Petroperu

What Petroperu does

Petroperú (Petróleos del Perú S.A.) is a vertically integrated, state-owned petroleum company founded in 1969 and headquartered in Lima, Peru. The company operates across the full hydrocarbon value chain, including upstream oil production from blocks Lot X, Lot Z-69, Lot 64, and Lot 192 (domestic crude production approximately 104,000 barrels per day), midstream transportation via the 1,300 km Oleoducto Norperuano pipeline, and downstream refining through the 95,000+ bpd Nueva Refinería Talara (featuring Flexicoking technology for heavy crude conversion), the 12,000 bpd Iquitos refinery in the Amazon, and the Conchán refinery near Lima. Downstream operations include a nationwide network of branded and franchised service stations (Petrored), VAO convenience stores, and Gas Natural Sur natural gas distribution in southern Peru.

The company generates revenue primarily through unit-priced sales of refined petroleum products including gasoline (octane grades 84-97), diesel, aviation fuels (Jet A-1, AvGas 100LL), marine fuels (IFO-380, IFO-180, Diesel Marino No. 2), industrial oils, LPG, asphalt, solvents, and naphthenic acids. Distribution channels include direct wholesale from refinery plants, retail service stations (both company-operated and franchised through Grupo KIO and Selvacor partnerships), and pipeline tariff revenue. Customer segments span retail fuel consumers (target 35% market share 2025-2030), industrial/wholesale buyers, aviation and marine operators, southern Peru natural gas customers, and thermal power generators in isolated regions such as Iquitos (Genrent del Perú, Electro Oriente).

Petroperú is undergoing significant financial restructuring under Decree of Urgency N° 010-2025, managed by ProInversión, which is opening the company to private investment while maintaining state ownership. The company has received over US$5.3 billion in government support between 2022 and 2024, including a US$145 million capital injection in March 2026 and authorization for a US$2 billion credit line. Audited 2025 results showed a US$601.5 million net loss and US$2,296.4 million negative working capital, but the company has reported a 2026 financial turnaround with US$248.4 million accumulated net income through May. The Talara refinery modernization, completed in 2023 at a cost of US$6,530 million (four times original estimate), has driven accumulated losses exceeding US$8 billion and a tenfold debt increase since 2013. Governance has been unstable with four board chairs in five months in early 2026 and worker strikes in January 2026 protesting privatization concerns.

Name

Petroperu

Legal name

Petróleos del Perú - Petroperú S.A.

Website

https://petroperu.com.pe

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Petroperú is Peru's state-owned, vertically integrated petroleum company operating upstream oil blocks, the 1,300 km Oleoducto Norperuano pipeline, refineries totaling 100,000+ bpd capacity, and nationwide fuel distribution, currently undergoing patrimonial reorganization to admit private investment.

Ownership category

akta.pro rank

Product category

Petroleum Refining & Fuel Distribution

NAICS

Petroleum Refineries (32411), Crude Petroleum Extraction (21112), Petroleum Bulk Stations and Terminals (424710), Petroleum and Coal Products Manufacturing (3241), Cyclic Crude, Intermediate, and Gum and Wood Chemical Manufacturing (325194)

SIC

Petroleum Refining (2911), Crude Petroleum & Natural Gas (1311), Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172), Miscellaneous Products Of Petroleum & Coal (2990)

akta.pro primary industry

Distillation & Fractionation (Crude, Condensate & NGL Splitters) (EUALAGAD)

akta.pro secondary industries

Refinery Offsites, Storage & Loading (Tankage, Truck/Rail/Marine Loading) (EUALAGAK), Refinery Blending & Product Quality Control (Gasoline/Diesel/Jet Blending, Additives) (EUALAGAJ), Carbon Black & Coker Products Feedstocks (Petroleum Coke, Carbon Black oils) (EUALAHAI), Sulfur & Acid Gas Feedstocks (Sulfur, Sulfuric Acid, Mercaptans) (EUALAHAH)

Keywords

• Petroleum refining
• Fuel distribution
• Crude oil production
• Natural gas distribution
• Pipeline transportation

Headquarters

HQ city

Lima

HQ country

Peru

HQ region

Latin America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Infrastructure, Operations, Personnel, Others

