NP fuel supply well-stocked, says chairman

Sahid Hosein, chairman of state fuel distributor NP, is confident that, barring a major catastrophe, the country has a well-stocked fuel supply.

“I’ve said on many occasions before, no responsible government or entity is going to be unmindful of the need to have a stored supply because that’s what the country operates on,” Hosein told Newsday in a brief telephone call yesterday.

On Monday, Opposition Leader Kamla Persad-Bissessar claimed the country was in a state of economic emergency and predicted a fuel shortage, as well as a foreign exchange crunch, directly related to the closure of Petrotrin’s Pointe-a-Pierre refinery.

“We are being given the impression that things are happening by vaps and the sky is falling down. That’s certainly not so at NP,” Hosein said.

The country runs on fuel, he said, and if there isn’t a regular supply, the country will shut down.

When the refinery shut down, for example, the first consideration was how the country would get gas. “Any rational, sensible organisation would use that approach.”

After the closure of Petrotrin, the government created a new entity, Paria Fuel Trading Co Ltd, to import fuel to TT.

NP and independent distributor, Unipet, get their fuel from Paria. Paria has a reserve of 20 days and has previously assured that it has confirmed deliveries at least until the end of the year. NP also gets fuel delivered daily from Paria so its supply is maintained, Hosein added.

“NP is also in constant contact with its line ministry, the Ministry of Energy, so the last concern I would have, unless there is a major catastrophe (is a fuel shortage). I’m not worried about our supply.”