Twinza Oil and Papua New Guinea Government conclude negotiations on Pasca A gas project

Welcome,

The Papua New Guinea Government and Twinza Oil have concluded negotiations on terms for Pasca A, PNG’s first offshore gas project. While the terms are subject to approval by PNG’s National Executive Council, a signed gas agreement is expected as soon as the end of this month.

In brief: BSP refutes allegations of breaches to anti-money laundering laws and other business stories

Welcome,

BSP Financial Group Limited responds to accusations, Air Niugini temporarily suspends flights to Cairns and Memorandum of Understanding signed to boost green finance initiatives.

In brief: Re-opening of Porgera inching closer and other business stories

Welcome,

Re-opening of Porgera inching closer, Sinivit gold mine causing environmental concerns and SMEs need a billion kina . The business news in brief.

Papua New Guinea Government demands make Pasca A gas project ‘unfinanceable’, says Twinza Oil

Welcome,

The anticipated signing of a gas agreement for Pasca A, Papua New Guinea’s first undersea gas project, has stalled at the eleventh hour. Developer Twinza Oil says it will stand down its project team due to a last-minute State request it claims would render the project ‘unfinanceable’.

In brief: Negotiations with Twinza Oil still ongoing and other business stories

Welcome,

Negotiations for Twinza Oil’s Pasca A still ongoing, ANZ continues to waive fees for online transaction to 10 Pacific countries and Bank South Pacific implements a ‘no mask, no entry’ policy. The news in brief.

New laws, new projects, new power: Kumul Petroleum’s MD on Papua New Guinea’s petroleum and gas future

Welcome,

In this exclusive interview, Wapu Sonk, Managing Director of Kumul Petroleum Holdings, looks ahead to the next decade of Papua New Guinea’s petroleum and gas sector.

In brief: Kumul Submarine Cable System completes connections and other business stories

Welcome,

The Kumul Submarine Cable lands in Bougainville , the Pasca A gas project is on its way to becoming the first offshore field development in PNG and the PNG Tourism Promotion Authority reveals the impact COVID-19 on the tourism industry. The business news your need to kickstart your week.

In brief: Papua New Guinea to receive K70 million from the World Bank and other business stories

Welcome,

World Bank commits K70 million to help Papua New Guinea in its fight against COVID-19, the Minister for Petroleum gives an update on resource projects and Oil Search successfully completes its equity raise. The business news you need to know to kickstart you week.

Gas and petroleum in Papua New Guinea: a sector profile

Welcome,

A profile of the gas and petroleum sector in Papua New Guinea, including information on licensing and taxation, key players and major projects.

To access this post, you must purchase Individual Subscription or Corporate Subscription.

In brief: Parliament passes 10 Papua LNG Project Amendment Bills and other business stories

Welcome,

Parliament passes Papua LNG Project Amendments Bills, the Minister for Petroleum announces that the P’nyang gas field project will be a standalone project, and Twinza Oil says it expects the first production of liquids from the Pasca A condensate gas field by 2022. Your weekly digest of business news.