Papua New Guinea faces higher fuel prices as shortages continue

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Fuel buyers in Papua New Guinea have been warned to expect higher prices as the government negotiates with global suppliers to end shortages in the local market related to the winding back of Puma Energy’s operations in the country. Meanwhile, short-term solutions are being put in place.

Conference catches Papua New Guinea of the cusp of a new era of investment

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Investment and partnership opportunities were a focus at this year’s 2023 Business Advantage Papua New Guinea Investment Conference in Brisbane, with numbers exceeding pre-COVID levels.

In brief: Papua New Guinea’s Mid-Year Economic and Fiscal Outlook shows inflation slowing, and other business stories

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Papua New Guinea’s Mid-Year Economic and Fiscal Outlook shows inflation slowing, Airbus wins race to replace Air Niugini fleet, while Securities Commission revokes Melanesian Trustee Services Limited’s trustee license. Your business news in brief.

State of Emergency declared to ‘maintain and stabilise’ Papua New Guinea’s fuel supply

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In direct response to the ongoing disruption of fuel supplies in Papua New Guinea, Petroleum Minister Kerenga Kua has declared an extraordinary 30-day State of Emergency.

Increased trade between Papua New Guinea and Indonesia set to be a focus

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The recent visit by Indonesian President Joko Widodo to Papua New Guinea is a sign of increased interest in boosting the trade relationship with PNG’s closest neighbour. Business Advantage PNG examines the business case.

Massive fleet upgrade to transform Papua New Guinea’s Air Niugini

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Air Niugini’s ambitious 15-year fleet plan will improve efficiency, reliability and allow new international routes to be added. 

In brief: reforms to grow PNGX announced and other business stories

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Reforms to Papua New Guinea’s capital markets, Securities Commission of PNG to investigate the potential sale of minority stake in Trukai Industries, and Newmont and Newcrest told of government’s expectations. Your news in brief.

In brief: Mining lease transferred to New Porgera and other business stories

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Barrick Niugini and Kumul Mineral Holdings transfer Porgera special mining lease to New Porgera, Nadzab Airport expected to be completed by August and Geopacific Resources completes capital raising. Your business news in brief.

People moves: KMPG, Air Niugini, Queensland Government

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KPMG announces changes in leadership roles, Air Niugini has a new Acting GM and inaugural Trade Commissioner for the Pacific appointed.

In brief: Papua New Guinea’s Ramu 2 project on track and other business stories

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The Ramu 2 hydro power station looks to be on track, Mining Minister says there is interest again in Solwara 1 deep sea mining project and the IMF makes sizeable contribution to Papua New Guinea’s economy. Your business news today. Government The International Monetary Fund (IMF) has agreed to provide a 38-month US$918 million (K3.23 […]