Labor unions, notably the Federation of Petroleum Workers (FENPETROL) and the Petroperú Workers’ Union (FSTPP), reject the reorganization, labeling it a “dismemberment” intended to undermine the company’s public nature and expose assets to predatory private interests. They warn of mass layoffs potentially affecting up to 1,000 employees and express concern over losing Petroperú’s social responsibility role in maintaining fuel supply to hard-to-reach areas like the jungle and highlands. The unions condemn government efforts to remove worker representation from the Petroperú board, highlighting political interference following recent board resignations.
The Minister of Economy, Denisse Miralles, asserts the reorganization is necessary to restore financial sustainability without compromising labor benefits or service continuity. However, critics point to conflicting signals, with the Ministry of Economy linked to ProInversión and facing accusations of conflicts of interest. Former Energy Minister Carlos Herrera described the process as effectively privatizing Petroperú, contradicting official denials by Prime Minister Ernesto Álvarez, who claims no outright privatization is planned given limited investor interest.
The reorganization’s implications extend to the national energy market and regional economies, with potential disruptions looming if Petroperú’s production capacity declines. Analysts highlight risks to fuel supply security, particularly in the Amazon and northern regions. The outcome will depend on ProInversión’s technical assessments, decisions on asset sales or partnerships, and the government’s ability to balance fiscal constraints with maintaining Petroperú’s public utility functions.
This article was curated and published as part of our South American energy market coverage.
