Petroperú saved S/ 598 million in consulting and advisory services in 2021

Petroperú assured that the decision to dismiss consulting and advisory contracts, as well as to terminate “expendable consulting” contracts, represented a reduction in its spending of S/ 598.2 million at the end of 2021.

In a balance at the end of 2021, the state oil company also specified that the New Talara Refinery will begin its gradual start-up next April, with the start-up of the process units of this new refining complex, which will contribute not only to having cleaner fuels but to continue offering more competitive prices.

“In a historic milestone, Petroperú returned to oil and gas production activities, after 25 years, by taking control of the production operations of Lot I in the Talara oil basin, from December 27, 2021. Along these lines, Petroperú approved with Perupetro the Draft License Contract to operate Block 192 and the contractual transfer of 100% of Block 64, both in the Loreto region″, he referred through the statement.

On the other hand, the oil company registered an improvement in its 2021 economic results with respect to what was projected and in relation to the negative results obtained in 2020. Thus, in 2021 an EBITDA of US$ 320 million was obtained.

Another relevant issue is having initiated the procedures for the recognition of more than US$ 800 million that correspond to the coverage of the insurance policy for the arrears originated in 2020 and 2021, as a consequence of the pandemic, in the Modernization Project. Talara Refinery (PMRT).

“Over the last few months, Petroperú has been offering the most competitive fuel prices at its sales plants nationwide, thanks to the optimizations it has made in hydrocarbon acquisitions and expense budgets, which has also allowed it to increase its participation in the country’s fuel market, which was found to be in decline”, he stressed.