Paria Fuel Trading Company Limited (Paria) has taken a decision to stop providing UNIPET with fuel effective today.
In a statement, the company assured the public that the decision would not affect the fuel available to motorists and that the country will continue to have a steady secure supply of fuel.
“Paria 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 said its decision to cut UNIPET’s fuel supply is a consequence of the parties failing to renegotiate a Supply Agreement since April 2019 and UNIPET defaulting on payments owed for September and October 2019 deliveries.
Paria said it has had challenges receiving payment from UNIPET in accordance with the agreed payment schedule and this failure to pay monies when due has the potential to affect Paria’s ability to procure fuel from its suppliers.
Paria said it 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.