Papua New Guinea’s resources sector to gather in Sydney

Welcome,

Next month’s 16th Papua New Guinea Mining and Petroleum Investment Conference in Sydney (5 to 7 December) will mark the event’s return for the first time since the COVID-19 pandemic. Business Advantage PNG previews what to expect.

In brief: Papua New Guinea’s Treasurer meets with global rating agencies & other business stories

Welcome,

Treasurer Ian Ling-Stuckey met with two global rating agencies to talk about Papua New Guinea and its loan history, the United States pledges about K2.8 million in programs for the Pacific and Prime Minister Marape green lights the Japan Development Institute to work on a new Special Economic Zone (SEZ) Master Plan. The business news you need.

Kumul Petroleum moves to increase Papua New Guinea’s stake in PNG LNG project

Welcome,

State-owned Kumul Petroleum has made an offer to purchase a further five per cent of the PNG LNG project from Santos. The US$1.4 billion move looks set to position it to play a greater role in the future of Papua New Guinea’s oil and gas sector with global LNG demand increasing.

Rising oil price to impact Papua New Guinea, says Puma Energy Country Head

Welcome,

The rising oil price will have a significant impact on Papua New Guinea this year, according to the Country Manager and Director for Puma Energy, Hulala Tokome.

Fabrication of Papua New Guinea’s new gas projects could be done in-country

Welcome,

A new fabrication facility being planned to support the next wave of gas projects in Papua New Guinea could create as many as 15,000 jobs and enable Papua New Guinea to compete for regional work, according to Wapu Sonk, Managing Director of Kumul Petroleum.

Oil and gas: a risky business [opinion]

Welcome,

How can investors evaluate the changing oil and gas risk landscape? And what does it mean for valuations? Ian Thom, Director, Middle East Upstream Research, Wood Mackenzie, explains.

Vive le gaz! Total and Papua New Guinea ‘remobilise’ Papua LNG

Welcome,

There are signs of a renewed effort to push ahead on the Total-led Papua LNG project after successful meetings between the company’s CEO and a senior government delegation.

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

Welcome,

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

Welcome,

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

Welcome,

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.