Latin America Advisor
A Publication of The Dialogue
Is Political Turmoil Curtailing Peru’s Energy Sector?
The turmoil and frequent cabinet shakeups in Peru’s government have involved departments including the Energy and Mines Ministry in which three different people have served as energy minister in recent weeks. When he took office last July, President Pedro Castillo was expected to promote the modernization of state oil company Petroperú and also encourage the country’s transition to becoming carbon neutral. How is the uncertainty in Peru’s government affecting energy initiatives and policy in the country? What are the biggest challenges facing the energy ministry and its leader? How are the most recent developments in Castillo’s cabinet affecting energy investment in Peru?
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Carlos Fernando Herrera Descalzi, former Peruvian minister of energy and mines: “The Ministry of Energy and Mines had been operating almost on autopilot, leaving problems to resolve themselves. The situation came about from a succession of administrations that were constantly changing hands. Not long after he was elected, President Castillo declared: ‘Today there is a critical anomie in the mining, energy and hydrocarbons sector.’ The characterization was markedly exaggerated. But after six months in office, the description now fits reality. In his resignation letter, the outgoing vice minister of mines stated: ‘The energy and mining sector requires officials and technical specialists, conditions that are not being met with the appointment of officials who attained their positions not because of merit or experience, but because they know the right people.’ In six months, four ministers have assumed the energy and mines portfolio, and none of them were…”
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A sister publication of the Inter-American Dialogue’s daily Latin America Advisor, the weekly Energy Advisor captures fresh analysis from business leaders and government officials on the most important developments in oil and gas, biofuels, the power sector, renewables, new technologies, and the policy debates shaping the future of energy in the Western Hemisphere and beyond. To subscribe or for more information, contact Erik Brand, publisher of the Advisor, at ebrand@thedialogue.org.
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