Chancellor defends oil agreement

The Chancellor Rafael Roncagliolo yesterday defended the agreements between Peru and Venezuela concerning oil to the criticisms by a business leader Peruvian.

Roncagliolo said in an interview with the radio station Radioprogramas signed agreements to open a new window of opportunity for investment to Peru.

The President Ollanta Humala met with his Venezuelan counterpart Hugo Chávez during his visit in Venezuela the weekend, during which signed cooperation agreements to establish mechanisms for assistance in transport, storage, refining and marketing of hydrocarbons.

Chavez announced the future participation of the company Petróleos el Peru (Petroperú) an investor in the Eastern strip of el Orinoco.

Roncagliolo clarified that the agreements reached do not imply that Petroperú will allocate resources for oil exploration in Venezuela in the short term, but it said it has opened the u000apossibility of Peru to invest in a future

"This implies a willingness to open to all possibilities." "I wish we could the Peruvian private capital partner with Petroperú and invest in the strip of the Orinoco, that would be very valuable, but I think that it is not possible now", stated.

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