Oil Search announces top-tier changes.
In brief: Oil Search announces structural changes and other business stories
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6 Jul 2020 by Leave a Comment
Oil Search shrinks its employee base, Coca-Cola Amatil PNG invests K155 million in infrastructure upgrades and bmobile and Telikom’s merger expected later this year. The news you need to kickstart your week.
Oil and gas prices recover: our monthly review of Papua New Guinea’s commodities and financial markets
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29 Jun 2020 by Leave a Comment
Oil and LNG prices have recovered to some extent and copper has also bounced back. Palm oil prices have strengthened but cocoa is weaker. Business Advantage PNG’s monthly overview of commodity and financial markets.
Amendments to Papua New Guinea’s Mining Act provide for State to take a more active role
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17 Jun 2020 by 7 Comments
Amendments to the Mining Act 1992 have been passed in parliament, with Mining Minister Johnson Tuke explaining it is a step towards ‘taking back’ Papua New Guinea. Meanwhile, industry representatives have expressed some deep concerns.
In brief: Oil Search back trading on PNGX and other business stories
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10 Jun 2020 by Leave a Comment
Oil Search back trading on PNGX, new wholesale internet prices coming and ambitions plans for PNG’s cocoa industry. Your latest summary of the business news you need to know.
Oil Search shares suspended on Papua New Guinea’s stock exchange
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3 Jun 2020 by Leave a Comment
Oil Search, Papua New Guinea’s biggest company, has been suspended from trading on PNGX, the country’s stock exchange, amidst claims that it did not follow proper procedure in its recent capital raising – claims the company is refuting.
In brief: Barrick removes Porgera mine’s production from guidance and other business stories
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11 May 2020 by Leave a Comment
Porgera mine output is removed from Barrick’s full year guidance, Westpac announces new division for Westpac Pacific and Australia and New Zealand agree on a ‘trans-Tasman COVID-safe’ travel zone. The business news you need to kick-start your week.
In brief: lease extension for Papua New Guinea’s Porgera mine refused and other business stories
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26 Apr 2020 by Leave a Comment
Papua New Guinea to take over Porgera Mine, Mining Minister is looking to restart Wafi-Golpu discussions and Shadow Treasurer urges the introduction of a supplementary budget. The business news you need to kickstart you week.
In brief: Papua New Guinea to receive K70 million from the World Bank and other business stories
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15 Apr 2020 by Leave a Comment
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.
Oil Search capital raising: is stake in PNG LNG project up for sale?
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8 Apr 2020 by 6 Comments
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.
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