So when inserting a hyperlink, the post/comment is submitted/saved automatically, then you have 3 mins to edit it! Using Edge so might be a browser issue. This was all meant to be one post.
25 July, The newly appointed (by Marape) Petroleum Minister Kua commented commented on the US$13b Papua LNG project, in which Oil Search has a 17% stake, “Any signatory to a contract can, anytime after an agreement has been signed, go back to the negotiating table if they are, as an afterthought, unsatisfied with certain aspects of the terms and conditions of the contract,”.
29 July, Opposition Leader Patrick Pruaitch has called for immediate sacking of the Management and Board of Kumul Petroleum Holdings Limited (the state owned enterprise that controls all state owned resource interests). Read the link to get a full run down on the KPHL back story.
30 July, The secretary (Kore) of the Dept of Mineral Policy comes out and says that he has been asked to immediately submit a revised Mining Act to parliament. The review of the Act started in 2009 and has already been submitted to the National Executive Council (aka the PM's office) in 2017. Who asked for the new Act to be reviewed and submitted? Marape.
30 July, KPHL states, again, that "...KPHL is a government business governed by its own legislation and does not get budget support from theNational Budget, as such it is not subjected to the Public Finances Management Act...", they went on to say that it reports through the Prime Minister who is the trustee and shareholder on behalf of the people.
I will periodically update this as more news comes through. Interesting times ahead in the PNG resource sector!
