Petróleos del Perú S.A. (Petroperú) is a Peruvian state-owned petroleum company. Its activities include transport, refinery and commercialization of fuel and other oil derivatives. It was created on July 24, 1969, using properties expropriated by Peru from local oil companies and the International Petroleum Company, a subsidiary of Esso Corporation. Those properties included the world's oldest giant oilfield, La Brea y Pariñas, first discovered in 1869 and eventually acquired by Esso.