Overview
- The emergency decree published Monday authorizes the Energy and Mines Ministry to back up to US$2 billion for Petroperú, with up to US$500 million available in the short term while the full scheme is set up.
- Money will flow through a ProInversión‑run trust and a special‑purpose vehicle, so funds bypass Petroperú’s common account and go only to working capital, fuel stock, inputs, and essential services to keep refineries running.
- The move follows warnings that refineries in Talara and Conchán could halt after Iquitos already stopped, with ministers stressing the need to protect the Amazon region where Petroperú supplies most fuel and price spikes would hit hardest.
- Government leaders call it a supervised backstop rather than a bailout, but economists note the state is taking on contingent risk as Petroperú carries roughly US$7.8–8.0 billion in debt and has lost credit lines that now force it to prepay crude.
- ProInversión says the structure aims to prevent a cascade of debt defaults, the measure runs through December 31, 2026, and next steps include setting up the vehicle, selecting international banks, and tightening Petroperú’s governance.