{"id":7230,"date":"2026-01-02T01:59:22","date_gmt":"2026-01-02T01:59:22","guid":{"rendered":"https:\/\/inernews.online\/?p=7230"},"modified":"2026-01-02T01:59:22","modified_gmt":"2026-01-02T01:59:22","slug":"peru-approves-emergency-overhaul-of-state-oil-firm-petroperu-business-and-economy-news","status":"publish","type":"post","link":"https:\/\/inernews.online\/?p=7230","title":{"rendered":"Peru approves emergency overhaul of state oil firm Petroperu | Business and Economy News"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"\">\n<p class=\"article__subhead\"><em>The move opens key assets to private investment and comes as Petroperu faces mounting losses and debt.<\/em><\/p>\n<\/div>\n<div>\n<div class=\"byline byline--single-avatar\">\n<div class=\"avatars-container\">\n<div class=\"responsive-image\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.aljazeera.com\/wp-content\/uploads\/2024\/11\/1747788086488-1748902760.jpg?resize=96%2C96&amp;quality=80 96w\" sizes=\"(max-width: 96px) 96px, 96px\" aria-hidden=\"true\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"article-dates\">\n<p><span class=\"screen-reader-text\">Published On 2 Jan 2026<\/span><span aria-hidden=\"true\">2 Jan 2026<\/span><\/p>\n<\/div>\n<div class=\"rich-share\" data-testid=\"rich-share\">\n<div class=\"rich-share__wrapper\">\n<div class=\"rich-share__button-wrapper\"><button class=\"rich-share__button row\" aria-expanded=\"false\"><\/p>\n<p>Click here to share on social media<\/p>\n<p><svg class=\"icon icon--share2 icon--primary icon--16 \" viewbox=\"0 0 20 16\" version=\"1.1\" aria-hidden=\"true\"><title>share2<\/title><path fill=\"#000\" fill-rule=\"evenodd\" d=\"M11.688 9.048c-.659 0-1.252.282-1.673.733l-4.92-2.45c.016-.115.028-.232.028-.352 0-.117-.011-.23-.027-.343l4.913-2.423a2.285 2.285 0 0 0 1.68.739C12.964 4.952 14 3.899 14 2.6 14 1.302 12.965.25 11.688.25S9.377 1.302 9.377 2.601c0 .117.01.23.027.343L4.49 5.367a2.285 2.285 0 0 0-1.68-.739C1.536 4.628.5 5.681.5 6.979c0 1.299 1.035 2.35 2.312 2.35.659 0 1.252-.281 1.673-.731l4.92 2.45a2.357 2.357 0 0 0-.029.351c0 1.299 1.035 2.351 2.312 2.351S14 12.698 14 11.399s-1.035-2.35-2.312-2.35Z\" clip-rule=\"evenodd\"\/><\/svg><\/button><\/p>\n<p class=\"rich-share__social-text\">Share<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div aria-live=\"polite\" aria-atomic=\"true\">\n<p data-start=\"257\" data-end=\"464\">Peru\u2019s government has approved an emergency decree allowing private investment in parts of the state-owned oil company Petroperu, as authorities move to stabilise a firm weighed down by mounting losses and debt.<\/p>\n<p data-start=\"466\" data-end=\"812\">President Jose Jeri announced the decision shortly before the beginning of the new year.<\/p>\n<section class=\"more-on\">\n<h2 class=\"more-on__heading\">Recommended Stories<!-- --> <\/h2>\n<p><span class=\"screen-reader-text\">list of 4 items<\/span><span class=\"screen-reader-text\">end of list<\/span><\/section>\n<p data-start=\"466\" data-end=\"812\">The measure permits the reorganisation of Petroperu into one or more asset units, opening the door to private participation in key operations. That includes those at the flagship Talara refinery, which recently underwent a $6.5bn upgrade.<\/p>\n<p data-start=\"814\" data-end=\"988\">Beyond the refinery, Petroperu operates or holds concessions for six crude oil blocks with limited production, alongside a nationwide fuel distribution and marketing network.<\/p>\n<p data-start=\"990\" data-end=\"1231\">In a statement, Peru\u2019s Ministry of Energy and Mines said the decree seeks to \u201censure compliance with financial obligations through technical management of its assets, laying the foundation for Petroperu to become a self-sustaining company\u201d.<\/p>\n<p data-start=\"1233\" data-end=\"1529\">The ministry said the company\u2019s financial position \u201cis particularly sensitive\u201d, citing accumulated losses of $479m between January and October 2025, as well as debts to suppliers totalling $764m through December.<\/p>\n<p data-start=\"1233\" data-end=\"1529\">Those figures come on top of reported losses of $774m in the previous year.<\/p>\n<p data-start=\"1531\" data-end=\"1891\">Petroperu\u2019s financial strain has been compounded by debt linked to the Talara refinery modernisation, which ultimately cost double its original estimate and led to the company losing its investment-grade credit rating in 2022.<\/p>\n<p data-start=\"1531\" data-end=\"1891\">Since then, the government has repeatedly stepped in to support the firm, providing about $5.3bn in financing between 2022 and 2024.<\/p>\n<p data-start=\"1893\" data-end=\"2298\">The company, which is seen as crucial to Peru\u2019s energy security, has also faced environmental scrutiny.<\/p>\n<p data-start=\"1893\" data-end=\"2298\">Authorities declared an \u201cenvironmental emergency\u201d and launched an investigation following an oil spill along a stretch of the country\u2019s northern coastline in 2024, affecting an estimated 47 to 229 hectares (about 116 to 566 acres).<\/p>\n<p data-start=\"2300\" data-end=\"2637\">The Petroperu restructuring effort comes amid persistent political instability in Peru. Several presidents have failed to complete full terms in recent years, including Dina Boluarte, who was impeached by Congress in October.<\/p>\n<p data-start=\"2300\" data-end=\"2637\">Her successor, Jeri, has struggled to steady leadership at Petroperu, appointing three board chairs in just three months.<\/p>\n<p>The move comes as Peru faces continuing political volatility, economic uncertainty and public pressure for stronger oversight of state institutions.<\/p>\n<\/div>\n<p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The move opens key assets to private investment and comes as Petroperu faces mounting losses and debt. Published On 2 Jan 20262 Jan 2026 Click here to share on social media share2 Share Peru\u2019s government has approved an emergency decree allowing private investment in parts of the state-owned oil company Petroperu, as authorities move to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-7230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latin-america-news"],"_links":{"self":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/7230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7230"}],"version-history":[{"count":0,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/posts\/7230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=\/wp\/v2\/media\/7231"}],"wp:attachment":[{"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/inernews.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}