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PERU: Finance Minister Arista Says Petroperu Could Pay Debts In 4-6 Years

PERU
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  • Finance Minister Jose Arista said yesterday that Petroperu could pay its debts in four to six years thanks to profits from the Talara refinery, according to a report from La Republica. He said that Talara currently produces close to 80k b/d, and that peak production of 95k b/d is expected in December. Arista also said that Petroperu will have a new board installed this week, following the resignation of the previous board last month amidst the recent liquidity crisis at the company.
  • As a reminder, the government announced a rescue package for Petroperu last month, saying that it would take responsibility for its debt payments due in the second half of this year. BCRP Governor Velarde has said that the rescue packages for the company this year will cost 0.6% of GDP.
  • The domestic data calendar remains light today, with the next event of note being next week’s BCRP MPC meeting on Thursday. Following the soft September CPI data, many analysts are tilting towards another 25bp rate cut being delivered next week.
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  • Finance Minister Jose Arista said yesterday that Petroperu could pay its debts in four to six years thanks to profits from the Talara refinery, according to a report from La Republica. He said that Talara currently produces close to 80k b/d, and that peak production of 95k b/d is expected in December. Arista also said that Petroperu will have a new board installed this week, following the resignation of the previous board last month amidst the recent liquidity crisis at the company.
  • As a reminder, the government announced a rescue package for Petroperu last month, saying that it would take responsibility for its debt payments due in the second half of this year. BCRP Governor Velarde has said that the rescue packages for the company this year will cost 0.6% of GDP.
  • The domestic data calendar remains light today, with the next event of note being next week’s BCRP MPC meeting on Thursday. Following the soft September CPI data, many analysts are tilting towards another 25bp rate cut being delivered next week.