Word: petroperu
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Dates: during 1960-1969
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...does not refute Peru's right to expropriate. Indeed, this would be pointless, since the government's Empresa Petrolera Fiscal is operating IPC's Talara refinery with Mexican assistance, and is ripping down Esso gas-station signs in favor of its own brand name Petroperu. Nor does the Nixon Administration quibble with the reimbursement-at $71 million-that Peru is willing to pay. But the U.S. firmly opposes the blue-sky figure of $690 million that Velasco insists is owed Peru for 44 years of oil theft, and against which he is determined to apply whatever reimbursement...
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