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Peru’s Petroperú Restructuring Triggers Vacancy Bid and New Hearings

ProInversión is drafting an asset-promotion plan within about 30 days to address the state oil company’s severe financial deterioration.

Overview

  • Perú Libre lawmaker Segundo Montalvo announced a motion to vacate President José Jerí over Decree 010-2025, calling the reorganization a covert privatization.
  • Congress’s Consumer Defense Commission will reconvene a working session after senior officials missed the prior hearing, seeking attendance by the prime minister, economy and energy ministers, Petroperú’s chief, and Osinergmin.
  • The decree orders a patrimonial split of Petroperú into asset blocks and assigns ProInversión to promote them, with officials signaling a plan could be ready in roughly 30 days.
  • Participants at the congressional session flagged risks for consumers, including higher fuel prices, market concentration, and potential supply gaps in remote regions, while lawmakers voiced sharply divergent positions.
  • ProInversión’s restructuring lead argued the measure aims to avert insolvency rather than privatize the firm, and government officials say any private participation would occur within a public-ownership framework.