Mounting Losses Challenge Peru’s State Oil Firm

INSUBCONTINENT EXCLUSIVE:
million in 2023.Talking to Sputnik, he said terrible management for many years is why the company is failing
By September 2023, its losses reached $530 million.This is much worse than the $60 million loss from before
The company asked the government for $3.2 billion.They need this money to keep going and to make sure Peru has enough fuel
This stops fuel shortages
He says there are bigger problems about how the company is run.Recently, new leaders found that old bosses may have spent money the wrong
was not doing well
politics are not stable.But, he says, after fixing the money problems, working with private companies could be good