The National Petroleum Company (ENAP) has announced an adjustment plan involving the dismissal of around 500 workers from 2019.
According to reports La Tercera, the measure responds to the company recorded up to September this year losses of about 152 million dollars.
Due to this, ENAP decided to reduce the total value of the company by 13%, which has already been approved by the board.
The state-run company explained that it has informed workers that "they saw their results worsen due to the sharp drop in international refining margins, as well as a considerable increase in oil prices that has led to higher production costs." that the level of indebtedness has increased, which is greater than the generation of resources.
ENAP says that "we are aware that these measures can be painful, but we believe that we have an obligation to put the future of the company ahead, doing what is necessary to be more productive, contributing to the country and fulfilling our obligations to the company. region". all Chileans, "according to La Tercera's slogan.