Request for financial support is to guarantee fuel supply in the country

Given journalistic versions about possible financial support, Petroperú addresses public opinion to specify the following:

1. Through Board Agreement No. 087-2023-PP, dated August 3rd, Petroperú's administration was authorized to request -through the Ministry of Energy and Mines- financial support to mitigate the risks of eventual fuel shortages to national level, especially in the jungle and different regions of the country where other providers do not reach because it is not profitable for them.
2. The company has been forced to make the aforementioned request due to extraordinary and irreversible factors that affected the start-up of the New Talara Refinery (NRT), including social conflict and Cyclone Yaku, situations that caused delays in the start-up of the new refining complex, which has recently been completed. Similarly, the request responds to the need to maintain sufficient inventories to guarantee the supply of fuels in the face of the imminent effects that the El Niño phenomenon would cause.
3. This request has been sent to the Ministry of Energy and Mines for evaluation, which is in progress and the results of which will be officially reported by the company.
4. In this sense, we specify that the requested support has no relationship with the payment of the obligations for the construction and start-up of the NRT, which is being faced with the company's own resources.
5. In addition, the recent start-up of the NRT will generate margins that will gradually improve Petroperú's profitability and liquidity; as well as continue with the gradual return to oil production activity.
6. Consequently, Petroperú reiterates that this request is made solely to maintain the sustainability of the fuel market, comply with the supply of hydrocarbons in the most remote areas of the country and thus guarantee the continuity of economic activities.
7. It is important to note that, in compliance with U.D. 023-2022, Petroperú has been implementing its restructuring, which aims to strengthen its governance, as well as ensure its financial sustainability and that of its operations at the national level. These actions can be consulted on the institutional portal.Es importante señalar que, en cumplimiento del U.D. 023-2022, Petroperú viene implementando su reestructuración, la cual tiene como objetivo reforzar su gobernanza, así como asegurar su sostenibilidad financiera y la de sus operaciones a nivel nacional. Estas acciones pueden ser consultadas en el portal institucional.