Peruvian oil company Petroperú projected to be self-sustaining by 2032

Peru's state-owned oil company, Petroperú, is on track to achieve financial self-sustainability by 2032, according to authorities overseeing its ongoing restructuring. The ambitious plan aims to transform the corporation into a financially independent entity, ensuring it no longer requires support from the national treasury.

Ángel Delgado, director of the reorganization project managed by the Private Investment Promotion Agency (Proinversión), stated that the goal is for Petroperú to operate as a "transformed corporation, financially self-sustainable, and thus, never again have to resort to the public treasury." In recent years, public funds exceeding 17 billion soles (approximately $5.03 billion) were injected into the company through capital injections and sovereign guarantees, a sum equivalent to about 1.5% of Peru's GDP.

“

to reach 2032 as a transformed corporation, financially self-sustainable, and thus, never again have to resort to the public treasury.

The initial phase of the restructuring focuses on reinvesting Petroperú's earnings into recovering the operational value of its assets and securing crude oil supply to maintain continuous operations. This strategy is designed to fortify the company's balance sheet, with the corporate re-engineering expected to be consolidated by 2032. Delgado noted that Petroperú's financial indicators will soon be validated by global markets as it regains its investment grade.

Further details of the company's new corporate governance plan will be released in the coming weeks, with the establishment of initial asset blocks, including non-critical real estate like beach houses and clubs, set for July. Petroperú reported significant losses in 2025, amounting to $468 million, which represented 54.5% of its equity, alongside a 2.5% drop in sales. However, the company recently announced a net profit of $208.4 million for the first third of 2026, attributing this positive performance to optimized value chains, supply systems, and more efficient inventory and cost management.

“

the re-engineering of Petroperú will transform the company into a strategic enabler of the sector and cease to be a fiscal contingency for the national economy.