighing continued imports of crude oil to supply the refinery in Talara, located 1,200 kilometers (745 miles) north of Lima and currently being upgraded, said the state-owned company’s CEO, German Velasquez.
The main source of crude for the refinery is the Norperuano pipeline, which runs from wells in the Amazon jungle to the Pacific coast, but “there are also foreign supply sources,” Velasquez said.
Import levels will be managed “in accordance with the international price of the raw material,” the Petroperu CEO said.
The possibility of linking the pipelines in Peru and Ecuador is “extremely interesting” because it would contribute to South American regional integration in the petroleum distribution area, Velasquez said.
The Talara refinery is being modernized at a cost of $3.5 billion, with completion of the upgrades expected in 2019, when refining capacity will reach 95,000 barrels per day (bpd), or nearly 50 percent more than its current capacity, the Petroperu CEO said.
No date has been set for a Petroperu sharing offering and a stock sale will not happen until “the company is sufficiently attractive to have a successful outcome,” Velasquez said.