The elections are coming and José Luna Gálvez, an expert in fabricating populist proposals, is getting ready to ride what seems to be his new electoral hobbyhorse: Petroperú.
The presidential candidate of Podemos Peru has taken advantage of the crisis of the state entity and the recent Emergency Decree that orders its restructuring and seeks to ensure its operational and financial sustainability – a measure described as positive by sector specialists – to, through his social networks, sell a false narrative about the future of Petroperú and even talk about a possible privatization, a situation that the Government itself has ruled out.
“The government intends to give away Petroperú, directly harming the pockets of our brothers motorcycle taxi drivers and transporters. From Podemos Peru we will not allow two transnational companies to have total control of fuels as they please. Right now Petroperú sells the cheapest oil in the world,” says Luna in a video published on one of his social media accounts.
The congressman also rejects the DU that authorizes the transfer of up to S/144 million to ProInversión, the entity that will have the responsibility of executing the division of the state company.
On his Facebook account, Luna, who through laws promoted by his congressional caucus struck down the pension system and promoted an indiscriminate withdrawal of contributions, also publishes an incendiary message about Petroperú:
“Oil belongs to Peru and must serve the people, not foreign interests. Privatizing Petroperú means handing over all our resources to two transnational companies so that they can raise the price of gasoline at will, directly harming my brothers, the transporters, taxi drivers and motorcycle taxi drivers.”
The diagnosis about Petroperú is critical. As of October 2025, the oil company accumulated losses of US$481 million. During that year, the unpaid debt with its suppliers reached US$767 million. In addition, the company is insolvent because its short-term obligations exceed the assets that could help pay them. All of this occurs despite the fact that, between 2022 and 2024, the State disbursed S/17,888 million in financial support measures.
As happened with the private pension system, Luna prioritizes his partisan and populist interests and electoral appetites and is not interested in the state entity continuing to generate more expenses.
The former Minister of Economy, David Tuesta, described Luna’s words as inconsistent and pointed out that with his speech the investigated congressman seems to defend the golden payrolls that are within Petroperú.
“Opposing to stop the drain on fiscal resources generated by the management of Petroperú is turning your back on the citizen, turning your back on the people he claims to defend,” says the economist.
“Contrary to what Mr. Luna says, who worries, as he points out, about his motorcycle taxi friends, with this plan the Peruvians, the motorcycle taxi citizens, will now be able to count on the security that there will be a company that will manage it in a better way and that if things are managed well, the oil, the fuel with which they fill their tanks can be provided at competitive prices if there is no shortage,” Tuesta explained to Peru21.
The former minister indicates that the restructuring program that the Ministry of Economy and Finance is proposing “will make it possible to stop those bailouts that reached almost 18,000,000 soles, which is equivalent to 16 years of the program together and 11 years of Peru’s pension 65. That has cost all Peruvians.”
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