*The executive board of Peru’s state oil company, Petroperú, has called for the company to be put under “private management” in response to heavy financial losses. In a statement, the board said that Petroperú requires a bailout of US$2.2bn, and that “it would be irresponsible and immoral to request greater financing from the state, as there are no guarantees that the company would not once again request more state aid in the near future”. The statement added that, in light of this, “private management of the company is the best option for returning to financial self-sufficiency”. The board said that it had sent this proposal for consideration by President Dina Boluarte’s government.
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LatinNews Daily - 14 May 2024
In brief: Peru’s state oil company requests private management
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