Paria Fuel Trading Company Limited (Paria) from today, Tuesday December 3, 2019, will no longer supply UNIPET with fuel.
In a press release, Paria said this decision will not affect the fuel available to motorists and that the country will continue to have a steady secure supply of fuel. The Company said it will make available to the National Petroleum Marketing Company (NP) the difference in the quantity of fuel required to meet the country’s full needs. NP will distribute the full supply so that the motoring public should see no disruption.
Paria’s decision to cut UNIPET’s fuel supply is a consequence of the parties failure to renegotiate a Supply Agreement since April 2019, and UNIPET defaulting on payments owed for September and October 2019 deliveries. Paria has had challenges receiving payment from UNIPET in accordance with the agreed payment schedule; this failure to pay monies when due has the potential to affect Paria’s ability to procure fuel from its suppliers.
Paria is willing to continue discussions with UNIPET to achieve a solution that is both safe and
in the best interest of both companies and which minimizes any disruption of supply to the local market.