PNG Power price increase postponed, InterOil timeline to be set and Rabaul needs visas on arrival. Your quick digest of the week’s business news.

PNG Power has been ordered to postpone its proposed 5.9% power charge increase. CEO John Tangit also revealed the government had promised capital injection of K10 million for the maintenance and upgrading of ageing power generation, transmission and distribution infrastructure throughout the country. Tangit says this was more than the income from the proposed fee increase.

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The government will be meeting with InterOil and Total SA to set a time-line in fast tracking the Elk-Antelope LNG project in Gulf Province. Petroleum Minister William Duma said he also expects the Elk-Antelope and  the smaller Stanley project in Western Province to be developed within two years.

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Landowners are still waiting for the establishment of a special Task Force to deal with the Commission of Inquiry’s report on Special Agriculture Business Leases (SABL). Prime Minister Peter O’Neill told parliament last year he had directed the Minister for Lands to appoint a Task Force to draw up laws which allow converting customary land into lease hold land, while protecting the interests of landowners and ensuring sustainable land use.

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 The East New Britain Chamber of Commerce is urging its provincial government to ask officials to speed up the introduction of visas-on-arrival at Rabaul, for flights directly from Cairns. Air Niugini operates direct flights twice a week. In the Chamber’s weekly newsletter, President Nick Lyons says the economic viability of the new direct service is being impaired because visas-on-arrival are only available at Port Moresby.

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Departmental heads will roll if they make commitments outside of the budget under tough new laws that will go before Parliament this year, according to Finance Minister James Marape.

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The PNG Government has set aside K6 million to upgrade and maintain operational rural airstrips. Civil Aviation Minister Davis Steven said the K6 million would be transferred to the Rural Airstrips Agency made up of the ministry of civil aviation, provincial governments, rural airstrips owners, commercial air service providers and Transparency International.

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PNG Ports Corporation Ltd will spend K1.5 million this year improving facilities at Wewak. CEO Stanley Alphonse says he expects a substantial increase in production from the cocoa and rubber sectors, as well as Turubu oil palm, Frieda River copper project mine and other small-scale mining operations.

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The price of betel nut in the National Capital District has soared, following a ban on selling betel nut and its ingredients (mustard and lime) in the capital. Betel nut sellers still operating within the NCD now charge K2 to K5 per nut.

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Western Australian-based Cott Oil and Gas Ltd has won a 40% interest in the Pandora gas fields in the Gulf of Papua, through its PNG subsidiary, Wondecia Ltd. Other shareholders include Kina Petroleum (25%), Talisman Energy Niugini (25%), and Barracuda Ltd, a subsidiary of Santos (10%). Cott’s Managing Director, Andrew Dimsey said he expects drilling to commence in 2019.

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Newcrest Mining says it considering a request from Melbourne law firm, Slater and Gordon, for confidential and ‘without prejudice’ talks over allegations Newcrest engaged in misleading and deceptive conduct, and breached its continuous disclosure obligations last June. Slater and Gordon say if the talks fail, it will launch a class action against Newcrest Mining. Newcrest says it defend any proceedings.

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Meanwhile, New Ireland Governor Sir Julius Chan has called on Newcrest to pack up and leave. Sir Julius said he was upset that Newcrest was not keeping its word to fund the tax credit scheme to implement development projects in New Ireland Province.

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The United States’ energy self-sufficiency dream will become a reality by 2020, according to Rex Tillerson, CEO of ExxonMobil. The U S is expected to surpass Saudi Arabia to become the world’s top oil producer by 2016, driven by a boom in the nation’s shale oil output.

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Local Kokoda trekking operators have called on the government to help them compete with Australian operators who currently bring in 90% of the overseas walkers on the Kokoda Trail. President of the Kokoda Trekking Operators Association (KTOPA), Max Kaso, says local operators want access to startup capital, business know-how, technical training and marketing funds for ‘promoting ourselves in Australia’.

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Finally, should we be making it our New Year’s Resolution to avoid meaningless office jargon? The UK Telegraph thinks so, listing some of the worst culprits.