Legislative Decree 655 on hydrocarbons
The government eliminated PETROPERU's monopoly in the commercialization of hydrocarbons by means of legislative decree 655.
By means of Legislative Decree 655, the government eliminated any monopoly or exclusivity by PETROPERU and its subsidiaries with respect to the commercialization of hydrocarbons. This measure is part of the structural reforms implemented by the government of Alberto Fujimori Fujimori during 1991. The decree was issued within the framework of the extraordinary powers granted by the Congress to the Executive Power to legislate on several economic and State reform issues.