The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) recently signed two loans to fund improvements to air services in PNG. Minister for Treasury Ian Ling-Stuckey and ADB Country Director for PNG David Hill participated in the signing ceremony. “This innovative program will help boost economic and social development in PNG,”...

Photo: Project cargo specialist, Steamships Logistics Division, has a fleet of nearly 30 ships, tugs, and barges, more than 200 trucking assets, as well as an expanse of machinery and equipment. It employs more than 1,700 staff (98 % PNG nationals). Papua New Guinea’s oldest business group, Steamships Trading Company Ltd, has invested millions in its L...

Photo: PNG Chamber of Mines and Petroleum President Anthony Smaré addressing delegates at the opening of the 16th PNG Mining and Petroleum Investment Conference and Exhibition in Sydney, Australia. President of the PNG Chamber of Mines and Petroleum, Mr Anthony Smaré during the 16th PNG Mining and Petroleum Investment Conference and Exhibition, acknowl...

The Papua New Guinea Chamber of Mines and Petroleum has announced that it is considering a name change to PNG Chamber of Resource and Energy (PNG Core) to better reflect the change in the commodities produced by the sector in PNG. PNG Chamber of Mines and Petroleum President Anthony Smaré made this announcement during the 16th Mining and Petroleum Inve...

Photo: A haul truck being loaded with ore at the Ok Tedi mine. Ok Tedi Mining Limited (OTML) recently announced that a dividend of PGK300 Million will be paid to shareholders on or before 31 December 2022. OTML Chairman Dr Roger Higgins thanked employees, contract partners and mine impacted communities for their support throughout 2022. He added ...

Photo: Pacific Towing’s ASD tug Waiowa (4,300 BHP and 57 Tonne BP) and her crew were responsible for deploying oil spill booms in the NMSA led National Oil Spill Response Exercise in Port Moresby’s Fairfax Harbour. Papua New Guinea is better equipped to respond to a major maritime incident resulting in a significant oil spill following a national oil s...

Photo: Mayur Resources Managing Director, Mr Paul Mulder. Credit: Mayur Resources Facebook Page Mayur Resources Limited and Santos Ventures Pty Ltd (Santos), a subsidiary of Santos Limited, have extended their exclusivity arrangements to jointly develop a portfolio of nature-based carbon offset projects in Papua New Guinea (Carbon Projects). Mayur h...

The opening remarks by President Mr Anthony Smaré, paved the way for strong discussions on bilateral trade, development of the PNG economy, riding off the back of PNG’s trading partners in Australia and the Asian region, as well as a push for more direct investment in the resource and renewable energy sector. A sector that is of growing importance as the ...

The Papua New Guinea Tourism Promotion Authority hosted its first Implementation Steering Committee Meeting for the recently launched Tourism Sector Development Plan 2022-2026 on the 29th June 2022, at the Lamana Hotel in Port Moresby. The Chief Executive Officer Mr. Eric Mossman Uvovo, chaired the inaugural meeting in the presence of 16 organisation r...

Tourism, Arts, and Culture Minister Isi Henry Leonard claims that the National Cultural Commission (NCC) cannot reasonably promote Papua New Guinea's tourism industry. “We have to work in partnership with provincial governments at the national level to develop the industry,” he added. Leonard stated that the government was, therefore, signing MOU wi...

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 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 credit: ADB The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help Papua New Guinea’s (PNG) state-owned enterprises (SOEs) deliver high-quality, affordable services through Subprogram 3 of the ADB-supported SOE Reform Program. Subprogram 3 supports PNG’s efforts to improve the operational performance and financi...

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...