en.Wedoany.com Reported - Petroperú, Peru's state-owned oil company, posted a net profit of $121 million in the first half of 2026, reversing a loss of $278 million recorded in the same period of 2025. The company attributed this improvement to measures including cost control, enhanced financial discipline, and improved operational performance. Operating profit for the first half reached $337 million, EBITDA stood at $453 million, and cash flow from operating activities reached approximately $410 million before interest and taxes.
The profit improvement was driven by three key factors: a wider spread between international crude oil and refined product prices, yielding higher margins; reduced operating, selling, and general expenses; and an increased contribution from the X and Z-69 oil blocks to performance and EBITDA.
As of the end of June, the company's working capital deficit stood at $1.427 billion, down by $869 million from $2.296 billion in December 2025. Although challenges related to liquidity and working capital financing persist, progress has been made in financial restructuring.
Petroperú will continue implementing efficiency enhancement, cost-saving, and proactive liquidity management measures, prioritizing payments related to crude oil and refined product supply, operational continuity, and timely supply to the domestic market.
