He who tells the truth does not lie

Faced with the wave of half-truths or open falsehoods about the situation and work of the first state-owned

company in Peru, Petroperú responds directly and transparently to some of these fallacies:

Is Petroperú a company that always makes losses and that costs all Peruvians?
False. Of his 54 years of life, 48 have been profitable, while the other 6 years he has had problems as a result of political interference that weakened his governance and the COVID-19 pandemic that affected all companies, public and private, without exception.

Is the New Talara Refinery a “white elephant” that is not profitable?
False. The current administration committed to putting the New Talara Refinery into operation and did so last December, as various authorities have been able to verify. Thanks to this, it obtained an operating profit of US$29 million in its first month of operations (January).

Do the Board of Directors and senior management of the company want to keep things as they were?
Absolutely not. On the contrary, the General Meeting of Shareholders approved in September of last year the changes in the corporate documents and board regulations, which establish the new guidelines for the meritocratic election of its members. Likewise, in the second half of 2023, the selection process was carried out to have a new General Manager, Commercial Manager, Finance Manager and Legal Manager, positions selected in a meritocratic and transparent manner. This is part of the company's administrative reorganization process, which must culminate in the first half of 2024.

Would the international financial system be willing to lend money to Petroperú?
Of course. A recent report from The Economist confirms that the “demand for hydrocarbons will reach record levels” and therefore the requirement for modern and efficient refining services such as the one now provided by the New Talara Refinery will continue to increase. What's more, the current administration has had meetings with several financial entities that are in a position to guarantee short and long-term loans to Petroperú.

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In summary, based on verifiable data and not on ideological positions or purely private interests, we can inform the country that Petroperú is not bankrupt, that it is in the midst of a restructuring process, that it has been optimizing costs and strongly re-entering fuel production, since it had to paralyze the operations of the old Talara Refinery, to finish the new infrastructure that, according to all world experts on the subject, is currently the most modern refinery in Latin America.
For all this and more, we are convinced that Petroperú will not only emerge from the difficult financial situation in which it finds itself and which cannot be hidden, but that it will emerge stronger, more efficient and modern, for the benefit of all Peruvians.