Photo: International Trade and Investment Minister Richard Maru (left), PM Marape and East Sepik Governor Allan Bird meeting with executives of leading Japanese company Sojitz Corporation in Tokyo Department of International Trade and Investment will be a “one-stop shop” for all large foreign investments in Papua New Guinea, according to Prime Minister...

Photo: Executive Managing Director Howard Lole and Larry Andagali of Lole Mining Limited presenting K20 Million payments Liquification to BSP  Local mining firm, Lole Mining Ltd has paid K20 Million to the Liquidator Pini Accountants and Advisors on Monday, 22nd of October as part of its process in the transfer of ownership of Tolukuma gold mine in the...

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 credit: European Union The Delegation of the European Union in Papua New Guinea, the PNG National Trade Office, PNG Investment Promotion Authority, Department of Commerce and Industry and the PNG-Europe Business Council hosted a joint Press Conference at Lamana Hotel on the 3rd of October 2022 regarding the Third EU - PNG Trade, Business and Inve...

Photo: PM Marape and the PNG team in discussion with Dr Kobayashi in Tokyo Prime Minister Hon. James Marape has given the green lights to Japanese think tank Japan Development Institute (JDI) to help develop a new Special Economic Zone (SEZ) Master Plan for the country and work with partners like the Asian Development Bank (ADB), Japan International Co...

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: PM Marape meeting with Japanese PM Kishida in Tokyo Prime Minister Hon. James Marape says he is privileged to have met Japanese Prime Minister Hon. Fumio Kishida in Tokyo today (Tuesday, September 27, 2022) before the state funeral of former Prime Minister Shinzo Abe. PM Marape, one of many world leaders attending Abe’s funeral, had a bilater...

Photo credit: Porgera Joint Venture Facebook Page Barrick Niugini Limited (BNL) is pleased to announce the appointment of Ms Karo Maha-Lelai as Country Manager for Papua New Guinea Operations. Ms Maha-Lelai is a lawyer by profession and has over 23 years of experience in the petroleum and mining industry. She previously held executive positions with...

Coral Sea Hotels & Hospitality is in growth mode, part of this includes changes to the Coral Sea Hotels. Papua New Guineans are familiar with the Coral Sea Hotel offering of ENZO’s Pizza. ENZO’s has traditionally been a feature offering of Coral Sea Hotels, however as the business grows there are changes taking place to accommodate this growth. “Th...

Photo credit: ADB Masatsugu Asakawa, the president of the Asian Development Bank, and Treasurer Ian Ling-Stuckey recently met in Manila, Philippines. Following this meeting, Treasurer Ling-Stuckey stated that the ADB has been PNG's largest and most dependable multilateral aid donor, having contributed approximately $US4.26 billion (K15 billion) in a...

The long-awaited realization of quality services from the government has seen a real estate boom mainly from property owners in the Small to Medium Enterprise Sector (SME) in the Moresby South electorate of NCD. A rapid transformation from the shanty colonial suburbs to a modern looking electorate has created an abundance of opportunities for property own...

The EU-STREIT PNG Programme in collaboration with the Cocoa Board rolled out eight capacity building workshops for 470 local cocoa processors on cocoa quality control measures.   The Greater Sepik region of Papua New Guinea is leading area in cocoa production in the country, but quality has been a concern compared to other cocoa producing provinces. ...

Photo credit: Oxford Business Group The creation of the new ministries by the current government for both major agricultural commodities, Coffee and Oil Palm is a huge step forward in achieving the agriculture sectors economic potential. For the past years the agricultural sector had not been fully utilized by consecutive governments as the focus ha...

Treasurer Ian Ling-Stuckey is dismayed at how the 2022 National Elections were conducted and is now looking forward to a complete review of the allocated funds that were spent on the elections. Ling-Stuckey recently stated in parliament that the government had allocated and funded enough money for the election process to be conducted this year. “We ...

Commentary by Stephen Howes, Kingtau Mambon and Kelly Samof The urban minimum wage has been an important part of Papua New Guinea’s economic history. In the last few years before independence (in 1975), it was greatly increased. In the decade or so after independence, it was widely regarded as too high. In 1992, it was slashed, merged with the rural mi...

Photo: Hon. Kerenga Kua, Minister for Petroleum & Energy. Credit: Papua New Guinea Energy Summit & Exhibition Twitter Page The Energy Sector of Papua New Guinea is just awaiting to be tapped into as it has the capacity to generate massive returns in revenue. Gas projects such as The Papua LNG project and P’nyang Gas project are expected to b...

Leading digital bank, Kina Bank is continuing to push the digital boundaries when it comes to everyday banking in Papua New Guinea (PNG). “This latest digital advancement will take personal banking to the next level, it is a game changer,” Kina Bank Chief Transformation Officer, Mr Ivan Vidovich said. “Our team has developed a banking tool that is e...

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...

One of the most important issues that is currently affecting lives of low-income earners in Papua New Guinea is Inflation. This vital issue needs to be seriously addressed and implemented by the new government under the leadership of Prime Minister, James Marape and his Deputy, John Rosso. Treasurer Ian Ling-Stuckey recently passed the supplementary bu...

The three-day Papua New Guinea Energy Summit and Exhibition that ended last week focused on strengthening coordination roles among stakeholders and industry players by promoting government and private sector engagement to improve and reaffirm the huge potential of PNG’s Energy Sector. This was the first time the summit was mainly dominated and driven b...

On Papua New Guinea’s Independence Day last Sept. 16, Acting Prime Minister John Rosso assured heads of government, departmental heads, the diplomatic corps, and the country that the government is better and well prepared to deliver services to the people. During his inaugural independence speech as Acting Prime Minister, Mr. Rosso said: “We are not th...

The recently established National Energy Authority was one of the major participants of the PNG Energy Summit and Exhibition 2022. NEA’s Acting Managing Director, Mr. Ronald Maketa said the highlight of the NEA is to support the National Governments Energy Policy and its stakeholders to realize the potential of PNG’s Energy industry. He stated durin...