Paria Fuel to end relationship with UNIPET

Date: 
Tuesday, December 3, 2019 - 09:15

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.

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Story by NEWS DESK