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Polye: Petroleum & Energy summit biased with discussions


Opposition Leader, Don Polye, says the Petroleum & Energy summit should seek to discuss the benefits going toward landowners and to the whole country.

“The inaugural petroleum and energy summit has discussed issues one sided, biased, geared towards corporate profit, business profitability, convenience of supply and meeting market demand,” says Polye.

It comes after the Prime Minister, Peter O’Neill announced during the opening of the summit that it is the right time for investors to invest in the PNG petroleum and gas sector.

“The future of the Papua New Guinea resource sector is bright and the return of the commodity prices, I believe it is the right time to invest,” says Prime Minster O’Neill.

Polye has also questioned the way LNG revenue has been used to provide services and compensated landowners.

It is now the second day of Papua New Guinea’s petroleum and energy summit in Port Moresby.

The National Government is advertising Papua New Guinea as a destination to invest in the Petroleum and Energy industry.

The Opposition Leaders comments come after the Prime Minister, Peter O’Neill told investors that it was the right time to invest in the Petroleum and Energy industry in Papua New Guinea.

While, the National Government has identified the LNG Project as being the most successful, the opposition questions where the K3 billion revenue has gone.

“Every year starting 2013, K3-K4 billion has been the revenue of sale of the PNG LNG, the budget of the PNG Parliament does not reflect the K3-K4 billion as reported by the treasury department,” says Polye.

The argument about the LNG revenue and the state of the Papua New Guinean economy continues with a month till elections.


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