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Colombia, Korea Firms Take Peru Oil Asset

Feb 8, 2009

Colombia’s Ecopetrol and Korea National Oil Corp (KNOC) have acquired Offshore International Group, a Houston-based company whose main asset is Petro-Tech Peruana, for $900m. Each buyer is acquiring a 50% stake. Ecopetrol, which had announced...

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"[While] it’s good to build more infrastructure and increase investment, you have to be conscious about the macro effects of too big an increase in domestic demand, including of course public expenditure."

Julio Velarde, Peru central bank


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