Pluspetrol says losing $2.4 mln/day in Peru protest

LIMA, Peru (Reuters) – Argentine oil company Pluspetrol said on Saturday it was losing about $2.4 million a day in revenue after suspending operations this week because hundreds of indigenous protesters occupied its oil wells.

Pluspetrol has said some of its workers were being held hostage at its oil fields in the Amazon region of northern Peru by the protesters, who say the company is damaging the environment.

The government is mediating between the company and the Achuar Indian community to try to bring an end to the protest, which began more than two weeks ago, but talks continued on Saturday without coming to a resolution.

“At this moment we have stopped producing some 40,000 barrels per day, at $58 or $60 per barrel, that means lost sales of $2.4 million a day approximately,” Roberto Ramallo, general manager of Pluspetrol Norte, told Reuters.

Reuters