LIMA, Jan 7 (Reuters) - Peru is considering seeking private companies to invest in state-owned oil company Petroperu (PETROBC1.LM) , opens new tab, including in its $5.6 billion Talara refinery, the head of the government's investment promotion agency said in an interview on Wednesday.

Luis Del Carpio, head of Proinversion, said cash-strapped Petroperu would also seek private capital for a 1,100-kilometer (684 mi) oil pipeline in the north of the country known as the Norperuano pipeline, which is currently inactive.

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The government has repeatedly provided financing for Petroperu, reaching about $5.3 billion between 2022 and 2024, and just before the New Year approved an asset reorganization.

Del Carpio said that any increase in private ownership of Petroperu would not amount to privatization.

"It ... involves identifying a private investor to take over the management of the refinery, for which they will have to inject capital," Del Carpio said.

The strained financial situation for Petroperu, one of the largest oil companies in the country, is partly due to debt from the Talara refinery overhaul, which cost double the initial estimate and led the company to lose its investment grade rating in 2022.

Petroperu also operates or holds concessions for six crude oil blocks with limited production, and has a fuel distribution and marketing network.

Del Carpio said a key goal is to make payments to creditors, which include suppliers of crude oil and bondholders in the international market. A meeting with bondholders is expected to take place in the coming weeks, he noted.

https://www.reuters.com/business/energy/peru-weighs-bringing-private-investors-cash-strapped-petroperu-2026-01-07/