A study of retirement funds in the Pacific suggests Papua New Guinea’s superannuation funds should diversify their investments more. It also says COVID-19 has had an effect on the funds’ liquidity.
Blame it on oil and gas prices? Horizon Oil leaves Papua New Guinea
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9 Nov 2020 by 1 Comment
Horizon Oil has announced that it is selling its assets to its co-venturer Arran Energy and pulling out of Papua New Guinea. The prospect of a weak oil price may be to blame, according to one analyst.
Cementing their position: Mayur Resources’ big plans for Papua New Guinea
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3 Nov 2020 by 3 Comments
Mayur Resources has just released its annual report, providing an update on its diverse portfolio of mining and energy projects in Papua New Guinea, including the Central Cement and Limestone project.
‘Promising’ forecast: Papua New Guinea’s economy doing well compared to neighbours, says bank
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29 Oct 2020 by Leave a Comment
Papua New Guinea is increasing its debt by less than other nearby nations and the contraction of its economy is not expected to be as severe as the world average, says a Kina Bank report.
Papua New Guinea at risk of losing foreign investment, says head of think-tank
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28 Oct 2020 by 1 Comment
Papua New Guinea should seek to attract more foreign investment in the wake of the COVID-19 crisis. But many of its policies are going in the opposite direction, according to Paul Barker, Executive Director of the Institute of National Affairs.
Commodities update: palm oil reverses trend, LNG soars but oil continues to weaken
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28 Oct 2020 by Leave a Comment
LNG prices continue to surge and are now up by over a third this year. But oil prices eased and cocoa prices also fell slightly. Business Advantage PNG’s monthly review of commodity and financial markets.
‘Slow recovery’: Business Council of Papua New Guinea demands focus on economy
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20 Oct 2020 by Leave a Comment
Business in Papua New Guinea has responded well to COVID-19 but is now facing a downturn at the lower end of expectations. David Toua, board member of the Business Council of Papua New Guinea says the focus now needs to turn to the economy.
Digging deeper: resources sector’s contribution undervalued in Papua New Guinea
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19 Oct 2020 by Leave a Comment
The contribution of the resources sector to the Papua New Guinea is being greatly under-estimated according to Maygen Turliu, Director of Tax & Business Services for Deloitte PNG. What appears in Treasury’s Budget is less than a third of its actual contribution.
Metal mayhem: Barrick set to re-open Porgera; Chairman quits Kumul Minerals
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19 Oct 2020 by 1 Comment
In a surprise development, the Porgera gold mine looks set to re-open, ending a period of intense disagreement between Papua New Guinea’s government and Barrick Niugini, the mine’s operator.
No shore thing: Twinza and Papua New Guinea deal still uncertain
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14 Oct 2020 by Leave a Comment
The Papua New Guinea government hopes that its ‘in-principle’ agreement with Twinza Oil over the Pasca A offshore oil field in the Gulf of Papua will be a template for new oil and gas projects. But the project isn’t across the line just yet.
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