In spite of the pandemic, the petroleum industry continues to be a vital aspect in providing a sustainable future in the PNG. This, according to Petroleum and Energy Department Secretary David Manau, who said that since its first oil production in Kutubu in 1995, the industry continues to thrive. In fact, since 2015, the liquefied natural gas (LNG) has br...

Papua New Guinea on Friday called off negotiations with Exxon Mobil regarding the P’nyang gas project, casting a shadow on a $13 billion plan to double the country’s gas exports by 2024.The government said Exxon had refused to budge on the financial terms for developing the gas field and failed to come up with an offer it could accept.The P’nyang field wa...

TEN legislative amendments to the Papua LNG project gas agreement were passed during the final quarter of 2019, according to Oil Search Ltd. The company, a partner in the project, noted in its final quarter report that it was while detailed discussions took place between PRL 3 (P’nyang) joint venture and the Government on the terms for the P’nyang field d...

The Papua New Guinea government has signalled that negotiations with ExxonMobil on the terms of a $20 billion LNG expansion are inching towards a resolution, but has made it clear it won't back down on a deadline for the development of a major gas field.Talks between the government's negotiating team and Exxon are understood to be taking place in Sydney t...

Papua New Guinea’s fuel and energy supplier Puma Energy said both its domestic and international fuel and energy supply lines will not be affected with the transition from diesel to liquefied natural gas (LNG) power generation when Niupower and Dirio projects come online. In a response to queries from Post Courier about Niupower and Dirio fuel to gas tran...

Western Province political leaders are considering a ‘no gas deal’ position for the soon to be concluded P’nyang LNG Gas Agreement if their provincial interests are not captured in the final negotiated terms. The leaders have also declared a no deal position until proposed amendments to the Oil and Gas Act 1998 are made. But these are contrary to the stat...

PAPUA New Guinea is not immune to the world market and will be impacted as a result of tensions between the United States (US) and Iran, which has caused a spike in oil prices, says an executive. Puma Energy PNG Ltd country general manager and director Hulala Tokome said the company had seen an increase in crude oil prices as a direct result of the rift b...

About 200 companies have shown interest in the Gulf of Papua Pasca A gas project. This was after developer Twinza put out an expression of interest for companies to provide services to the project. Both local and foreign owned companies have shown interest to provide services during the construction and operation of the country’s first ever offshore gas p...

There are some gaps in the Oil and Gas Act, says Twinza Oil and Gas project development manager Erik Kowa. Mr Kowa said this at the recently held Mining and Petroleum conference in Port Moresby. He said the current Oil and Gas Act is great, however, there are some gaps in there that could be improved. “Stakeholders of the chamber, we can raise this to wor...

Prime Minister Hon. James Marape, MP recently welcomed representatives of the LNG Japan Corporation to Papua New Guinea.During a recent meeting with this high-level delegation, PM Marape said PNG welcomes any investments in the Petroleum Sector and as Prime Minister; he was ready to give 100 per cent support if LNG Japan Corporation would create employmen...

Papua New Guinea’s plans to expand its liquefied natural gas (LNG) production to meet rising demand in the Asia-Pacific region was one of several topics explored by Wapu Sonk, Managing Director of Kumul Petroleum Holdings.This was in a wide-ranging interview he gave recently to Oxford Business Group’s online broadcasting channel, Global Platform.The full ...

Prime Minister James Marape has presented the amendment bill of the Oil and Gas Bill 2019 to amend the Oil and Gas Act 1998 relating to development levies. In presenting the Bill, Mr Marape said the Oil and Gas Act 1998 section 160 subsection 6 provides the payment of development levies into trust accounts for those provincial and local level governments ...

OIL Search Ltd is positioned to double production in the next six years, chief operating officer John Kurz says. Kurz attributed this to the company being the country’s largest single investor and the most active explorer which had also seen it expanding to purchasing asset in Pikku, Alaska. “We have a bright future,” he said. While providing the company’...