Petroperú recovers sales and profitability

One hundred days into his administration, the Chairman of the Board of Directors of Petroperú, Alejandro Narváez Liceras, highlighted the stabilization of the company with a better level of production, higher sales and more efficient management. For this year, the company projects a net profit of 137 million dollars.

In his presentation to the national press, Narváez Liceras highlighted that one of the main objectives of the last quarter of 2024 was to stabilize and optimize the New Talara Refinery (NRT), in addition to reactivating the Conchán and Iquitos refineries. He explained that it was imperative that the three Petroperú refineries operate at their maximum capacity to improve the profitability of the refining business and guarantee a reliable supply of fuels to the entire country.

Thanks to the changes that have been implemented in the administration, in 2024 Petroperú managed to reduce its projected losses by 200 million dollars, closing the year with a lower financial impact. In addition, in December it recorded a profit of 140 million dollars and the 10% reduction in operating expenses was met, as established in D.U. N°013-2024, consolidating a trend of recovery and sustainability for the company.

For this year, Petroperú seeks to reach a market share of 38%, attracting new wholesale and retail clients in a highly competitive sector. Since October of last year, the company has maintained sustained growth in market share that is projected to continue during 2025 until reaching its goal.

In line with its vertical integration strategy, Narváez Liceras indicated that Petroperú expects to continue operating lots I, Z-69 and X, the latter in association with private companies. The goal is to consolidate the company's presence in oil production, since the best profit margin is generated in this activity. The incorporation of a new operator for Lot 192 and the search for a strategic partner for Lot 64 will also be evaluated, in order to strengthen production and improve income.

Regarding the comprehensive transformation process, the Chairman of the Board indicated that it continues in progress, strictly complying with the government's mandate. Along these lines, he pointed out that this year an international public tender will be held to hire a prestigious company to lead the transformation of Petroperú, based on the recommendations made at the time by two international companies. In addition, he pointed out that 55 non-strategic assets will be sold and costs and expenses will be reduced by 30%, equivalent to 227 million dollars, through budget optimization, diversification of the origin of imports and improvement in the management of crude oil and product purchases.