Entity

Petróleos del Perú, universally known as PetroPeru, is Peru's national oil company — a state-owned enterprise under private law dedicated to the transportation, refining, distribution, and commercialization of fuels and other petroleum products. It ranks as the most strategically important energy company in Peru and is among the country's largest contributors to the national treasury.

PetroPeru is 100% owned by the Peruvian State, with shareholding split between the Ministry of Energy and Mines (60%) and the Ministry of Economy and Finance (40%). It operates under private law, organized as a sociedad anónima (S.A.) under Legislative Decree No. 043, and has been listed on the Lima Stock Exchange since 2010.

History

PetroPeru was established on 24 July 1969 when President Juan Velasco Alvarado's military government expropriated and nationalized the International Petroleum Company (IPC), a subsidiary of Standard Oil. In its earliest days, international oil companies refused to cooperate with the new national company due to the nationalization, yet Peruvian technicians and engineers successfully maintained continuous fuel supply to the country without external support.

Operations & Business Lines

PetroPeru operates across three core segments:

• Crude Oil Transportation — Operates the North Peruvian Pipeline (Oleoducto Nor Peruano) and Northern Branch Pipeline, transporting crude from the Amazon basin to the Pacific coast; also deploys a contracted maritime and river fleet

• Petroleum Refining — Owns and operates five of Peru's six refineries: Talara (Piura), Conchán (Lima), Iquitos (Loreto), El Milagro (Amazonas), and Pucallpa

• Distribution & Commercialization — Manages ~30 product terminals and the Petrored branded service station network of over 500 affiliated outlets, the largest in Peru

Refining Capacity

PetroPeru's total nameplate refining capacity is approximately 94,500 bbl/d, representing around 46% of Peru's total national refining capacity. The flagship New Talara Refinery (NRT), completed through the Talara Refinery Modernization Project (PMRT) executed by Spanish contractor Técnicas Reunidas, accounts for the bulk of this capacity at ~95,000 bbl/d and features 16 processing units including the ExxonMobil-licensed Flexicoking unit and a Honeywell UOP FCC unit.

Product Portfolio

PetroPeru produces and distributes a full slate of refined products:

• Transport fuels: Superplus Gasoline, Superplus Gasohol, Diesel Ultra, Biodiesel

• Aviation fuel: Turbo A-1 jet fuel

• Marine fuels and industrial oils

• LPG

• Specialty products: Solvents, naphthenic acid, asphalts

Upstream & Midstream

Beyond refining, PetroPeru holds upstream ambitions, having restarted oil production at Block I (North Peruvian coast) in 2021 and pursuing exploration in Block 64 and Block 192 in the Amazon region. The Norperuano pipeline system is a critical piece of national infrastructure connecting Amazon crude production to the Bayóvar terminal on the Pacific coast.

Financial & Social Role

The company is a major contributor to Peru's fiscal revenues and directly employs ~2,500 people. PetroPeru also invests in education, health, and sustainable development programs across Peru's regions, particularly in areas near its operational facilities. Despite the scale of the NRT modernization investment (over USD 5 billion), the company has faced financial stress and credit challenges linked to cost overruns on the PMRT project.