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New negotiations, new laws: Kumul Petroleum’s MD says oil and gas sector is looking ‘much stronger’

Wapu Sonk, Managing Director of Kumul Petroleum, says that Papua New Guinea’s oil and gas sector is looking ‘much stronger’ with the Papua LNG project set to have its final investment decision in 2023. But, he told the 2021 Business Advantage PNG Investment Conference, that proposed changes to the country’s oil and gas law have been delayed.
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Regulator rejects Kina Bank’s acquisition of Westpac’s Papua New Guinea assets

It is back to the drawing board for Kina Bank and Westpac, as Papua New Guinea's Independent Consumer and Competition Commission has issued a 'final determination' declining authorisation of Kina's proposed acquisition of Westpac Papua New Guinea.
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Papua New Guinea Investment Conference gets off to a flying start

The three day Business Advantage Papua New Guinea Investment Conference got off to a flying start on Tuesday 7 September, with no less than two prime ministers and a host of other expert speakers addressing the digital forum. The tone was more upbeat than could have been expected 18 months into the COVID-19 pandemic. The […]
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IFC looking at investment opportunities ‘even more actively’ in Papua New Guinea, says new country head

Markus Scheuermaier is the International Finance Corporation's (IFC) new Resident Representative in Papua New Guinea. He shares his thoughts on how the IFC can make the most difference in PNG with Business Advantage PNG.
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