Online with the agency credit rating American Fitch Ratings, the rating agency Apoyo & Asociados (A&A) highlighted the benefits that the full operation of the New Talara Refinery (NRT) would have.
Thus, according to the report of the A&A rating agency, it is highlighted that, when the NRT reaches its optimal operation, Petroperú’s refining margins would improve significantly. This, as a consequence of the greater flexibility of the cost structure and the increase in income, given the great load and production of derived products of greater economic realization.
“The rating agency expects that, with the NRT operating, leverage levels will decrease Product of higher cash generation due to the recovery of operating margins. Likewise, these flows from the start-up would help the company to repay the debt contracted in recent years and reduce its need for government support,” he said. A&A in your report.
In addition to this, the rating agency Apoyo & Asociados pointed out that it is key for Petroperú to reverse the deterioration that it has shown in its performance, which reduced its cash generation capacity and weakened its operation. Thus, as part of the actions that the state oil company must comply with, is the presentation of a restructuring plan to strengthen the governance and financial sustainability of the company, as well as its operations.
Talaran crude. Petroperú needs to ensure the supply charge guarantee at production cost and not at international value for its new refinery. Photo: diffusion
It is worth mentioning that said restructuring plan must be presented to the General Shareholders’ Meeting of Petroperú, at the latest, on July 31 of this year, which has been developed by the international specialized consultant Arthur D Little LLC in consortium with Columbus HB Latam.
Finally, the rating agency indicated that “the company is in an advantageous position related to with the low probability of having competition from new refineriessince the refining industry presents high entry barriers, due to the high levels of investment required for its operation and the presence of economies of scale”.
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Advance. The head of the Ministry of Energy and Mines, oscar veraindicated that in a maximum period of 15 days the Talara Refinery will be producing LPG, thus ensuring the supply of the north.
Source: Larepublica
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