REPYY - Peru halts Repsol offshore oil loading activities at La Pampilla refinery

Peru's government said it suspended Repsol's (OTCQX:REPYF, OTCQX:REPYY) oil-loading and offloading operations at the La Pampilla refinery, saying the company has not provided enough guarantees that it could prevent future oil spills after the recent spill of more than 10K barrels caused widespread environmental damage. The ministry of environment said the suspension would remain until Repsol "can offer technical guarantees that another spill will not happen," while the company called the decision "disproportionate and unreasonable" but that it would "make every effort to avoid the risk of shortages of essential products for Peruvian citizens." Repsol has said 35% of the oil spilled has been recovered but that it would not finish the cleanup until late February. The 117K bbl/day La Pampilla refinery is the largest in Peru, and the plant accounts for 40% of the Peruvian fuel market. Repsol has blamed the spill, which occurred January 15 off the coast

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Peru halts Repsol offshore oil loading activities at La Pampilla refinery