"The measure permits the reorganisation of Petroperu into one or more asset units, opening the door to private participation in key operations. That includes those at the flagship Talara refinery, which recently underwent a $6.5bn upgrade. Beyond the refinery, Petroperu operates or holds concessions for six crude oil blocks with limited production, alongside a nationwide fuel distribution and marketing network."
"In a statement, Peru's Ministry of Energy and Mines said the decree seeks to ensure compliance with financial obligations through technical management of its assets, laying the foundation for Petroperu to become a self-sustaining company. The ministry said the company's financial position is particularly sensitive, citing accumulated losses of $479m between January and October 2025, as well as debts to suppliers totalling $764m through December."
"Those figures come on top of reported losses of $774m in the previous year. Petroperu's financial strain has been compounded by debt linked to the Talara refinery modernisation, which ultimately cost double its original estimate and led to the company losing its investment-grade credit rating in 2022. Since then, the government has repeatedly stepped in to support the firm, providing about $5.3bn in financing between 2022 and 2024."
Peru approved an emergency decree allowing private investment in parts of state-owned Petroperu to stabilise a company burdened by mounting losses and debt. The decree permits reorganising Petroperu into asset units and opening key operations to private participation, including the upgraded Talara refinery, six low-production crude blocks, and its national fuel distribution network. The Ministry of Energy and Mines framed the move as enforcing financial obligations through technical asset management and enabling Petroperu to become self-sustaining. The company reported $479m losses Jan–Oct 2025, $764m supplier debts through December, and $774m losses the previous year.
Read at www.aljazeera.com
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