Papua New Guinea’s fiscal regime for resources projects ‘fair,’ says Santos GM

Papua New Guinea has a ‘fair and reasonable’ fiscal regime for resources when compared with its neighbours Australia and Indonesia, according to John Chambers, General Manager PNG for Santos. He outlines three approaches used around the world to deliver benefits from projects.

‘Encouraging’ gas find likely to boost Papua New Guinea LNG expansion as China locks in long-term contract

Analysis of test results from a potentially new LNG find at the Barikewa-3 well in the Papua New Guinea Forelands is underway but it’s too early to say how that gas will be commercialised, according to well operator, Oil Search. Meanwhile, the signing of a long-term contract for gas from PNG with China confirms demand for gas from China will continue well into the 2020s.

In brief: Papua New Guinea on the cusp of a ‘super cycle’ in mining investment, says the ANZ, and other business stories

Papua New Guinea economy on the cusp of a mining boom, kina’s fair value ‘around US 23-25 cents’, and niche tourism could nearly triple tourism numbers in 10 years. Your weekly digest of the latest business news.

In brief: Gas from PNG LNG plant to feed the Port Moresby grid in early 2019, and other business stories

New Port Moresby power plant to be online during early 2019, US equity firm bids A$13.5 billion for Santos, and PNG Post keen to diversify. Your weekly digest of the latest business news.

In brief: Quake damage in LNG and Ok Tedi mining areas, and other business stories

ExxonMobil, Oil Search close LNG production facilites after quake, analysts expect kina to fall ‘over the near-term’, and agreement being finalised to allow Philippines farmers to grow rice in PNG. Your weekly digest of the latest business news.

In brief: Papua New Guinea signs up to China’s ‘One Belt, One Road’ initiative, and other business stories

China deal to benefit Highlands provinces, call for restructure of agriculture department and quarantine authority, and Pacific Assurance Group goes into liquidation. Your weekly digest of the latest business news.

In brief: BSP Chairman says dual listing on ASX ‘speculative’, and other Papua New Guinea business news

Papua New Guinea’s largest bank considers dual listing, ADB outlook for PNG ‘positive’, and Santos restructures. Your weekly digest of the latest business news.

People moves: ANZ Bank, Santos, Nautilus Minerals, Digicel

A new senior appointment at the ANZ, Santos appoints VP to manage non-core assets, Nautilus board member resigns, promotion for Digicel PNG’s Marketing Manager.

People moves: ANZ Bank, Santos

ANZ Bank’s regional CEO to retire, senior management changes at Santos

Oil Search reviewing costs as prices fall, but Botten says Papua New Guinea gas projects will be prioritised

Declining oil prices have prompted a review of Oil Search’s activities, even as production hit record levels in 2015. Nevertheless, Papua New Guinea’s largest company says it is generating positive cash-flows and will be making a priority of future investment in the PNG LNG and Papua LNG gas projects.