"It will definitely be managed responsibly. Petroperu will not control it, as it previously used the funds to pay its debts, pay itself, companies, or bondholders," Arroyo explained.
The high-ranking official said this structure will create a virtuous cycle because a different entity will make decisions regarding the trust fund.
Likewise, specialists and experts will carry out a different kind of management, without the flexibility previously enjoyed by the State-owned oil company.
In that regard, the government's spokesman said the decision adopted by the Executive Branch through Urgency Decree No. 003-2026 is different, but responsible.
One of the reasons for keeping Petroperu is that regions such as Loreto, Ucayali, and Madre de Dios received between 80% and 85% of their fuel from the State-owned company in recent years.
The Cabinet chief noted that the Executive Branch's first objective is to overcome the energy crisis, after which it will also assess the governance and viability of Petroperu, a company with debts exceeding US$7.8 billion.
He explained that the trust fund will begin once financing from international banks is transferred to an entity separate from Petroperu.
With those resources, the State-owned company will continue operating, generate capital, and gradually repay certain debts.
"It is like a safe deposit box. The money goes in and is allocated to specific purposes: purchasing crude oil, overseeing production, and distribution. From there, revenue comes in, capital is generated and secured, which generates profit as well," he indicated.
Arroyo said the refinery owned by Petroperu is a solid asset. Similarly, he expressed hope that it will gradually recover its previous operational standards.
He also said Congress has the authority to repeal Urgency Decree No. 001-2025 on Petroperu's reorganization, although he considered it complementary to Urgency Decree No. 003-2026.