Petroperu Board Resigns as Liquidity Crunch Continues
- Members says it is not ‘feasible’ to continue in their roles
- Petroperu board pressed government on bailout or bankruptcy
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The board of ailing state-owned company Petroleos del Peru submitted its resignation on Tuesday.
“As several days have passed without the government making a statement, the directors appointed by the general shareholders meeting, unanimously, have presented our resignation,” the members said in a statement. “We consider that we have fulfilled the assigned responsibility, and under current conditions, it is not feasible to continue with the mandate received.”