MEF will not attend a meeting to support Petroperú for not being "legally appropriate"

The Ministry of Economy and Finance (MEF) announced that it will not attend the shareholders meeting of Petroperu summoned for this Saturday 19 by the Ministry of Energy and Mines (Minem) to give its “absolute support” to the board of directors of the state company, whose general manager is Hugo Chávez Arévalo.

Through an official letter sent to the chairman of the board of directors of PetroperuMario Contreras Ibárcena, the head of the MEF, Oscar Grahampointed out that the procedure, deadlines, publications and formalities established in its Bylaws for this type of calls were not being complied with.

“In particular, we inform you that there has been no prior coordination, much less any consensus on point 1 of the Agenda contained in the official letter of reference b) that you endorse in your email of reference a), therefore We express our disagreement with the inclusion of said point as part of the Agenda”he detailed.

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Point 1 of the agenda sent by the mine is the approval of absolute support in favor of Petroperú by the MEF, in the face of the crisis that it has been going through as a result of the delay generated by the Comptroller General of the Republic regarding the Audit of the Financial Statements for the year 2021, requested since July of that year.

“In both cases, we must inform you that we consider it legally inadmissible to include as part of the agenda of a General Shareholders’ Meeting the approval of a binding action for any public entity, without taking into account its powers, or the legal system that regulates them. within the framework of their respective autonomy.detailed the MEF in the document.

“In this sense, we consider that the call does not comply with the provisions contained in the Bylaws of Petroperú SA, we inform you that we will not attend it”Graham sentenced in the trade.

MEF will not attend a meeting to support Petroperú for not being "legally appropriate"

It should be noted that the FEM said last Thursday that as part of the agreements of the General Meeting of Shareholders, support has not been given to the board of directors or to the general management of Petroperubeing other points agreed upon at the meeting.

Last Tuesday the 15th the risk classifier Standard & Poor’s Global Ratings downgraded the long-term debt rating of the state-owned company BBB- to BB+also known as speculative debt.

Likewise, the rating agency reported this Tuesday that it changed its outlook from stable to negative, after Petroperu announced that its auditor PwC will not sign the contract for the audit of the fiscal year ending December 31, 2021.