Last Tuesday, members of the board of directors Petroperu They issued a statement in which, among other things, they proposed three options that could be evaluated by the Government In the face of the state-owned company crisis: continue injecting more capital, accept bankruptcy, or decide on a restructuring.
Look: Confiep calls for firm measures in response to the crisis at Petroperú
Following a meeting of almost four hours between the Executive and the board, sources from the Palace reported that the Government’s decision would be to restructure the oil company.
To this end, it was learned that next week, at the Council of Ministers session, an emergency decree (DU) would be approved that would allow the required changes to begin, since the company, which as of June recorded net losses of US$452 million, cannot wait any longer for a solution.
The restructuring, for now, has the support of the Minister of Economy and Finance, José Arista, and the head of Energy and Mines, Rómulo Mucho.
However, there is concern about the presence of the former minister of the sector, Oscar Vera, who was a representative of the workers and is still part of the Petroperú payroll. According to the Transparency portal, the official met with President Dina Boluarte on August 28 from 4:43 p.m. to 7:55 p.m., that is, almost at the same time as the meeting between members of the Executive and the directors of the oil company.
But Vera was not the only one who participated in this conversation with the president. The meeting was also attended by the former president of the public company, Pedro Chira, who took office in April 2023 and resigned in February 2024. During his administration, the company’s liabilities with respect to its assets went from 3.28% to 6.03%.
A third participant in this meeting was Antar Bisetti, former advisor to the public company. He also held the position of Deputy Minister of Hydrocarbons between December 2022 and May 2023, that is, during part of Óscar Vera’s administration.
Look: Arista says Petroperú will not be financed with the 2025 budget
PETTY CASH
Although he did not give further details, Prime Minister Gustavo Adrianzén assured that decisions are not made due to political interference, although he pointed out that this did occur in other administrations. In this regard, he alleged that in other governments Petroperú was used as a “petty cash box.”
“Perhaps a loan that can be recovered, now that the Talara Refinery is producing, or opening new markets, having a new and more efficient administration,” he said on RPP as part of the measures that can reverse the situation.
Meanwhile, associations such as Confiep called on the Executive to take solid action. “It is necessary to have a firm political decision and an adequate institutional framework for this reform to be successful, for the benefit of all Peruvians and not just a few who benefit from this company,” he said.
The Lima Chamber of Commerce, for its part, said that measures should be adopted more quickly, focusing on the sustainability and efficiency of the company.
Look: Prime Minister Adrianzén: Petroperú was used by other governments as a petty cash box
DATA
This newspaper revealed in February that Petroperú had more than 60 unnecessary properties, which could be sold to alleviate its crisis. This sale would be part of the restructuring.
In June, board chairman Oliver Stark said that the San Isidro office workers would move to Talara and said they would see what would be most profitable for the building without putting it up for sale or concession.
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