Peru · GOVERNANCE
Key Facts
- —Petroperú loss US$396,135 identified in Compliance Audit Report 011-2026-2-0084-AC
- —Cause lack of diligence in issuing a letter of credit for crude purchase from Ecuador
- —Demurrage penalties paid to Chinese supplier for vessel waiting at Bayóvar terminal
- —Provías loss 4,849,637.77 soles in economic harm from penalties not applied and overvaluations
- —Audit period Provías covers 11 December 2015 to 1 July 2021
Peru’s state audit office also found millions in losses at the national road agency, highlighting oversight gaps in public projects.
Peru’s Contraloría, the state audit office, has identified economic losses at Petroperú and the national road agency. The findings come from two separate compliance audits released recently.
Contraloría Reports Petroperú Loss
The Contraloría General de la República found an economic loss of US$396,135 at Petroperú, the state oil company. The finding is detailed in Compliance Audit Report 011-2026-2-0084-AC.
Auditors blame a lack of diligence and coordination in issuing a letter of credit. The cargo was 361,798.79 barrels of Oriente crude from Ecuador.
The crude was destined for the Talara refinery, Petroperú’s largest asset.
Letter of Credit Delays Cause Demurrage
The loss is demurrage penalties paid to the Chinese supplier. The vessel had to wait to unload at the Bayóvar terminal.
Demurrage is the penalty a charterer pays when a ship is held at port longer than the contract allows. A letter of credit is a bank guarantee that a seller will be paid once shipping documents are presented.
Issuing it late can hold up a cargo, as happened here. The audit covers events between 8 November 2023 and 5 December 2024.
Provías Nacional Faces Economic Harm
In a separate report, 010-2026-2-0661-AC, the Contraloría found economic harm of 4,849,637.77 soles at Provías Nacional, the national road agency. That harm came from failure to apply penalties and from approving valuations of works not executed, advance valuations and overvaluations.
The project is a road rehabilitation. It covers the Ciudad Constitución to Puerto Súngaro section of the Puerto Bermúdez to San Alejandro highway.
The audit covers actions between 11 December 2015 and 1 July 2021.
Understanding the Audits
Both audits are compliance reports, meaning they check if public entities followed rules and procedures. The Contraloría is Peru’s independent state audit office.
Petroperú is Peru’s state oil company, and its Talara refinery on the northern coast is its largest asset. Meanwhile, Provías Nacional builds and maintains Peru’s national roads.
Impact on Public Projects
These losses represent money that could have been used for other public purposes. For example, the road agency’s losses could have funded road maintenance elsewhere.
However, the findings do not name any individuals or imply charges. The audits simply quantify the economic harm.
Next Steps for Oversight
The Contraloría’s reports are typically sent to relevant authorities for follow-up. Still, no sanctions or charges have been announced.
In addition, these audits highlight the need for better diligence in public procurement and project management.
Broader Context of Audits
Peru’s Contraloría regularly conducts such audits to ensure accountability. Therefore, these findings are part of ongoing oversight efforts.
While the amounts are significant, they are relatively small compared to the overall budgets of these agencies.
What This Means for Citizens
For citizens, these losses mean less money for essential services and infrastructure. The Contraloría’s work helps identify where public funds are mismanaged.
As a result, such audits can lead to improved practices and prevent future losses.
Contraloría’s Role in Peru
The Contraloría General de la República is a key institution for transparency in Peru. It ensures that public resources are used efficiently and legally.
In short, these reports are a reminder of the importance of independent oversight in government.
Frequently Asked Questions
What is the Contraloría?
The Contraloría General de la República is Peru’s state audit office. It checks how public entities manage funds and comply with rules.
What was the loss at Petroperú?
The Contraloría found an economic loss of US$396,135 at Petroperú. This was due to demurrage penalties from a delayed letter of credit for crude oil purchase.
What is demurrage?
Demurrage is a penalty paid when a ship is held at port longer than allowed. In this case, Petroperú paid it to the Chinese supplier because the vessel waited to unload.
What did the road agency lose?
Provías Nacional suffered economic harm of 4,849,637.77 soles. This came from failure to apply penalties and approving overvaluations in a highway project.
Connected Coverage
Sources: Contraloría General de la República; Gestión; La República.
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