This was stated by the President of the Council of Ministers of Peru, Gustavo Adrianzén, in a television interview, in which he explained the need to take measures in view of the complicated financial situation of the company.

The Peruvian government has expressed its support for a change in governance at Petroperú and not "a simple reorganization," which is why it has asked to do "much more" and is already working on the call for international contracts to address the "critical" situation of the state oil company.

This was stated by the President of the Council of Ministers of Peru, Gustavo Adrianzén, in a television interview, in which he explained the need to take measures in view of the complicated financial situation of the company, which has been plagued by management problems for years.

It is expected that an international administrator will be called in to reverse the current situation, in order to avoid the bankruptcy or liquidation of the company, which has been completely ruled out by the Government of Dina Boluarte.

"One of the options was to let things continue as they were, pouring billions into it, and continue living happily, but the critical financial situation forces us to take measures," Adrianzén said.

At the end of August, Petroperú's directors requested that the Peruvian government take a decision "urgently" and "soon" to address the current conditions of the state oil company, which make corporate management "unsustainable."

Specifically, the company's executives presented three options to the Peruvian government, which is the 100% shareholder of Petroperú, including continuing to inject capital into the company -- as until now, without asking for or ensuring credible organizational changes that seek its efficiency --, accepting its bankruptcy or liquidation with the legal and financial obligations that it could face, or deciding on a profound restructuring that enjoys credibility.

This would entail an injection of capital from the Government on the condition that actions to improve organisational efficiency be carried out, which would be implemented with the support of a firm with proven international experience, according to the directors in a letter to the public.