Peru's Oil Output Inches Up, But Year-Over-Year Decline Continues

Peru's oil production showed a slight improvement in July, reaching 36,930 barrels per day (BPD), according to official figures from Perupetro. This represents a minor increase from June, but is still 23% below the level recorded in the same month last year.

The highest-producing blocks were Lot 95 in the Loreto region, producing 10,658 BPD; Lot X in the Piura region, with 8,233 BPD; and Lot Z-69 in the same region, generating 2,954 BPD. On the other hand, several lots including Lots 67, XV, XX, and Z-6 recorded no production during the period.

Natural gas production also saw a slight increase, rising from 1,551 million cubic feet per day (MMCFD) in June to 1,554 MMCFD in July. This represents a 9.6% increase compared to the same month last year. The highest levels of natural gas production were recorded at Lot 88, followed by Lots 56 and 57, all located in the Cusco region.