Papua New Guinea’s Tourism Promotion Authority reveals bleak outcome for 2020, Kumul Petroleum Holdings gets three petroleum retention licenses and new equity holders for PNG LNG. The business news in brief.
Oil Search’s MD talks about the next wave of gas projects in Papua New Guinea
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6 Apr 2021 by Leave a Comment
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 P’nyang effect: Fitch downgrades Papua New Guinea’s LNG export projections
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15 Mar 2021 by 2 Comments
The delaying of negotiations over ExxonMobil’s proposed plan to develop the P’nyang gas field has led analyst Fitch Solutions to downgrade Papua New Guinea’s LNG export projections.
Total expected ‘shortly’ in Papua New Guinea to advance Papua LNG, says Kumul Petroleum MD
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3 Feb 2021 by 4 Comments
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.
Oil Search tightens the purse strings and focuses on Papua LNG
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25 Nov 2020 by 1 Comment
Oil Search has announced in a recent strategy update that it will continue to reduce costs and pull back on exploration. However, the company says it intends to make the Papua LNG project a priority.
Fair share? Papua New Guinea’s move to production sharing in resource projects questioned
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14 Sep 2020 by Leave a Comment
The Papua New Guinea government’s proposal to move to production sharing agreements in resource projects may not solve the government’s financial problems and there is a risk it will harm the country’s reputation for being a good place to invest, according to the industry itself.
Split decision: Papua New Guinea government will not consider Papua PNG and P’nyang together
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9 Sep 2020 by 11 Comments
Papua New Guinea’s Prime Minister, James Marape, has insisted that the country’s proposed LNG projects, Papua LNG and P’nyang, will be dealt with as separate projects.
In brief: Papua New Guinea and Australia sign economic partnership agreement and other business stories
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10 Aug 2020 by Leave a Comment
Papua New Guinea and Australia sign economic partnership agreement, seafood venture for New Ireland, and K200 million for SMEs still on its way. The business news you need to kickstart your week.
Oil change: Marape to alter Papua New Guinea’s oil and gas legislation
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15 Jun 2020 by 9 Comments
Prime Minister James Marape has introduced changes to Papua New Guinea’s oil and gas law, claiming it will benefit the country’s ‘national interest’. The changes may well represent a major shift in the way projects are developed in the future.
Oil Search capital raising: is stake in PNG LNG project up for sale?
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8 Apr 2020 by 6 Comments
Papua New Guinea’s largest company, Oil Search, is proposing to raise US$700 million (K2.4 billion) to strengthen its balance sheet in response to declining oil prices. The company’s stake in the PNG LNG project may also eventually be on the table.
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