Uncertainty at Petroperú: The search for a new board of directors continues.

The wait for a new board of directors for Petroperú has once again been prolonged, following the announcement from the President of the Council of Ministers, Gustavo Adrianzén, who revealed that two of the proposed candidates for the shortlist have decided to withdraw. This situation has generated increasing uncertainty surrounding the management of the state oil company, which faces financial and leadership challenges that need to be urgently addressed. Adrianzén expressed his regret in a recent press conference regarding the lack of progress in this process and the difficulty in forming a definitive list.

The General Shareholders' Meeting of Petroperú had held deliberations with the hope of appointing a new board, however, the efforts proved fruitless. The situation has led government authorities to suggest that the wait may continue, highlighting the importance of not rushing the selection of the new directors. Rómulo Mucho, head of the Ministry of Energy and Mines, urged patience, emphasizing that the current context should not be cause for alarm, given that the company appears to be making favorable progress in terms of cash flow and sales.

Mucho also emphasized that, according to the current urgent decree, the responsibility for appointing the board now lies with the National Fund for Financing Business Activities of the State (Fonafe). Despite the setbacks, the minister conveyed a message of optimism, stating that Petroperú's refinery is undergoing a process of growth and operational improvement. However, this positive message contrasts with the concerns arising from the lack of clear and stable leadership within the company.

The names that had been mentioned as potential new directors include figures such as Alejandro Narváez, Edmundo Lizarzaburu, and Jorge Pesantes, among others. Interestingly, Antonio Manosalva is the only one remaining from the directors who resigned in September, which could reflect a resistance to change in the company's leadership structure. However, the lack of a definitive consensus on the names to propose continues to generate unease.

Erick García, former general director of hydrocarbons at Minem, has expressed concern over the instability resulting from the absence of an active board at Petroperú. According to him, the lack of clarity in management can be interpreted as a lack of confidence from the financial market, as well as an obstacle to addressing the issues facing the company. García warns that strong leadership is essential for the proper management of debt and for establishing a clear business direction.

For his part, César Gutiérrez, former president of Petroperú, emphasized that the challenges facing the state oil company are of a financial and commercial nature, making the appointment of a new board even more necessary. The delay in this process, according to Gutiérrez, highlights the lack of authority in the involved ministries, suggesting that the decision regarding Petroperú's future should not solely depend on the Executive but should be the result of an agreement in the General Shareholders' Meeting.

The process of selecting a new board is not only critical for Petroperú's management but also has repercussions on the government's perception of its ability to handle crisis situations in state-owned enterprises. The current uncertainty could affect investment and confidence in the company, factors that are vital for its stability and long-term growth.

García also stressed the need for the new board to have a clear mandate and be supported by a structure that ensures transparency and credibility. In his view, it is essential for Petroperú's management to be restructured to allow for more efficient and professional decision-making, which also includes reviewing the representation of workers on the board.

The situation at Petroperú underscores the importance of having strong leadership capable of facing the challenges of the energy sector in the country. As time goes on and the company remains without a new board, the expectations of shareholders and the general public continue to grow, as does the pressure on the government to act swiftly in resolving this matter. The future of Petroperú largely depends on the Executive's ability to redirect this situation and provide the leadership the company needs to move forward.