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LatinNews Daily - 23 December 2025
In brief: Peru’s gov’t rules out further Petroperú bailouts
*Peru’s economy and finance minister, Denisse Miralles, has ruled out any further bailouts for the troubled state oil company Petroperú. During an interview with local news network RPP, Miralles said that President José Jerí’s government is planning new measures “so that this state company, which belongs to all Peruvians, stops generating costs for the State”. She added that Petroperú has been slow to provide financial information demanded by the government. The company has been in a state of crisis for several years after modernisation works at its refinery in Talara, Piura region, which were completed in 2022, went heavily over budget. Petroperú was bailed out in February 2024 under Jerí’s impeached predecessor, Dina Boluarte (2022-2025), but seven months later the company’s entire executive board resigned en masse, arguing that it should not be provided any further lifelines and should be allowed to either go bankrupt or be privatised. Since November this year the company has been directed by Luis Alberto Canales Gálvez, who has said that it cannot continue creating costs for the government.
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- Publishing note