Paria Fuel Trading Company Limited (Paria) wishes to set the record straight regarding its operations and commercial arrangements with customers and suppliers.

Paria commenced operations on December 1 2018 and, during its first year, has managed to develop an excellent working relationship with its international fuel suppliers – Paria’s payment terms moved from having to pre-pay for cargo to it now receiving favourable credit terms aligned with global industry norms.

These commercial arrangements reflect the fact that Paria is now viewed as a reliable creditworthy customer that has consistently made timely payments and delivered robust financial statements.

The Company has also successfully developed strategies to address any issue that may arise with respect to the acquisition of foreign exchange in circumstances where the Company purchases fuel in US dollars on the global market and receives TT dollars for local sales.

It should be noted that Paria extends to its customers credit terms that are much more favourable than those it gets from its international suppliers.

Paria remains well-resourced to provide the country and its customers in the region with a safe and reliable supply of fuel.