Alejandro Narváez: "Petroperú is not bankrupt or insolvent"

The president of the board of directors of Petroperu, Alejandro Narvaezassured this Friday that the state oil company is not bankrupt, nor is it insolvent.

President of Ferrocarril Central Andino assures that there is no basis to criticize the donation of trains from the United States and assures that these cars are “halfway through their useful life.”

“It is not bankrupt, very clearly (…) It is not in a situation of insolvency either. It has a liquidity problem, which is being continually refinanced,” he said on RPP.

The official indicated that his administration will not ask the State for more money. “It would be an absolutely disastrous situation to continue asking for money.”

Narváez indicated that Petroperú is in a different management and asked that it not be judged for what others did: “Those who left this as an inheritance should be judged. I am going to be held accountable the day the company shows me what I left behind.” , but don’t judge me what others have done.”

Losses of US$ 960 million

The head of Petroperú assured that, as of September of this year, the oil company had a loss of US$ 745 million. By the end of the year, he noted that this sum will reach US$960 million.

In that sense, he indicated that “cost reduction, resource optimization, change in commercial policy, recovering the customers we have lost” will be applied to reverse the company’s critical situation.

Narváez said that he met with the Minister of Economy, José Arista, and the Minister of Energy and Mines, Rómulo Mucho, to whom, he said, he detailed his plan.

forensic audit

Alejandro Narváez assured that he will hire a company to carry out a forensic audit, to determine the causes of the increase in the price of the Talara refinery. “Initially, the amounts planned were small, and now we are talking about more than US$6.5 billion to US$7 billion,” he said.

On the other hand, the head of Economy assured that directors of Petroperú have made an incomplete presentation and are awaiting more details.

“We have created a work team that will be in charge of preparing the bases for an international competition so that a company specialized in this type of audit can be carried out,” he said.

In that sense, he revealed that next week the commission created will report to the board of directors for approval of the bases to call for an international competition. And he recalled that in Emergency Decree 03, it is stipulated that a “company specialized in the hydrocarbon sector must be summoned to carry out a financial restructuring.”

“If the study contemplates restructuring or personnel adjustment, it will be. That is not ruled out at all,” he assured.

However, he was emphatic in pointing out that the Petroperú building in the San Isidro district will not be sold because “70% of the business” is carried out in Lima: “There is a large inventory. There is an error, 70% of Petroperú’s business is carried out in Lima. Here is the financial center, in Talara it makes no sense.

Finally, he defended the appointment of Óscar Vera as general manager of the state company and assured that “he is one of the most reputable technicians in Petroperú.”

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