Overview
- State shareholders named Luis Alberto Canales Gálvez as chair with three new directors, replacing most of the board on November 15–16 after prior resignations and removals.
- Sector veterans question the appointees’ limited oil and gas track records, calling for immediate transparency on refinery margins, market share and funding needs.
- Public accounts remain under pressure after S/2,415 million in guarantee payments from June to October 2025, on top of 2024 operations of S/6,100 million in capitalization and S/2,400 million in honored guarantees cited by the central bank.
- Analysts urge the board to publish audited financial statements, present a near-term liquidity plan, restart the stalled search for a restructuring consultant and advance planned asset sales.
- Caretas reports third-quarter losses exceeding 51.8% of share capital as the shareholders weigh a capital injection versus a capital reduction, while the government also replaced Perupetro’s president after failed licensing efforts.