UPDATE 2-Petroperu pulls plans for share in two oil concessions

jueves 26 de marzo de 2015 15:17 GYT

(Adds energy policy context and analyst comment, paragraphs 4-6)

By Marco Aquino

LIMA, March 26 (Reuters) - State energy firm Petroperu on Thursday pulled out of plans to acquire a 25 percent stake in two oil blocks that it had planned to develop with conglomerate Grana y Montero, Petroperu said in a statement.

The reversal marks a shift in President Ollanta Humala's ambitions for Petroperu to take part in oil production for the first time in more than 20 years.

Leaders from the Petroperu workers union said on Wednesday that the company's board was under pressure from the government to drop shares in the concession.

Oil industry insiders based in Peru said Humala's energy strategy had been tainted by erratic policymaking during his less-than four years in power. In that time, he has named four Petroperu presidents including a new one last week, and also just appointed a new energy minister.

"This bodes ill. What we see is a lack of consistency in energy policymaking," said Aurelio Ochoa, a former head of the industry regulator earlier in Humala's presidency.

Ahead of Petroperu's announcement, union leaders said workers would hold an indefinite strike if the firm back-tracked on its plans. They said the government wanted to prioritize a $3.5 billion upgrade of the Talara refinery.

Petroperu's board of directors agreed in February to take up its option of a maximum 25 percent share in blocks 3 and 4, which Grana y Montero won the rights to develop in December.   Continuación...