PORTMORESBY: Two of
The financiers are the Bank of South Pacific Limited and Westpac Bank PNG Limited.
The facility will be used for InterOil’s wholesale and retail petroleum distribution business in
The Company’s Chief Financial Officer Collin Visaggio says the transaction shows
“The arrangement is evidence of the solid relationships and strong presence InterOil has in the PNG marketplace.
“The loan facility will help ensure the continued, smooth day to day running of our distribution business”.
“It will do this by providing increased security for our working capital requirements.”
InterOil owns and operates
It produces a wide range of fuels including petrol, diesel, kerosene and aviation fuel.
The refinery also distributes a new product called InterOil Power Fuel which has been developed especially for industry.
InterOil also has more than 60 branded service stations throughout
It also has a number of important supply contracts with commercial aviation, mining transport and other companies.
InterOil supplies about two thirds of the PNG fuel market.
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