Petroperú regularizes contributions of S/4,000 million for its Social Capital made in 2022

During the last General Shareholders’ Meeting (AGM) of Petroperuorganized last Thursday, April 13, it was decided to approve the increase in Social Capital, due to new contributions made by the State, in the amount of S/ 4,000 million for the state company.

Although at first the information was addressed as a new injection of capital for the oil company, the truth is that it was only a regularization of the contribution made in 2022 to guarantee the supply of fuels in the national market.

In this way, the JGA resolved that the new social capital of Petroperú, to be entered in the accounting books for the period 2022, will amount to the total amount of S/ 9,572 million 168,000.

Specialists consulted by La República explain that, in the State, capital contributions go through a series of procedures that, in the case of Petroperú, go from the board of directors led by Carlos Vives Suárez to the JGA, made up of Minem and MEF.

“The capital is incorporated from the moment you receive the money, another thing is that the accounting entry comes later,” said the source.

It should be noted that the contribution of S/4,000 million to Petroperú, made in October 2022, was aimed at maintaining the continuity of the strategic operations of the state hydrocarbons company.

This was established by Emergency Decree No. 023-2022 “which establishes measures in economic and financial matters aimed at avoiding fuel shortages at the national level.”

“The ships were waiting at sea to unload the fuel. It was an emergency situation to ensure the supply of the domestic market,” he said.

At no time was it a contribution to make investments or to start up the New Talara Refinery (NRT). The S/4,000 million were even administered by Banco de la Nación, which made fuel payments as required.