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Peru Prepares Urgent Decree to Restructure Petroperú as Protests Grow in Talara

The finance ministry signals a ProInversión-led overhaul with no new capital injection.

Overview

  • Workers and civic groups marched outside the Talara refinery on December 31 to oppose what they call a covert privatization tied to the proposed reorganization.
  • The Economy and Finance Ministry said the Executive is drafting a Decreto de Urgencia for an integral restructuring that would empower ProInversión, with no Council of Ministers approval reported yet.
  • Minister Denisse Miralles reiterated that the government will not inject fresh funds into Petroperú, noting about S/17,000 million in transfers since 2022.
  • Talara’s mayor warned that Petroperú’s liquidity shortfall threatens operations at the Nueva Refinería Talara and fuel supply to regions reliant on the company, urging urgent financing and citing an alleged S/5,000 million state debt.
  • Unions demand a technical dialogue with the Executive, alleging planned asset sales and possible layoffs of about 1,000 workers under the reorganization.