Papua New Guinea LNG production predicted to double within 10 years, reports Fitch Research

Papua New Guinea’s LNG exports will more than double over the next 10 years, as a result of the planned expansion works, according to Fitch Solutions’ Senior Country Risk Analyst, Raphael Mok. But, he tells Business Advantage PNG, the government must address landowners’ backlash against royalty payments.

Security situation a ‘setback’ for business in Southern Highlands Province, says Chamber of Commerce President

Berry Mini, President of the Southern Highlands Chamber of Commerce, told Business Advantage PNG last Friday that there is an increased security presence in Mendi, particularly in front of key commercial and government buildings. The state of emergency is also affecting earthquake recovery supplies.

In brief: Papua New Guinea to issue Eurobond later this year, and other business stories

A US$500 million Eurobond to be issued later this year, Government owes US$88 million to local businesses and February earthquake bill to cost five percent of government expenditure. Your weekly digest of the latest business news.

Papua New Guinea businesses donate K80 million in cash and aid for earthquake relief

Papua New Guinea businesses have donated at least K80 million in cash and equipment to aid February’s earthquake relief program.

O’Neill tells Papua New Guinea resources sector there will be no new taxes

Papua New Guinea’s Prime Minister, Peter O’Neill, told the PNG Mining and Petroleum Conference yesterday that there would be no new taxes for the resources sector. Meanwhile, presentations by the major industry players suggest the next 12 months will be critical in determining the future growth of the sector.

In brief: CPL recovering from fire at headquarters and warehouse, and other business stories

‘Too early’ to identify cause of fire at country’s largest retailer’s headquarters and warehouse, assessment of submarine cable underway, and Competition Commission says InterOil takeover may affect market for pipelines. Your weekly digest of the latest business news.

Papua New Guinea using multiple energy sources to meet growing need

Papua New Guinea is taking a multi-pronged approach to its energy provision. Business Advantage PNG takes a look at the nation’s approach to meeting its power needs.

In brief: Foreign currency issues continue to cause problems, and other business stories

Foreign currency issues continue to cause problems, profit announcements for Nambawan Super and Bank South Pacific and InterOil acquisition finalised. Your weekly digest of the latest business news.

InterOil shareholders approve revised takeover proposal

InterOil shareholders have overwhelmingly approved a revised takeover bid from ExxonMobil, despite opposition from InterOil founder, Phil Mulacek.

In brief: Business leaders predict job losses, pessimistic about revenue growth in 2017, and other business news

‘More jobs to go’ warning if business continue to rationalise, O’Neill says $S300m loan to be used foreign exchange, Australia funding APEC 2018 to fend off China. Your weekly digest of the latest business news.