The Papua New Guinea Chamber of Mines and Petroleum congratulates the Papua New Guinea Government and joint venture partners ExxonMobil, Santos and JX Nippon on the execution of a gas agreement to guide the development of the P’nyang Project.  Prime Minister James Marape, Petroleum Minister Kerenga Kua, Exxon Mobil’s Peter Larden and Santos’ Brett Darl...

Photo credit: Santos Ltd Santos has joined the Papua New Guinea Government and P’nyang project participants (affiliates of ExxonMobil and JX Nippon) to execute a gas agreement that provides a clear framework for P’nyang’s future development. The signing of the gas agreement marks a major milestone for the project, setting out the fiscal framework an...

Prime Minister Hon. James Marape, MP has announced that his Cabinet has cleared the P’nyang Gas Agreement, which now awaits signing between the State and ExxonMobil who is the lead project developer of the Petroleum Retention License (PRL) 3. The Prime Minister said: "When I took office in mid-2019, I committed to the nation better results from resourc...

Photo: Napa Napa Oil Refinery in Port Moresby Puma Energy PNG, the country's largest fuel and energy provider, claims that changes in crude prices have a direct influence on energy market import parity pricing. Import parity pricing is a pricing mechanism used by goods providers to establish prices for their domestic sales to domestic consumers base...

Petroleum Minister Kerenga Kua attended a virtual meeting in Beijing with Snr Vice President of Chinese Petroleum Giant SINOPEC. Minister Kua accompanied Prime Minister James Marape to Beijing and held a separate meeting to discuss various aspects of PNG's petroleum business, including how SINOPEC can best partner in upstream and downstream processing ...

Hon James Marape has praised and congratulated China's leadership for allowing for a very beneficial interaction to extend their country's continuous interest in Papua New Guinea's oil and gas industry, notably in two of the country's most important gas projects, Papua LNG and P'nyang. This was expressed by the Prime Minister in reference to discussion...

Photo credit: Oil Search According to Petroleum Minister Kerenga Kua, the production of liquefied natural gas from the Juha petroleum development licence nine (PDL 9) region in Western has yet to begin. Kua stated this in response to Western Governor Toboi Awi Yoto's inquiries concerning the PNG LNG project's integration with other PDL regions and t...

The Twinza Oil Limited Board of Directors is pleased to announce the appointment of Robert Gard as the Company’s new Chief Executive Officer, commencing on Monday 17th January 2022. Robert has over 35 years of experience in oil and gas including 12 years as a senior executive in junior Australian-based oil and gas companies and 23 years at ExxonMobil. ...

Photo credit: PM James Marape News Page - PM Marape (right) receiving the K200 million from KPHL Chairman Ben Yaru The Papua New Guinea government, five PNGLNG-impacted province governments, and landowners have received a total of K551.82 million from Kumul Petroleum Holdings Limited, the country's largest oil and gas business (KPHL). Hon. Prime Min...

Santos is pleased to announce that it has listed on the official list of the PNGX, Papua New Guinea’s National Stock Exchange, following approval by the Board of PNGX of Santos’ listing application as an exempt foreign entity. The listing of Santos’ shares on PNGX relates to Santos’ merger with Oil Search Limited (Oil Search) which became effective on ...

Santos is pleased to announce that the merger with Oil Search is now effective following the approvals by Oil Search shareholders and the National Court of Papua New Guinea. Oil Search shareholders will receive 0.6275 new Santos shares for each Oil Search share held on the record date of 14 December 2021. Santos Chairman Keith Spence said: “The merg...

According to Twinza chairman Stephen Quantrill, the Pasca A oil and gas project in the Gulf is estimated to bring in about K8.6 billion in direct revenue to the government throughout the project's lifetime. A total of K500 million in tax and royalties is projected to be paid in a year, according to Quantrill, who spoke at the 2021 Mining and Petroleum ...

According to the company, Santos Ltd may pursue listing on the PNG National Stock Exchange (PNGX). Santos Managing Director and Chief Executive Officer Kavin Gallagher said the business was exploring it as the merger with Oil Search developed. “Momentum continues to build for the compelling opportunity to create a company with the size and the skill...

Photo credit: Oil Search According to ExxonMobil PNG Ltd, the PNG LNG project has earned K11 billion in revenue for the government thus far. This was announced by managing director Peter Larden at the recent PNG Mining and Petroleum conference. “Up to October this year, PNG LNG has generated K11 billion in revenue to the State and landowners, whi...

The Oil and Gas (P'nyang LNG Project) (Amendment) Bill 2021 was just enacted by Parliament. The development partners in the P'nyang LNG Project will now be able to submit for an application and a petroleum development license as a result of this adjustment. When introducing the bill in Parliament, Minister for Petroleum KerengaKua stated that the pu...

According to country manager Hulala Tokome, Puma Energy PNG Ltd's Napa Napa refinery is in danger of closing by the end of this month. Tokome explained that the planned customs levy on imported refined gasoline products would be the cause of this. The proposed adjustments include a 5-toea tax cut for refined diesel and petrol, which the government c...