Revised Pasca A agreement a ‘setback to investor confidence,’ says Twinza Oil

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The progress of Twinza Oil’s US$2.4 billion (K8.42 billion) Pasca A offshore gas project in Papua New Guinea has again stalled, following a draft gas agreement from the government which the developer claims ‘bears no resemblance’ to the terms it agreed last month.

In brief: Due diligence starts on Santos/Search merger

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Santos and Oil Search potential merger advances, Twinza Oil wants Pandora gas fields license announced before the Pasca A agreement, and funding for Pacific fisheries. PNG business news in brief.

In brief: Papua New Guinea SOEs’ tax debt close to K700 million and other business stories

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The Internal Revenue Commission’s potential plans for state-owned enterprises debt to be repaid, Fiji welcomes Kina Bank, and Link PNG’s proposed acquisition of PNG Air rejected again. The business news you need to know today.

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

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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

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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

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

In brief: Vaccine roll-out commences in Papua New Guinea and other business stories

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Vaccine roll-out commences in Papua New Guinea, the effects of the liquor ban in PNG breweries, and funding for the Edevu Transmission and Electrification project. Your business news curated.

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

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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

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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

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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.