International credit rating agency Moody’s has changed its outlook on the Government of Papua New Guinea’s B2 rating from ‘stable’ to ‘negative’. What’s behind the move and what does it mean?
Moody’s downgrades Papua New Guinea’s B2 credit rating to ‘negative’
Welcome,
21 Apr 2021 by Leave a Comment
Papua New Guinea Government demands make Pasca A gas project ‘unfinanceable’, says Twinza Oil
Welcome,
20 Apr 2021 by 1 Comment
The anticipated signing of a gas agreement for Pasca A, Papua New Guinea’s first undersea gas project, has stalled at the eleventh hour. Developer Twinza Oil says it will stand down its project team due to a last-minute State request it claims would render the project ‘unfinanceable’.
In brief: PNG Tourism Promotion Authority reveals exit survey numbers and other business stories
Welcome,
19 Apr 2021 by Leave a Comment
Papua New Guinea’s Tourism Promotion Authority reveals bleak outcome for 2020, Kumul Petroleum Holdings gets three petroleum retention licenses and new equity holders for PNG LNG. The business news in brief.
In brief: Palm oil producers oppose fertiliser tax and other business stories
Welcome,
14 Apr 2021 by Leave a Comment
Palm oil sector issues warning on fertiliser tax, the Ihu Special Economic Zone is launched, and SME loans total K20 million. Your midweek news in brief.
In brief: COVID-19 second wave will impact Papua New Guinea’s recovery and other business stories
Welcome,
12 Apr 2021 by Leave a Comment
BSP CEO says second COVID wave will impact PNG’s economic recovery, disappointing formal employment figures and Facebook acts on vaccine misinformation. Your business news in brief.
Barrick Gold and Papua New Guinea Government strike new deal over Porgera
Welcome,
12 Apr 2021 by 2 Comments
The Porgera gold mine in Enga Prince looks set to reopen later this year after the Papua New Guinea Government and mine operator Barrick Gold reached a ‘binding framework agreement’ to share future benefits from the mine and boost local ownership.
People moves: Ok Tedi Mining Ltd
Welcome,
7 Apr 2021 by Leave a Comment
Ok Tedi Mining Ltd (OTML) announces changes to its management team.
In brief: Prime Minister says deal for Porgera’s reopening imminent and other business stories
Welcome,
7 Apr 2021 by Leave a Comment
Prime Minister Marape says government is ‘poised to sign’ a deal to reopen the Porgera mine, World Bank to help PNG Power and OK Tedi Mining resumes operations.
Oil Search’s MD talks about the next wave of gas projects in Papua New Guinea
Welcome,
6 Apr 2021 by Leave a Comment
Oil Search is a key partner in the next wave of gas projects in Papua New Guinea but has faced a tough year. Business Advantage PNG speaks with Managing Director Dr Keiran Wulff on the company’s future in PNG and the rich potential of its gas reserves.
In brief: Third mobile carrier getting ready to roll by year-end and other business stories
Welcome,
31 Mar 2021 by Leave a Comment
Communications Minister confident in a new telco by year-end, the ICCC initiates review of Kina’s takeover of Westpac, and Ok Tedi Mining pledges K10 million in COVID-19 relief. Your business news in brief.
Recent readers’ comments