Overview
- The Junta General de Accionistas removed four directors and appointed Oliver Stark president with three new directors in a change filed with the SMV that took effect on August 7.
- The outgoing board had approved a surprise August 5 reorganization that created Internal Audit, Risk and LAFT units and included immediate pay increases, a move that prompted executive pushback and government intervention.
- Petro‑Perú faces acute liquidity and reporting problems: management reported a US$121 million net profit to June but working capital was negative about US$1,427 million and audited 2025 results showed larger losses than the company had disclosed.
- The new board is empowered to pursue a Vehículo de Propósito Especial (VPE) to attract external financing for crude purchases and operations, while ProInversión has begun selling non‑core assets, netting US$1.18 million from two properties.
- Unresolved internal allegations say the prior reorganization bypassed normal candidate vetting and may have shielded trusted staff, raising legal and reputational risks that regulators and creditors will now watch closely.