Peruvian State collected US$475 million from hydrocarbon production as of April 2023

Peruvian State collected US$475 million from hydrocarbon production as of April 2023

LIMA, May 24 (NNN-ANDINA) — Revenues to the Peruvian State from hydrocarbon (gas and oil) production amounted to US$475 million between January and April this year, an amount that reflects the importance of this sector for the country’s economy, Perupetro reported on Tuesday.

Of this amount, US$466 million corresponded to the payment of royalties from license contracts for hydrocarbons production, it indicated.

In this case, US$247 million was linked to natural gas production, followed by US$149 million (natural gas liquids production) and US$70 million to oil production in Peru.

The royalty is the economic compensation established by law, through which companies are obliged to pay the Peruvian State for the right to exploit hydrocarbon resources, such as oil and gas, in Peru, the State-run organization explained.

Royalties are calculated according to the production value based on the royalty percentage established for each contract, it indicated.

For their part, revenues from the sale of hydrocarbons from service contracts amounted to US$9 million in the January-April period of this year, Perupetro said.

During 2022, revenues to the Peruvian State from hydrocarbons production amounted to US$1.847 billion.
From 1993 to date, said revenues total US$24.30 billion.

Perupetro is the State-run company responsible for promoting, negotiating, underwriting, and monitoring contracts for exploration and exploitation of hydrocarbons in Peru.

— NNN-ANDINA

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