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TT has no plans to open up the domestic fuel market to private operators -Khan

Paria Fuel Trading Company is the only entity authorised to import fuel to the domestic market.

By Julien Neaves/TT Newsday

Petroleumworld 03 02 2020

ENERGY Minister Franklin Khan said there are no plans for the opening up of the fuel import market.

He was responding to a question in House Friday from Pointe-a-Pierre MP David Lee on whether the ministry had given consideration to issuing an importation licence to private operators to import fuel.

Khan replied that import and export licences for transportation fuels were issued by the trade licence unit of the Trade Ministry and operated under the authority of the Import Export Regulations of 1941.

"At present Paria Fuel Trading Company is the only entity authorised to import fuel to the domestic market. At present there are no plans to open up the market to private operators."

Lee asked if the company was sold by the Government in coming months whether there would be consideration then to open up the market for the importation of fuel by private investors.

Khan replied: "The issue of Paria Trading and its future is intrinsically linked with the current negotiations between Patriotic Energies and the Government. I can give this House the assurance that at no point in time would the country be out of fuel and for whatever reasons when the refinery restarts it will supply the domestic market. Until then Paria will be allowed to trade in importing fuel as the sole trader."

Story by Julien Neaves from TT Newsday 02 29 2019


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