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    8002   JP3877600001

MARUBENI CORPORATION

(8002)
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Peru PM warns gas sector: pay higher taxes or face nationalization

09/26/2021 | 12:28pm EDT

LIMA, Sept 26 (Reuters) - Peruvian Prime Minister Guido Bellido on Sunday said that companies which exploit natural gas in Peru will need to agree to pay higher taxes or else face nationalizations, a sharp warning to the sector from the new leftist government.

Bellido told Reuters in August https://www.reuters.com/world/americas/exclusive-perus-new-govt-eyes-natural-gas-hydroelectric-sectors-public-companies-2021-08-08 that the government was planning to participate more deeply in the main industries, including natural gas and new hydroelectric projects, and would look to create new state companies.

The Andean country, the world's No. 2 copper producer, has a major gas operation run by the Camisea consortium, led by Argentina's Pluspetrol, with smaller stakes held by South Korea's SK Group, Hunt Oil and Repsol .

"We summon the Camisea gas operating and trading company to renegotiate the distribution of profits in favor of the State," Bellido wrote on Twitter.

"Otherwise, we will opt for the recovery or nationalization of our field."

Investors are closely watching the administration of President Pedro Castillo, an outsider former teacher who took office in July after a shock election win, with a focus on his government's mining policy and taxation levels.

The natural gas from Camisea is liquefied by a separate consortium, called Peru LNG, which includes Royal Dutch Shell, Japan's Marubeni Corp, SK Group and Hunt Oil. (Reporting by Marcelo Rochabrun; Writing by Adam Jourdan; editing by Grant McCool)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MARUBENI CORPORATION 1.51% 970.9 End-of-day quote.41.51%
SK INC. 0.79% 256000 End-of-day quote.6.44%
SK INNOVATION CO., LTD. 0.19% 257000 End-of-day quote.35.26%
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More news
Analyst Recommendations on MARUBENI CORPORATION
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Financials
Sales 2022 7 126 B 62 715 M 62 715 M
Net income 2022 332 B 2 918 M 2 918 M
Net Debt 2022 1 775 B 15 624 M 15 624 M
P/E ratio 2022 5,11x
Yield 2022 4,85%
Capitalization 1 686 B 14 763 M 14 842 M
EV / Sales 2022 0,49x
EV / Sales 2023 0,47x
Nbr of Employees 42 882
Free-Float 97,2%
Chart MARUBENI CORPORATION
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Marubeni Corporation Technical Analysis Chart | 8002 | JP3877600001 | MarketScreener
Technical analysis trends MARUBENI CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 970,90 JPY
Average target price 1 108,00 JPY
Spread / Average Target 14,1%
EPS Revisions
Managers and Directors
Masumi Kakinoki President, CEO & Representative Director
Takayuki Furuya CFO, Representative Director & Head-IR
Fumiya Kokubu Chairman
Mutsumi Ishizuki Representative Director & Chief Compliance Officer
Takao Kitabata Independent Outside Director
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