PETROPERU statement 07-2018

In light of the recent statements made by the representative of Petroleos de la Selva about an alleged interference by PETROPERU in the negotiations and arbitration of this company with its main suppliers, we state the following:

1. PETROPERU reiterates that it has no participation in the business situation between Petroleos de la Selva and the companies CEPSA and Aguaytia Energy.
2. PETROPERU denies that it monopolizes the purchase of the CEPSA Company's oil, since it repeats that the contract that it maintains with it is NOT EXCLUSIVE; that is, that CEPSA can freely sell crude oil to Petroleos de la Selva if it so decides.
3. The mission of PETROPERU is to supply fuel to the country and the Ucayali region. Although it competes in the market, the main function of the Company is to guarantee the supply of fuels, especially when private operators are unable to do so, as in this case. PETROPERÚ does not have a particular commercial interest to acquire the complete production of both companies, especially not at the price of affecting a third party.
4. If PETROPERÚ had not "interfered" -as stated by the representative of Petroleos de la Selva-, CEPSA and Aguaytía Energy would have had to suspend their operations,  affecting the canon for the producing regions.
5. As the representative of Petroleos de la Selva points out, for the past four years they have been breaching the tenth clause of their rental agreement dated March 29, 2014, regarding the reception, storage and dispatch (RAD) procedure to PETROPERU, whose fulfillment would generate a benefit for Petroleos de la Selva. However, this has not happened despite the continuous requirements made by PETROPERU during that period.
6. PETROPERU deeply regrets the announcement of Petroleos de la Selva regarding the beginning of a procedure for the collective dismissal of refinery personnel.
7. And urges it to rethink that decision because if it fulfills its obligation related to Reception, Storage and Dispatch (RAD), it can continue with its business operation on a regular basis and avoid any impact that harms its workers and their families.
8. Finally, PETROPERÚ reiterates that it is able to guarantee, as always, the normal fuel supply in Ucayali at competitive prices.

COM-07