The hydrocarbons industry in Peru: royalty disbursement decreases by 15.1% in the first semester of 2024.

According to the latest reports from the National Society of Mining, Petroleum, and Energy (SNMPE), companies dedicated to the hydrocarbon sector in Peru have disbursed a total of US$478.5 million in royalties to the State during the period between January and May 2024. This figure represents a 15.1% decrease compared to the same period of the previous year, when royalties payments reached US$563.5 million. The mining energy guild highlighted that, despite the year-on-year decrease, in May 2024, hydrocarbon sector companies made a disbursement of US$100.4 million for royalties, representing a 14.4% increase compared to May 2023, when US$87.9 million in payments were recorded. However, it is important to note that this amount was lower than that reported in May 2022, which amounted to US$151.7 million. Regarding the distribution of royalties in May of this year, the SNMPE detailed that hydrocarbon sector companies paid US$48.2 million for natural gas exploitation, US$20.2 million for oil, and US$32.1 million for natural gas liquids production. These data reflect the importance and diversification of activities within the hydrocarbon industry in the country. Despite efforts to maintain a steady flow of royalty income to the State, the SNMPE also reported that private investment in the sector may have experienced a modest growth of 1% during the first half of the year. This figure suggests a trend of stabilization in investment levels, which could be influenced by various factors such as the national and international economic situation, as well as global energy market conditions. It is relevant to analyze the context in which the hydrocarbon industry operates in Peru, considering fluctuations in international oil and gas prices, as well as the need to promote sustainability and energy diversification in the country. These aspects are fundamental to ensure balanced and sustainable development in the sector, ensuring benefits for both companies and the general population. In this sense, it is essential for authorities and stakeholders involved in the hydrocarbon industry to work together to promote responsible investment, technological innovation, and environmental protection. These aspects are key to driving sustainable growth in the sector, generating employment, economic development, and social well-being for the country as a whole. In conclusion, the data provided by the SNMPE shows the importance of the hydrocarbon industry in Peru, both in terms of generating income for the State and as a driver of investment and development. However, it is necessary to closely monitor the sector's evolution, identifying opportunities to improve efficiency, promote diversification, and ensure long-term sustainability. This comprehensive approach will be key to harnessing the potential of the hydrocarbon industry and contributing to the economic and social growth of the country.