Peru's Vizcarra Repeals Tullow's Offshore Oil Contracts

Peruvian President Martin Vizcarra passed a decree that repealed five offshore oil contracts that his predecessor had awarded to Tullow Oil (TUWLF) in March shortly before resigning, according to the official gazette on Wednesday.

 The contracts came under fire from lawmakers and coastal residents after they learned that disgraced former president Pedro Pablo Kuczynski had authorized them shortly before resigning due to graft allegations in March.

Reporting By Marco Aquino, Writing By Mitra Taj