ExxonMobil PNG may have trumped Oil Search’s bid for InterOil Corporation, but Papua New Guinea’s largest company will still benefit from the US major’s US$2.3 billion bid, according to Oil Search’s Managing Director Peter Botten. He tells Business Advantage PNG that the bid by ExxonMobil delivers most of the benefits of Oil Search’s take over offer and pushes the ‘cooperation agenda’.
The Autonomous Bougainville Government (ABG) says it is likely to put exploration licences out to international tender as a first step towards restarting the K177 billion Panguna gold and copper mine. Governor John Momis tells Business Advantage PNG he expects the ABG to take up Rio Tinto’s offer of shares, claiming that the national government should pass on the shares it was given by Rio to the ABG.
Two years ago, Port Moresby based ICT company, Kumulsoft, branched out into writing tailored software products for local companies and government departments. Now they have six major clients on the books, as well as a number of law firms. Partner Marsh Narewec explains their success to Business Advantage PNG.
Next week, the Papua New Guinea-focused gas explorer InterOil may well have a new owner, after its shareholders consider rival offers from Oil Search and ExxonMobil. Business Advantage PNG considers the implications for PNG’s second gas project, Papua LNG and the wider economy.
Roberta Morlin is developing an app that will be able to provide direct medical consultation for women in remote PNG. She explains to Business Advantage PNG how it would work and the challenges of being a young entrepreneur in PNG.
There is a growing call for greater protection of Papua New Guinea industry to respond to allegedly unfair international competition. A number of manufacturers tell Business Advantage PNG that most countries have used protectionism to foster their domestic industries and it is time for PNG to do the same.
Frieda River, a wholly owned PNG subsidiary of PanAust, has lodged a Special Mining Lease application to Papua New Guinea’s Mineral Resources Authority to develop the Frieda River Copper-Gold Project. Glen Connell, PanAust’s General Manager, Government and Community Relations, tells Business Advantage PNG that developing a ‘social licence’ to operate is just as crucial to the success of the project.
At a time when many companies in Papua New Guinea are cutting back, Goodman Fielder is looking to ramp up its operations. Jean-Michel Lejeune, General Manager at Goodman Fielder PNG, tells Business Advantage PNG how the PNG subsidiary is looking to expand.
The Papua New Guinea government faces challenges in managing its cash flow, according to Yurendra Basnett, PNG Country Economist for the Asian Development Bank (ADB). The ADB’s Outlook 2016 paper on the Asian region says PNG’s debt servicing costs are likely to rise.
Papua New Guinea’s manufacturers experienced difficult conditions in 2015 and many are concerned that things will get worse before they get better. David James talks to some of the key figures from the sector to find out how they are coping with the tough market conditions.