Executive approves urgent measures to drive Petroperú's transformation

The Executive has approved Emergency Decree No. 013-2024, which requires Petroperú to implement urgent measures to generate operational and financial efficiencies, as well as to carry out a comprehensive transformation process. This decree not only seeks to ensure the commercialization of hydrocarbons in the most remote regions of the country, but also to guarantee the long-term sustainability of the company.

Petroperú appreciates the government's support and recognizes that this support entails the commitment to meet the established expectations and conditions. In this sense, the company takes on the challenge of improving its management, operations and finances, aligning itself with government demands. This will allow it to continue its important work of supplying fuel to the entire country, especially in the most remote areas, such as the jungle and the high Andean regions.

It is important to mention that, despite the difficulties faced by the company, in the last 33 years it has generated operating profits of more than 10 billion soles and has contributed more than 9 billion dollars in taxes between 2016 and 2023.

On the other hand, the company reaffirms that the New Talara Refinery (NRT) is key to the progressive improvement of its financial situation. Currently, all its units are operational, producing high-quality gasoline, diesel, LPG and Turbo A1 to meet national demand. Gradually, the modern refining complex will increase its fuel production, while all its processes are stabilized and optimized.

In line with government guidelines, Petroperú will adopt additional austerity measures, with a 10% reduction in its spending budget for the period September-December 2024, and 30% for 2025. In addition, a specialized company will be hired to manage the comprehensive transformation process, with strategic and financial measures that guarantee its sustainability.

Permanent social commitment

It is worth remembering that, as part of its social commitment, it has been supporting and promoting the development of the most vulnerable communities located near its operations nationwide. During the Covid-19 pandemic, it implemented a modular hospital and donated an ambulance to the province of Talara. It has also developed scholarship programs for students in different regions of the country for decades, as well as social responsibility programs linked to improving health and quality of life.

In addition, the company is a key player in emergency situations such as the El Niño Phenomenon and, recently, in the city of Iquitos, due to the drought of the Amazonian rivers. Despite the additional costs that these situations force it to assume, the company has maintained the supply of fuel for the economic development of the country.

Finally, Petroperú reaffirms its commitment to continue contributing to the economic and social development of Peru, with the responsibility of generating the efficiencies required by the government. It will also maintain transparent communication with citizens on the progress of its comprehensive transformation process and the responsible use of the financial facilities granted by the government to honour its commitments.