Revenue model

1. Petroleum Product Sales: Petroperú generates the majority of its revenue from selling refined petroleum products including gasoline, diesel, jet fuel, industrial fuels, LPG, kerosene, biodiesel, and asphalt through its network of service stations, wholesale plant sales, and direct commercial contracts.
2. Crude Oil Production and Sales: The company operates oil blocks (Lot X, Lot Z-69, Lot 64, Lot 192) to produce crude oil, which is either processed in its own refineries or sold to other refiners. State-owned production has declined to approximately 104,000 barrels per day domestically.
3. Pipeline Transportation Services: The North Peruvian Pipeline (Oleoducto Norperuano) transports crude oil from production areas in the Amazon and northern regions to coastal refineries, generating tariff-based revenue for pipeline transportation services.
4. Natural Gas Operations: Petroperú operates natural gas distribution infrastructure in southern Peru (Gas Natural Sur), providing industrial natural gas connections and service to commercial customers including hospitals and industrial facilities.
5. International Crude Sourcing: The company imports crude oil from international markets including Venezuela, Ecuador, and the US Strategic Petroleum Reserve to supplement domestic production shortfalls and optimize refinery operations.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Petroperú refines crude oil at three refineries (Nueva Refinería Talara, Refinería Conchán, Refinería Iquitos) and distributes a full range of petroleum products—gasoline, diesel, aviation fuel, marine fuel, LPG, asphalt, industrial oils, and solvents—across Peru through direct wholesale supply, a network of branded service stations, and franchise partners. It also operates the Oleoducto Norperuano for crude transport, produces crude from oil blocks (Lot X, Lot Z-69, Lot 64, Lot 192), and distributes natural gas in southern Peru.

Product overview

Petroperú (Petróleos del Perú S.A.) is a state-owned oil company operating a vertically integrated energy business spanning upstream hydrocarbon production, midstream pipeline transportation, and downstream refining and distribution. The company manages four operational refineries (Nueva Refinería Talara, Refinería Conchán, Refinería Iquitos, and Conchan) with combined processing capacity exceeding 100,000 barrels per day, operating the 1,000+ km Oleoducto Norperuano pipeline, and maintaining oil blocks (Lot X, Lot Z-69, Lot 64, Lot 192). Downstream operations include a nationwide network of service stations and sales plants distributing refined petroleum products including gasoline grades (84-97 octane), diesel, aviation fuels, marine fuels, industrial oils, LPG (with 46% import dependency), natural gas, asphalt, solvents, and naphthenic acids. The company also exports sulfuric acid and high-octane gasoline to regional markets.

Differentiator

Problem solved

Functional benefit

Brands

• Petrored: Service station network brand operating under the Petroperú network.
• VAO

Products and services

• Nueva Refinería Talara (Talara Refinery) Modern refinery complex with 95,000+ barrel per day capacity located in Piura, Peru, featuring advanced processing units including Flexicoking technology for heavy crude conversion into higher-value products.
• Oleoducto Norperuano (North Peruvian Pipeline) North Peruvian Oil Pipeline spanning over 1,000 km for transporting crude oil from the Amazon region to coastal terminals, generating tariff-based pipeline transportation revenue.
• Refinería Conchán Coastal refinery located in Lurín, Lima, with specialized production of aviation fuels and petroleum products for the central region, including expanded aviation fuel operating capacity.
• Refinería Iquitos 12,000 barrel per day jungle refinery serving the Amazon region with recently expanded storage infrastructure for diesel and gasoline distribution.
• Gas Licuado de Petróleo (LPG) Liquefied petroleum gas for residential, commercial, and industrial use. Import dependency has surged to 46%, nearly double last year's 30%.
• Diésel (Diesel) Industrial and automotive diesel fuels. Diesel imports now cover 55% of domestic consumption. Wholesale price S/ 21.01 per gallon as of July 2026.
• Gasolina (Gasoline grades 84-97 SP) Multiple octane grades including Superplus 97 SP, Super 95 SP, Super 90 SP, and 84 SP for automotive use across the retail network.
• Combustibles de Aviación (Aviation Fuels) Aviation gasoline 100 LL and Turbo Jet A-1 fuel supplied to airports nationwide from Conchán Refinery with expanded operating capacity.
• Combustibles Marinos (Marine Fuels) Marine diesel No. 2 and IFO (Intermediate Fuel Oil) grades 380, 180, and 80 for maritime vessel operations at Peruvian ports.
• Asfaltos (Asphalt) Solid paving asphalt cement and liquid pavement asphalt for road construction and infrastructure projects.
• Gas Natural (Natural Gas Distribution) Natural gas distribution services for industrial and residential customers in southern Peru regions, including connections to hospitals and commercial establishments.
• Lotes Petroleros (Oil Blocks) Crude oil exploration and production from oil blocks Lot X, Lot Z-69, Lot 64, and Lot 192 in Peruvian territory. Domestic production approximately 104,000 barrels per day.
• Plantas y Terminales (Plants and Terminals) Nationwide network of sales plants, storage terminals, and distribution facilities including Pisco, Ilo, Mollendo, Cusco, and Juliaca with combined capacity around 1 million barrels.
• Estaciones de Servicio (Service Stations) Petroperú-branded and franchised fuel station network across Peru, including Petrored stations and partnerships with Grupo KIO, offering gasoline, diesel, and related products to retail consumers.
• Biodiésel B2 Biodiesel B2 blend for diesel applications supporting renewable energy integration and environmental sustainability goals.

