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Congress Energy Panel Rejects Repeal of Petroperú Restructuring Decree

Keeping the decree in force lets Petroperú seek up to US$2 billion in private financing to address an urgent liquidity shortfall.

Overview

  • The Congressional Energy and Mines Commission voted 10 against, 9 in favor and 3 abstentions to reject the grouped predictamen that sought to annul Decree of Urgency 010-2025 on Tuesday, May 19.
  • A motion for reconsideration was filed immediately after the vote, so the commission could revisit the repeal before any full‑Congress decision is made.
  • The government separately issued Decree of Urgency 003-2026 on May 11 to allow Petroperú to access up to US$2 billion from international private lenders for crude purchases and short‑term liquidity.
  • Several lawmakers sharply criticized ProInversión taking a supervisory role over Petroperú procurement, arguing the investment agency lacks the technical capacity to manage crude and refinery input purchases.
  • The defeated predictamen had also proposed authorizing up to S/240 million in 2026 transfers from the Energy Ministry to guarantee fuel supply, and the outcome leaves Petroperú’s immediate funding and procurement governance as the key unresolved issues.