The fall in global oil and gas prices will reduce the Papua New Guinea government’s revenue by at least K1.1 billion in 2016. A new Budget strategy is needed, argue economists Stephen Howe and Paul Flanagan, who suggest a solution may lie in the government selling its Oil Search shares.
Companies and dealers ‘adversely affected’ foreign exchange availability in Papua New Guinea, Bougainville Government considers large-scale mining, and Asian Development Bank commits K1.7 billion to PNG. Your weekly digest of the latest business news.
Joint venture elects Total as operator, PNG DataCo discusses Solomon Islands link, and WCB Resources lifts stake in gold project. Your weekly digest of the latest business news.
Papua New Guinea is well positioned to benefit from rising LNG demand, despite falling prices, says InterOil Managing Director, Michael Hession.
Air Niugini secures agreement with Air Vanuatu and Solomon Airlines, Cue Energy rejects takeover offer, and Steamships closes Highlands Highway operations. Your weekly digest of the latest business news.
Last week, independent arbitration upheld InterOil’s decision to sell a gross 40% shareholding in the Elk-Antelope LNG project to French super major, Total SA. Total’s Managing Director in PNG, Philippe Blanchard, talks exclusively to Business Advantage PNG about the arbitration result and Total’s plans for the project.
PNG LNG project satisfies financial agreements, PNG Ports profits double, and Indochine Mining raises funds. Your weekly digest of the latest business news.
The International Court of Arbitration of the International Chamber of Commerce yesterday dismissed Oil Search’s claims over 40% of the Elk-Antelope gas field in Papua New Guinea’s Gulf Province.
Papua New Guinea’s PNG LNG project has a new leader: Andrew Barry. ExxonMobil PNG’s new Managing Director speaks exclusively to Business Advantage PNG about the future of PNG’s largest resources project and the impact of lower global gas prices.
Elk-Antelope arbitration hearing in London completed, fuel supplies to return after roadblocks eased, and Santos delivers sales records. Your weekly digest of the latest business news.