Nothing to fear from Chinese influence, hydrocarbon discoveries, and Twinza Oil investment decisions. Your weekly digest of the latest business news.

Australia has nothing to fear from increasing Chinese influence in the country and the wider Pacific, according to the Papua New Guinea Government. PNG’s Foreign Affairs Minister, Rimbink Pato, speaking to the ABC, has moved to reassure Australia that Papua New Guinea can manage its relationship with both countries. ‘Papua New Guinea remains a close, reliable and trusted friend of Australia, we’ll work through all the issues of concern together,’ he reportedly said.

***

Exxon Mobil claims new hydrocarbons have been found at its P’nyang South site, which will extend the boundaries of the field. In a statement, the company said it was evaluating the well results and ‘will assess the P’nyang field resource potential and development pathway’.

***

Flaring at Twinza’s offshore well. Credit: PNG Loop

Twinza Oil reportedly says it expects an investment decision on its offshore Pasca A-4 well in the Gulf of Papua in late March, after beginning flaring from natural gas and condensate at the well in December. The company has already invested about US$48 million in the project and will outlay another US$250 million, subject to a development licence being granted. If the company goes ahead, it expects production to begin in 2020.

***

Trip Advisor has joined forces with Pacific Trade Invest (PTI) Australia, to help Pacific island tourism operators grab a bigger share of the global online travel market, through online marketing. Commissioner, Caleb Jarvis,  reportedly told The Post Courier many Pacific island tourism operators have no online presence.

***

The 2018 PNG Fashion Show will run between 4–7 April, and have eight new runways at three locations in Port Moresby. The theme this year is ‘A thousand dresses, a thousand tribes’.

***

THE deadline for the registration of SIM cards in Papua New Guinea has been extended from January 23  to April 30. Minister for Communications Information Technology and Energy Sam Basil made the announcement yesterday, with a stern warning to operators that they would be fined K50,000 per SIM card if those phone numbers were not registered after the deadline, according to The National.

***

Powers over Bougainville’s fisheries and marine resources will be progressively handed over to the Autonomous Bougainville Government (ABG) by the National Fisheries Authority (NFA) after an agreement was signed this week, according to The National. Minister for Bougainville Affairs Simon Damarinu reportedly said this was a momentous occasion that will allow for greater control of resources by the people through ABG.

***

Further to our story last week on what PNG can look forward to in 2018, Tess Newton Cain has previewed the year ahead in the Pacific. The aftermath of last year’s PNG elections will continue in the form of challenges to results in a number of seats, she writes on the Devpolicy blog.

***

The betel nut ban may be re-introduced.

Finally, the governor of PNG’s National Capital District has warned he may re-introduce a ban on the public sale and consumption of betel nut. Powes Parkop told media that betel nut vendors and chewers have been warned to clean up their act by the end of February or face another ban. According to Radio New Zealand, a previous public ban on betel nut was introduced in the capital in 2013 and then lifted in May, 2017.