Petroperú justifies the request for financial assistance to avoid fuel shortages | economy

PetroPeru Confirmed – through a statement – ​​that his administration is authorized to make the request through the Ministry of Energy and Mines (mine), a new funding package for the state to address its various support needs, totaling US$3.2 billion.

According to Canal N, it is worth remembering. August 3The board of directors of the company presented various demands mineThe first of them, The Capitalization Financial Assistance (Loan) USD 750 million2022 by the administrator, including interest, which was extended to July 2023.

read more: They are extending the inclusion of bottled LPG in the fuel fund till the end of October

Background

As pointed out on that occasion, the Company accepted such debt during the year to avoid such debt Limitation on supply and sale of fuel.

With its request for capitalization, the company now seeks to collect the amount as debt, and vice versa Go as capital contribution by its stakeholders (Ministry of Economy and Finance-MEF and Minem).

But, in this case, the company has requested Continue with application Easy cancellation of documents up to S/500 million, as well as a Capital contribution of S/5,573.5 million.

Scarcity again?

within it Notice Published this Thursday, Petroperú justifies its request for such financial assistance, arguing, Again That it is necessary “To mitigate the risks of eventual fuel shortages at the national level, especially in the forest and in different parts of the country, where other suppliers are out of reach and unprofitable.”

Add as seen Compulsory To present the above request In the face of extraordinary and irreversible factors This affected the start-up of the new Dalara Refinery (NRT), which included communal clashes and Cyclone Yaku.

read more: Petroperú with financial support: million dollar requests from Minem

These circumstances, he asserts, caused a delay At the start of the new refinery complex, which was recently completed.

“Similarly, the request responds to the need to maintain sufficient inventories to guarantee fuel supplies in the face of the immediate effects of an El Niño event.” Collaboration.

It also ensures the requested support It has nothing to do with it Payment of duties for new construction and commencement RefineryIt faces the company’s own resources.

What do the experts say?

to César Gutierrez, former president of PetroperuThe oil company’s new orders mean USD 2,200 million direct contributionand guarantees of US$ 1,000 million (a total of US$3.2 billion); Also an extension of S/ 500 million in cancellation documents until 2025.

In this sense, the expert considered that these new requirements They are excessive of that company. He warned, Not sure if this will be the last requestThat is, if they make new demands for more resources from the state.

“Management, the board of directors and the general meeting of shareholders (made up of MEF and Minem) will continue to be complicit in waste. “A depoliticized board of directors and executives is needed because (the new order) has no guarantee that concrete figures will be necessary.”He insisted.

read more: The Control Office warns of the risk of damage to the pipeline that could affect the environment

Pressure

For his part, Carlos Paredes, former head of the state oil companyI assume that Can’t press Arguing that the country is short of fuel, demanding more resources.

“But there are many private companies that can supply fuel, you can’t pressurize, use pressure or extortion, if you don’t pay me there will be a shortage, please, let’s be a little more serious. “He instructed.

Regarding the request for financial assistance, Paredes recalled LFirst contributions The government awarded Petroperú last year Conditional To make a Change from him Corporate GovernanceBut in that, he said, They made no progress.

“I did not see the managers change, the result of the public competition to select a leader, to hire the proposed new managers; “It is not, there is no transparency,” He pointed out.

Private parties asked Petroperú to negotiate a lot

On the other hand, Management Had access to current correspondence operators A lot Northwest referred to Perupetro S.A. They reminded him of what they had requested. Before Petroperunegotiation extension The validity of their contracts expires this year.

read more: Perupetro insists on giving the Northwest Territories directly to Petroperú

It may be recalled that the above government agency had argued before Energy and Mining Commission Negotiator A Direct Award of Lots I, VI and Z-69 to PetroPeru, Because it was the first to demand that those deposits in the Dalara Basin be handed over to him.

Company Sabat For example, operating Lot VII-VI, he recalled in the aforementioned letter, which he sent to Perupetro SA. On March 23, 2020 When he asked for the continued operation of the area, he requested direct negotiations for the same.

Instead, the state-run oil company raised its first demand to take over those spaces On March 9, 2021.