The National Capital District Commission (NCDC), as co- host of the upcoming World Indigenous Business Forum (WIBF), has pitched in with K1 million funding support to the Ministry for International Trade and Investments for the hosting of the event. The NCD Governor, Powes Parkop said the WIBF is an important event because of the opportunities it will bring in for the local business owners and entrepreneurs, something that the governor wants to see happen. “We are ready to have a successful World Indigenous Forum, the K1 million basically is to support the opening ceremony,” said Governor Parkop. “We mean business,…
Author: Emmanuel MAIPE
The Minister for International Trade and Investments wants to see more investments in the energy sector in order to see a reduction in the cost of electricity, so to boost production and improving the general economic status of the country. Minister Richard Maru, when giving his keynote speech at the last day of the 2023 Petroleum and Energy in Port Moresby today, said the cost of electricity in doing business is another factor apart from the law-and-order situation that is affecting the business sector, with the high costs of things being passed on to the public. The high cost of…
As part of reforms to the way things are being done in the country’s petroleum sector, the government intends to move from the present Concession Based Licensing system into a Production Sharing Arrangement system. Petroleum and Energy Minister, Kerenga Kua, said the first step the government will be doing to achieve this, is to introduce a bill in parliament to establish a National Petroleum Authority. “This authority will be charged with the administration and management of the Oil and Gas Act,” said the minister. “The National Petroleum Authority within due course will administer and manage the production sharing arrangement.” The…
Papua New Guinea (PNG) will continue with production and investments in the resource sector for energy supply despite the world making efforts to transition to a more cleaner and greener energy sources in the future. This, Prime Minister (PM) James Marape said is because the LNG is a more cleaner source of energy than the other hydrocarbons and also the government is venturing into potential clean energy sources that the country can tap into in the near future. Although the global community is transitioning, PM Marape said there will still be some major economies out there that will still demand…
It’s finals time for the Moni Plus Port Moresby AFL 2023 Premiership Cup challenge with the major semi- final and the preliminary final scheduled for next weekend at the Colts Oval. Port Moresby AFL Association President, Mr. Douglas Lai said the major semi- final match will be between the Gereka Bombers and the Gordons Kokofas, while the preliminary final will be played out between the Gerehu Magpies and the Lamana Dockers. “The winner of the major semi- final will advance to the grand final and the looser will play winner of the preliminary final. The looser of the preliminary final…
President Joe Biden will mark the 22nd anniversary of the 9/11 attacks on New York and Washington at a memorial ceremony in Alaska with members of the military, first responders and their families, the White House said Monday. The commemoration will take place at Joint Base Elmendorf-Richardson in Anchorage and is expected to include units from the Air Force, the Army, Air National Guard, Air Force Reserves and others. Biden will stop in Alaska while returning from the Group of 20, or G-20, summit of world leaders in New Delhi, India. Before arriving in Alaska, Biden plans to travel to…
The next major Liquefied Natural Gas (LNG) project in the country, the Papua LNG project, is on track and is progressing well and true into its construction phase in 2024. That was the assurance given by Prime Minister (PM) James Marape when stating that the LNG Project is on target for its Final Investment Decision (FID), after his recent meeting with the Chairman and Chief Executive Officer (CEO) of TotalEnergies, Patrick Jean Pouyanne in Paris, France. “Mr. Pouyanne assured me that the US$12 billion Papua LNG Project is on course to commence construction next year, following the FID, which will…
The Hela Provincial Government has presented to the State its Position Paper containing its development aspirations and plans of receiving benefits, pertaining to the power supply from Hides in Hela, to the New Porgera Mine in the Enga province. Hela Governor, Philip Undialu, said Hela is a key partner to the development of the Porgera Mine, having supplied 70megawatt of power for the last 30 years and now with the gas to power generation from Hides PDL 1 area, it adds to the continued electricity supply that would see the gold mine, when reopened soon, continues to benefit from it…
Fuel consumers in the country will now have to dig a little deeper into their pockets to pay for fuel this month because the fuel price for all the three petroleum products, has already increased as of Friday the 8th of September. According to the Independent Consumers and Competitions Commission (ICCC), the price for Petrol, Diesel and Kerosene have increased due to the increased price of crude oil in the month of August. This average increase of crude oil was due to reduced oil production by OPEC (Organization of the Petroleum Exporting Countries) and its allies, and the improved global…
The Palestinian Authority has called the opening of Papua New Guinea’s Israeli embassy in Jerusalem an “aggression” and a “violation” of international law. In a statement, Palestine’s Ministry of Foreign Affairs and Expatriates termed the embassy opening as “an aggression against the Palestinian people and their rights” and “a blatant violation of international law and United Nations resolutions”. On Tuesday, PNG’s Prime Minister, James Marape, inaugurated the embassy in West Jerusalem, becoming only the fifth country to set up a diplomatic mission in the city. In 2018, the US moved its embassy from Tel Aviv to Jerusalem in a move…