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The success of InterOil, whose primary focus is on Papua New Guinea (PNG) and the surrounding areas, comes on the back of its new PNG refinery and the purchase of BP’s PNG business, which has raised the company’s assets to around US$186 million.
A large chunk of the refined products from the InterOil refinery are secured by off-take contracts with Royal Dutch/Shell and its own InterOil Products Ltd unit. The agent for all crude supplied to the refinery is BP Singapore.
The refinery has a name-plate capacity of 32,500 barrels per day and processes sweet, low-sulphur crude. Aside from the refinery InterOil is also involved upstream petroleum exploration licenses, and retail and commercial distribution assets and is currently undertaking a petroleum exploration program in PNG.
