The directory of PetroPeru has approved a series of measures that seek to restructure and save the company, as announced by its president, Oliver Stark, in an interview with El Comercio. The economist has indicated that on this occasion they are “tightening their belts” for the period 2024-205.
Among the measures that have been implemented is the abandonment of the main building: “We are going to leave the building, via concession or sale,” said Stark. The hiring of a private administrator for the company, the reduction of one third of the personnel and the recovery of maritime terminals.
PetroPerú: the changes that the board has approved
President Oliver Stark detailed that all staff would move to Talara, with the exception of the legal or purchasing areas: “Maybe a group will stay in an office here, but it would be on a single floor that we would rent to the dealership,” he specified to El Trade.
Another of the most important measures is the hiring of a company that will manage Petroperú as a private CEO, known as the Chief Transformation Office (CTO). “This means that Petroperú will commit to adopting efficiency measures since this CTO assumes general management,” Stark explained.
What was the last thing the Government said about Petro Perú?
The Minister of Economy and Finance, José Arista, stated that the Peruvian Government will prevent Petroperú from entering “economic insolvency” after the reduction of its investment grade by Fitch and S&P. During his questioning in Congress weeks ago, Arista emphasized the need for “urgent actions”, such as reducing costs, making businesses profitable and selling inoperative assets, without privatizing the company.
In addition, he mentioned that they will seek to “recover control of Petroperú under the scope of Fonafe”, for which a bill will be presented. He also mentioned that measures are being evaluated with the Ministry of Energy and Mines to be presented to the Council of Ministers next week.
Oliver Stark was recently appointed president of Petroperú
Oliver Stark Preuss is an executive with extensive experience in the mining and commercial sectors. Between 2003 and 2005, he was general manager of the Gildemeister Group, an automotive industry company in South America. Furthermore, between 2018 and 2022, he held the position of Administration and Finance Manager at the Austria Duvaz Mining Company.
His appointment at Petroperú marks the beginning of a new stage, where it is expected to optimize the company’s management and address the challenges of the sector with a strategic and renewed vision.
Source: Larepublica
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