Petroperú considers that the short-term revolving credit lines granted by local and foreign banks, and the cash flows generated by the Talara refinery, will allow it to increase its profit margins and meet its obligations in the medium term.
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Petróleos del Perú SA – Petroperú reported a net loss of US$822.7 million in 2023, according to the publication of its unaudited financial statements for that period.
According to what was reported to the Superintendency of the Securities Market (SMV), among the factors that led the oil company to this bad result are the reduction of income from the sale of fuel in the local market (space lost to competition), higher expenses operational and financial, and the maintenance of the North Peruvian Oil Pipeline (ONP).
Regarding the Talara Refinery Modernization project (PMRT), which aims at technological development that involves the construction of new industrial facilities, as well as the updating and expansion of existing ones, progress is 99.20%.
Petroperú considers that the short-term revolving credit lines granted by local and foreign banks, and the cash flows generated by the Talara refinery, will allow it to increase its profit margins and maintain enough cash to meet its obligations and reverse the current negative working capital in the medium term.
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Source: Larepublica
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