Prime Minister, James Marape has assured Papua New Guineans that the Government is proactively implementing comprehensive measures to safeguard the country’s fuel security and shield citizens from the impact of rising global fuel prices, particularly in light of escalating tensions in the Middle East.
Prime Minister Marape said the Government is working on standby fuel supply arrangements to ensure continuity of supply across the country, as global energy markets face increasing volatility.
Related news: https://www.postcourier.com.pg/pm-marape-assures-nation-on-fuel-security-measures-amid-global-uncertainty/
“We are putting in place standby facilities to guarantee fuel security for our nation going forward,” Prime Minister Marape said.
“In light of what is happening globally, especially in the Middle East, we are not taking any chances when it comes to ensuring that our country has sufficient fuel reserves.”
He said global developments, including risks to major fuel supply routes such as the Strait of Hormuz, have reinforced the need for Papua New Guinea to take early and decisive action to secure its energy needs.
The Prime Minister confirmed that relevant authorities have been directed to explore relief measures for citizens should international fuel prices increase.
“I have instructed our economic and energy teams to look at how we can provide relief to our people if fuel prices rise globally,” he said. “Our goal is to ensure that the impact of global fuel price increases is not heavily felt here at home.”
Prime Minister Marape emphasized that the Government aims to keep fuel prices stable and within manageable levels for households and businesses.
“We want to maintain fuel prices below the rate of inflation and ensure they remain at a realistic and affordable level for our people,” he said.
“We will do everything within our means to cushion the shock that may arise from price increases elsewhere in the world.”
He acknowledged the critical role of key partners in strengthening the country’s fuel preparedness, including State-owned enterprise Ok Tedi Mining Limited and its energy arm, which have taken proactive steps to secure supply.
“I thank Ok Tedi Mining Limited and Ok Tedi Energy for mobilizing sufficient resources to stock fuel, including aviation fuel for our aeroplanes and other essential petroleum products,” Prime Minister Marape said.
Ok Tedi has moved early to secure additional aviation fuel shipments and, together with existing stocks and fuel already in transit, is helping to ensure continuity of Jet A1 supply for the aviation sector in the near term.
The company has also confirmed it holds sufficient diesel reserves for its operations and has indicated its willingness to assist in coordinating supply should additional diesel be required elsewhere in the country.
“This is a strong example of how responsible national companies can work alongside Government to support energy security and economic stability during uncertain times,” the Prime Minister said.
The Prime Minister also confirmed that the Government is working closely with major fuel suppliers to maintain supply and manage costs.
“We are engaging with Puma Energy and ExxonMobil to ensure continued importation of fuel into the country,” he said.
“At the same time, we are working with them to contain inflationary pressures and examine targeted subsidy options to bridge any price gaps.”
Prime Minister Marape reiterated that the Government remains vigilant and prepared to act decisively to protect the economy and the welfare of Papua New Guineans.
“Our focus is on preparedness, stability, and protecting our people,” he said.
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“We will continue to monitor global developments closely and take all necessary steps to ensure that Papua New Guinea remains resilient in the face of external shocks.”