The crisis in Petroperú Advanza without pause, accumulating payment breaches. And, faithful to custom, the State takes out the wallet to cover the obligations that the company left without attending.
To the more than S/6,000 million that the Executive had to capitalize as a shareholder in the absence of payment, about S/650 million between June and July of this year were added, after the execution of the guarantees granted by the government itself to the oil company.
According to a report of August 14, the Central Reserve Bank (BCR) reported the “guarantee honor” for S/210 million linked to the foreign trade line that the Bank of the Nation granted to the oil company. A month earlier, on July 18, he had reported a similar case, this time for S/437 million.
For the former Energy Minister Arturo Vásquez, this situation reflects that the state is in “an insolvency situation” with little generation of operational cash flow.
“Petroperú does not have to pay all the debt service that has pending. They are perhaps tied up from this emergency decree (No. 013-2024) that was approved last year and authorizes the public treasure to pay that service of the debt to the bondists,” he said after pointing out that “a help to droppers is being given” for the company, loving to “cover” said sap. next months.
Losses
The company’s situation is complicated, since its accumulated losses would already exceed 50% of the heritage. In that sense, according to the General Societies Law, when something like this happens, the company’s board should call shareholders to decide to make new contributions or assume this loss.
If accumulated losses continue and reduce net assets to less than a third of the capital, it would be a cause of company dissolution.
It should be noted that Moody’s has already warned that Salvages to Petroperú put at risk the fiscal stability of the country. Even in a recent RPP interview with the vice president of the Sovereign Risk Group of the Qualifier, Jaime Reusche, he said that they are “being wicked” resources to support the company when it could be used for infrastructure, education, health, public services and security.
Meanwhile, the Fiscal Council (CF), in its opinion on the multiannual macroeconomic framework (MMM), also warned about a set of tax risks that could affect the projections, among which are the negative financial situation of the oil company.
Data
As of June of this year, Petroperú registered losses for more than US $ 278 million, thereby accumulating losses for US $ 2,148 million.
In its report published in the Superintendence of the Securities Market, the company blamed this situation to the closure of ports and low international crude prices.
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