Peru’s state oil company, Petroperú, has created a new subsidiary, “Petroperú Invest,” to manage and safeguard up to $2 billion in private financing. The move comes as Petroperú seeks funding to bolster its operations, specifically to purchase crude oil. An initial tranche of $500 million is intended to provide immediate financial relief to the company. This new entity will serve as a holding company for the funds, allowing Petroperú to access private investment without directly utilizing its existing assets as collateral. The creation of Petroperú Invest is directly linked to ongoing efforts to secure a larger $2 billion loan. The company hopes the subsidiary will streamline the financial process and reassure potential investors. This structure aims to provide greater financial flexibility for the struggling oil company.