Learn languages naturally with fresh, real content!

tap to translate recording

Explore By Region

flag Peru allows private investment in Petroperu to fix its financial crisis, starting with the Talara refinery.

flag Peru has approved an emergency decree allowing private investment in parts of state-owned oil company Petroperu to address its severe financial crisis. flag The move, announced by interim President Jose Jeri, enables the company to reorganize into asset units, opening opportunities for private participation, particularly at the $6.5 billion upgraded Talara refinery. flag Petroperu reported $479 million in losses from January to October 2025 and $764 million in supplier debts, building on prior losses and a collapsed credit rating due to project cost overruns. flag Since 2022, the government has provided $5.3 billion in support. flag The restructuring aims to restore financial stability and technical management, amid political instability and a 2024 oil spill affecting northern coastal areas.

4 Articles

Further Reading