Michael McWalter picks up his prior discussions of petroleum sector reform (Issue No. 3 2024) and describes in more detail exactly what a Production Sharing Contract, or what a PSC, is all about. In my commentary of PNG Business News, Issue 2, 2023 entitled: Petroleum Sector Reform for Papua New Guinea, I wrote about the need to apply better governan...

By: Niki Alsford Niki Alsford is Professor of Anthropology and Human Geography, and Director for the Institutes for the Study of the Asia Pacific (ISAP) at the University of Central Lancashire. He is Research Associate at SOAS, the University of London and Associate Member of the Faculty of Asian and Middle Eastern Studies at the University of Oxford. ...

Commentary by: Michael McWalter Michael McWalter explains the important responsibility to care for the vast amount of petroleum data submitted to the Government by operating petroleum companies and for the need for the establishment of a National Petroleum Data Centre in Papua New Guinea to cater for the vast amount of information arising from petroleu...

As the pandemic recedes and gradually fades from people’s memories, travel in the Pacific is rebounding. However, the Pacific’s travel recovery is highly variable. Comparing visitor arrivals in 2023 with those in 2019 (Figure 1 below), it looks like Vanuatu is the biggest winner, but this is misleading. Vanuatu has experienced a surge in cruise tourism...

by Rishabh Mukerjee, Helmtrude Sikas Iha and Damaris Warambukia Coffee is one of the most important smallholder cash crops in Papua New Guinea. It accounted for US$156 million of export earnings, 13% of agricultural export revenues, and 1.4% of total export revenues in PNG in 2021. According to the PNG Rural Household Survey 2023, approximately 55% of ...

Commentary by: Michael McWalter Michael McWalter explains the important responsibility to care for the vast amount of petroleum data submitted to the Government by operating petroleum companies and for the need for the establishment of a National Petroleum Data Centre in Papua New Guinea to cater for the vast amount of information arising from petroleu...

In Part I, we read about the signs of oil and gas throughout Papua New Guinea that enticed many oilmen to look for large oil and gas fields over many decades, and we read about the first commercial oil discovery at the Iagifu 2-X well and how the Kutubu field was successfully developed.  We now pick up the story where subsequent exploration wells found ma...

by Henry Ivarature On 7 December 2023, the prime ministers of Australia and Papua New Guinea signed an historic security agreement in Canberra. It has taken approximately three years to conclude since both countries signed the Comprehensive Strategic and Economic Partnership on 5 August 2020, which committed the parties to develop a bilateral security ...

Michael McWalter, former Director, Petroleum Division and Adviser to the Government of Papua New Guinea and erstwhile petroleum adviser to the Governments of Ghana, Liberia, Cambodia, Sao Tome,  and South Sudan comments on the evolution of Papua New Guinea’s oil and gas industry and how Papua New Guinea has fostered the industry into some of its largest i...

EDITOR’S NOTE: Michael McWalter, former Director, Petroleum Division and Adviser to the Government of Papua New Guinea, and erstwhile petroleum adviser to the Governments of Ghana, Liberia, Cambodia, Sao Tome, and South Sudan, comments on PNG’s oil and gas industry and changes to the petroleum regime made, muted, abandoned and planned. Optimising Benef...

by Andrew Anton Mako Blessings The Porgera goldmine in Enga Province offered so much promise when it began production in 1990 – a modern way of life and improved living standards for the landowners and surrounding communities, with access to modern health, education, and other social services. Before the closure of the mine in April 2020, it had pro...

Article by Lotte Schou-Zibell, Arndt Husar The Internet of Things—a rapidly growing network of connected devices—can help bring financial services to those most in need. The Internet-of-Things (IoT), defined as “software, sensors and network connectivity embedded in physical devices, buildings and other items that enable those objects to collect and...

Commentary by: Stephen Howes and Alyssa Leng When we think of resource-dependent economies, we normally think of the Middle East, and economies like Saudi Arabia. Where does Papua New Guinea fit in? Data available from the UN allows us to isolate value added in the resources sector from the rest of the economy (resource GDP). The ratio of resource t...

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: Roadworks on the Malahang-China Town Road in Lae, August 2022 (LAE OPEN Electorate - JOHN ROSSO Dps MP/Facebook) Commentary by Alyssa Leng Inadequate funding has meant roads are few, far between and in poor condition across Papua New Guinea. Port Moresby is not connected by road to either the industrial hub of Lae or the agricultural and popu...

by Kingtau Mambon and Stephen Howes Papua New Guinea has been facing fiscal problems since the end of its economic boom almost a decade ago, with large deficits, increasing debt, falling revenue, and a rapidly growing salary bill. The COVID-19 pandemic has made things worse by depressing revenue. But the recently released 2021 Final Budget Outcome cont...