Peru has struggled for over a decade to build its hydrocarbon sector and boost crude oil reserves and production. 2020 was particularly difficult for the Andean country’s crisis-ridden petroleum industry . Ongoing social conflict, notably in Peru’s northeastern Amazon, the COVID-19 pandemic, and ongoing infrastructure outages all impacted hydrocarbon output. Those issues were amplified by the Latin American country’s long-running political crisis and the socioeconomic fallout from the pandemic. Like its Latin American neighbors, Peru’s economy was harshly impacted by the pandemic. The Andean country’s 2020 gross domestic product contracted by over 11% despite Peru being one of the first regional countries to initiate a lockdown to mitigate the spread of the coronavirus. That was worsened by softer commodity prices, with metals mining being a key economic driver, as the world slumped into a pandemic-induced recession. Peru’s planned economic recovery depends not only on restarting activity in the Andean […]