In brief: PNGX announces the launch of six indices and other business news

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PNGX to launch six indices, Oil Search reports sluggish third quarter results, and Geopacific Resources on track to fund Woodlark. Your weekly digest of business news.

In brief: new guidelines for Kumul Petroleum Holdings and other business news

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Kumul Petroleum Holding Limited has been asked to cease exploration, drilling and greenfield investments, the World Bank has released an economic update signalling economic slowdown in Asian and Pacific economies, and K92 Mining has released its Q3 results above budget. Your weekly digest of business news.

US$10 billion Papua LNG project to go ‘full steam ahead’ in Papua New Guinea

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Papua New Guinea’s Petroleum Minister has announced that the government will honour a gas deal struck with French major Total SA for the US$10 billion Papua LNG project. The project will be the single largest foreign investment in the Pacific country since the advent of the US$19 billion PNG LNG project a decade ago.

In brief: Kumul Telikom Holdings announces major price reductions on internet rates

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Kumul Telikom Holdings has slashed internet rates, Kumul Petroleum Holdings has been asked to report on its earnings since 2014, and a cable laying ship has arrived in Port Moresby to work on the Coral Sea Cable system. Your weekly digest of business news.

Kumul Petroleum’s ambitious plans to boost electrification in Papua New Guinea

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Papua New Guinea’s national oil and gas company plan to  increase household electrification and encourage growth in remote locations. Its Managing Director, Wapu Sonk, has revealed the company plans to diversify and focus on more downstream activities in order to maintain revenues.

People Moves: Kumul Petroleum, Nautilus, National Gaming and Control Board, PNG Customs, Provincial Administrators

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New Chairman for Kumul Petroleum Holdings Limited, Nautilus names a new Managing Director, the National Gaming and Control Board reappoints CEO, Papua New Guinea Customs Chief Commissioner gets a five-year term.

US$10 billion Papua LNG agreement signed between Papua New Guinea government and developers

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The Papua New Guinea State has signed the gas agreement for the US$10 billion (K33.7 billion) Papua LNG project with Total, ExxonMobil and Oil Search. The project, which will double PNG’s gas production, represents the second-largest foreign direct investment ever in the country.

Papua LNG head talks exclusively about the future of the project

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With the signing of the Papua LNG gas agreement with Papua New Guinea’s government imminent, Managing Director of Total PNG Ltd, Jean-Marc Noiray, shares his thoughts on the US$10 billion Papua LNG project with Business Advantage PNG.

Date announced for Papua LNG gas agreement in Papua New Guinea

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Papua New Guinea’s Prime Minister Peter O’Neill has announced a date for the signing of the gas agreement for the US$13 billion Papua LNG project. Opening the PNG Petroleum and Energy Summit in Port Moresby yesterday, he also outlined some of the key elements the agreement will contain.

Papua New Guinea’s fiscal regime for resources projects ‘fair,’ says Santos GM

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Papua New Guinea has a ‘fair and reasonable’ fiscal regime for resources when compared with its neighbours Australia and Indonesia, according to John Chambers, General Manager PNG for Santos. He outlines three approaches used around the world to deliver benefits from projects.