Peru told to suspend talks about oil until pollution is redressed

14/07/2017 10:31 Oil Market

news

Peru was told to cease negotiations for new oil rig in the Amazon until prior pollution was eliminated on Thursday by UN human rights experts. 

Peru is currently in talks with Canada’s Frontera Energy Corporation, who administers Block 192, about prolonging the contract, but because Peru failed to clean up the oil spills in the zone and failed to secure the safety of the aboriginal population, UN specialists assigned to delve into the human rights issue remarked that the Peruvian government must cease all arrangements with companies until the consent of the indigenous groups is ensured, and all environmental hazard has been eliminated.


In the past years, the government has announced multiple environmental emergencies in the region due to oil spills, and has accused unknown parties of acting maliciously towards them.


This year Block 192 has seen a severe drop in its oil production – only 2,565 barrels per day compared to their usual 10,000. In June the company reached a compromise with the indigenous people. The company promised to pay them for the use of their land and fund community initiatives.

Poland reached record gas exports to Ukraine

15/01/2018 11:37:00

According to Polish oil and gas firm PGNiG, Poland’s natural gas deliveries to Ukraine doubled in 2017 to reach over 700 million cubic meters.

<READ MORE

EU more reliant on Russian gas despite diversification efforts

15/01/2018 11:09:00

Russian major energy company Gazprom, supplied Europe with record amount of gas, despite cold diplomatic relations between Russia and the European Union.

READ MORE

Daily (15.01.2018): UK day-ahead gas contract surged by 2.3% on Friday due to higher demand

15/01/2018 10:05:00

Oil prices surged on Friday, remaining on track for a fourth consecutive week of gains, bolstered by a drawdown in U.S. inventories and a pullback in production, combined with steady demand and the extension of OPEC’s global supply cut deal.

READ MORE