(Bloomberg) — Peru’s struggling state-owned oil company Petroleos del Peru SA will lower its financial guidance in upcoming days, on lower international prices and an unexpected pause at its largest refinery. Petroperu had forecast a net loss of $163 million for the full-year 2025, but has already lost $111 million in the first quarter, according to its financial statements. It lost $805 million in 2024. “I think we are going to adjust our guidance downwards, given what has happened in the first quarter,” said Petroperu’s chairman, Alejandro Narvaez, in a press conference. “In the next few days we will publish the new guidance.” Petroperu has faced a myriad of financial setbacks in recent years, largely due to the construction of its $6 billion Talara refinery, which was significantly over budget, delayed and whose construction required a large amount of debt. In April, Peru’s government agreed to convert 6 billion soles ($1.64 billion) worth of debt it had with the state-owned company into equity. Narvaez said the Talara refinery continues to be on pause due to anomalous ocean currents that prevent its oil from being transported. He said Talara had too much inventory at the moment and didn’t have the space to store excess production. It will be on pause at least until May 9, executives said. The company is also trying to get the Energy and Mines Ministry to assume financial responsibility over a massive oil pipeline that goes from Peru’s Amazon rainforest to the Talara refinery on the coast. The oil pipeline has not transported any oil for years and was expected to cost Petroperu $112 million in 2025. But he said the company continues to go through the same cash crunch that has impacted the company for years now. “What overwhelms and complicates us is to have short-term obligations that are higher than our short-term accounts receivable,” Narvaez said. “That stresses our cash flow, but we are coming out of it, we haven’t had any issues with missed payments.” More stories like this are available on bloomberg.com ©2025 Bloomberg L.P. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Petroperu’s expected losses for 2025 may be greater than earlier estimates.
