Petroperú will implement strategies to reduce costs

The Chairman of the Board of Directors of Petroperú, economist Alejandro Narváez Liceras, visited the New Talara Refinery (NRT) with the objective of learning about its current situation and leading the implementation of expense optimization strategies that allow for the improvement of corporate results in the short and medium term.

Accompanied by the general manager, Óscar Vera Gargurevich, Narváez Liceras received detailed information on the operational and financial situation of this refining complex, considered the most modern in the region and whose production will benefit the economic growth of the country and, therefore, the development of each Peruvian.

During their visit, the officials took a tour of the Control Room and the various process units that are in their optimization stage, including the Flexicoking Unit, an innovative technology presented in only eight refineries worldwide that allows for the plant to be efficient and profitable. The visit ended in the laboratory, where compliance with the highest quality standards in each product is verified.

Narváez Liceras stressed that the work of Senior Management will be focused on optimizing NRT costs, a key element in Petroperú's strategy to consolidate a continuous supply of high-quality fuels throughout the country and achieve the projected profitability. He also ratified his commitment to the recovery and sustainability of Petroperú: “We are working to identify efficiencies and improvements in the various refinery processes, which will allow us to reduce our costs and improve our operating capacity, strengthening our competitiveness in the national and international market.”

In addition, he noted that Petroperú will continue to promote measures to achieve its financial recovery and achieve sustainability, always within the framework of current regulations, being accountable to the entire country. “We will demonstrate to our bondholders, shareholders, financial actors and society in general that this company will move forward and will comply, within the established deadlines and terms, with all its commitments. We only ask for a little time; we will not ask for anything else,” he added.

Consolidation of the Board

In the days prior to this visit, Narváez led two sessions of the new Petroperú Board of Directors, made up of professionals with significant experience in hydrocarbons, finance and public administration, who have been taking measures to guarantee the sustainability of the company. This team includes independent directors Carlos Balta Chirinos and César Rodríguez Villanueva; non-independent directors Fidel Augusto Moreno Rodríguez and David Quispe Figueroa; and Antonio Manosalva Alarcón, representative of the workers.

Narvaéz highlighted the professionalism and experience of all the members of the Board of Directors, who have been making the necessary decisions to continue with the restructuring of the company based on the plan prepared by the Arthur D. Little / Columbus MB Latam Inc. consortium and in compliance with the commitments assumed in emergency decrees No. 010-2022, No. 023-2022, No. 004-2024 and No. 013-2024. He also noted that his management will be notable for its transparency.