By ROBERT KOZAK
LIMA, Peru -- The president of state-owned oil company
Petroleos del Peru S.A., or Petroperu, said a project to upgrade and modernize the
Talara oil refinery will begin in July.
Hector Reyes said in a posting to the Peruvian securities
regulatory agency late Tuesday preliminary work on the $2.7
billion project has already started.
The government plans to reduce levels of sulfur and allow
the aging refinery to refine heavier
Petroperu currently runs refineries, a pipeline and leases
gas stations, in addition to other businesses.
Dow Jones Newswires