Producer
Petróleos del Perú (Petroperú)
Peruvian state oil company; primary supplier of diesel and marine fuel to Peru's fishing fleet (the world's largest anchoveta fleet). Talara refinery (northern Peru) is primary diesel production site for the fishing industry. Peruvian fishing vessels are among the world's largest consumers of marine diesel per fleet unit due to concentrated offshore operations.
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Inputs supplied
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Goods downstream
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Facilities
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Stories
What they make
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What else they do
Business segments
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Diesel & Marine Fuel (Fishing Industry)
45%Retail Fuel (Primax stations)
25%Mining & Industrial Fuel
20%Refining & Processing
10%
Intelligence
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Origin2023
Petroperú was created on July 24, 1969 when General Juan Velasco Alvarado's military government nationalized the International Petroleum Company (IPC) — a Jersey Standard (later ExxonMobil) affiliate that had operated Peru's Talara oilfield since 1914. The nationalization of IPC was the defining act of the Velasco government's "Peruvian Revolution" — a left-nationalist program that also nationalized copper mining, commercial fishing (creating PESCAPERU), and other foreign-owned industries. The IPC dispute had been a running political controversy in Peru for decades over whether Peru had received fair royalties from the Talara field; the Velasco government resolved the controversy by confiscating the company outright without compensation, leading to significant US diplomatic tensions. The Talara refinery (Peru's largest) passed from Standard Oil's successor to Petroperú as part of this nationalization. Petroperú subsequently became the primary fuel supplier for both Peru's fishing industry (the world's largest anchovy fleet, which catches 30-40% of global industrial fish) and Peru's mining industry (the world's second-largest copper producer). The 1969 nationalization that created Petroperú now controls the diesel that simultaneously powers Peru's fish-to-global-aquaculture-feed supply chain and Peru's metal-to-global-manufacturing supply chain.
Petróleos del Perú S.A. ↗