Petroperú reported profits of US$8 million from Block I in 2022

The president of the Petroperú board of directors, Pedro Chira, reported that Block I reported profits of US$8 million for the state oil company in 2022.

During her presentation before the Congressional Budget Committee, Chira Fernández highlighted that, of the US$23 million of positive EBITDA that Petroperú reached in 2022, at least US$8 million correspond to the exploitation of the deposit that was entrusted to them until December 2023. .

“We are making the flows of each of the batches [hacia la Nueva Refinería de Talara] and they are all positive. Furthermore, that small batch of 500 barrels per day has given us a profit of US$8 million, imagine what we would do with 20,000 barrels,” he explained, alluding to the reversal of more batches in the northwest basin.

Petroperú expects a recovery of its EBITDA and an improvement in the gross margin of between 8% for 2023 and 7% for 2024. In addition, it aims to have a 34% market share in 2023 -currently reaching 27%- with the production of the NRT, and not only with the importation of fuels.

At another time, Petroperú explained that it will seek to recover 10% of its participation in taps and service stations. With this, it would achieve the expected vertical integration from the exploitation of oil to its retail sale.

“We are still going to start only the plan of how Petroperú can integrate [verticalmente], previous legal analysis. It will still be measured based on the strategies that Arthur D. Little (international consultant) is working to implement [esta estrategia] forward,” said Beatriz Cristina Fung, general manager of the oil company.

“We have within the strategic objective the vertical unit of the company and the Talara lots are essential for us,” Chira remarked.