Peru Courts Private Partners for Petroperú Assets as MEF Targets Payroll Cuts

Overview

• Finance Minister Denisse Miralles said multiple companies, including Petroperú suppliers, have signaled interest in managing specific assets to help service debt.
• ProInversión is meeting creditors and is expected to present an asset-promotion blueprint in February, with the possibility of an earlier release.
• The government frames the effort as asset-based participation mechanisms such as Proyectos en Activos rather than a privatization or sale of Petroperú.
• Talara refinery and the Norperuano pipeline are priority targets, with options to process Ecuadorian crude and provide regional logistics services.
• A reorganization focused on managerial levels seeks to cut payroll spending by about 40% in a first phase, and the MEF has requested Comptroller involvement over past decisions.