Kumul Petroleum Holdings Limited (KPHL) welcomes new directors to its board, departure from Oil Search board, and the International Finance Corporation (IFC) gets a new Regional Director.
People moves: Kumul Petroleum Holdings, Oil Search, International Finance Corporation
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25 Aug 2021 by Leave a Comment
Fortescue’s pivot towards renewable energy
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25 Aug 2021 by 1 Comment
Why is Fortescue Metals Group, which makes most of its income from iron ore sales, looking at renewable energy projects in Papua New Guinea and other parts of the world?
What is Fortescue Metals Group doing in Papua New Guinea?
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25 Aug 2021 by 2 Comments
Earlier this month, Papua New Guinea’s government announced a ‘deed of agreement’ with Australian iron ore giant, Fortescue Metals Group, to develop renewable energy projects in PNG. Business Advantage PNG learns more about its plans from Julie Shuttleworth, CEO of subsidiary Fortescue Future Industries.
Newcrest Mining posts record profit
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23 Aug 2021 by Leave a Comment
Papua New Guinea’s largest gold miner, Newcrest Mining, has lodged record profits for the 12 months ending 30 June, thanks to higher gold and copper prices and lower operating costs.
In brief: ‘historic’ green energy agreement between PNG and Fortescue Minerals and other business stories
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18 Aug 2021 by 2 Comments
Fortescue and Papua New Guinea Government sign landmark agreement to venture into green energy productions, the Bank of PNG flags two new projects and Minister apologises over Pasca A negotiations. The business news you need today.
Kina Bank presents its vision for Westpac to Papua New Guinea’s regulator
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16 Aug 2021 by 1 Comment
If Kina Bank’s acquisition of Westpac’s Pacific operation proceeds, it will be rebranded East West Commercial Bank, a stand-alone ‘Pan-Pacific’ bank to compete against its new parent. That’s according to a presentation made by Kina last week as it tries to convince Papua New Guinea’s Independent Consumer and Competition Commission of the deal’s merits.
People moves: PNG Chamber of Mines and Petroleum
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13 Aug 2021 by Leave a Comment
The PNG Chamber of Mines and Petroleum announces historic appointment and other moves.
Revised Pasca A agreement a ‘setback to investor confidence,’ says Twinza Oil
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11 Aug 2021 by 3 Comments
The progress of Twinza Oil’s US$2.4 billion (K8.42 billion) Pasca A offshore gas project in Papua New Guinea has again stalled, following a draft gas agreement from the government which the developer claims ‘bears no resemblance’ to the terms it agreed last month.
In brief: Due diligence starts on Santos/Search merger
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10 Aug 2021 by Leave a Comment
Santos and Oil Search potential merger advances, Twinza Oil wants Pandora gas fields license announced before the Pasca A agreement, and funding for Pacific fisheries. PNG business news in brief.
People moves: Oil Search, NZTE
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9 Aug 2021 by Leave a Comment
Oil Search elects a new EVP Group Finance (Acting) and New Zealand Trade and Enterprise (NZTE) welcomes a Trade Commissioner to the Pacific.
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