Horizon Oil has announced that it is selling its assets to its co-venturer Arran Energy and pulling out of Papua New Guinea. The prospect of a weak oil price may be to blame, according to one analyst.
Industry sectors
SME Business Advisor Akae Beach, from Beach Accounting Advisory, looks at the pros and cons of taking part in the Papua New Guinea government’s SME concessional loan plan.
The travel industry has borne the brunt of restrictions during the global pandemic, but things are gradually returning to a new normal in Papua New Guinea. Business Advantage PNG looks at the latest travel advisories.
Mayur Resources has just released its annual report, providing an update on its diverse portfolio of mining and energy projects in Papua New Guinea, including the Central Cement and Limestone project.
Zha Agabe-Granfar, founder of Verge, a boutique digital and design solutions agency based in Port Moresby, shares her top advice for SMEs seeking to thrive in the digital space: trust is king.
Credit card giant Visa is fast-tracking its digital revolution to the Pacific due, in part, to COVID-19. According to its senior South Pacific executive, there will benefits for both businesses and consumers.
The first half of the Papua New Government Government’s promised K200 million funding for small and medium-sized enterprises has been handed over to Bank South Pacific. The money will be used to provide subsidised business loans.
The new Managing Director of Steamships Trading Company, Rupert Bray, says the company has ‘performed admirably’ during the COVID-19 crisis.
The contribution of the resources sector to the Papua New Guinea is being greatly under-estimated according to Maygen Turliu, Director of Tax & Business Services for Deloitte PNG. What appears in Treasury’s Budget is less than a third of its actual contribution.
In a surprise development, the Porgera gold mine looks set to re-open, ending a period of intense disagreement between Papua New Guinea’s government and Barrick Niugini, the mine’s operator.