PNG: InterOil defends fuel price increases

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Updated December 19, 2007 17:04:29

The Canadian oil company which owns Papua New Guinea's first oil refinery has defended an increase in the price of crude oil. InterOil says it has unilaterally lifted fuel prices to make up for losses in operating the refinery and because of increase in the world price of crude oil. InterOil has been accused of dictating price increases to the PNG government, ignoring consumer and pricing regulations.

Presenter: Firmin Nanol
Speakers: Bill Jasper, InterOil's Chief Operating Officer

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