5.000
%
Uncertain
50
mm boe
28
%
Peru has restructured its hydrocarbon sector with a focus on transparency, but the approvals process remains arduous. Chronic political instability, including the removal of President Boluarte in 2025, and repeated bailouts of Petroperú weigh on the outlook ahead of the new government. Outlook maintained because political instability continues to cloud policy. Outlook: Uncertain. Risk premia unchanged at 5%.
October 7, 2026
Americas - South
mm bbl
bcf
Western South America, bordering the South Pacific Ocean, between Chile and Ecuador.
Multiple (PSC/Concession)
Oil and gas exploration and production (E&P) activities are conducted under license or service contracts granted by the Government of Peru. The Government guarantees that the tax law in effect on the agreement date will remain unchanged during the contract term.
Congress removed President Dina Boluarte in October 2025, and José Jerí became Peru's seventh president in under a decade, ahead of the April 2026 general election. US and UK guidance cite chronic political instability, rising crime and extortion, and social conflict around mining, partly offset by sound macroeconomic institutions. The EIA notes that Camisea supplies most of Peru's gas and LNG exports. Oil output is small, and the state oil company, Petroperú, required repeated bailouts after the Talara refinery upgrade.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
© 2024 Oil & Gas Advisors Limited
Website by Rugby Web Design
