Petroperú will begin a forensic audit of the New Talara Refinery

Petroperú announced that it will hire a specialized auditing company to carry out a forensic audit of the New Talara Refinery. This was reported by the Chairman of the Board, Alejandro Narváez Liceras, who also detailed that the last board meeting approved the creation of a commission in charge of preparing the bases of the international competition for this contract, whose progress will be presented next week.

Narváez also highlighted the Restructuring Plan prepared in 2023 by the Arthur D. Little / Columbus MB Latam Inc. consortium, which included recommendations such as financial restructuring and strengthening governance, but which were not implemented by previous administrations. "We are going to resume that plan, in line with Emergency Decree No. 013-2024, which requires hiring a specialized company to restructure the company," he said.

Likewise, he categorically ruled out the possibility of requesting another financial bailout from the State. This is a new administration with clear goals and objectives, a different management style and a renewed human team. "We have inherited a difficult situation, with projected cumulative losses of $960 million by the end of the year. However, we will work to reduce these losses," he said.

Projections and new approach

The president of Petroperú expressed optimism regarding the future of the company, projecting a turnover of $4.8 billion and a positive profit for 2025. These goals, which have the endorsement of the General Shareholders' Meeting, are based on the guidelines established by the new Board of Directors, focused on financial sustainability, cost reduction, resource optimization and a more aggressive commercial policy.

Along these lines, the current administration is working to consolidate its market share, estimated at 28% by the end of 2024, with a projection of 38% in 2025. "We are committed to turning Petroperú into a modern, efficient, sustainable and profitable company, which is a benchmark in the energy industry," said Narváez.

The president concluded by highlighting that, through these measures, Petroperú seeks to strengthen its position in the market, honor its financial commitments, guarantee transparency in its management and consolidate itself as a key player for the country's energy development. "The course is set and the goals are challenging but achievable, thanks to the strategy outlined and the talent of our professionals," he concluded.