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On August 3, 2017, Netoil Pacific Trading Limited signed a new Memorandum of Understanding with the Government of Vanuatu. It is extended for two years.

Gov’t eyes Pacific Oil and Fuel Hub Terminal Project

Vanuatu Daily Post – Saturday, April 2, 2016 – By Jane Joshua

 

The Council of Ministers (COM) in its 7th Ordinary Meeting on Wednesday, March 30, 2016 has made a decision on the Pacific Oil and Fuel Hub Terminal Project.

 

Decision no.40 which was addressed to Minister of Climate Change, Ham Lini and Minister of Lands, Ralph Regenvanu on this subject conveyed the following:

 

Firstly, it acknowledged that the Netoil company’s investment in Vanuatu has the approval of the Vanuatu Investment Promotion Authority and the Vanuatu Financial Services Commission.

 

The COM has requested for a proper and detailed feasibility study with financial projection and consultation with the Regional Council of Regional Organisations in the Pacific (CROP) agencies, in particular the Secretariat of the Pacific Community which monitors petroleum activities in the Pacific.

Secondly, it requested that Netoil submit a final proper and detailed feasibility study to the Government so the government can make a decision.

 

And finally, the COM instructed all six provinces through out the country to come up with their respective zoning plans, with the help of the Ministry of Internal Affairs.

 

More details on this project will be published when available.

 

Source: http://dailypost.vu/news/gov-t-eyes-pacific-oil-and-fuel-hub-terminal-project/article_443d3549-893b-59b5-8a1c-75514af38290.html