The Executive has finally published the emergency decree (DU) in response to the crisis facing Petroperú. The document establishes, in an exceptional manner, the capitalization of temporary financial support of up to US$750 million or its equivalent in soles, plus accrued interest to the date the regulation comes into force.
It should be noted that the public company currently has a debt of around US$8.5 billion.
LOOK: Confiep calls for firm measures in response to the crisis at Petroperú
Through the regulation, the term of the Short-Term Debt Operation, under the modality of granting a National Government Guarantee, for the foreign trade credit line with the Banco de la Nación is extended until 31, 2025 for up to US$ 1,000 million.
But these actions are accompanied by a commitment. The DU also establishes that the board must adopt measures to reduce the execution of the expenditure budget for the remainder of the year by up to 10% compared to the execution recorded in the same period of 2023. For 2025, the percentage extends to 30% compared to 2024.
SALE OF PROPERTIES
The Executive also ordered that Proinversión be in charge of selling Petroperú’s real estate and properties, with some exceptions such as those considered critical national assets.
A few months ago, Perú21 revealed that Petroperú had at least 60 unnecessary properties for the operations of the public company, of which only eight cost around US$ 166 million.
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