It is urgent that the new directory of Petroperu the real situation of the oil company is transparent and that both the Ministry of Economy and Finance and the Ministry of Energy and Mines provide signals about the measures that are going to be carried out to correct the situation, but so far the issue has not been discussed.
Yesterday, Petroperú sent two statements that maintain the same lie of the previous administration, that everything is going well.
The oil company reported that it included its main headquarters, located in the financial center of the capital, in San Isidro, within the list of non-strategic assets for its operation, which are currently being evaluated with the assistance of Proinversión.
That is, he added his building to a list of assets whose evaluation, regardless of whether it is Proinversión, has no end date. Furthermore, if the building were sold tomorrow, the income from the transaction would be insufficient for Petroperú to honor its debts.
In February of last year, Perú21 contacted expert appraiser Manuel Barboza to estimate the value of the San Isidro property. According to the expert, the property would be valued at US$105.6 million. If it is taken into account that, between June and October of this year, the Treasury disbursed S/2,415 million to pay Petroperú’s debts with the Banco de la Nación, the sale of the building would only cover 14.7% of that amount.
According to the statement, with the incorporation of the main headquarters, the oil company adds 60 assets in the evaluation process through Proinversión. However, it is not detailed what the assets are, nor when a decision will be made on what to do with them.
He wants to see our faces
The second statement specifies that the company, in the third quarter of 2025, “marked a turning point”, presenting “an unexpectedly solid performance after several periods of negative figures.” This is the same story that Alejandro Narváez’s management has been giving to the country.
It is false that the oil company shows an “unexpectedly solid” performance for several reasons. In the third quarter, Petroperú’s revenues totaled US$860 million and were insufficient to cover operating costs, which reached US$861 million. This is without including the financial obligations that totaled US$85.4 million. Hence, the losses totaled US$76.8 million.
Furthermore, as of the third quarter, the losses accumulated by the company (US$2,225 million) have liquefied 51.8% of the capital, which is why the State is required to make a new contribution.
Likewise, between July, August and September of this year, the MEF disbursed S/1,599 million to Petroperú to honor the oil company’s debts with the Banco de la Nación.
Finally, a few days ago, oil operators on the north coast urged Jerí to analyze the “critical situation” of the debts that Petroperú maintains with them. They detailed that the accumulated obligations with non-payment exceed US$120 million and already affect the sustainability of these companies.
With these facts, in what part has Petroperú improved?
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