Growing controversy in Peru over the proposal to privatize PetroPerú.

The recent proposal to privatize PetroPerú, the emblematic state-owned company that has been a fundamental pillar of the Peruvian economy, has sparked intense debate in public opinion and among the country's political sectors. This move, driven by the current government of Dina Boluarte, has been labeled by many as a betrayal of the popular will, occurring in a context where opposition to privatization has been a constant in Peru's recent history, especially since President Alberto Fujimori was unable to carry out such a process in 1996 due to social and union resistance. At this time, the government has announced that its plan is not merely to privatize, but to carry out a "corporate restructuring." However, critics argue that these actions are more of a facade to conceal the liquidation of PetroPerú, a process that would begin with the sale of key assets, starting with its headquarters in San Isidro, Lima. This strategy has raised suspicions, particularly due to the implication of private interests, such as those of the company Aenza, formerly known as Graña y Montero, which would have an interest in managing these assets. The media campaign accompanying this announcement is a cause for concern. Several media outlets, including those with the highest circulation in the country, have actively participated in criticizing PetroPerú, leading many to question the true motives behind this coverage. It is no coincidence that the Graña y Montero Group has ties to some of these media outlets, raising questions about the independence of the press and its role in shaping the public narrative. The situation becomes even more complicated when considering that the Public Opinion Commentary from September 27, 2024, which promotes the restructuring, arises from a political environment where Boluarte's management has been questioned. The insinuation that the company could be liquidated, through the recommendation to hire an international firm to manage this restructuring, suggests that the groundwork is being laid for dismantling rather than safeguarding PetroPerú's assets. Historically, Law No. 28244, enacted in 2004, excluded PetroPerú from any form of privatization, a decision supported by a broad political spectrum. This legal framework is now on shaky ground, and questions arise about the possibility of an emergency decree overriding a law sanctioned by Congress. This dilemma poses profound implications regarding respect for regulations and legality in the management of state assets. As the government continues its advance toward this privatization or liquidation, the insistence of some sectors on declaring PetroPerú insolvent generates even more distrust. Rumors about the interest of banks associated with influential economic groups, such as the Romero Group, in acquiring assets of the state-owned company suggest that conflicts of interest are very much present in this process. However, it is crucial to emphasize that PetroPerú is not a bankrupt company. Despite facing a liquidity crisis, the company has assets valued at over $10 billion and has demonstrated its ability to generate substantial revenue for the state over the years. Between 2019 and 2023, it contributed over $5.994 billion in taxes, which calls into question the narrative of insolvency that has been spread. The recent commissioning of the modern Talara refinery, designed to be one of the most advanced in the region, is another demonstration of PetroPerú's viability. With considerable production capacity, this refinery represents not only a technological advancement but also a significant opportunity to revitalize the company's market position, which has been undermined by unfair competition and the practices of foreign conglomerates. Ultimately, the situation of PetroPerú and the steps being taken by the government must be closely monitored. The possibility that the fate of a company that has been a pillar of the Peruvian economy could fall into the hands of private interests raises a series of questions about the future of the energy sector in the country. Citizens are called to be active participants in this debate, questioning decisions that affect such a vital and strategic resource as oil, and consequently, the energy future of Peru. History may judge this moment as a turning point in how state resources are managed and how the balance between public and private interests is defined in the country.