Prime Minister Hon. James Marape has reiterated the need for major interventions by the government to save struggling State utilities companies PNG Power, Air Niugini and Water PNG, as he witnessed his Treasurer present a K200 million funding to Kumul Consolidated Holdings (KCH) recently. After a four-hour long meeting during which the Prime Minister w...

Prime Minister Hon. James Marape expressed his support for the newly formed Independent Commission Against Corruption (ICAC) today, heralding it as a significant milestone in the fight against corruption. The commission gained momentum with the recent arrival of three highly qualified and experienced ICAC Commissioners. Recognising the devastating impa...

On October 16th & 17th, 2023, Papua New Guinea will take center stage at the inaugural Papua New Guinea–Asia Investment Conference in Hong Kong, organized by the PNG Chamber of Mines and Petroleum with support of, and in partnership with, the National Government. PNG Chamber of Mines and Petroleum (“the Chamber”) President Anthony Smarè made these ...

Papua New Guinea's recently launched Medium Term Development Plan IV (MTDP 4) has been described as ambitious by the World Bank, stating that a developing economy like PNG needs a clear plan to address issues and grow the economy. MTDP 4 stands as the roadmap for the Marape-Rosso Government in pursuit of its ambitious development agenda to incorporate ...

In starting a new era that has been proposed to see inclusive growth, the Papua New Guinea Government is planning to increase its economic incentives, according to its newly-released Medium Term Development Plan IV 2023–2027. The plan envisions a “strategic shift” in budget allocations based on 12 specific priority areas of the government that is poise...

With just under six weeks to the start of the inaugural Community Affairs and National Content Conference and Expo (CANCONEX), Landowner Groups and Landowner companies are being encouraged to ensure they register their participation. When providing an update on preparations for CANCONEX2023, PNG Chamber of Mines and Petroleum President Anthony Smarè en...

Steamships Trading Company Ltd (Steamships) and GFS Limited are pleased to announce the launch of a new joint venture partnership, and the establishment of Gulf Maritime Services Limited (GMS) with the MOU being signed on Wednesday 14 June.  GMS will provide marine, quayside and land logistics services to Papua LNG and more broadly to the Gulf Province...

PT Citilink, an Indonesia airline will now commence flights to and from Port Moresby and Indonesia. Minister for Transport & Civil Aviation Walter Schnaubelt confirmed this in a media statement last week. PT Citilink Indonesia has met all requirements under the PNG Civil Aviation Act as a foreign air operator to commence flights to and from Port...

Earlier in May and in the first week of June, the Papua LNG Project team successfully updated local and international business houses in Papua New Guinea (PNG) the status of the Project, as well as crucial information regarding Upstream Project packages of interest. Two information sessions in the form of breakfast events, were held in partnership with...

The Asian Development Bank (ADB) and the governments of Australia and Papua New Guinea recently commissioned the Alotau Wharf as part of the cofinanced Building Resilience to Climate Change in Papua New Guinea (PNG) project, which has upgraded Alotau Wharf to improve safety and make it less vulnerable to climate change. Papua New Guinea’s Deputy Prime ...

Prime Minister Hon. James Marape has issued a directive recently, (Sunday, July 9, 2023) mandating all Government departments and agencies to align themselves with the Medium-Term Development Plan (MTDP) IV (2023-2027), which was launched on Friday, July 7, 2023. Under the directive, Prime Minister Marape stressed the importance of immediate action and...

Prime Minister Hon. James Marape recently announced the inaugural Papua New Guinea-Asia Investment Conference, scheduled to take place in Hong Kong on October 16-17, 2023. The conference will be hosted by the PNG Chamber of Mines and Petroleum (PNGCMP) and will serve as a platform for government and business representatives from China and other parts of A...

Prime Minister Hon. James Marape expressed his utmost satisfaction with the State Visit of Indonesian President H.E. Joko Widodo to Papua New Guinea on Wednesday, July 5, 2023, describing it as a “resounding success.” Prime Minister Marape recently (Thursday, July 6, 2023) highlighted the significant achievements resulting from President Widodo’s visit...

Minister for International Trade and Investment, Hon. Richard Maru announced the launching of a new Capital Market product, a Debt Security or local bonds. This Capital Market product will be available on the Debt Market immediately. The companies who want to issue bonds must contact Papua New Guinea National Stock Exchange (PNGX). “I have the powers u...

Pacific Capital Markets Development has announced that it has acquired a 12.5 percent interest in the South Pacific Stock Exchange (SPX). SPX is the national stock exchange of Fiji, based in Suva. PCMD is the majority shareholder in PNGX Group Limited, operator of PNGX Markets, Papua New Guinea’s national stock exchange. SPX and PNGX have an exis...

Photo: Patrick Pouyanné, CEO TotalEnergies, and Toshiya Nakahara, CEO of JX Nippon (Credit: JX Nippon) JX Nippon oil and gas exploration has received approval to acquire a 2.58 percent stake in the Papua LNG project from TotalEnergies EP PNG Ltd. According to Paulus Ain, commissioner and CEO of the Independent Consumer and Competition Commission (IC...

Air Niugini, has recently signed an agreement with Rolls Royce in the United Kingdom (UK) for its Trent 1000 engine, chosen for the airline's Boeing 787 Dreamliner order. According to Air Niugini's acting chief executive officer Gary Seddon, this decision showcases the airline's dedication to operational efficiency, reliability, and environmental sustaina...

Transparency International PNG (TIPNG) held its Annual General Meeting last Friday (30 June 2023) at the Holiday Inn, Port Moresby to present its annual report for the year 2022 to its members. The 2022 Financial Statements for TIPNG were presented to the members at the AGM. Once again, the organization returned an unqualified audit which was conducted...

The planned Fabrication Facility came one step closer today, when Kumul Petroleum Holdings signed a contract with China State Construction Engineering Corporation PNG Limited China to undertake Phase 1 of early works civil work. The contract was signed by Wapu Sonk, managing director of Kumul Petroleum Holdings, and Wang Ounan, general manager of the c...

Prime Minister Hon. James Marape extends his heartfelt appreciation to Indonesian President H.E. Joko Widodo for his immensely successful one-day visit to Papua New Guinea on Wednesday, July 5, 2023. The visit resulted in several significant accomplishments and outcomes. Reflecting on the visit as President Widodo departed Port Moresby, Prime Minister ...

The Government of Papua New Guinea, through the Mineral Resources Authority, has granted six exploration licenses to PanAust, the parent company of Frieda River Limited. Mining Minister, Sir Ano Pala, stated, "The approval of these exploration licenses is a demonstration of the government's commitment to move the Frieda River Project forward." PanAu...

Minister for International Trade and Investment, Hon. Richard Maru says there will be no merger between the Newcrest Mining Limited and the Newmont Corporation unless the National Interest Test requirements are met. Minister Maru said this recently in his meeting with the high-level Executives of Newcrest Mining and Newmont Corporation including the Presi...

Minister for International Trade and Investment, Hon. Richard Maru, today called on all Papua New Guinea (PNG) companies who are listed in other countries to list on PNG National Stock Exchange (PNGX) to boost market credibility and improve investor confidence. “The existing law of Capital Market Act 2015 under Section 116(3) requires an approval from ...

After a 4-year hiatus, the Extractive Industries Emergency Response Challenge (EIERC) will make a return in 2024. This was announced by the PNG Chamber of Mines and Petroleum (“The Chamber”). At a recent Health Safety & Environment networking event, organized by the Chamber, Councilor and Newcrest Mining Lihir Country Manager, Stanley Komunt off...