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Peru Moves to Restructure Petroperú by Emergency Decree, Cabinet Vote Set for Dec. 29–30

The plan targets a structural fix to end recurring bailouts after years of costly state guarantees, preserving fuel supply.

Overview

  • Finance Minister Denisse Miralles said an emergency decree for a comprehensive overhaul of Petroperú will be issued in the coming days.
  • The Council of Ministers will debate and is slated to decide on the measure during sessions on December 29 and 30.
  • Officials ruled out further injections to cover debts and will seek private participation to monetize state assets without selling them.
  • Miralles pledged respect for Petroperú workers’ social benefits and assured no shortages in areas where the firm provides energy security.
  • A preliminary draft reported by Caretas indicates ProInversión would lead the reorganization, create asset blocks that could include the Talara refinery, and enforce rapid, binding steps under the DL 674 framework.