Unipet owes Paria $100m, Imbert intervenes

Act­ing En­er­gy Min­is­ter Colm Im­bert is in­ter­ven­ing in ne­go­ti­a­tions be­tween Paria Fu­el Trad­ing Com­pa­ny and Unipet aim­ing to bro­ker a speedy agree­ment be­tween both in their cur­rent im­passe.

He said Unipet cur­rent­ly owes Paria over $100 mil­lion for fu­el sup­plied with­out any writ­ten agree­ment.

Speak­ing in the Sen­ate yes­ter­day, Im­bert added, “NP has the ca­pac­i­ty to sup­ply fu­el but I in­tend to in­ter­vene and see if I can get this mat­ter re­solved in the short­est pos­si­ble time and get the par­ties back to­geth­er so we can pro­duce a prop­er agree­ment be­tween Paria and Unipet go­ing for­ward with­out any dif­fi­cul­ties.”

Im­bert was re­ply­ing to queries from UNC Sen­a­tor Wade Mark on the im­passe be­tween Paria and Unipet af­ter Paria on Tues­day dis­con­tin­ued sup­ply­ing Unipet with fu­el.

Paria has stat­ed this re­sult­ed from Paria’s fail­ure to rene­go­ti­ate a sup­ply agree­ment since April and that Unipet de­fault­ed on pay­ments owed from Sep­tem­ber and Oc­to­ber de­liv­er­ies. Unipet ac­cused Paria to be “push­ing the mar­ket to­ward a mo­nop­oly sit­u­a­tion.”

Pe­tro­le­um Deal­ers’ As­so­ci­a­tion pres­i­dent Robin Narayns­ingh who said Paria’s move was “un­fair and un­just” has called on Im­bert and Gov­ern­ment to in­ter­vene. He warned of threats to jobs re­sult­ing from the sit­u­a­tion. Yes­ter­day some mo­torists com­plained of fu­el prob­lems.

Im­bert, re­ply­ing to Mark’s con­cern about the im­pact, said, “This is an is­sue of non-pay­ment for sup­ply. It’s an is­sue of non-sig­na­to­ry of an agree­ment which has been in force for sev­er­al months.


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