By Robert Kozak
LIMA, Peru--State-owned oil company Petroleos del Peru, or
Petroperu, said Tuesday that its board hasn't authorized making any
offer to purchase assets of Spain's Repsol SA (REP.MC) in Peru.
Various news reports recently have speculated that Petroperu
made an offer for Repsol's gasoline stations, La Pampilla refinery
and a cooking-gas-distribution network.
"In accordance with our statutes, the board of directors can
decide on a purchase of assets or shares of other companies, and at
present there is no agreement of the board of directors that
authorizes the company to purchase the aforementioned assets,"
Petroperu's Director General Luis Lem Arce said in a statement.
The newspaper, Gestion, citing unnamed sources Tuesday, said an
offer had been made on the part of the state to purchase Repsol's
assets by a five-member Petroperu shareholders group, which
includes the Minister of Energy and Mines, the Minister of Finances
and deputy ministers.
That shareholders group is different from Petroperu's board of
directors.
In January, Energy and Mines Minister Jorge Merino said that the
government was interested in buying some 200 gas stations owned by
Repsol.
He said that the government wanted to use the stations to expand
the supply of natural gas for vehicles outside of the capital,
Lima.
Repsol's La Pampilla refinery has a capacity of 102,000 barrels
a day.
Repsol has been selling some of its assets, and earlier this
year, it sold off a minority holding in Peru LNG, which produces
liquefied natural gas.
Petroperu, meanwhile, is involved in an upgrade of its Talara
refinery.
Petroperu currently runs refineries, a pipeline and leases gas
stations, in addition to other businesses.
Write to Robert Kozak at robert.kozak@dowjones.com
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