Paria Fuel Trading Company Limited has announced that it will stop supplying UNIPET with fuel, but hastens to assure the public that fuel supplies won’t be affected in anyway but this decision.
According to an official statement issued by the company today, Paria confirms that the fuel originally carded for UNIPET will instead go to NP, the National Petroleum Marketing Company.
Paria says a failure to negotiate a new Supply Agreement with UNIPET, along with the distributor’s failure to pay outstanding arrears to Paria, are the key reasons for Paria’s ending of its relationship with UNIPET.
The full text of the company’s statement, follows…
PARIA FUEL TRADING COMPANY LIMITED (PARIA) from today (Tuesday December 3, 2019) will stop providing UNIPET with fuel. The Company wishes to assure the public that this decision will 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’s 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 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.
Story by NEWS DESK