Puma Energy breathes new life into refinery

PUMA Energy has invested almost US$100 million (K337 million) to revive the Napa Napa oil refinery, says country manager Jim Collings.
He told the 2019 Petroleum and Energy Summit in Port Moresby yesterday that the company took over Napa Napa from InterOil in 2014 when the refinery was on the verge of shutting down.
“To date, we have invested almost US$100million to revive the refinery,” Collings said.
“The benefit to PNG now is we have a world-class asset with a world-class safety record, a world-class up-time which has the best strategic energy supply and storage in the region, and is bringing export dollars every month as 50 per cent of the production is exported overseas.
“The potential for the refinery continues and continues for the right strategy for energy self-sufficiency strategy.
“In our LPG business, we are focusing on supporting other Government strategies such as SME (small to medium enterprises) developments.
“In just over 12 months, we created 350 new businesses.
“It’s a mum-and-dad business throughout the country in the LPG sales and marketing area.
“These business weren’t there previously.
“By the end of the year, we are looking at creating 500 new businesses.
“This is in line with our retail strategy where over 99 per cent of our retail is run by PNG citizens.”