Photo credit: MRDC Dirio Gas and Power’s next project will be to supply 66 megawatts gas fired power station gas for the Ramu Grid. Speaking at the PNG Energy Summit in Port Moresby, Mineral Resource Development Company (MRDC) Chief Operating Officer John Tuaim said Dirio is currently providing a 45 megawatts (MW) gas-fired power station for the Por...

By 2032, it is anticipated that the Papua Liquefied Natural Gas project (Papua LNG) would produce an additional 2–3 million tonnes of liquefied natural gas annually. Given that Total Energies announced FEED (front-end engineering and design) for the Papua LNG Project in July of this year, Minister for Petroleum and Energy Kerenga Kua believes that PNG ...

Picture from left to right: Dr. Genevieve Nelson, Mr. Luke Liria, Mr. Peter Koim, Mr. Francis Kunuma and Mr. Kori Chan  One of the highlights of the second day of the PNG Energy Summit discussions on the 21st of September was how the energy sector could contribute toward local content and the development of local small to medium enterprises for the fut...

The PNG Business and Logistics Park is ideal for businesses wanting to establish a strategic operational base and capitalise on its privately owned port and container terminal within minutes of the Port Moresby CBD and expanding LNG plant. Papua New Guinea is not known for its ease of doing business, especially for new market entrants.  However, the PN...

The fourth Papua New Guinea Energy Summit and Exhibition commenced on the 20th of September 2022 at the Hilton Hotel and will end on the 22nd of September. The theme of the summit is "A New Dawn for PNG's Energy Sector Development." The host sponsor for the Summit is Kumul Petroleum Holdings Limited, whose Managing Director Wapu Sonk gave the opening r...

PRIME Minister Hon. James Marape recently (20/09/22) paid a courtesy visit to John Swire of John Swire & Sons Ltd, the principal shareholder and parent of Papua New Guinea’s oldest company – Steamships Trading Company. The meeting with John Swire & Sons at their London head office, was to thank the shareholder for keeping their investments goin...

Photo: Jerry Garry Mineral Resource Authority (MRA) MD predicts strong copper and gold production for Papua New Guinea up to 2050. Wafi-Golpu and Frieda River, Papua New Guinea's two mining "mega projects," might be completed on schedule. Over the next thirty years, New Guinea will rank among the top producers of copper in the world, according to...

Photo credit: Ok Tedi Mining According to Ok Tedi Mining Ltd managing director and chief executive officer Musje Werror, more than 17 million tonnes of copper concentrate have been exported out from the Ok Tedi mine in Papua New Guinea since operations got underway in 1984. Werror travelled to Port Moresby to officially greet the mine's new vessel, ...

Photo credit: Niuminco Group Niuminco Group Limited is pleased to announce that the Group’s application for an extension of term of its Edie Creek mining lease, ML 511, in the Morobe Goldfields of Papua New Guinea has been approved by the Minister for Mining for a further 10 years from 5 October 2021 to 5 October 2031. ML 511 covers 3.89 sqr. kms an...

Photo credit: Newcrest According to managing director Jerry Garry of the Papua New Guinea Mineral Resources Authority (MRA), processing and shipping of the gold or copper from the Wafi-Golpu project will take six years. He commended the province executive council and Morobe Governor Luther Wenge for promoting the project's launch. Wenge announced...

Photo credit: Sam Moko Prime Minister James Marape has ordered officials to halt the issuance of new logging licences until the 205 active ones have undergone "a comprehensive stock-take." “We want to make more money for our country but at a sustainable rate,” he said during a visit to the PNG Forest Authority office in Port Moresby. “This sector...

Photo: Richard Maru According to Richard Maru, the minister for international trade and investment, the feasibility study for a free trade agreement with the People's Republic of China should be carried out before the end of the year. Maru reiterated PNG's commitment to a potential free trade deal with China during a meeting he conducted with Chen J...

Craig Schulz has been appointed as Kumul Petroleum Holdings Limited's new chief operating officer, filling a long-standing vacancy. According to managing director Wapu Sonk, it is essential that they have senior technical management personnel who are sufficient and properly qualified given their current level of operations in the petroleum sector, in n...

The newly formed Papua New Guinea Parliamentary Election Committee has received the backing of the New Zealand Government in order to handle election-related concerns that arose during this election. This was said by Nanaia Mahuta, the minister of foreign affairs for New Zealand, at a news conference that both nations held in Port Moresby. In order ...

Prime Minister Hon. James Marape recently (September 13, 2022) announced 12 Vice-Ministerial allocations, in line with his Government’s focus on ‘Growing the Economy’ and ‘Strengthening Internal Security’. He made the announcements before he left for London to attend the funeral service of Queen Elizabeth II. Of the 12 Vice-Ministers, four will be d...

The economy in Papua New Guinea is forecast to expand by four percent in 2022, up from one percent in the previous year, according to the latest World Bank Economic Update, released recently. This return to growth following a sharp contraction of -3.5 percent in 2020 was mostly driven by strong performance in the non-extractive sector, with agriculture be...

PNGX, Papua New Guinea’s national stock exchange, has received the Securities Commission’s approval of the new PNGX Debt Market Rules. The new PNGX Debt Market Rules allow a company to issue corporate bonds and have those bonds listed on PNGX where they can be traded. Corporate bonds are a type of debt security issued by a company. The company may b...

Photo credit: IRC Prime Minister Hon. James Marape today announced a record K9.7 billion tax revenue collection by the Internal Revenue Commission (IRC). He made the announcement as he prepares to travel to London for the funeral service of Queen Elizabeth II and as Papua New Guinea prepares to celebrate its 47th Independence anniversary on Friday, ...

This week in Kokopo the Businesses for Health (B4H) TB project partnered with leading businesses to address PNG’s ongoing Tuberculosis crisis. Even though drugs that eradicate TB have been around since 1944, worldwide 1.5 million people still died of the illness in 2020. TB has been in PNG a long time. In the 1930s it was the largest cause of death at ...

EU-STREIT PNG started work on two additional farm-to-market access roads in Sandaun and East Sepik provinces totalling 56 plus km, to serve over 16,000 villagers, including businesspersons, women and school children, with improved access to towns, health posts and schools.   The International Labour Organization (ILO) under the EU Funded UN Joint STREI...

The Grand Papua Hotel in Port Moresby is a proud winner of The World Travel Award 2022. The World Travel Award recognizes and celebrates the hotel industry worldwide, with votes cast by travellers, guests, and industry players. It is the first year the Grand Papua Hotel has entered The World Travel Award and we are proud to have been awarded the follow...

The president & chairman of Papua New Guinea's Fishing Industry Association (FIA), Sylvester Barth Pokajam is calling on the new Government to reform its National Fisheries Authority policy document. This policy document provides the legal framework and guides the regulatory regime of the fisheries sector. The policy should focus more on key areas ...

Photo: PM Marape speaking during the launching of the K130 million Paga Hill Paradise project in Port Moresby Prime Minister Hon. James Marape has welcomed foreign investors into Papua New Guinea, as he launched the K130 million Paga Hill Paradise project in Port Moresby recently (September 8 2022). He said the 22-storey luxury apartments project, b...

Photo credit: The Statesmen According to India's High Commissioner Inbasekar Sundaramamurthi, Papua New Guinea exports to India five times more than India does to PNG. “This means the balance of trade is in (PNG’s) favour,” he said. According to Sundaramamurthi, India and PNG had bilateral trade of about $427 million (K1,471.13 million). Aroun...