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.
Search Results for: Papua LNG
Oil Search capital raising: is stake in PNG LNG project up for sale?
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8 Apr 2020 by 6 Comments
In brief: Papua New Guinea’s financial institutions respond to State of Emergency and other business stories
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6 Apr 2020 by 1 Comment
Papua New Guinea’s financial institutions offer businesses support for State of Emergency, Oil Search cuts staff, and Air Niugini to resume flights. The business news you need to kickstart your week.
Forex squeeze: is Papua New Guinea’s stable kina a liability?
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1 Apr 2020 by Leave a Comment
As a thinly traded currency, the kina has been protected from some of the volatility affecting world markets in the wake of COVID-19, but that presents its own set of problems.
Oil collapses, copper and cocoa also down: a monthly review of Papua New Guinea’s commodities and financial markets
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30 Mar 2020 by Leave a Comment
The oil price has cratered and LNG prices have also been weak. Copper is down sharply and the cocoa price is also off sharply. Business Advantage PNG’s monthly overview of commodity and financial markets.
How Papua New Guinea’s informal and local economy can get through the COVID-19 crisis
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23 Mar 2020 by Leave a Comment
The economic fallout from the coronavirus (COVID-19) is creating havoc across world markets and economies. According to the ratings agency Fitch, Papua New Guinea’s formal economy will be affected, but the story could be different for its informal and local economy.
How Papua New Guinea is faring in the global financial maelstrom
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18 Mar 2020 by Leave a Comment
The rapid spread of the coronavirus COVID-19 has disrupted global economic activity and led to a fall in financial markets. But the story is very different for big companies in Papua New Guinea, although there will be some adverse impacts, especially in the oil and gas sector.
Ratings agency reveals how Papua New Guinea will manage its debt
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16 Mar 2020 by Leave a Comment
Papua New Guinea’s Government is set to rely heavily on concessional finance from multilateral institutions, according to ratings agency Moody’s. The agency is maintaining a B2 rating for PNG debt but has some surprising revelations about the country’s finances.
What the oil price shock means for Papua New Guinea
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11 Mar 2020 by Leave a Comment
Analysts have contrasting views on the effect of the oil price war between Russia and Saudi Arabia on long-term oil and gas projects in Papua New Guinea. David James considers these, and the likely impact on domestic petrol and diesel prices.
Blast from the past: Papua New Guinea’s economy in 2020
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6 Mar 2020 by Leave a Comment
The year 2020 looks like being a watershed year for Papua New Guinea, with a number of transformative projects awaiting the green light and a new government seeking to implement an ambitious agenda.
In brief: Papua New Guinea announces plans for ‘partial privatisation’ of state-owned enterprises and other business stories
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2 Mar 2020 by 1 Comment
Papua New Guinea’s Minister for State Enterprises announces plans for ‘partial privatisation’ of state-owned enterprises, P’nyang negotiations between ExxonMobil and PNG could resume and company reporting season. The business news you need to kickstart your week.
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