Quantifiable outcome

• Net profit of over US$208 million for the first four months of 2026, demonstrating financial recovery trajectory
• +3 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Grupo KIOcoreChannel Partner/ Reseller/ Distributor · 4 June 2026Commercial partnership with Grupo KIO for operating Petroperú-branded service stations. Multiple new stations opened including locations in Rimac and Ica, with the alliance described as reinforcing Petroperú's commercial presence in the retail fuel market.
• FISE (Fondo de Inclusión Social Energético)coreStrategic or Co-development Partner · 26 May 2026Partnership with FISE for implementing natural gas service at Tacna Hospital, supporting the expansion of natural gas access to institutional customers in southern Peru.
• Serpost (Servicio Postal del Perú)minorGTM or Marketing Partner · 22 July 2025Agreement with Peru's national postal service to bring postal services closer to citizens nationwide through Petroperú's office locations and infrastructure.
• SelvacorcoreChannel Partner/ Reseller/ Distributor · 13 June 2025Franchise-type alliance with Selvacor for opening VAO (Value Added Operations) convenience stores at Petroperú service stations, expanding the retail format and customer service offerings.
• Trafigura GroupcoreOthersCommodity trader that supplied Petroperú with approximately 500,000 barrels of crude from the US Strategic Petroleum Reserve and one million barrels of Venezuelan oil, marking Peru's first purchase of Venezuelan crude since 2009. These arrangements were critical for securing crude supply amid global market disruptions.
• ProInversión (Peru's Private Investment Promotion Agency)coreImplementation/ SI/ Consulting PartnerGovernment agency tasked with designing, conducting, and executing Petroperú's patrimonial reorganization process under Decree of Urgency N° 010-2025. ProInversión is managing the creation of Special Purpose Vehicles, asset auctions, and attracting private capital to the state-owned company without total privatization.
• Altamesa Energy Perú S.A.C.coreOthersStrategic partner for Lot 192 oil block operations. The Comptroller General issued audit report questioning the process that classified Petroperú as corporate guarantor for Altamesa despite not being the parent company, creating economic risk transfer to the state.

Scale indicators12 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Petrobras: Brazil's state-owned integrated energy major with much larger scale. Comparable integrated petroleum operations across Latin America with similar political and governance dynamics, though Petrobras operates at substantially greater scale.
• Repsol: Spanish integrated energy company that operates refining and retail fuel stations in Peru, directly competing with Petroperú in the domestic market. A broader incumbent with diversified global operations rather than Peru-focused.

Regional players

• Pluspetrol: Argentina-based regional oil and gas operator with operations in Peru (including Lot 56 and other concessions). Comparable regional upstream and midstream operator competing for Peruvian oil and gas opportunities.

Direct peers

• Pemex: Mexico's state-owned petroleum company with integrated upstream, refining, and distribution operations. Both are Latin American state-owned oil companies facing similar financial distress, government dependence, and operational challenges including modernization cost overruns.
• YPF: Argentina's majority state-owned integrated oil company with significant refining capacity and fuel distribution. Both operate under government majority control with similar integrated upstream-refining-retail business models in Latin America.
• ENAP: Chile's state-owned petroleum company focused on refining and fuel distribution. Comparable state-owned integrated petroleum model serving a single national market in South America with refining focus.
• Ecopetrol: Colombia's state-owned integrated petroleum company with refining, pipeline, and distribution operations. Comparable vertically integrated business model and state ownership structure serving a single Latin American national market.
• PetroEcuador: Ecuador's state-owned petroleum company with integrated upstream, refining (Esmeraldas refinery), and distribution operations. Direct regional peer as another Andean state-owned integrated oil company.

Others

• Trafigura: Global commodity trader that supplied Petroperú with crude oil from the US Strategic Petroleum Reserve and Venezuelan sources. Functions as a key supplier and commercial counterparty rather than direct competitor, enabling Petroperú's crude sourcing.

Emerging players

• Maple Energy: Peru-focused oil and gas company with upstream operations and refining interests in the country. Comparable emerging player in the Peruvian petroleum sector with potential partnership or competitive overlap with Petroperú.

Market position

Strengths4 records

Weaknesses5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/petroperu_sa
• YouTubeyoutube.com/petroperu
• Facebookfacebook.com/petroperu
• LinkedInlinkedin.com/company/petroperu
• Instagraminstagram.com/petroperu_sa

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Petroperu