A national emergency has been declared in PNG over the country's fuel supply. What does this mean, and could petrol run out?
ABCThe Papua New Guinea government is deeply concerned about ongoing fuel supply in the country, after declaring a snap 30-day national emergency on Monday. At the heart of this issue is a protracted disagreement between Puma Energy and PNG's central bank, Bank of Papua New Guinea over the company's need to exchange foreign currencies. Meanwhile, Bank South Pacific wrote to Puma Energy in June indicating that it would close its operating accounts in September — effectively meaning the company couldn't operate its business in PNG. "The reasons for BSP's decision are known to the Bank of Papua New Guinea and the Financial Analysis and Supervision Unit and have been communicated to members of government," BSP said. Puma Energy Papua New Guinea's chairman Hulala Tokome said the "allegations" referred to "largely historic matters that range from administrative to operational practices".
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