Petroperú plans to reach an average market share of 35% between 2025 and 2030

Petróleos del Perú S.A. (Petroperú) set an important goal of recovering its market share in the medium and short term. During the presentation of the 2024 management report and the company's projections and progress through 2030, Alejandro Narváez, Chairman of the Board of Directors of Petroperú, projected reaching an average market share of 35% between 2025 and 2030, based on an aggressive commercial strategy.

The head of Petroperú recalled that, at the beginning of his administration, in November 2024, the state oil company had a market share of 25%, which had risen to 29% by the end of 2024. The average market share between 2025 and 2030 is expected to be 35%.

Narváez acknowledged that 2024 represented a very difficult year for the company, with accumulated losses carried over from previous administrations. Although 2025 will be a year of pure austerity, this does not mean that there won't be a progressive improvement in all financial and commercial indicators.

For example, the recovery of market share, in which Petroperú had a presence close to 50% prior to the pandemic, is based on the sale of products to the domestic market. The projected daily sales volume is 120,000 barrels per day (bpd).

"We can achieve this because domestic demand for (petroleum) products is increasing sharply, at around 300,000 barrels per calendar day, and we must capture a significant portion of our revenue from that volume," said Alejandro Narváez Liceras, chairman of the Board of Directors of Petroperú.

But the domestic market is not the only destination for Petroperú's products, which are primarily processed at the New Talara Refinery. Markets such as Ecuador, Brazil, and Bolivia already demand Petroperú's high-quality products.

Between January and July 2025 alone, Petroperú exported IFO 180 to the Brazilian market, and so far this year, agreements have also been reached to export diesel, Turbo A1, and asphalt to regional countries such as Brazil, Ecuador, and Bolivia.

He also noted that the Talara, Conchán, and Iquitos Refineries continue to produce the highest-quality fuels, reaffirming the current administration's commitment to operational efficiency and financial sustainability, guaranteeing the fuel supply throughout the country.

Sale of assets

Among the main initiatives within the framework of the Restructuring Plan mandated by the Executive Branch, which seek to generate revenue for Petroperú, is the sale of the company's assets.

For this reason, Alejandro Narváez Liceras, Chairman of the Board of Directors of Petroperú, announced that this week an agreement will be signed with the Private Investment Promotion Agency (Proinversión) to handle the sale of more than 30 assets owned by Petroperú.

Finally, the Chairman of the Board reported on the progress made within the framework of Emergency Decree 013-2024 to improve the company's operational efficiency. This progress is supported by four vitally important fronts for its financial recovery: the stabilization and optimization of the new Talara Refinery, efficient hydrocarbon imports, increased sales, and the deepening of the company's vertical integration.

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