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Politics

Chamber says major new resource projects set to make a key contribution to revenue in 2019

THE PNG Chamber of Mines and Petroleum has welcomed the 2019 Budget which has passed in the National Parliament of Papua New Guinea. Deputy Prime Minister and Treasurer Hon. Charles Abel last week presented his 2019 Budget, outlining the framework and agenda for the government’s financial priorities over the next year. The Chamber congratulated the government and Treasurer’s commitment to fiscal stability and its focus on ensuring global competitiveness and

Consortium of governments back electrification of PNG

PAPUA New Guinea has invited Australia, Japan, New Zealand and the United States to work together to support its enhanced connectivity and the goal of connecting 70% of its population to electricity by 2030. Currently only about 13% of Papua New Guinea’s population have reliable access to electricity. Access to electricity is key to Papua New Guinea’s economic growth. Electricity lifts the living standards of communities in cities, towns and

Papua LNG JV signs agreement with PNG Government

IN a major milestone in the further development of Papua New Guinea’s LNG industry, the Total-led Papua LNG consortium has signed a Memorandum of Understanding (MOU) with the PNG Government. The Papua LNG JV is proposing to develop the massive Elk-Antelope gas discoveries to provide the base for a major expansion of PNG’s already highly successful PNG industry. Papua New Guinea’s own gas powerhouse, Oil Search Ltd (a member of

Leading oil and gas companies launch legal action against PNG Government

A CONSORTIUM of international oil and gas companies has launched legal proceedings against the PNG Government over the proposed cancellation of one of the country’s most high-profile petroleum licences. Discussions between PNG Petroleum Minister Dr Fabian Pok and members of the PDL-10 licensees including global Spanish energy company Repsol (Operator), PNG national oil company, Kumul Petroleum, Horizon Oil and Osaka Gas, have fallen through with regard to the Minister’s notices

Chamber welcomes APEC leaders to Papua New Guinea

THE PNG Chamber of Mines and Petroleum has warmly welcomed world leaders and global CEOs to the Asia-Pacific Economic Cooperation (APEC) meetings which are underway in Port Moresby this week. The APEC programme includes the APEC CEO Summit, which runs from 15-17 November. With the theme “Charting a Common Future”, the program for the summit features a number of keynote speakers from leading resources industry companies operating in Papua New

PNG DPM satisfied with success of sovereign bond roadshow

PNG’s Deputy PM and Treasurer, Charles Abel, says the countries international roadshow to market its inaugural sovereign bond was a success. The DPM and delegation covered Singapore, Hong Kong, London, New York, Boston and Los Angeles in 10 days. In a packed schedule arranged by global lead coordinator Credit Suisse and joint bookrunners Citibank the delegation presented to around 100 global banks and fund managers at 7 meetings per city.

PNG Chamber commends APEC Discussion Series on Mining

The PNG Chamber of Mines and Petroleum has commended APEC Ambassador Ivan Pomaleu and Australian High Commissioner to Papua New Guinea Bruce Davis for including a discussion on mining as part of the APEC Discussion Series at the University of PNG. The discussion gave students and members of the public the opportunity to hear from international mining expert John Strongman who was visiting PNG to moderate the APEC Mining Ministers’

PNG crime fighters trained in latest fraud and corruption investigation techniques

THE Royal Papua New Guinea Constabulary is boosting its efforts to crackdown on financial crimes in Papua New Guinea. By the end of the year, almost 80 police officers will have received specialist training in investigation and prosecution of fraud and corruption. The RPNGC Fraud and Anti-Corruption Directorate is conducting the Fraud Investigations and Prosecutions course nationally. The training was held for 28 officers from the New Guinea Islands Region

High profile PNG development licences under threat

ASX-listed Horizon Oil reports that participants in the high profile PDL-10 Petroleum Development Licence have received a second notice of intention to cancel the licence from the PNG Petroleum Minister, Fabian Pok. The new notice of intention to cancel for PDL-10 and Pipeline Licence 10 (PL-10) follows a similar letter from the Petroleum Minister in May. In that instance, the Petroleum Minister subsequently convened a meeting of the PDL-10 joint

Queen’s recognition a fitting gesture for Greg Anderson’s contribution

The PNG Chamber of Mines and Petroleum has congratulated its founding Executive Director Greg Anderson on his recognition in this year’s Queen’s Birthday Honours. Chamber President Mr Gerea Aopi CBE said Mr Anderson’s recognition as a Officer of the British Empire (OBE) is fitting for someone who has devoted almost his entire life to Papua New Guinea’s development through his many contributions in the mineral and petroleum sectors. “Greg’s illustrious