Petroperú promotes production and competitiveness in the fuel market

The Chairman of the Board of Directors of Petroperú, Alejandro Narváez Liceras, presented to the foreign press the main actions that the company is implementing to strengthen its financial sustainability and competitiveness in the market. Among the measures are the maximization of the profitability of the refining business, efficient management in the import of hydrocarbons, increased sales revenue, and the promotion of the production of oil lots, all accompanied by its commitment to social development for the benefit of communities and accountability to the country.

During his speech, Narváez highlighted the performance of the New Talara Refinery (NRT), which currently processes a load of more than 90 thousand barrels of oil per day. He also announced that Petroperú plans to increase its sales in the domestic market from 93 thousand barrels per day (MBDC) in 2024 to 108 MBDC in 2025, which will allow it to reach a market share of 38%.

“We estimate revenues of 3.951 billion dollars by the end of 2024, a figure that will grow to more than 4.8 billion dollars in 2025, with a projected EBITDA of 15% for next year,” said Narváez.

Regarding the oil fields in the northwest that Petroperú currently operates, he said that the company remains interested in continuing its participation. This operation would guarantee a continuous supply of crude oil to the NRT, generating additional revenues of 100 million dollars annually.

Likewise, the general manager, Oscar Vera Gargurevich, highlighted the progress made in the search for an operating partner for Lot 64, located in the jungle, noting that there is already interest from several companies. He also explained that Lot 192, in association with Altamesa, will begin its production operations in March 2025.

Vera stressed that the production of the lots in the jungle, such as Lot 8 and Lot 95, will allow the North Peruvian Pipeline (ONP) to be added to its value, which is operational and ready to transport crude oil. He added that the ONP, designed with a useful life of 100 years, has maintenance and automation plans to guarantee its reliability.

Finally, Narváez announced that negotiations are being carried out with Ecuador for the import of oil through government-to-government mechanisms, seeking competitive prices. He also indicated that other countries have shown interest in providing crude oil.

The president of Petroperú concluded by highlighting the importance of maintaining an integrated model, emphasizing that this strategy is key to achieving greater profitability and aligning the company with the practices of the main oil companies in the world.