Papua New Guinea took a step closer to resolving a significant governance issue related to its stock exchange, PNGX, following a National Court ruling late last month. However, uncertainty continues to hold back PNG’s capital markets, reports David James.
Oil Search is a key partner in the next wave of gas projects in Papua New Guinea but has faced a tough year. Business Advantage PNG speaks with Managing Director Dr Keiran Wulff on the company’s future in PNG and the rich potential of its gas reserves.
The Acting Chairman of the Securities Commission Alex Tongayu has issued an order that a new levy will be applied to all transactions on the PNGX, Papua New Guinea’s stock market. It has raised concerns that it will impede the growth of the country’s capital markets.
The long-awaited signing of the Fiscal Stability Agreement between the Papua New Guinea government and Total SA has been announced. It opens to the way for the project to go forward.
Foreign exchange pressures continue to escalate, the Executive Director of the Institute of National Affairs talks about the ‘restorative effect’ reopening Porgera could have, and Oil Search back on track.
The signing of a fiscal stability agreement between Papua New Guinea and French oil major Total looks set to trigger the FEED phase of the multi-billion dollar Papua LNG project. Wapu Sonk, Managing Director of national oil company Kumul Petroleum, tells Business Advantage PNG the signing is expected within the next two weeks.
President Ishmael Toroama says Bougainville is not ‘colluding’ with third parties to reopen Panguna, new project to increase regional and international trade in the Pacific, and potential date for the launch of ISEZ’s project program.
Kina Securities Ltd announces a new Non-Executive Director, Bank South Pacific (BSP) welcomes a new Director, Oil Search appoints a Communication Manager and Newcrest Mining welcomes new external affairs executive.
Supreme Court to make ruling, Telikom PNG cuts fixed-line call services, and a Total delegation readies to talk Papua LNG. The business news you need to kickstart your week.
Oil Search CFO designate departs, new legal counsel at Steamships, new CFO at Nambawan Super, new Deputy Director at Abt Associates.