O’Neill says Supplementary Budget won’t contain any new taxes, Oil Search MD says oil and gas sector could earn K60 billion over the next seven years, and central bank prepares to use block chain technology. Your weekly digest of the latest business news.
In brief: No new taxes, says Prime Minister, and other business stories
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22 Aug 2017 by Leave a Comment
Industry collaboration and government help crucial for Western Province gas, says Repsol chief
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2 May 2017 by Leave a Comment
Cross-industry collaboration and help from the Papua New Guinea government are required to get the most out of the gas in Western Province, David Lester, Chief Office Representative for Repsol PNG tells Business Advantage PNG.
‘Roller coaster ride’ is forcing gas players to aggressively pursue efficiencies says President of PNG Chamber of Mines and Petroleum, Gerea Aopi
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23 Jan 2017 by 1 Comment
Large scale gas projects suit multi-operators, says Gerea Aopi, President of the PNG Chamber of Mines and Petroleum. He tells Business Advantage PNG that this allows operators in Papua New Guinea to spread the fixed costs, which is one way that the industry is looking for productivity improvements.
Total aiming to start Papua LNG production in 2022/23, says Blanchard
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28 Nov 2016 by 4 Comments
Philippe Blanchard, Managing Director of Total E&P PNG – operator of the Papua LNG project – tells Business Advantage PNG that production for the project is expected to begin in 2022/2023. He says Total is using local labour and companies as much as possible.
Oil Search will benefit from working with ExxonMobil on Papua LNG project, says Botten
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3 Aug 2016 by Leave a Comment
ExxonMobil PNG may have trumped Oil Search’s bid for InterOil Corporation, but Papua New Guinea’s largest company will still benefit from the US major’s US$2.3 billion bid, according to Oil Search’s Managing Director Peter Botten. He tells Business Advantage PNG that the bid by ExxonMobil delivers most of the benefits of Oil Search’s take over offer and pushes the ‘cooperation agenda’.
Oil Search’s InterOil acquisition to consolidate company as regional player in oil and gas
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25 May 2016 by 1 Comment
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.’
Papua LNG project ‘definitively’ going ahead in Papua New Guinea, says Total
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29 Apr 2016 by 17 Comments
France’s Total SA has confirmed its plans to commence construction for Papua LNG, the country’s next big liquefied natural gas project. Business Advantage PNG spoke with Philippe Blanchard, Managing Director of its PNG subsidiary, Total E&P PNG, to learn more about its race to start construction in 2018.
Papua LNG project to have ‘similar impact’ on Papua New Guinea to PNG LNG: InterOil CEO
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29 Mar 2016 by Leave a Comment
With the PNG LNG project now in production, all eyes are on Papua New Guinea’s next likely gas project: Papua LNG. InterOil Corporation has been with the project, based on the Elk-Antelope gas fields in Gulf Province, since its inception. Chief Executive Officer Michael Hession tells Business Advantage PNG why the project is still promising, even in a time of low global gas prices.
Oil Search reviewing costs as prices fall, but Botten says Papua New Guinea gas projects will be prioritised
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3 Feb 2016 by Leave a Comment
Declining oil prices have prompted a review of Oil Search’s activities, even as production hit record levels in 2015. Nevertheless, Papua New Guinea’s largest company says it is generating positive cash-flows and will be making a priority of future investment in the PNG LNG and Papua LNG gas projects.
In Brief: Papua New Guinea Budget deficit rises to 9.4% of GDP, and other business stories
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5 Aug 2015 by
Treasury says Deficit rises to 9.4% of GDP, foreign advisers ban, and parliament passes Sovereign Wealth Fund bill. Your weekly digest of the latest business news.
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