What is the immediate financial requirement for Petroperu to prevent fuel output halts, and what is the current status of its refineries?

Petroperu needs about $2 billion in loans—specifically private financing backed by state guarantees—to avoid halting fuel output from its refineries; without timely funding, fuel shortages are possible 'in the coming days'. Two refineries—Talara and Conchan—are at risk of halting production, while the Iquitos refinery in the Amazon has already stopped operations. Talara, operating at 60,000 barrels per day (below its 95,000-bpd capacity), faces constrained crude purchases due to insufficient funds.

What is the scale of Petroperu's debt, and how has recent investment—particularly in Talara—contributed to its financial crisis?

Petroperu's debt has reached $7.9 billion, leading to the loss of its investment-grade rating in 2022. The Talara refinery's modernization—completed in 2023 and costing over $6 billion—exceeded its original budget and significantly contributed to the company's debt crisis. Though the government approved a financial restructuring decree at the end of 2025 and has provided $5.3 billion in state support over the past three years, the company remains unable to secure sufficient working capital for crude procurement, triggering the current emergency.

Peru's State Oil Company Warns Fuel Output Could Stop Without $2 Billion Loans

Apr 28, 2026

Petroperu warns fuel production may halt within days without $2 billion in state-backed loans due to financial strain and high oil prices. Two refineries face shutdown risks as debt reaches $7.9 billion, impacting supply amid Middle East war-driven costs.

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Peru's State Oil Company Warns Fuel Output Could Stop Without $2 Billion Loans

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