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Andean Group - July 2024
Embattled Petroperú seeks structural changes
Oliver Stark, the president of Peru’s state-owned oil company Petroperú, announced in an interview with national daily El Comercio on 24 June that the company’s board of directors had approved eight measures aimed at addressing the extreme financial difficulties it is currently facing. Stark, a US-born economist, was appointed on 12 June as chairman of Petroperú’s executive board, having been serving as de facto president of the company since the resignation of Carlos Linares Peñaloza on 26 April. Stark, who has previously held executive positions in several companies in the mineral sector, assumes leadership of a struggling Petroperú in need of drastic operational and financial changes.
