Energy and Mines Minister Angelo Alfaro said Tuesday that the government will inject capital into Petroperu—possibly exceeding S/500 million (about US$145 million)—to restore the State-owned company's operational capacity.
"The objective and commitment of the government is to strengthen Petroperu and restore its operational capacity. Indeed, concrete measures will begin to be implemented, and work on the company's restructuring is ongoing," Alfaro stated.
"At this moment I do not have the exact figure, but it is a significant amount—we are talking about more than S/500 million, approximately. The final amount has already been determined by Petroperu based on its immediate debts," he added.
The high-ranking official indicated Petroperu owes money to suppliers, particularly for crude oil and services.
This State injection will therefore allow greater operational capacity at the Talara, Iquitos, and Conchan refineries so Petroperu can return to the market supplying gasoline, diesel, and LPG.
"But it does not stop there. Work continues on restructuring the debt so that Petroperu can repay it with its own revenues and gradually return to the State the portion being provided as a loan," he said.
The minister explained that Petroperu experienced a setback in its operations due to the previous board, which made changes without consulting the State-run Private Investment Promotion Agency (ProInversion), with which there were already working agreements in place to address the problems facing the State oil company.
"This caused a liquidity gap, but work is currently underway, and the figures are already in hand to begin restoring Petroperu's operational capacity," Alfaro indicated.
"Petroperu has a very large debt, and the risk to the country is also very high if this debt gets out of control. It would be irresponsible for the government to neglect this entirely; we cannot allow Petroperu to fail," he added.
The Cabinet member reiterated that Petroperu's restructuring does not mean privatizing the company, but rather reviewing all processes and identifying how to optimize its best units to make them more profitable.
"It is essentially a financial and asset restructuring; that is what we are seeking. The objective is not to privatize; Petroperu is not for sale, and its assets are safeguarded in the name of the State," the dignitary emphasized.
"Petroperu's new board is technical and professional, in no way political. It is working intensively and should deliver results in the near term. The commitment of the workforce is vital, because without their support, anything we do would be meaningless and would not yield the results we expect," Alfaro said.
"This funding is being provided, but work is also underway on restructuring with this new board, which has a very clear direction. In the coming months there will be a series of measures that will strengthen Petroperu, and the State's backing is absolutely necessary because there is a risk of international claims," he added.
(END) CNA/MVB
Publicado: 17/3/2026