Business PNG Episode – 11, 2014

In this episode:


The K3 billion loan obtained by the Government to acquire shares in Oil Search has sparked concerns from various sectors of society. 

This controversial loan has also caught the attention of the Ombudsman Commission, who has initiated an investigation into the matter to find out whether proper procedures were followed in obtaining the loan that has already been signed. Prime Minister Peter O’Neill has stated that documents and procedures undertaken for the loan will be presented to Parliament.


Meanwhile, the deal between InterOil and Total on the Elk-Antelope Project in the Gulf Province has been inked. Oil Search however has disputed the deal, bringing another twist to the issue.


And later on in the show, a new power project aimed at boosting the country’s capacity in meeting the high demand for electricity in PNG. The demand for electricity in the country is ever-increasing and some efforts are being made now to meet this demand. Last week, PNG Power signed a new power project deal with a German company to boost power capacity in the country to meet this demand. There are also other plans by the Government and PNG Power to increase power supply capacity by buying electricity from across the border.

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