Santos CEO Mr. Kevin Gallagher recently called Papua New Guinea’s Liquefied Natural Gas (PNG LNG) project  a "world-class asset" that boasts a low-cost, low-emissions intensity profile. He told PNG Business News that the project continues to deliver reliable LNG supply to key markets in Asia, reinforcing its vital role in the global energy landscape. ...

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Tolu Minerals Limited has announced a successful placement, raising A$26.7 million (Australian Dollars) from sophisticated and institutional investors at an issue price of A$0.80 per share. In an exclusive interview, Tolu Minerals Managing Director and CEO Iain Macpherson told PNG Business News that this funding will significantly strengthen and accele...

Papua New Guinea is committed to strengthening its bilateral relationship with the United States in the coming years, with Prime Minister James Marape expressing confidence in future cooperation under the leadership of President-elect Donald Trump. PM Marape made the statement while congratulating Trump on his election as the 47th President of the Unit...

November is a month of global activism to take action and prevent all forms of violence against women. Joining this global agenda, more than 1,000 people wearing red walked the streets of Port Moresby with support from Puma Energy as major sponsors for the annual “Redvember Walk.” This officially launched the “United to End Violence Against Women (EVAW...

Santos has completed its sale of a 2.6% interest in the Papua New Guinea Liquefied Natural Gas (PNG LNG) project to Kumul Petroleum Holdings Limited (KPHL). The transaction, first announced on 29 December 2023 and detailed on 1 February 2024, was completed on 4 November 2024 and is worth US$602 million in cash (2.43 billion kina). In addition, Kumul wi...

In an exclusive interview with PNG Business News, the newly appointed Minister for Mining, Hon. Wake Goi, shared his priorities, placing emphasis on transparency in regard to all mining deals done under his ministry.  "Any mining deals done under my ministry must be done with transparency," he stated. Minister Goi, now almost five weeks into his ten...

Papua New Guinea Prime Minister James Marape announced the launch of a “transformative” $1.2 billion (4.8 billion kina) agro-forestry project aimed at boosting the economy and infrastructure of the remote midlands of Western Province. During a press conference, PM Marape outlined key features of the project, which promises to enhance connectivity and g...

Kainantu Gold Mine in Papua New Guinea has reported outstanding production results for the third quarter of 2024, achieving a record output of 44,304 ounces of gold equivalent (AuEq), which includes 41,702 ounces of gold, 1,278,492 pounds of copper, and 37,613 ounces of silver, according to K92 Mining Inc. John Lewins, K92 Chief Executive Officer and D...

Innovative technology has shifted business operations from traditional to modern methods. In an interview with PNG Business News, Remington Group CEO Navin Raju shared his vision and stressed the necessity of adapting to these changes. The Remington Group Board of Directors recently appointed Raju as the new CEO, recognizing his extensive experience in...

The government has reiterated its ambition to achieve carbon neutrality by 2050, with an interim target of a 50-percent reduction by 2030, at the recent Petroleum and Energy Conference 2024. Recent reports indicate progress, particularly in the agriculture, forestry, and other land use sectors, which have successfully met initial CO2 reduction targets....

This year's Petroleum and Energy Conference (PEC) attracted an impressive 580 delegates from around the world to Papua New Guinea (PNG), which is the highest attendance to date. The Managing Director for Kumul Petroleum Holdings Limited, Mr. Wapu Sonk, expressed optimism for future events, stating: "I look forward to a better and bigger event next year...

The Papua New Guinea (PNG) Minister for International Trade and Investment, Hon. Richard Maru, said PNG is still facing a pressing energy crisis, nearly half a century after gaining independence. Minister Maru underscored the urgency of the country’s energy challenges, stating: “We cannot pretend, we can't keep talking about providing for other countri...

Prime Minister James Marape invited international investors and energy experts to collaborate with Papua New Guinea (PNG) in harnessing its diverse energy resources, including hydro, geothermal, and solar power, during his keynote address at the opening of the 2024 Petroleum and Energy Conference at the Hilton Hotel in Port Moresby. "We offer strong in...

The Papua New Guinea National Energy Authority (PNG NEA) has officially launched its Board Charter and Appeals Panel Guidelines, signifying the establishment of its governance framework. This initiative aims to enhance transparency and accountability within the NEA, ultimately improving the efficiency and fairness of the country's energy sector. The...

Papua New Guinea’s new Mining Minister, Hon. Wake Goi, was sworn in on September 25 at Government House in Port Moresby. Hon. Goi took over the role from Prime Minister James Marape, who had been filling in as mining chief. Marape expressed confidence in Goi's experience and qualifications as the Member of Parliament for the Jimi electorate in Jiwaka P...