Americas News
Trinidad's Paria Fuel Strikes Bunker Supply Deal With Petrojam
Trinidad and Tobago's Paria Fuel Trading has agreed to buy bunker fuel from Jamaican refiner Petrojam.
The deal, for 540,000 bl of VLSFO, is to bunker ships calling at Trinidad and Tobago. The deal is valued at about $50.2 million, Paria said in a press release on Sunday.
Trinidad and Tobago is an importer of bunker fuel and the deal between Paria and Petrojam takes place against the background of the two island states' bilateral trading relationship.
"We were importing marine fuel before, but buying it from international suppliers," Jamaica's energy minister, Daryl Vaz, was quoted as saying by local news provider Newsday.
The deal has enabled Trinidad & Tobago to source marine fuel at a competitive price, the minister added.
The deal between Paria and the Jamaican refiner runs for an initial six months, with the first 50,000 bl shipment arriving on February 1.
"Confidential negotiations are ongoing with Petrojam, and Paria will continue to seek opportunities for not only its own continued profitability, but for the benefit of the citizens of Trinidad and Tobago, and the region," Paria said in its statement.
