More LNG trains likely for Papua New Guinea, Chamber of Commerce comes out in support of INA head, and gas-fired power may be coming to Port Moresby. The week’s business news in brief.
Oil Search Ltd
World Bank loan for roads and agriculture, draft tax review released and rubber farming halts in Western Province. Our summary of the week’s business stories.
A budget deficit for Papua New Guinea but the ADB forecasts massive growth in 2015. Meanwhile, nickel production looks set to rise. The week’s business news in brief.
InterOil says it will strongly defend the recent deal it signed with French oil company Total SA involving the Elk-Antelope gas fields Gulf Province.
The jockeying for positions in what could be Papua New Guinea’s second liquefied natural gas project has taken a surprising turn, with Oil Search purchasing Pac LNG’s holding in the Elk and Antelope gas fields in Gulf Province.
The O’Neill Government to appeal a National Court ruling ordering Ok Tedi to suspend dumping, Fisheries Authority makes K10m available for small business, and Newcrest cash-flow looking positive. Your quick digest of the week’s business news.
Munro and Kay switch to Oil Search
Sri Lanka praises PNG for not criticising CHOGM venue, PNG’s PM to raise visa issue with Gillard later this week, a 3rd Malaysian company considers investing in PNG’s palm oil industry, a call for Woodside to take over Oil Search and what on earth are ‘disruptive technologies’?
Oil and gas exploration and production company, Oil Search, has reported a US$175.8 m profit in its preliminary annual results, a 13% fall on last year, which the company attributes to high exploration expenses.
New Chair of Oil Search