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PERU: Petroperu Expects Operating Profit To Improve Ahead

PERU
  • Discussing its Q2 results on Friday, Petroperu said that it sees better operating profit for the rest of this year and next, aided by a gradual increase in production of high-quality fuels at the Talara refinery. The company also said that an international company had been hired to manage its comprehensive transformation process, which is currently in the market research stage identifying potential bidders.
  • Executives said that progress is being made in the implementation of market recovery strategies in line with the restructuring plan being executed in coordination with shareholders. The remarks followed a report last week that the government would inject resources into Petroperu to address the company’s financial problems.
  • On the macro front, focus this week will be on BCRP’s monetary policy meeting on Thursday, where a majority of analysts see the central bank delivering another 25bp rate cut to 5.25%. A full MNI preview with analyst views will be published ahead of the meeting, later this week.
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