Houston — Peru will develop its ability to achieve energy self-sufficiency, the South American country’s energy minister said on Wednesday, calling it important to reduce fuel import costs.
Peru is working on terms for a renewable energy projects auction next year, said Minister of Energy and Mines Eduardo Gonzalez Toro at the World Petroleum Congress in Houston. The country also aims to introduce a dynamic royalty model for oil and gas industries and new terms for exploration and production activities, he said.
- Reuters (Reporting by Marianna Parraga Editing by Chris Reese)
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