World demand for energy will double by 2050 according to Professor Peter McCabe, Head of the Australian School of Petroleum at the University of Adelaide. But he believes more efficient recovery methods and the increasing role of renewables will keep a lid on prices.
Managing Director of Paradise Foods steps down, Bakani re-appointed as Central Bank Governor, KPMG appoints a new Managing Partner, four new NASFUND executives.
Prime Minister says funding details of Highlands Highway upgrade yet to be finalised, parliament considering outlawing roadblocks, and Telikom replaces CDMA network. Your weekly digest of the latest business news.
Commodities markets appear to have entered a holding pattern, with stability evident in the oil market and metals. Business Advantage PNG’s monthly overview of Papua New Guinea’s commodity and financial markets.
Superannuation company Nasfund continues to deliver positive returns to its members, Chief Executive Ian Tarutia tells Business Advantage PNG. But weak economic conditions in Papua New Guinea, foreign exchange restrictions and rising unemployment mean the organisation has to be agile.
Large scale gas projects suit multi-operators, says Gerea Aopi, President of the PNG Chamber of Mines and Petroleum. He tells Business Advantage PNG that this allows operators in Papua New Guinea to spread the fixed costs, which is one way that the industry is looking for productivity improvements.
The Papua New Guinea economy is not likely to improve greatly in the first half of the year, says Alan McLay, President of the Lae Chamber of Commerce. But he believes companies in Lae – PNG’s manufacturing and logistics hub – remain hopeful of an upturn and he expects some positive developments with power provision.
As Papua New Guinea business gets back to work, Business Advantage PNG looks at some of the issues coming up in 2017. It looks likely to be a year of preparing for better times.
InterOil shareholders to vote on revised takeover bid by ExxonMobil in February, government debt rises in September quarter, Oil Search and Kumul Energy to evaluate proposed power projects. Your weekly digest of the latest business news.
NASFUND’s new Chairman, Australia appoints Consul-General in Lae, EMTV loses CEO, a new NZ High Commissioner, Japan’s Ambassador leaves, new Port Moresby General Hospital CEO, inaugural chairman of Porgera Chamber of Commerce, new board member at Geopacific Resources.