Head of bank comments on foreign exchange improvement at the end of last year, alluvial mining reserved for Papua New Guineans. and Santos reports record profits. The business news you need today.
Oil Search Ltd
Santos is listing on Papua New Guinea’s stock exchange, the PNGX, after its merger with Oil Search received the necessary final approvals. It will immediately become the exchange’s largest listing, providing PNG’s capital markets with a timely boost.
Oil Search’s shareholders have voted overwhelmingly to approve its merger with fellow petroleum and gas company Santos at a special shareholders meeting. With National Court and ICCC approval also received, the way is clear for the creation of a A$23 billion (K56.88 billion) resources company.
Santos and Oil Search merger now in the hands of the ICCC, DataCo reduces wholesale prices by 66 per cent for metro fibre connectivity services, and Treasurer Ling-Stuckey receives report on the Central Bank Act 2000 review. The business news you need to know.
‘Heads of agreement’ have been reached for the ExxonMobil-led P’nyang gas project in Papua New Guinea’s Western Province. Business Advantage PNG looks at what this means for the project’s future development.
Crowdfunding and a new listed fund are in the pipeline at Papua New Guinea’s stock exchange, PNGX, as it looks at new ways of grow the country’s capital markets and encourage SMEs.
Business owed K2 billion in GST refunds, Internal Revenue Commission to launch online tax payments and new Twinza Oil chairman to travel to Papua New Guinea. Your digest of the latest business news.
Oil and gas companies Oil Search and Santos have completed a merger agreement set to create a company with ‘a pro-forma market capitalisation’ of approximately A$21 billion (K54 billion). Regulatory and shareholder approvals will ultimately decide the deal’s fate, however.
BSP Financial Group and Oil Search present half year results, Papua New Guinea signs agreement with the Organisation for Economic Co-operation and Development. The business news you need today.
Kumul Petroleum Holdings Limited (KPHL) welcomes new directors to its board, departure from Oil Search board, and the International Finance Corporation (IFC) gets a new Regional Director.