Next week, the Papua New Guinea-focused gas explorer InterOil may well have a new owner, after its shareholders consider rival offers from Oil Search and ExxonMobil. Business Advantage PNG considers the implications for PNG’s second gas project, Papua LNG and the wider economy.
Signs of recovery: a monthly review of commodity prices and financial markets
Welcome,
Despite short-term weaknesses, oil and gold prices are up over the year so far. Gas prices, although only half their 2014 peak, may be finding a floor while coffee prices are strong. Meanwhile, domestic equities have moved sideways, while some Australian miners have surged. Business Advantage PNG’s monthly overview of commodity and financial markets.
In brief: Petroleum Minister says Bougainville President should ‘carefully consider’ offer of free equity in BCL, and other business stories
Welcome,
John Momis told to ‘carefully consider’ equity offer from Rio Tinto, ExxonMobil declines to confirm or deny InterOil bid, and Supreme Court orders parliamentary vote on no confidence motion. Your weekly digest of the latest business news.
In brief: Bank of PNG pursuing foreign exchange options and other business stories
Welcome,
Bank of Papua New Guinea negotiating with ‘partners’ about foreign exchange, Oil Search to address competition issues and Travel Air to resume operations. Your weekly digest of the latest business news.
Oil Search’s InterOil acquisition to consolidate company as regional player in oil and gas
Welcome,
Oil Search, Papua New Guinea’s biggest company and largest non-government employer, looks set to consolidate its position as a major player in the Asia Pacific oil and gas market with its $US2.2 billion purchase of InterOil. Chief Executive of Oil Search, Peter Botten, says it will allow the company to be ‘hugely influential in the further development of our world class PNG LNG and Papua LNG assets.’
Results of Papua New Guinea’s major companies show some struggling more than others
Welcome,
Recently released results of some of Papua New Guinea’s major companies indicate that the economic downturn in 2015 put significant pressure on earnings. However, while energy companies suffered most, PNG’s finance sector proved resilient.
In brief: Call for Papua New Guinea government and industry to weather low commodity prices, and other business stories
Welcome,
Oil Search leader says PNG ‘well placed’ to manage low commodity price regime, Ok Tedi expected to be profitable, and BSP reports 5 per cent profit increase. Your weekly digest of the latest business news. PNG is well placed to weather the current low world oil price environment, but the Government and industry need to […]
Recent readers’ comments