Petroperu to start Talara refinery upgrade in July


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 crude.

Petroperu currently runs refineries, a pipeline and leases gas stations, in addition to other businesses.

Dow Jones Newswires

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