The National Federation of Petroleum, Energy and Allied Workers of Peru questioned a planned change of direction at state oil company Petroperu. The union, known as Fenpetrol, stated that recent executive decisions fail to mark a clear break from restructuring policies applied over recent months.
The complaint followed an announcement by Economy and Finance Minister Elmer Cuba regarding a new management direction for the company. Fenpetrol said that official statements by Cuba have not matched the actual decisions taken by the new administration.
In a formal statement, Fenpetrol urged the current leadership to review unpaid financial commitments linked to Petroperu. Figures compiled through December 2025 show pending obligations totaling 6,093.5 million soles.
Breakdown of pending obligations
The largest single item identified by the union involves 3,112 million soles tied to the Amazon tax credit. Another 1,863 million soles relates to the early recovery of the IGV sales tax for the Talara Refinery Modernization Project.
Additional amounts include 450 million soles for a transfer to the ONP Pension Fund under Decree Law 20530. The union also cited 408 million soles for environmental remediation caused by cuts along the Norperuano Pipeline, 200 million soles for remediation linked to privatized units, and 15 million soles for the technical abandonment of wells.
The list concludes with 45.5 million soles owed by the Armed Forces for fuel supplies. Fenpetrol insisted these funds must be included in discussions regarding the company's financial future and urged the board to demand state fulfillment of the debts.
Concerns over leadership and ProInversion
Fenpetrol voiced specific concerns over the appointment of Oliver Stark Preuss as chairman of the Board of Directors of Petroperu. The union noted that Stark previously served in an administration that advocated for private operators to manage the firm and proposed selling off selected business units.
The union questioned whether the current plan aims to strengthen Petroperu as a state enterprise or continue a restructuring model that has failed to build its strength. It argued that supervision by ProInversion limits the company's independence in making financial and corporate decisions.
Fenpetrol also disputed Cuba's claims of impressive results achieved by ProInversion. The federation pointed out that after seven months of implementing the oversight process and spending public resources, no verifiable public data exists to prove major gains in operational efficiency or financial health.
Demands for forensic audit and reform
The federation called for a comprehensive forensic audit of Petroperu to examine how public funds were allocated during past financial support packages. It demanded that former managers answer for decisions that resulted in repeated state bailouts.
Fenpetrol emphasized that it does not oppose reforming the oil company. However, the union argued that restructuring should modernize management, improve corporate governance, and boost competitiveness rather than shrink the firm's role or split its operations.
To resolve the crisis, Fenpetrol urged the government to provide financial predictability and backing. It called for a clear restructuring plan with verifiable goals, timelines, and outcomes while preserving Petroperu's strategic role and technical autonomy.
