Peru's Petroperu: A Crossroads for the Future

Peru's interim government will submit a proposal to the next administration to decide Petroperu's future. Prime Minister Alvarez calls for no more funding to the deficit-ridden state oil company. Efforts include safeguarding an $8 billion investment in Talara refinery and preventing strain on national finances.

Peru's government has decided against providing additional financial support to the state oil company, Petroperu, which Prime Minister Ernesto Alvarez labeled as a 'deficit-ridden company'.

The interim government, led by President Jose Jeri, is drafting a proposal for the next administration to determine the future course of action for Petroperu. This proposal aims to protect the substantial investment of at least $8 billion made in the company's Talara refinery, capable of processing 95,000 barrels per day.

Prime Minister Alvarez emphasized the importance of ensuring Petroperu does not burden the national economy further. Efforts by Jeri's administration include strengthening the financially struggling company's management, which led to the dismissal of Petroperu's chairman in October.