Malaysian conglomerate Sime Darby has indicated it will expand processing operations through its takeover of New Britain Palm Oil, following its final purchase of Papua New Guinea’s largest agribusiness.
Industry sectors
Papua New Guinea is well positioned to benefit from rising LNG demand, despite falling prices, says InterOil Managing Director, Michael Hession.
Business and employment travel into Papua New Guinea has more than tripled in the last 15 years, outperforming leisure travel, which has see marginal growth over the last five years. Robert Upe report
Papua New Guinea’s Parliament is likely to approve establishing the long-awaited Sovereign Wealth Fund by June, after unanimously voting for its enactment at its first reading last week.
Last week, independent arbitration upheld InterOil’s decision to sell a gross 40% shareholding in the Elk-Antelope LNG project to French super major, Total SA. Total’s Managing Director in PNG, Philippe Blanchard, talks exclusively to Business Advantage PNG about the arbitration result and Total’s plans for the project.
The Wafi-Golpu gold-copper project in Morobe Province is a bright spot in an otherwise tight mining environment. The Morobe Mining Joint Venture partners believe it will be one of the world’s lowest cost gold projects, and expects production to begin in 2020.
The International Court of Arbitration of the International Chamber of Commerce yesterday dismissed Oil Search’s claims over 40% of the Elk-Antelope gas field in Papua New Guinea’s Gulf Province.
Papua New Guinea’s PNG LNG project has a new leader: Andrew Barry. ExxonMobil PNG’s new Managing Director speaks exclusively to Business Advantage PNG about the future of PNG’s largest resources project and the impact of lower global gas prices.
A commitment to growth throughout the Pacific region has continued for Papua New Guinea-based Bank of South Pacific, with the acquisition of new Pacific operations from Westpac and launch of a new subsidiary.
Services companies and contractors are often a casualty of a mining industry downturn. Business Advantage PNG talks to companies servicing the sector in Papua New Guinea about how they have coped with the downturn and the potential for a turnaround in the country.