Oil Search has cut its 2019 capital spending budget, delays in the Wafi-Golpu project has lead to job loss, and Bank South Pacific reports liquidity in Papua New Guinea’s banking sector has decreased. Your weekly digest of business news.
In brief: Oil Search cuts 2019 capital spending budget and other business stories
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22 Jul 2019 by Leave a Comment
In brief: Port Moresby Stock Exchange changes its name and other business stories
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15 Jul 2019 by Leave a Comment
Papua New Guinea’s stock exchange changes its name, Oil Search signs MoU to help sustainable agriculture, and PNG Power reviews financial reporting. Your weekly digest of business news.
Review of Papua LNG project will solve ‘misunderstandings,’ says Prime Minister
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24 Jun 2019 by Leave a Comment
Prime Minister James Marape told the 2nd Speaker’s Investment Summit in Port Moresby last week that the government would move quickly address ‘misunderstandings’ about the US$10 billion Papua LNG project.
People Moves: Oil Search, Intercontinental Hotel Group, Australia PNG Business Council
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19 Jun 2019 by Leave a Comment
Oil Search welcomes a new member to its Communications and Media team, a Hotel Manager joins Crowne Plaza Residencies Port Moresby, and a new President for the Australia PNG Business Council.
In brief: James Marape announces new cabinet and other business stories
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12 Jun 2019 by Leave a Comment
Papua New Guinea’s new Prime Minister announces his new cabinet, PNG Air Limited enters into a code-sharing agreement with Virgin Australia and Australia commits to helping Solomon Islands develop infrastructure. Your weekly digest of business news.
In Brief: Santos announces plan to buy into P’nyang natural field gas in Papua New Guinea and other business stories
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20 May 2019 by 1 Comment
Santos to become an stakeholder in the P’nyang natural gas field project, an agreement between five telecom companies seeks to advance digitisation in Papua New Guinea, and upgrades to the Muliama–to–Bakok road due to commence soon. Your weekly digest of business news.
In Brief: Bougainville Copper Limited says there is interest in reviving the Panguna Mine and other business stories
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6 May 2019 by Leave a Comment
Nine members of Papua New Guinea’s Parliament resigned from the People’s National of Congress, Bougainville Copper Limited said there is interest to revive the Panguna mine, and rice harvesting commenced at Rangiampun in Umi. Your weekly digest of business news.
Kumul Petroleum’s ambitious plans to boost electrification in Papua New Guinea
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29 Apr 2019 by Leave a Comment
Papua New Guinea’s national oil and gas company plan to increase household electrification and encourage growth in remote locations. Its Managing Director, Wapu Sonk, has revealed the company plans to diversify and focus on more downstream activities in order to maintain revenues.
US$10 billion Papua LNG agreement signed between Papua New Guinea government and developers
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9 Apr 2019 by Leave a Comment
The Papua New Guinea State has signed the gas agreement for the US$10 billion (K33.7 billion) Papua LNG project with Total, ExxonMobil and Oil Search. The project, which will double PNG’s gas production, represents the second-largest foreign direct investment ever in the country.
Date announced for Papua LNG gas agreement in Papua New Guinea
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20 Mar 2019 by Leave a Comment
Papua New Guinea’s Prime Minister Peter O’Neill has announced a date for the signing of the gas agreement for the US$13 billion Papua LNG project. Opening the PNG Petroleum and Energy Summit in Port Moresby yesterday, he also outlined some of the key elements the agreement will contain.
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