Overview
- The Economy and Finance Ministry removed Alejandro Narváez as board president and named vice chair Fidel Augusto Moreno Rodríguez as interim leader.
- Peru’s securities regulator said the decision was taken at a Petroperú shareholders’ meeting and took effect the same day.
- Narváez sent a notarized letter to top officials seeking a review of the process, arguing legal formalities were not met and warning of governance risks.
- The interim government said the move aims to ensure disciplined use of resources and safeguard macroeconomic stability.
- Specialists urge a full board and management overhaul as Petroperú bears heavy losses, debt about three times equity, and a consultancy projects negative value by 2032.