By Ryan Dube
LIMA, Peru--State-owned oil company Petroleos del Peru SA
(PETROBC1.VL), or Petroperu, is studying the possibility of taking
a minority stake in the Repsol SA (REP.MC, REPYY) La Pampilla
refinery, Prime Minister Juan Jimenez said.
Mr. Jimenez said that no offer has been made. "What the
government has done is express its interest in a possible
investment in this case," Mr. Jimenez said in a televised interview
with Canal N late Tuesday.
Mr. Jimenez said Petroperu is "reviewing the possibility of an
investment, which wouldn't be a majority [stake]."
Recent news reports have speculated that Petroperu made an offer
to purchase Repsol's assets in Peru, which also include the Spanish
company's gasoline stations and cooking-gas-distribution network.
Petroperu said last week its board of directors hasn't given the
green light to make an offer to purchase the assets.
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.
A spokesman for Repsol in Peru was not immediately available for
comment
Mr. Jimenez said the government's interest in buying a minority
stake in La Pampilla is to ensure fuel supply in the Andean
country. "The government is going to decide what is best for the
country," he said.
The news reports have raised some concerns in Peru's private
sector that President Ollanta Humala is looking to increase the
state's role in the economy. In the 2011 presidential election, Mr.
Humala originally ran on a platform that called for a greater state
role in Peru's economy, but he backed away from that position later
in the campaign in order to gain support from Peru's political
center.
Since taking office, Mr. Humala has maintained policies to
promote private-sector investments that have been key to Peru's
robust economic growth during the past decade.
Mr. Jimenez said he has met with various business groups to
ensure them that the government isn't changing its economic
policies.
"There is a lot of nervousness in the private sector," Mr.
Jimenez said. "There isn't any change in economic [policy]. I want
to dismiss that completely."
Write to Ryan Dube at ryan.dube@dowjones.com
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