Papua New Guinea’s Prime Minister, James Marape, has insisted that the country’s proposed LNG projects, Papua LNG and P’nyang, will be dealt with as separate projects.
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A new organic law defining how Papua New Guinea manages resource projects may soon be tabled in Parliament. It appears the main aim will be to change ownership and control of future projects, but will it spook international investors?
LNG prices have surged clawing back earlier losses, while the oil price is steady and cocoa is also strong: Business Advantage PNG’s monthly overview of commodity and financial markets.
When it comes to Papua New Guinea’s resources sector, the government wants a better share of the rewards, but the industry is warning that the country is becoming a less attractive destination for investment.
Two new reports have outlined the revenue challenges being faced by Papua New Guinea’s government in the face of the COVID-19 pandemic.
Cashed-up Kingston Resources is expecting to complete a pre-feasibility study later this year for the Misima gold project in Papua New Guinea’s Milne Bay Province. With the gold price riding high, investors believe the project is a promising one.
Papua New Guinea has a ‘tax mobilisation challenge’ if it is to deal with the financial challenges resulting from the COVID-19 crisis, according to a new Asian Development Bank report.
Foreign direct investment into Papua New Guinea dropped in the first quarter of 2020, according to Investment Promotion Authority figures. Meanwhile, business expresses concern over proposed changes to PNG’s investment laws.
The silver price takes off and LNG also surges. Coffee is also up sharply and oil is steady. Business Advantage PNG’s monthly overview of commodity and financial markets.
The number of Papua New Guinea’s COVID-19 cases has increased to over 60. In response, the country’s COVID-19 Pandemic Response Controller, David Manning, has issued new control measures in an effort to prevent further spread.