Kumul Petroleum Holdings (KPHL) has organised more shipments of fuel to PNG in an effort to ease ongoing shortages.
KPHL first facilitated a key fuel drop back in March, delivering 230,000 barrels (bbls) of diesel and 37,000 bbls of Jet A1 fuel at Puma Energy’s Napa Napa oil refinery.
As a follow up to this initiative, KPHL is stepping in for the second time to bring fuel into the country, with two shipments currently organised.
“We are aware that current fuel importers are unable to meet the demand for fuel, particularly the Jet A1 used by the aviation industry, and once again we have stepped in to address this shortage,” KPHL managing director Wapu Sonk said.
“The first of approximately 38 million litres of diesel and eight million litres Jet A1 has been purchased from Puma in Singapore.”
Sonk said the second shipment of eight million litres of Jet A1 has been purchased from ExxonMobil and is expected to arrive in PNG at the beginning of June.
“The total import should be enough to cover market demand for at least two months,” he said.
“We are aware that until the country’s fuel supply chain arrangements stabilise, KPHL will be actively involved in the import and marketing of fuel for as long as it takes to ensure that there is a reliable and constant supply to the country to ensure continuity of fuel supply to essential businesses, industry and the public.”
KPHL said it is confident the emerging fuel shortage will eventually ease and the market will return to normal over time.
“We have reached agreement with Puma to acquire fuel from them and for them to buy and use their infrastructure to distribute to the country for the near term,” Sonk said.
“This arrangement will ensure fuel and energy security for the country, especially with regard to Jet A1, for the foreseeable future.”
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