Papua New Guinea has participated in its first report to the Extractive Industries Transparency Initiative (EITI), which is a global effort to improve transparency in resource rich countries to help them avoid the so-called ‘resource curse’.
Petromin Holdings
Capital raising launched by Santos, Australia to provide drought relief for Papua New Guinea and National Fisheries Authority secures South Korean contract. Your weekly digest of the latest business news.
Redundancies at Petromin Holdings ahead of restructure, LNG price slump may go further, and Santos confident its share price will rise. Your weekly digest of the latest business news.
PM promises to upgrade Gulf-Southern Highlands Highway, a ban on foreigners buying land, and a possible chocolate factory for East Sepik. Your weekly digest of the latest business news.
After overcoming several delays, development of Nautilus Minerals’ deep sea copper-gold mining project, Solwara 1, has taken significant steps forward in recent months. Business Advantage PNG talks with Nautilus Chief Executive Officer Michael Johnston about the world-first project.
Canadian mining company Nautilus Minerals will accelerate its range of seabed mining projects across the Pacific, after finally signing a US$120 million (K336 million) agreement with the Papua New Guinea government to develop its Solwara 1 mining project in the Bismarck Sea.
InterOil Corporation has announced it is teaming up with France’s Total S.A. to develop Papua New Guinea’s second LNG gas project at the Elk and Antelope fields in Gulf Province. How will the new project fit into PNG’s existing LNG landscape?
Petromin’s CEO resigns and a new economist joins AusAid
Papua New Guinea’s Prime Minister, Peter O’Neill, has confirmed the government will restructure the country’s interests in oil, gas and mining resources into two separate mining and petroleum companies. All other state-owned enterprises will be absorbed into a third holding company.
Papua New Guinea’s oil and gas sector continues to attract new entrants as its ExxonMobil-led PNG LNG liquefied natural gas project moves inexorably towards a production stage.