Reported 29 days ago
The board of Petroperu, the state-owned oil company of Peru, has resigned due to a prolonged liquidity crisis and lack of government action on its financial future. They called for urgent decisions on either a bailout or bankruptcy, citing the company's unsustainable financial situation largely caused by overruns and delays in a major refinery project. Despite their resignation, the government has yet to indicate a clear direction for the troubled company.
Source: YAHOO