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Peru Transfers S/86.4 Million to ProInversión to Launch Petroperú Asset Overhaul

The emergency decree enabling asset sales has triggered union plans for a strike.

Overview

  • MINEM executed a S/86.4 million transfer to ProInversión to finance technical and legal work for Petroperú’s reorganization and potential asset sales.
  • Under DU 010-2025, ProInversión can administer, negotiate and transfer asset blocks, with a 60‑day window from January 1 to approve a promotion plan.
  • The decree permits sale of strategic assets, including the New Talara Refinery, and authorizes up to S/240 million for staff reduction processes.
  • Petroperú and Economy Minister Denisse Miralles state the process does not constitute privatization and that strategic assets will remain under state ownership.
  • Fitch withdrew all ratings for Petroperú and S&P cut the company to B- with negative watch, as unions set a 72‑hour strike from January 19 and experts question ProInversión’s capacity.