Great news for fuel consumers, PUMA ENERGY PNG should resume full supply of fuel by this afternoon.
PUMA ENERGY PNG Chairman and Managing Director Mr. Hulala Tokome confirmed with PNG HAUSBUNG that the fuel rationing will stop and all sites should be back to normal at least by 4pm this afternoon.
“We have received FX thanks to the Bank of PNG and the Deputy Prime Minister intervening,” said Mr. Tokome.
Earlier this week, Puma Energy announced that it was forced to commence fuel rationing to manage declining fuel stocks to protect fuel security in the country, after the fuel distributor did not receive in time the required Foreign Currency (FX) to continue normal operations.
Puma Energy PNG needs roughly USD$50 million on a monthly basis to import fuel and to cater for the company’s unpaid fuel bills that are well in excess of USD$100 million.
Nevertheless, the recent release of FX should enable the normal supply of fuel nationwide for the time being until a better solution is found to end this cycle of fuel rationing experienced lately in the country.