Prime Minister Hon. James Marape says Puma Energy has said they replied to Bank of Papua New Guinea’s (BPNG) 13 queries in relation to supply of foreign exchange (FX), but is still in court in a BPNG initiated court proceeding. He said this resulted in Puma stopping its supply of aviation gasoline to Air Niugini, because it could not get the required F...

Photo credit: Santos - Brett Darley PNG will continue to be a major focus of strategy as Santos works to decarbonize operations, according to the upstream chief of Santos. Santos president of Upstream Oil and Gas, Brett Darley, stated that Santos is still eager to keep that region as its primary investment priority. “More broadly as a company, Sa...

Before we end the year, let us have a recap of Twinza Oil Limited’s presentation during the 2021 PNG Mining and Petroleum Conference and Exhibition. Although the report was presented a year ago, (2 December 2021), Twinza’s Executive Chairman, Stephen Quantrill, provided a remarkable forecast and insights on how their Pasca A Development Project will boost...

The Petroleum Sector National Content Policy is anticipated to be finished by the end of this month and presented to the National Executive Council the following month, according to Department of Petroleum and Energy Secretary David Manau. Manau stated that this strategy will also establish an office to look at the practical elements of assisting the s...

Photo credit: PNGEITI An undertaking by state owned Kumul Petroleum Holdings Limited (KPHL) to increase its PNGLNG equity through a conditional arrangement between PNGLNG partner Santos has raised concerns over the lack of transparency surrounding the whole arrangement and the partial financial transaction that already took place between the parties in...

Photo: PM Marape in discussion with LNG Japan Corporation President and CEO, Kyo Onojima, in Tokyo. Prime Minister Hon. James Marape has told the LNG Japan Corporation that Papua New Guinea has about 20-trillion cubic feet (TCF) in stranded gas fields, apart from the major LNG projects, waiting to be developed. He said this in Tokyo on Tuesday (Sept...

Photo: The PNG and JX Nippon Oil & Gas Exploration delegations after their meeting in Tokyo. Prime Minister Hon. James Marape has encouraged major Japanese company JX Nippon Oil & Gas Exploration, which already has a 4.7 per cent stake in the PNG LNG Project, to also participate in upstream and downstream of Papua LNG (Gulf), P’nyang LNG (Weste...

Photo: PM Marape and the PNG delegation (left) meeting with Sojitz Corporation President and CEO Masayoshi Fujimoto and his team in Tokyo. Prime Minister Hon. James Marape has invited leading Japanese company Sojitz Corporation into the upstream and downstream processing of liquefied natural gas (LNG) in Papua New Guinea. He made the invitation to S...

Photo: Oil Search Santos advises it has received a binding conditional offer from Kumul Petroleum Holdings Limited (Kumul) to acquire a 5 per cent project interest in PNG LNG for asset value of US$1.4 billion, including a proportionate share of project finance debt of approximately US$0.3 billion (the Offer). Kumul is Papua New Guinea’s national oil...

The Pasca A offshore gas project in the Gulf of Papua will focus to help transform the PNG energy sector and to boost sustainable growth in the country. Twinza Oil (PNG) Limited chairman, Stephen Quantrill said when in full production, the Pasca A Liquefied Petroleum Gas (LPG) project’s landed prices will be lower than the current LPG imports. He sa...

Photo credit: PNG Energy Summit - Wayne Kasou Santos has paid more than K1.21 billion in corporate tax since the merger, despite the current focus of considerable discussion on multinational corporations in the extractive industry to pay their taxes. A further K43.2million was also paid as direct taxes as an operator in the country. At the recent...

By 2032, it is anticipated that the Papua Liquefied Natural Gas project (Papua LNG) would produce an additional 2–3 million tonnes of liquefied natural gas annually. Given that Total Energies announced FEED (front-end engineering and design) for the Papua LNG Project in July of this year, Minister for Petroleum and Energy Kerenga Kua believes that PNG ...

Craig Schulz has been appointed as Kumul Petroleum Holdings Limited's new chief operating officer, filling a long-standing vacancy. According to managing director Wapu Sonk, it is essential that they have senior technical management personnel who are sufficient and properly qualified given their current level of operations in the petroleum sector, in n...

Photo credit: PNG Chamber of Mines and Petroleum - Stephen Quantrill The Pasca A gas project's developer, Twinza, is prepared to collaborate with regional members of parliament to identify and reap the community advantages of the Pasca Development project. Stephen Quantrill, the executive chairman of Twinza, stated as much at a briefing for the PNG ...

According to Peter Laden, managing director of ExxonMobil PNG Ltd, there are major sources of LNG (liquefied natural gas) supplies outside of Papua New Guinea (PNG). According to Laden, PNG presently accounts for 2% of the market for LNG, which produces eight to nine million tonnes annually. “In the future, even after Papua LNG, we will still repres...

Photo credit: TotalEnergies  According to an official, Papua New Guinea would gain K86 billion from the Papua LNG project throughout its lifetime. Jean-Marc Noiray, managing director of Total Energies PNG Ltd, made the comments at the induction ceremony for new lawmakers in Port Moresby. He said this when acknowledging the country’s laws and regulat...