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Peru's new government ousts Petroperu chairman, regulator says
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Peru's new government ousts Petroperu chairman, regulator says
Oct 17, 2025 8:59 AM

LIMA, Oct 17 (Reuters) - Peruvian President Jose Jeri's

new interim government has fired the chairman of the country's

cash-strapped state-owned energy company Petroperu

, the country's market regulator reported on

Friday.

Peru's market regulator said in a file that the decision to

fire chairman Alejandro Narvaez was made during a shareholders'

meeting on Thursday, and that Narvaez was removed from his

position effective the same day.

Current board vice president Fidel Augusto Moreno was

named as new interim chairman.

The main shareholders of the oil company are officials

from the Economy Ministry and the Energy and Mines Ministry,

whose new heads were appointed by Jeri after he took office last

week following the abrupt ouster of his predecessor Dina

Boluarte.

Narvaez assumed the chairmanship of Petroperu's board in

November. The company is currently facing a financial crisis

amid heavy debts and tight liquidity after a $6.5 billion

investment to modernize its Talara refinery - more than double

the project's original estimated cost.

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