The inefficient management of Petroperú has cost the country S/25.3 billion

The inefficient management of Petroperu has generated a high cost for the State since 2013 since financial support to the state company amounts to S/25.3 billion, revealed the director of the Peruvian Institute of Economics (IPE), Diego Macera.

They assure that cooperation is based “on mutual respect and equitable treatment.”

Part of that resource, S/15.4 billion, was allocated to capital contributions, while S/8.7 billion to guarantees, and S/1.2 billion to loans. With this money, the IPE representative indicated that it could have been allocated to infrastructure projects.

For example, he pointed out that 330 high-performance schools, 98 highly complex hospitals could have been built, and the annual budget for the Juntos program could have been increased by 23 times.

One of the problems that have arisen in these years to move the company forward has been the political interference that has led to the public company having a fragile institutional framework and being incapable of reforming itself.

In that sense, he recalled that the average tenure of the presidents of the oil company has been four months between 2021 and 2025. This figure is below the 49 months that were recorded between 2000 and 2005.

For this reason, he considered that it is necessary to approve a law in Congress that regulates the governance of Petroperú and puts a stop to the deterioration of both external and internal pressures.

BANKRUPTCY?

For his part, the director of Proinversión’s Petroperú Restructuring Project, Ángel Delgado, reported that the promotion plan to move the oil company forward and become more efficient has already been approved.

“The key is not to give them a blank check,” he said during a forum organized by the IPE. Later, in statements to the press, he indicated that within this plan a diagnosis has been made in which it has been discovered that the public company “is close” to bankruptcy.

Likewise, he reported that in a few weeks the injection of capital from private banks and not the Public Treasury will be announced. Although he did not advance the amount, he indicated that it would be managed by a special cash committee. “We need Petroperú to have the necessary capital to be able to continue generating positive flows,” he added.

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