Earlier this month, Papua New Guinea’s government announced a ‘deed of agreement’ with Australian iron ore giant, Fortescue Metals Group, to develop renewable energy projects in PNG. Business Advantage PNG learns more about its plans from Julie Shuttleworth, CEO of subsidiary Fortescue Future Industries.
After the stalling of previous talks, ExxonMobil and the Papua New Guinea government have announced negotiations are recommencing for the P’nyang gas project.
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.
Like it or not, geo- and climate politics look set to have an even stronger influence on PNG’s business and investment agenda.
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 PNG Chamber of Mines and Petroleum announces historic appointment and other moves.
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.
Oil Search elects a new EVP Group Finance (Acting) and New Zealand Trade and Enterprise (NZTE) welcomes a Trade Commissioner to the Pacific.