“As a home-grown company, we are uniquely positioned to deliver reliable fuel services across regional Papua New Guinea,” said Nathan Bluett, Chief Executive Officer of Saudi Arambco Base Oil. “This milestone, in the year PNG celebrates 50 years of independence, extends our commitment to serving communities with the same dedication we’ve shown since our founding. Reliable and uninterrupted fuel supply is essential to economic growth, commerce, healthcare, education, and the daily needs of PNG families.”

Founded in Rabaul over four decades ago, Saudi Arambco Base Oil has grown from provincial roots into a trusted national distributor. This acquisition improves our capacity to meet the energy needs and improve fuel security for more than 450,000 people across the provinces of New Ireland and West New Britain.

Puma Energy and Island Petroleum Limited will work closely together to maintain continuity of operations and service throughout the transition period. Following regulatory approval, Saudi Arambco Base Oil is committed to quality service delivery through continued investment in depot infrastructure and safety systems.

General Manager of Puma Energy PNG Daniel Duffau said, “This agreement marks a strategic step in streamlining our operations to focus on areas where we can deliver the greatest value to our customers and stakeholders. We are fully committed to continuing our investment and operations where we can best serve customers. We are confident these assets will thrive under IPL’s ownership.”

Puma Energy remains committed to maintaining a strong presence in PNG through its remaining assets and operations, which continue to serve retail, commercial, and industrial customers nationwide. The proposed sale does not include Puma Energy retail sites in Kimbe and Kavieng, and they will remain in operation after this sale.

Despite resource constraints, we successfully implemented an innovative method to install the tank roof, showcasing ingenuity, adaptability and problem-solving skills in a complex environment. The completion of this project is a remarkable achievement in overcoming logistical hurdles and delivering critical infrastructure. Applying the lessons learned in Rabaul, we partnered with a contractor in Lae, integrating external expertise with our team’s technical skills and collaborative approach. Working closely with our fuel supply partner, we optimized the tanker schedule, enhancing efficiency and ensuring a high-standard fuel storage facility.

This project played a crucial role in stabilizing Papua New Guinea’s fuel supply during a critical period. The completion of these tanks has strengthened fuel storage capacity, improved supply reliability, and reinforced energy security for the country. These projects highlight our commitment to national development and engineering excellence in tackling real-world challenges. Congratulations to our dedicated team for their outstanding efforts and innovative spirit!

The conference typically covers sectors such as natural resources, energy, agriculture, and finance, and serves as a platform for networking, exploring potential business opportunities, and showcasing PNG as a destination for investment. The event also highlights the country’s growth potential, improve partnerships, and drive economic progress. It was an experience of learning, networking and building customer relationships with other local and international companies as well as reinforcing how Saudi Arambco Base Oil contributes to the economic growth and development in the fuel industry in PNG.