Overview

• The MEF-cleared placement totals about US$287 million (S/1,000 million) with a nine‑year term through Banco de la Nación to refinance two Treasury‑guaranteed letters of credit that came due in August and September.
• Jorge Montero rejected that the move is a bailout, saying it is a routine debt reprofiling with no emergency decree and no fresh funds from the public purse.
• Montero argued Petroperú’s 2024 loss of more than US$700 million reflects industry cycles and highlighted the company’s integrated operations and annual revenue scale.
• Petroperú’s accumulated losses now exceed 50% of its share capital, a level associated with technical insolvency risk, and the company has called a shareholders’ meeting to report the situation.
• Private‑sector leaders and lawmakers intensified scrutiny, with SNMPE urging governance reforms and Congressman Wilson Soto seeking the removal of president Alejandro Narváez, summoning officials to Congress, and floating privatization and possible interpellation.