Prime Minister Hon. James Marape recently announced the Government’s determination to diversify Papua New Guinea’s fuel sources. This announcement came upon his return from a two-day visit to Singapore, where discussions were held with Puma Energies, the nation’s primary fuel supplier, and various other potential suppliers.
The Prime Minister announced that PetroChina, one of the largest petroleum companies in China, has shown has shown interest in coming to PNG for downstream, midstream and upstream in the oil and gas sector.
“We cannot continue to depend on one source of fuel for too long, as we have been doing with Puma Energies,” Prime Minister Marape stated. Emphasising the need for diversification, he recounted the “frank and open conversations” with Puma Energies in Singapore, which were chaired by Petroleum Minister Hon. Jimmy Maladina.
“Puma 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,” Prime Minister Marape said.
“We told them that they can continue to do business in PNG, however, we will look for alternative sources of fuel.”
Highlighting the Government’s proactive measures, Prime Minister Marape revealed plans to collaborate with national entities such as Kumul Petroleum Holdings Ltd and the Mineral Resources Development Company (MRDC). These partnerships aim to secure a stable fuel supply for the nation.
Prime Minister Marape noted the interest from other overseas companies in entering the PNG fuel market. This interest marks a significant step towards broadening the nation’s energy portfolio and ensuring long-term fuel security.
Prime Minister Marape emphasised the Government’s unwavering focus on fuel security as a cornerstone of national interest. “I want to assure people in the country that your government is not resting, but looking at other available options, to ensure that there is no fuel insecurity in our country,” he assured.
“The Government of Papua New Guinea 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.”
