The latest business news from Papua New Guinea and the region
Changes to the Oil and Gas Act, Prime Minister James Marape has announced that he wants to get the Wafi-Golpu gold mine ‘operational at the soonest’, and opposition leader Patrick Pruaitch has presented a case to challenge Marape’s election as prime minister. Your weekly digest of business news.
Papua New Guinea’s Petroleum Minister has announced that the government will honour a gas deal struck with French major Total SA for the US$10 billion Papua LNG project. The project will be the single largest foreign investment in the Pacific country since the advent of the US$19 billion PNG LNG project a decade ago.
Twinza Oil (PNG) to progress Pasca LNG project, Papua New Guinea’s Prime Minister has said that a Supplementary Budget may be announced within the next few weeks, and the Coral Sea Cable project is nearing completion. Your weekly digest of business news.
In an exclusive interview with Business Advantage PNG, ratings analyst Rebecca Hrvatin, says PNG’s fiscal imbalances will improve—provided the Papua LNG project continues as planned.
Acting Managing Director Carolyn Blacklock has resigned from state-owned utility, PNG Power. The announcement comes with the state-owned utility on the cusp of launching a new ‘reform agenda’.
Proposed changes to the Mining Act are likely to go to Papua New Guinea’s Cabinet ‘in the next few weeks,’ according to Peter Graham, Managing Director of Ok Tedi Mining.
The gas price has increased over the last month, but the oil price has weakened. Cocoa and coffee prices are also down. Business Advantage PNG’s monthly overview of commodity and financial markets.
The two-day 2019 Business Advantage Papua New Guinea Investment Conference concluded yesterday in Sydney and is being hailed as a success. We report from the annual event.
Papua New Guinea’s Minister for Commerce and Industry, Wera Mori, outlined an ambitious plan to boost Special Economic Zones and attract foreign direct investment to PNG at the 2019 Business Advantage Papua New Guinea Investment Conference. Here’s what you need to know.
Minister for Petroleum Kerenga Kua is in Singapore to discuss the Papua LNG agreement, Papua New Guinea’s Kumul Consolidated Holdings announces its profits for the first half of 2019, and the United Nations Development Program Pacific Office opens the first Accelerator Lab in the region. Your weekly digest of business news.