Our old refinery

[Gator]

Papua New Guinea's minister for petroleum and energy says the government doesn't anticipate major disruption to the supply of petrol.

Nixon Duban's comment comes as PNG's major petrol supplier, Puma Energy, warned that the country is set to run out of petrol in the coming weeks as the company winds down its supply.

Local media is reporting that the company made a decision to stop supplying petrol over the weekend, amid negotiations with the government over 1.4 billion US dollars in taxes it has been asked to pay for crude oil it imports into PNG.

Mr Duban is determined that the country's petrol supply remains in good stead.

"I will talk to Puma, and I will also try and talk to the minister for treasury and the customs commissioner general to try to allow some exemptions if there is a need. And I think it is about time that we put this issue to rest and allow the flow of petrol for thr country to remain stable."

Puma Energy bought InterOil's oil refinery and petroleum products distribution business in PNG last year for $US526 million.

Puma Energy operates the Napa Napa oil refinery near Port Moresby

[Stavros]

PNG Government made a decision to bring in SM's for LNG development and IOC sold the refinery to a relative Big Boy - Puma Energy.

Mr. Duban has quickly learned that any nonsense will not be tolerated by these majors.

From Puma Energy Website:

Puma Energy is a privately owned company, providing us with the flexibility to react quickly to customer’s needs. We have a special relationship with our two strategic partners and main shareholders - Trafigura Group and Sonangol Holdings. Although we operate at arms-length from both, we benefit from their management expertise and market knowledge.

TRAFIGURA GROUP

Founded in 1993, the Trafigura Group has become one of the world’s leading independent commodity traders, specialising in the oil, minerals and metals markets. The company has achieved substantial growth in recent years, growing revenue to USD127.6 billion in 2014. Primary trading activities are the supply and transport of oil and petroleum products and metals and minerals. The company is Puma Energy’s preferred supplier of petroleum products for our downstream business, providing us with preferential access to the international petroleum market.

The Trafigura Group is owned by 600 of its 5,300 employees who work in 36 countries around the world. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.

SONONGAL HOLDINGS

Established in 1976, Sonangol U.E.E. is a State-owned company whose mission is the management of hydrocarbon resource exploration and production in Angola. As a longstanding business partner, Sonangol provides us with crucial industrial expertise and access to market knowledge in sub-Saharan Africa.