Blame it on oil and gas prices? Horizon Oil leaves Papua New Guinea

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Horizon Oil has announced that it is selling its assets to its co-venturer Arran Energy and pulling out of Papua New Guinea. The prospect of a weak oil price may be to blame, according to one analyst.

Commodities update: silver loses shine, cocoa melts but LNG prices rise

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LNG prices surged, clawing back most of this year’s losses, but oil prices fell. Silver also lost some of its recent spectacular price gains. Business Advantage PNG’s monthly overview of commodity and financial markets.

LNG prices bounce back

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LNG prices have surged clawing back earlier losses, while the oil price is steady and cocoa is also strong: Business Advantage PNG’s monthly overview of commodity and financial markets.

What the International Monetary Fund is doing in Papua New Guinea

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With Papua New Guinea’s government debt set to rise to over 40 per cent of GDP due of the COVID-19 crisis, the International Monetary Fund’s PNG Mission Chief, Scott Roger, explains how the IMF is helping the country get back on a sustainable financial course.

Ripple effects: how the global pandemic is affecting oil and gas in Papua New Guinea

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The COVID-19 crisis has profoundly shaken the global oil and gas industry. With the medium term picture for LNG prices likely to heavily impact PNG’s economy and government finances, Business Advantage PNG looks at the sector’s prospects.

Oil and gas prices recover: our monthly review of Papua New Guinea’s commodities and financial markets

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Oil and LNG prices have recovered to some extent and copper has also bounced back. Palm oil prices have strengthened but cocoa is weaker. Business Advantage PNG’s monthly overview of commodity and financial markets.

Oil Search capital raising: is stake in PNG LNG project up for sale?

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Papua New Guinea’s largest company, Oil Search, is proposing to raise US$700 million (K2.4 billion) to strengthen its balance sheet in response to declining oil prices. The company’s stake in the PNG LNG project may also eventually be on the table.

What the oil price shock means for Papua New Guinea

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Analysts have contrasting views on the effect of the oil price war between Russia and Saudi Arabia on long-term oil and gas projects in Papua New Guinea. David James considers these, and the likely impact on domestic petrol and diesel prices.

LNG price tumbles further, while gold and cocoa rise

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Oil and gas prices both fell this month, with LNG dropping particularly sharply, while gold and cocoa are holding their own in a tough market for commodities.

Will Papua New Guinea slip to the back of the LNG queue?

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The suspension, at least for now, of negotiations over the P’nyang LNG project, has raised issues about the investment environment in Papua New Guinea and the issue of risk, according to analysts.