By Charlotte Greenfield and Sonali Paul WELLINGTON/MELBOURNE, Feb 26 (Reuters) - A powerful 7.5-magnitude earthquake struck Papua New Guinea's Southern Highlands province early on Monday, the U.S. Geological Survey (USGS) said, disrupting communications and oil and gas operations. The tremor hit near the centre of Papua New Guinea's main island around 560 km (350 miles) from … [Read more...]
China To Pump $770 Million Into Another African Port
by Saliou Samb (Reuters) China Harbour Engineering Company (CHEC) signed a $770 million contract with Guinea's government on Monday to upgrade the port in the capital, Conakry, expanding Chinese economic influence in the West African iron and bauxite producer. Under the contact, CHEC, a subsidiary of China Communications Construction Co Ltd, will construct three … [Read more...]
Former BG CEO to Help InterOil Develop LNG Project as Chairman
By James Paton Aug. 10 (Bloomberg) -- InterOil Corp., Total SA’s partner in Papua New Guinea, named former BG Group Plc Chief Executive Officer Chris Finlayson as chairman to help the company develop a natural gas export project in the Pacific nation. Finlayson, 58, has led exploration and production ventures in Russia, Nigeria, Brunei, Europe and Asia with BG and Royal … [Read more...]
First Cargo of LNG to Leave Papua New Guinea Soon
By James Paton May 14 (Bloomberg) -- Oil Search Ltd., Exxon Mobil Corp.’s partner in a $19 billion liquefied natural gas export project in Papua New Guinea, expects shipments to Asia to start shortly with the initial cargoes sold on the spot market. The process to load the first LNG tanker has begun, with a decision on when the ship will leave to be made over the next few … [Read more...]
Palmer: Massive Gas Field Discovered off Papua New Guinea, 28 TCF Recoverable
SYDNEY, Aug 21 (Reuters) - Australian mining mogul Clive Palmer says his oil and gas business has identified what could be one of the world's largest gas fields off the coast of Papua New Guinea, potentially worth $35 billion. After $50 million worth of exploration over 3,000 square km, the northern region of the Gulf of Papua was found to have about 28 trillion cubic feet … [Read more...]