INSUBCONTINENT EXCLUSIVE:
financial losses and regain stability
The decision reflects a shift in strategy for the state-owned enterprise.The chairman outlined plans to achieve profits between 200 million
and 250 million US dollars next year
least 100 million dollars
Investment in 2025 Amid Recovery Plans
(Photo Internet reproduction)This massive project led to the company losing its investment grade rating in 2022
from bondholders and creditors about further state financing
He assured them that he would make every effort to avoid requesting additional government funds.The chairman emphasized the importance of
directing such resources toward social programs instead
could lead to crude oil purchases for the Talara refinery
The company now produces crude oil in four fields that returned to state control in 2023.This development marks a significant shift in
investors while maintaining government control
