Govt looking to diversify country’s fuel sources

THE Government wants to diversify the country’s fuel sources, with a petroleum company in China interested in downstream, midstream and upstream processing in the oil and gas sector, says Prime Minister James Marape.
“Puma Energy indicated that they do not want to move out of the country, and that what is affecting them is a foreign exchange and banking issue,” Marape said.
“We told them that they can continue to do business in PNG, however, we will look for alternative sources of fuel.”
He has just returned from a two-day trip to talk to Puma Energy officials and other potential suppliers.
“We cannot continue to depend on one source of fuel for too long, as we have been doing with Puma Energy.”
He revealed plans to collaborate with national entities such as Kumul Petroleum Holdings Ltd (KPHL) and the Mineral Resources Development Company (MRDC) to secure a stable fuel supply for the nation.
Marape noted the interest from other overseas companies in entering the PNG fuel market.
“The Government remains committed to safeguarding the nation’s energy future through strategic diversification and international cooperation, ensuring a reliable and sustainable fuel supply for our people.”