Peru repeals Tullow Oil laws signed as Kuczynski quit presidency
Peru’s President Martin Vizcarra repealed decrees permitting London-based Tullow Oil Plc to begin exploration at five offshore oil blocks, in a move criticized by the industry as creating uncertainty for investors.Explaining the government’s decision to revoke the contracts signed by Pedro Pablo Kuczynski the day he resigned, the Energy & Mines Ministry said the public hadn’t been adequately consulted on the proposed investments. The government’s oil contracts agency approved the licenses for Tullow on Dec. 20.Kuczynski signed the laws March 21 as he quit amid allegations he sought to buy votes to avoid impeachment. Fishermen worried that oil exploration will damage fishing grounds blocked roads in the north of Peru in a protest last month,.....