Search Results: 2022

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...

Photo: Sandeep Biswas According to the International Energy Agency, copper is essential for additional solar PV, wind, bioenergy, networks, electric vehicles (EVs), and battery storage in the field of clean energy solutions. According to Sandeep Biswas, managing director and chief executive officer of Newcrest Mining Limited, the International Energ...

The connect PNG program implemented by the government is said to be rejected by the people of Central Province. Governor for Central Province, Rufina Peter announced the issue and raised this concern in parliament last week. Governor Peter said the road project is essential but will have consequences faced by Central Province Communities such as land grab...

Photo: James Marape Prime Minister Hon. James Marape has reminded heads of Government departments and agencies to submit their annual reports by March 31, 2023, to show what they have achieved in 2022. Marape said that this would ensure timely and regular checks and balances on government departments and agencies. “All heads of Government departm...

The quality of the conduct and management of elections in Papua New Guinea has deteriorated in the 2022 national elections. This was revealed in an elections observers report presented by Transparency International Papua New Guinea (TIPNG) last week at the election seminar in Port Moresby. TIPNG was among other observers engaged to observe the 2022 nat...

The Investment Promotion Authority is calling on business houses, corporate organisations, small and medium enterprises and the general public, to look out for new changes in the display and content of its newly launched online registry service as it undergoes transition. In addressing participants at the PNG Mining and Petroleum Conference in Sydney A...

Photo: From right to left Dr Kishti Sen Senior Economist of ANZ, middle IRC Commissioner Sam Koim and Dirctor Corporate Affairs Total E&P PNG Limited Richard Kassman The Port Moresby Chamber of Commerce and Industry (POM CCI) in conjunction with Deloitte PNG had its Annual Budget Breakfast meeting to discuss the 2023 National Government Budget at t...

Photo: Hon. Kerenga Kua - Minister for Petroleum The second day of the 16th PNG Mining and Petroleum Investment Conference and Exhibition had its focus on project updates from some of PNGs biggest resource companies. Operator of the multi-billion Kina PNG LNG project, ExxonMobil PNGs Scott Sandlin, Senior Vice President of Production – focused his u...

Photo credit: K92 Mining K92 Mining is pleased to announce that the Government of Papua New Guinea has granted an extension of Mining Lease 150 for the Kainantu Gold Mine in Papua New Guinea for a period of 10 years to June 13, 2034. Concurrent with this announcement, K92’s Board of Directors have approved the Stage 3 and Stage 4 Expansions (collect...

Photo: OTML General Manager and Chief Financial Officer Cameron Clark speaking at the PNG Mining and Petroleum Investment Conference The Ok Tedi Mine will generate over PGK19 Billion in dividends for the benefit of Papua New Guinea over the next 11 years, says Ok Tedi Mining Ltd (OTML) General Manager Commercial and Chief Financial Officer Cameron Clar...

Photo: President of the PNG Chamber of Mines and Petroleum Mr Anthony Smaré President of the PNG Chamber of Mines and Petroleum Mr Anthony Smaré in his opening address to delegates at the 16th PNG Mining and Petroleum Investment Conference and Exhibition says international investment has had a catalysing impact on PNG’s economic development. The cha...

The inaugural Joint Trade and Investment Committee Meeting between the Philippines and Papua New Guinea will take place in Manila in January 2023. The purpose of the conference is to talk about measures to increase and diversify commercial and investment ties between the two nations. On the sidelines of the APEC meetings in Bangkok, Thailand, Alfred...

Due to its strategic position, Singapore is eager to host the Papua New Guinea Trade and Investment Roadshow the next year, where PNG can promote all the potential it can provide to Singapore and the Asia area. At a meeting on the sidelines of the APEC Summit in Bangkok, Thailand, the Minister for International Trade and Investment, Richard Maru, made ...

A Memorandum of Cooperation on a Joint Crediting Mechanism (JCM) was signed by Papua New Guinea (PNG) and Japan on the sidelines of the 27th Climate Conference of the United Nations (COP 27) in Egypt. The Government of Japan created the Joint Crediting Mechanism, a new project-based bilateral offset crediting system, to make it easier to adopt cutting-...

Following the government's Budget 2023 proposal to hike corporation tax from 30% to 45%, Kina Bank is abandoning all of its plans to grow by opening additional offices nationally. Greg Pawson, the chief executive of Kina, stated that the bank was against any rise in corporate tax on the banking industry. “To put into perspective, it is an additional...

Photo: Richard Maru. Credit: Richard Maru Facebook Page Richard Maru, the minister of foreign trade and investment, says he is eager to promote trade and investment with Indonesia. “Our people go to the border to trade with Indonesia. There is big trade happening there, but our two governments have not made the time to enter into a formal trade and ...

Additional company tax on the banking sector will increase from 30 to 45 percent treasurer Ian Ling-Stuckey said when presenting the 2023 budget in parliament recently. This is expected to raise K240 million in 2023 to fund core vital services. The additional company tax was initially imposed on companies declaring huge profits such as BSP and Digicel ...

Photo: Treasurer Ling-Stuckey delivers the 2023 Budget in Parliament today. Picture courtesy of PARLIAMENT MEDIA Prime Minister Hon. James Marape says the K590 million in cost-of-living relief, provided for in the biggest-ever K24.567 billion 2023 Budget handed down recently (November 29, 2022) by Treasurer Hon. Ian Ling-Stuckey, shows that it is a “Pe...