Contraloría Finds Losses at Petroperú and the Road Agency

Peru's Contraloría, the state audit office, has uncovered financial losses at Petroperú, the national oil company, and Provías Nacional, the agency responsible for building and maintaining Peru's roads. The Contraloría released two separate compliance audits revealing the economic harm.

At Petroperú, the audit found a loss of US$396,135. This loss stemmed from a demurrage penalty that the state oil company had to pay to a Chinese supplier. The delay in issuing a letter of credit led to the vessel waiting at the port, resulting in these financial losses. The cargo involved 361,798.79 barrels of Oriente crude destined for the Talara refinery, Petroperú's largest asset.

Meanwhile, Provías Nacional experienced economic harm totaling 4,849,637.77 soles. This harm was attributed to a failure to apply penalties and approving overvalued assessments in a road rehabilitation project spanning the Ciudad Constitución to Puerto Súngaro section of the Puerto Bermúdez to San Alejandro highway. The audit covered events between 8 November 2023 and 5 December 2024.

Both audits serve as compliance reports, ensuring public entities adhere to rules and procedures. The Contraloría is an independent body tasked with overseeing the financial management of public projects in Peru. While the monetary losses might seem significant, they represent a fraction of the overall budgets of these agencies. These audits highlight the importance of diligence in public procurement and management, aiming to prevent future mismanagement of public funds.