HNG-InterNorth will take a write-off on Belco.
Omaha-based HNG-InterNorth said Peru’s nationalization of the company’s Belco Petroleum unit will probably result in what it called a significant year-end write-off. But HNG also said it does not believe that the Peruvian government’s action will have a “material adverse effect†on HNG or its subsidiaries. Peru took over Belco’s operations in that country last Friday.
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