After the stalling of previous talks, ExxonMobil and the Papua New Guinea government have announced negotiations are recommencing for the P’nyang gas project.
Latest news
The latest business news from Papua New Guinea and the region
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.
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.
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.
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.
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.
The Internal Revenue Commission’s potential plans for state-owned enterprises debt to be repaid, Fiji welcomes Kina Bank, and Link PNG’s proposed acquisition of PNG Air rejected again. The business news you need to know today.
The merger of two of the major players in Papua New Guinea’s oil and gas sector has taken a major step forward, with Santos and Oil Search agreeing terms. What would it mean for PNG?
The ICCC Commissioner issues warning about ‘complete chaos’ with the National Electricity Authority Act, Treasurer gives hope to potential overseas workers, and Nasfund opens a service centre in Maprik. The business news you need today.
The Capital Insurance Group announces Acting CEO and the Coffee Industry Corporation welcomes a new Board Chairman.