PNG Puma

Treasurer confirms US100 million per month to be released

“First is to assess the specific issues of whether PUMA has breached our country’s banking and taxation requirements. 

Ling-Stuckey said, “We are checking the facts in our discussions with PUMA and Government agencies.”

The treasurer also highlighted the need to address failings in the fuel market, including the appropriateness of some long-term contracts going back to the InterOil days adding that the Prime Minister has announced actions underway on this. 

Fuel crisis looming

A staff member told LOOP News that they were briefed last week that the company had made a decision to stop supplying petrol over the weekend.

LOOP News tried unsuccessfully to get confirmation from PNG Puma management today.

However a statement on this is expected today ( Monday}.

It is understood Puma has been negotiating with the government over K4 billion in taxes it has been asked to pay for crude oil it imports into the country.