Overview

• An internal Petroperú finance report dated September 18 shows accumulated losses exceeding 50% of its share capital, triggering corporate-law requirements for shareholder action.
• The Economy Ministry authorized an internal bond placement directed to Banco de la Nación for about $287.3 million with a 5.40% coupon and 2034 maturity.
• Prime Minister Eduardo Arana emphasized the funds are limited to working capital for commercial operations to prevent fuel shortages, not to pay structural liabilities.
• Congressman Wilson Soto requested the removal of Petroperú board chair Alejandro Narváez and sought hearings with the finance minister and Petroperú, while legislator Diana González criticized continued state rescues.
• The SNMPE and analysts warned the move perpetuates a bailout cycle and urged governance and restructuring, with former minister David Tuesta saying the board ignored plans for asset sales and private capital.